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Long-Term Employee Benefit Liabilities (Tables) | 12 Months Ended
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Dec. 31, 2023
Long-Term Employee Benefit Liabilities | Long-term employee benefit liabilities consist of:
|  | 2023 |  |  | 2022 |
Defined benefit pension plans and other [a] |  | $ | 124 |  |  | $ | 146 |
Termination and long-term service arrangements [b] |  |  | 428 |  |  |  | 369 |
Retirement medical benefits plans [c] |  |  | 20 |  |  |  | 20 |
Other long-term employee benefits |  |  | 19 |  |  |  | 13 |
Long-term employee benefit obligations |  | $ | 591 |  |  | $ | 548 |
Summary of Weighted Average Significant Actuarial Assumptions Adopted in Measuring Company's Obligations and Cost |
[a] | Defined benefit pension plans
The Company sponsors a number of defined benefit pension plans and similar arrangements for its employees. All pension plans are funded to at least the minimum legal funding requirements, while European defined benefit pension plans are unfunded. The significant weighted average actuarial assumptions adopted in measuring the Company’s obligations and costs are as follows:
|  | 2023 |  |  | 2022 |
Projected benefit obligation |  |  |  |  |  |  |  |
Discount rate |  |  | 4.7 | % |  |  | 4.8 | %
Rate of compensation increase |  |  | 3.7 | % |  |  | 3.6 | %
Net periodic benefit cost |  |  |  |  |  |  |  |
Discount rate |  |  | 4.5 | % |  |  | 2.8 | %
Rate of compensation increase |  |  | 3.7 | % |  |  | 2.9 | %
Expected return on plan assets |  |  | 5.7 | % |  |  | 4.6 | %
Schedule of Company's Defined Benefit Pension Plans | Information about the Company’s defined benefit pension plans is as follows:
|  | 2023 |  |  | 2022 |
Projected benefit obligation |  |  |  |  |  |  |  |
Beginning of year |  | $ | 498 |  |  | $ | 689 |
Current service cost |  |  | 6 |  |  |  | 9 |
Interest cost |  |  | 22 |  |  |  | 14 |
Actuarial gains and changes in actuarial assumptions |  |  | 5 |  |  |  | (155 | )
Benefits paid |  |  | (24 | ) |  |  | (31 | )
Acquisition [note 7] |  |  | 4 |  |  |  | — |
Divestiture |  |  | (10 | ) |  |  | — |
Foreign exchange |  |  | 10 |  |  |  | (28 | )
End of year |  |  | 511 |  |  |  | 498 |
Plan assets at fair value [i] |  |  |  |  |  |  |  |
Beginning of year |  |  | 391 |  |  |  | 532 |
Return on plan assets |  |  | 41 |  |  |  | (107 | )
Employer contributions |  |  | 7 |  |  |  | 11 |
Benefits paid |  |  | (19 | ) |  |  | (27 | )
Foreign exchange |  |  | 7 |  |  |  | (18 | )
End of year |  |  | 427 |  |  |  | 391 |
Ending funded status – Plan deficit |  | $ | 84 |  |  | $ | 107 |
Amounts recorded in the consolidated balance sheet |  |  |  |  |  |  |  |
Non-current asset [note 14] |  | $ | 41 |  |  | $ | 41 |
Current liability |  |  | 1 |  |  |  | 2 |
Non-current liability |  |  | 124 |  |  |  | 146 |
Net liability |  | $ | 84 |  |  | $ | 107 |
Amounts recorded in accumulated other comprehensive income Unrecognized actuarial losses |  | $ | (75 | ) |  | $ | (86 | )
Net periodic benefit cost |  |  |  |  |  |  |  |
Current service cost |  | $ | 6 |  |  | $ | 9 |
Interest cost |  |  | 22 |  |  |  | 14 |
Return on plan assets |  |  | (21 | ) |  |  | (23 | )
Actuarial losses |  |  | 3 |  |  |  | 3 |
Net periodic benefit cost |  | $ | 10 |  |  | $ | 3 |
| [i] | The asset allocation of the Company’s defined benefit pension plans at December 31, 2023 and the target allocation range for 2024 are as follows:
|  | 2024 |  |  | 2023 |
Fixed income securities |  |  | 60-86 | % |  |  | 67 | %
Equity securities |  |  | 19-45 | % |  |  | 28 | %
Cash and cash equivalents |  |  | 0-10 | % |  |  | 5 | %
|  |  | 100 | % |  |  | 100 | %
Future Benefit Payments |
[d] | Future benefit payments
|  | Defined benefit pension plans |  |  | Termination and long service arrangements |  |  | Retirement medical benefits plans |  |  | Total |
Expected employer contributions - 2024 |  | $ | 13 |  |  | $ | 17 |  |  | $ | 1 |  |  | $ | 31 |
Expected benefit payments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 |  | $ | 27 |  |  | $ | 17 |  |  | $ | 1 |  |  | $ | 45 |
2025 |  |  | 26 |  |  |  | 19 |  |  |  | 1 |  |  |  | 46 |
2026 |  |  | 27 |  |  |  | 22 |  |  |  | 1 |  |  |  | 50 |
2027 |  |  | 29 |  |  |  | 25 |  |  |  | 1 |  |  |  | 55 |
2028 |  |  | 30 |  |  |  | 31 |  |  |  | 2 |  |  |  | 63 |
Thereafter |  |  | 166 |  |  |  | 314 |  |  |  | 6 |  |  |  | 486 |
|  | $ | 305 |  |  | $ | 428 |  |  | $ | 12 |  |  | $ | 745 |
Termination and Long-term Service Arrangements [Member] |
Summary of Weighted Average Significant Actuarial Assumptions Adopted in Measuring Company's Obligations and Cost | The weighted average significant actuarial assumptions adopted in measuring the Company’s projected termination and long-term service benefit obligations and net periodic benefit cost are as follows:
|  | 2023 |  |  | 2022 |
Discount rate |  |  | 5.3 | % |  |  | 4.8 | %
Rate of compensation increase |  |  | 3.7 | % |  |  | 3.5 | %
Schedule of Company's Defined Benefit Pension Plans | Information about the Company’s termination and long-term service arrangements is as follows:
|  | 2023 |  |  | 2022 |
Projected benefit obligation |  |  |  |  |  |  |  |
Beginning of year |  | $ | 387 |  |  | $ | 467 |
Current service cost |  |  | 16 |  |  |  | 13 |
Interest cost |  |  | 20 |  |  |  | 11 |
Actuarial losses (gains) and changes in actuarial assumptions |  |  | 21 |  |  |  | (67 | )
Benefits paid |  |  | (24 | ) |  |  | (18 | )
Foreign exchange |  |  | 25 |  |  |  | (19 | )
Ending funded status – Plan deficit |  | $ | 445 |  |  | $ | 387 |
Amounts recorded in the consolidated balance sheet |  |  |  |  |  |  |  |
Current liability |  | $ | 17 |  |  | $ | 18 |
Non-current liability |  |  | 428 |  |  |  | 369 |
Net liability |  | $ | 445 |  |  | $ | 387 |
Amounts recorded in accumulated other comprehensive income Unrecognized actuarial losses |  | $ | (59 | ) |  | $ | (38 | )
Net periodic benefit cost |  |  |  |  |  |  |  |
Current service cost |  | $ | 16 |  |  | $ | 13 |
Interest cost |  |  | 20 |  |  |  | 11 |
Actuarial losses |  |  | 7 |  |  |  | 7 |
Net periodic benefit cost |  | $ | 43 |  |  | $ | 31 |
Retirement Medical Benefits Plans [Member] |
Summary of Weighted Average Significant Actuarial Assumptions Adopted in Measuring Company's Obligations and Cost | The weighted average discount rates used in measuring the Company’s projected retirement medical benefit obligations and net periodic benefit cost are as follows:
|  | 2023 |  |  | 2022 |
Retirement medical benefit obligations |  |  | 4.8 | % |  |  | 5.1 | %
Net periodic benefit cost |  |  | 5.1 | % |  |  | 3.1 | %
Health care cost inflation |  |  | 6.7 | % |  |  | 6.8 | %
Schedule of Company's Defined Benefit Pension Plans | Information about the Company’s retirement medical benefits plans are as follows:
|  | 2023 |  |  | 2022 |
Projected benefit obligation |  |  |  |  |  |  |  |
Beginning of year |  | $ | 21 |  |  | $ | 27 |
Interest cost |  |  | 1 |  |  |  | 1 |
Employer contributions |  |  | 1 |  |  |  | — |
Actuarial gains and changes in actuarial assumptions |  |  | (3 | ) |  |  | (6 | )
Benefits paid |  |  | (1 | ) |  |  | (1 | )
Foreign exchange |  |  | 2 |  |  |  | — |
Ending funded status – Plan deficit |  | $ | 21 |  |  | $ | 21 |
Amounts recorded in the consolidated balance sheet |  |  |  |  |  |  |  |
Current liability |  | $ | 1 |  |  | $ | 1 |
Non-current liability |  |  | 20 |  |  |  | 20 |
Net liability |  | $ | 21 |  |  | $ | 21 |
Amounts recorded in accumulated other comprehensive income |  |  |  |  |  |  |  |
Unrecognized actuarial gains |  | $ | 19 |  |  | $ | 17 |
Net periodic benefit cost |  |  |  |  |  |  |  |
Interest cost |  | $ | 1 |  |  | $ | 1 |
Actuarial gains |  |  | (1 | ) |  |  | (1 | )
Net periodic benefit cost |  | $ | — |  |  | $ | — |

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