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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2022
Retirement Benefits [Abstract] |
Assumptions Used in Calculating the Benefit Obligations and the Net Amount Recognized | Assumptions Used in Calculating the Benefit Obligations and the Net Amount Recognized
| For the years ended December 31,
| 2022 | 2021 | 2020
Weighted Average Assumptions used to determine benefit obligations |  |  |
Discount rate: |  |  |
U.S. Pension Plan | 5.43 | % | 2.91 | % | 2.65 | %
Other Pension Plans | 5.40 | % | 2.83 | % | 2.51 | %
Other postretirement benefits | 5.39 | % | 2.72 | % | 2.36 | %
Interest crediting rate on cash balance plan | 3.89 | % | 3.30 | % | 3.30 | %
Weighted Average Assumptions used to determine net periodic benefit costs:
Discount rate: |  |  |
U.S. Pension Plan | 2.91 | % | 2.66 | % | 3.33 | %
Other Pension Plans | 2.83 | % | 2.52 | % | 3.25 | %
Other postretirement benefits | 2.72 | % | 2.36 | % | 3.15 | %
Expected long-term rate of return on plan assets: |  |  |
U.S. Pension Plan | 5.10 | % | 5.40 | % | 6.00 | %
Other Pension Plans | 3.30 | % | 2.90 | % | 3.90 | %
Other postretirement benefits | 4.80 | % | 4.90 | % | 5.60 | %
Assumed Health Care Cost Trend Rates |  |  |
Pre-65 health care cost trend rate | 7.00 | % | 7.00 | % | 7.00 | %
Post-65 health care cost trend rate | N/A | N/A | N/A
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | 4.50 | % | 4.50 | % | 4.50 | %
Year that the rate reaches the ultimate trend rate | 2032 | 2032 | 2032
Schedule of Net Funded Status | Obligations and Funded Status
| U.S. Pension Plan |  | Other Pension Plans |  | Total Pension Plans |  | Other Postretirement Benefits
| For the years ended December 31,
| 2022 | 2021 |  | 2022 | 2021 |  | 2022 | 2021 |  | 2022 | 2021
Change in Benefit Obligation
Benefit obligation — beginning of year | $ | 4,210 |  | $ | 4,409 |  |  | $ | 439 |  | $ | 466 |  |  | $ | 4,649 |  | $ | 4,875 |  |  | $ | 197 |  | $ | 220 |
Service cost | 4 |  | 4 |  |  | — |  | — |  |  | 4 |  | 4 |  |  | — |  | — |
Interest cost | 101 |  | 87 |  |  | 10 |  | 9 |  |  | 111 |  | 96 |  |  | 4 |  | 3 |
Plan participants’ contributions | — |  | — |  |  | — |  | — |  |  | — |  | — |  |  | 10 |  | 11 |
Actuarial loss (gain) | 14 |  | (7) |  |  | 4 |  | 2 |  |  | 18 |  | (5) |  |  | (5) |  | 1 |
Changes in assumptions | (985) |  | (96) |  |  | (92) |  | (11) |  |  | (1,077) |  | (107) |  |  | (33) |  | (5) |
Benefits paid | (188) |  | (187) |  |  | (27) |  | (26) |  |  | (215) |  | (213) |  |  | (30) |  | (33) |
Foreign exchange adjustment | — |  | — |  |  | — |  | (1) |  |  | — |  | (1) |  |  | — |  | — |
Benefit obligation — end of year [1] | $ | 3,156 |  | $ | 4,210 |  |  | $ | 334 |  | $ | 439 |  |  | $ | 3,490 |  | $ | 4,649 |  |  | $ | 143 |  | $ | 197 |
Change in Plan Assets
Fair value of plan assets — beginning of year | $ | 4,467 |  | $ | 4,346 |  |  | $ | 15 |  | $ | 17 |  |  | $ | 4,482 |  | $ | 4,363 |  |  | $ | 51 |  | $ | 63 |
Actual return on plan assets | (742) |  | 338 |  |  | (3) |  | (1) |  |  | (745) |  | 337 |  |  | (6) |  | 4 |
Employer contributions | — |  | — |  |  | — |  | — |  |  | — |  | — |  |  | 5 |  | 7 |
Benefits paid [2] | (188) |  | (187) |  |  | (1) |  | (1) |  |  | (189) |  | (188) |  |  | (20) |  | (23) |
Expenses paid | (24) |  | (30) |  |  | — |  | — |  |  | (24) |  | (30) |  |  | — |  | — |
Fair value of plan assets — end of year | $ | 3,513 |  | $ | 4,467 |  |  | $ | 11 |  | $ | 15 |  |  | $ | 3,524 |  | $ | 4,482 |  |  | $ | 30 |  | $ | 51 |
Funded status — end of year | $ | 357 |  | $ | 257 |  |  | $ | (323) |  | $ | (424) |  |  | $ | 34 |  | $ | (167) |  |  | $ | (113) |  | $ | (146) |
Amounts Recognized in the Consolidated Balance Sheets
Other assets | $ | 357 |  | $ | 257 |  |  | $ | — |  | $ | — |  |  | $ | 357 |  | $ | 257 |  |  | $ | — |  | $ | — |
Other liabilities | $ | — |  | $ | — |  |  | $ | (323) |  | $ | (424) |  |  | $ | (323) |  | $ | (424) |  |  | $ | (113) |  | $ | (146) |
[1]As of December 31, 2022 and 2021, the Accumulated Benefit Obligation is equal to the Projected Benefit Obligation. [2]Other postretirement benefits paid represent non-key employee postretirement medical benefits paid from the Company's prefunded trust fund, net of participant contributions.
Net Periodic Cost (Benefit) | Net Periodic Cost (Benefit)
| Pension Benefits | Other Postretirement Benefits
| For the years ended December 31,
| 2022 | 2021 | 2020 | 2022 | 2021 | 2020
Service cost | $ | 4 |  | $ | 4 |  | $ | 4 |  | $ | — |  | $ | — |  | $ | — |
Interest cost | 111 |  | 96 |  | 127 |  | 4 |  | 3 |  | 6 |
Expected return on plan assets | (202) |  | (205) |  | (215) |  | (2) |  | (3) |  | (4) |
Amortization of prior service credit | — |  | — |  | — |  | (7) |  | (7) |  | (7) |
Amortization of actuarial loss | 62 |  | 69 |  | 60 |  | 7 |  | 8 |  | 7 |
Net periodic cost (benefit) | $ | (25) |  | $ | (36) |  | $ | (24) |  | $ | 2 |  | $ | 1 |  | $ | 2 |
Amounts Recognized in Other Comprehensive Income (Loss) | Amounts Recognized in Other Comprehensive Income (Loss)
| Pension Benefits | Other Postretirement Benefits
| For the years ended December 31,
| 2022 | 2021 | 2020 | 2022 | 2021 | 2020
Amortization of actuarial loss | $ | 62 |  | $ | 69 |  | $ | 60 |  | $ | 7 |  | $ | 8 |  | $ | 7 |
Amortization of prior service credit | — |  | — |  | — |  | (7) |  | (7) |  | (7) |
Net actuarial gain (loss) | 89 |  | 214 |  | (106) |  | 30 |  | 5 |  | (11) |
Prior service cost (credit) | — |  | — |  | — |  | — |  | — |  | — |
Total | $ | 151 |  | $ | 283 |  | $ | (46) |  | $ | 30 |  | $ | 6 |  | $ | (11) |
Amounts in Accumulated Other Comprehensive Income (Loss), Before Tax, not yet Recognized as Components of Net Periodic Benefit Cost | Amounts in Accumulated Other Comprehensive Income (Loss), Before Tax, not yet Recognized as Components of Net Periodic Benefit Cost
| Pension Benefits | Other Postretirement Benefits
| As of December 31,
| 2022 | 2021 | 2020 | 2022 | 2021 | 2020
Net loss | $ | (1,664) |  | $ | (1,815) |  | $ | (2,098) |  | $ | (87) |  | $ | (124) |  | $ | (136) |
Prior service credit | — |  | — |  | — |  | 47 |  | 54 |  | 60 |
Total | $ | (1,664) |  | $ | (1,815) |  | $ | (2,098) |  | $ | (40) |  | $ | (70) |  | $ | (76) |
Pension Plan Assets Fair Value Measurements Using Significant Unobservable Inputs |
Pension Plan Asset Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Assets | Corporate | RMBS | Foreign government | Mortgage loans | Other [1] |  | Totals
Fair Value as of January 1, 2022 | $ | 42 |  | $ | — |  | $ | 2 |  | $ | 202 |  | $ | 5 |  |  | $ | 251 |
Realized gains, net | — |  | — |  | — |  | — |  | — |  |  | — |
Changes in unrealized gains (losses), net | (10) |  | — |  | — |  | (25) |  | — |  |  | (35) |
Purchases | 1 |  | — |  | — |  | 4 |  | — |  |  | 5 |
Settlements | — |  | — |  | — |  | — |  | — |  |  | — |
Sales | (2) |  | — |  | — |  | (16) |  | — |  |  | (18) |
Transfers into Level 3 | 3 |  | — |  | — |  | — |  | — |  |  | 3 |
Transfers out of Level 3 | (3) |  | — |  | (1) |  | — |  | (4) |  |  | (8) |
Fair Value as of December 31, 2022 | $ | 31 |  | $ | — |  | $ | 1 |  | $ | 165 |  | $ | 1 |  |  | $ | 198 |
Fair Value as of January 1, 2021 | $ | 39 |  | $ | 1 |  | $ | 9 |  | $ | 161 |  | $ | — |  |  | $ | 210 |
Realized gains (losses), net | — |  | — |  | — |  | (3) |  | — |  |  | (3) |
Changes in unrealized gains, net | — |  | — |  | — |  | — |  | — |  |  | — |
Purchases | 6 |  | — |  | — |  | 55 |  | 5 |  |  | 66 |
Settlements | — |  | — |  | — |  | — |  | — |  |  | — |
Sales | (5) |  | — |  | (7) |  | (11) |  | — |  |  | (23) |
Transfers into Level 3 | 2 |  | — |  | — |  | — |  | — |  |  | 2 |
Transfers out of Level 3 | — |  | (1) |  | — |  | — |  | — |  |  | (1) |
Fair Value as of December 31, 2021 | $ | 42 |  | $ | — |  | $ | 2 |  | $ | 202 |  | $ | 5 |  |  | $ | 251 |
[1]"Other" includes U.S. Treasuries, Other fixed income and CMBS investments.
Plan Assets | Target Asset Allocation Ranges
| Pension Plans | Other Postretirement Plans
| Minimum | Maximum | Minimum | Maximum
Equity securities | — | % | 20 | % | — | % | — | %
Fixed income securities | 75 | % | 95 | % | 100 | % | 100 | %
Alternative assets | — | % | 25 | % | — | % | — | %
Pension Plan Assets at Fair Value
| As of December 31, 2022 |  | As of December 31, 2021
Asset Category | Level 1 | Level 2 | Level 3 | Total |  | Level 1 | Level 2 | Level 3 | Total
Short-term investments: | $ | 155 |  | $ | — |  | $ | — |  | $ | 155 |  |  | $ | 120 |  | $ | 29 |  | $ | — |  | $ | 149 |
Fixed Income Securities: |  |  |  |  |  |  |  |  |
Corporate | — |  | 1,791 |  | 31 |  | 1,822 |  |  | — |  | 2,333 |  | 42 |  | 2,375 |
RMBS | — |  | 115 |  | — |  | 115 |  |  | — |  | 98 |  | — |  | 98 |
U.S. Treasuries | — |  | 165 |  | — |  | 165 |  |  | 23 |  | 169 |  | — |  | 192 |
Foreign government | — |  | 25 |  | 1 |  | 26 |  |  | — |  | 38 |  | 2 |  | 40 |
CMBS | — |  | 57 |  | 1 |  | 58 |  |  | — |  | 56 |  | 4 |  | 60 |
Other fixed income [1] | — |  | 139 |  | — |  | 139 |  |  | — |  | 185 |  | 1 |  | 186 |
Mortgage Loans | — |  | — |  | 165 |  | 165 |  |  | — |  | — |  | 202 |  | 202 |
Equity Securities: |  |  |  |  |  |  |  |  |
Domestic | 8 |  | — |  | — |  | 8 |  |  | 237 |  | — |  | — |  | 237 |
International | — |  | 7 |  | — |  | 7 |  |  | 121 |  | — |  | — |  | 121 |
Total pension plan assets at fair value, in the fair value hierarchy [2] | 163 |  | 2,299 |  | 198 |  | 2,660 |  |  | 501 |  | 2,908 |  | 251 |  | 3,660 |
Other Investments, at net asset value [3]: |  |  |  |  |  |  |  |  |
Private Market Alternatives |  |  |  | 666 |  |  |  |  |  | 572 |
Hedge funds |  |  |  | 152 |  |  |  |  |  | 199 |
Total pension plan assets at fair value | $ | 163 |  | $ | 2,299 |  | $ | 198 |  | $ | 3,478 |  |  | $ | 501 |  | $ | 2,908 |  | $ | 251 |  | $ | 4,431 |
[1]Includes ABS, municipal bonds, and CDOs. [2]Excludes $46 and $51 as of December 31, 2022 and 2021, respectively, of investment receivables net of investment payables that are excluded from this disclosure requirement because they are trade receivables in the ordinary course of business where the carrying amount approximates fair value. [3]Investments that are measured at net asset value per share or an equivalent and have not been classified in the fair value hierarchy. Other Postretirement Plan Assets at Fair Value
| As of December 31, 2022 |  | As of December 31, 2021
Asset Category | Level 1 | Level 2 | Level 3 | Total |  | Level 1 | Level 2 | Level 3 | Total
Short-term investments | $ | 25 |  | $ | — |  | $ | — |  | $ | 25 |  |  | $ | 1 |  | $ | — |  | $ | — |  | $ | 1 |
Fixed Income Securities: |  |  |  |  |  |  |  |  |
Corporate | — |  | — |  | — |  | — |  |  | — |  | 11 |  | — |  | 11 |
RMBS | — |  | 1 |  | — |  | 1 |  |  | — |  | 7 |  | — |  | 7 |
U.S. Treasuries | — |  | 4 |  | — |  | 4 |  |  | 1 |  | 13 |  | — |  | 14 |
Foreign government | — |  |  | — |  | — |  |  | 1 |  | — |  | — |  | 1 |
CMBS | — |  | — |  | — |  | — |  |  | — |  | — |  | — |  | — |
Other fixed income | — |  | — |  | — |  | — |  |  | — |  | 1 |  | — |  | 1 |
Equity Securities: |  |  |  |  |  |  |  |  |
Large-cap | — |  | — |  | — |  | — |  |  | 16 |  | — |  | — |  | 16 |
Total other postretirement plan assets at fair value | $ | 25 |  | $ | 5 |  | $ | — |  | $ | 30 |  |  | $ | 19 |  | $ | 32 |  | $ | — |  | $ | 51 |
Amounts of Benefits Expected to be Paid over the next Ten Years from Pension and other Postretirement Plans | Amounts of Benefits Expected to be Paid over the next Ten Years from Pension and other Postretirement Plans as of December 31, 2022
| Pension Benefits | Other Postretirement Benefits
2023 | $ | 235 |  | $ | 18 |
2024 | 240 |  | 16 |
2025 | 249 |  | 15 |
2026 | 255 |  | 13 |
2027 | 256 |  | 12 |
2028 - 2032 | 1,279 |  | 51 |
Total | $ | 2,514 |  | $ | 125 |

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