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Long-Term Employee Benefit Liabilities (Tables)

12 Months Ended

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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