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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Changes in Projected Benefit Obligations [Table Text Block]

A December 31 measurement date is used for all of the defined benefit and postretirement plans. The status of these plans as of December 31, 2023 and 2022 is summarized below (dollars in millions):

						December 31,
						Pension Benefits												Other Benefits
						2023						2022						2023						2022
Change in benefit obligation:
Benefit obligation at beginning of year						$	214					$	256					$	60					$	75
Service cost						14						17						2						3
Interest cost						10						6						3						2
Participant contributions						—						—						—						—
Amendments						—						—						—						2
Actuarial (gains) losses						10						(50)						—						(20)
Benefits paid						(13)						(12)						(2)						(2)
Foreign exchange translations and other adjustments						1						(3)						—						—
Benefit obligation at end of year						$	236					$	214					$	63					$	60

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

						December 31,
						Pension Benefits												Other Benefits
						2023						2022						2023						2022
Change in plan assets:
Fair value of plan assets at beginning of year						$	158					$	179					$	—					$	—
Actual return on plan assets						17						(30)						—						—
Employer contributions						18						21						2						2
Participant contributions						—						—						—						—
Benefits paid						(13)						(12)						(2)						(2)
Fair value of plan assets at end of year						$	180					$	158					$	—					$	—
Funded status at end of year						$	(56)					$	(56)					$	(63)					$	(60)

Schedule of Net Funded Status [Table Text Block]

						December 31,
						Qualified Plans												Non-Qualified Plans (1)												Total
						2023						2022						2023						2022						2023						2022
Aggregate fair value of plan assets						$	180					$	158					$	—					$	—					$	180					$	158
Aggregate projected benefit obligations						156						142						80						72						236						214
Over (under) funded						$	24					$	16					$	(80)					$	(72)					$	(56)					$	(56)

(1)For non-qualified plans, there are no required funding levels.

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

			December 31,
			Pension Benefits												Other Benefits
			2023						2022						2023						2022
Amounts recognized in accumulated other comprehensive income (loss):
Net actuarial (gain) loss			$	41					$	40					$	1					$	(1)
Net prior service cost (credit)			—						—						(5)						(6)
Total			$	41					$	40					$	(4)					$	(7)

Schedule Of Projected Benefit Obligations In Excess Of Fair Value Of Plan Assets [Table Text Block]

The following table presents information for pension plans with a projected benefit obligation in excess of plan assets as of December 31, 2023 and 2022 (dollars in millions):

						2023						2022
Projected benefit obligation						$	81					$	73
Fair value of plan assets						—						—

Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]

The following table presents information for pension plans with an accumulated benefit obligation in excess of plan assets as of December 31, 2023 and 2022 (dollars in millions):

						2023						2022
Accumulated benefit obligation						$	74					$	66
Fair value of plan assets						—						—

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

The components of net periodic benefit cost, included in other operating expenses on the consolidated statements of income, and other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) were as follows (dollars in millions):

						Pension Benefits																		Other Benefits
						2023						2022						2021						2023						2022						2021
Net periodic benefit cost:
Service cost						$	14					$	17					$	18					$	2					$	3					$	3
Interest cost						10						6						4						3						2						2
Expected return on plan assets						(11)						(12)						(10)						—						—						—
Amortization of net actuarial losses						2						3						6						—						1						2
Amortization of prior service cost (credit)						—						—						—						(2)						(2)						(1)
Settlements						—						—						—						—						—						—
Net periodic benefit cost						15						14						18						3						4						6
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net actuarial (gains) losses						3						(9)						(13)						1						(20)						(6)
Amortization of net actuarial (losses)						(2)						(3)						(6)						—						(1)						(2)
Amortization of prior service (cost) credit						—						—						—						2						2						1
Settlements						—						—						—						—						—						—
Prior service cost (credit)						—						—						—						—						1						(3)
Foreign exchange translations and other adjustments						—						—						—						—						—						—
Total recognized in other comprehensive income (loss)						1						(12)						(19)						3						(18)						(10)
Total recognized in net periodic benefit cost and other comprehensive income (loss)						$	16					$	2					$	(1)					$	6					$	(14)					$	(4)

Schedule of Expected Benefit Payments [Table Text Block]

The following benefit payments, which reflect expected future service as appropriate, are expected to be paid (dollars in millions):

						Pension Benefits						Other Benefits
2024						$	15					$	3
2025						17						3
2026						17						3
2027						19						4
2028						20						4
2029 – 2033						107						21

Defined Benefit Plan, Assumptions [Table Text Block]

The weighted average assumptions used to determine the benefit obligation and net periodic benefit cost were as follows:

						Pension Benefits																		Other Benefits
						2023						2022						2021						2023						2022						2021
Benefit obligation
Discount rate						4.78		%				5.00		%				2.64		%				4.79		%				4.99		%				2.76		%
Rate of compensation increase						4.71		%				4.96		%				4.74		%				n/a						n/a						n/a
Net periodic benefit cost
Discount rate						5.01		%				2.65		%				2.21		%				4.99		%				2.76		%				2.41		%
Expected long-term rate of return on plan assets						7.00		%				6.50		%				6.50		%				n/a						n/a						n/a
Rate of compensation increase						4.97		%				4.75		%				4.71		%				n/a						n/a						n/a

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]

The assumed health care cost trend rates used in measuring the accumulated non-pension postretirement benefit obligation were as follows:

						As of December 31,
						2023						2022
Health care cost trend rates assumed for next year						6.50		%				7.00		%
Ultimate cost trend rate						4.50		%				4.50		%
Year ultimate trend is reached						2028						2028

Schedule of Allocation of Plan Assets [Table Text Block]

The fair values of the Company’s qualified pension plan assets as of December 31, 2023 and 2022 are summarized below (dollars in millions):

						December 31, 2023
												Fair Value Measurement Using:
						Total						Level 1						Level 2						Level 3
Mutual Funds (1)						$	154					$	154					$	—					$	—
Exchange Traded Funds (2)						10						10						—						—
Cash						16						16						—						—
Total						$	180					$	180					$	—					$	—

(1)Mutual funds were invested 23% in U.S. equity funds, 36% in U.S. fixed income funds, 25% in non-U.S. equity funds and 16% in other.

(2)Exchange traded funds were invested 100% in U.S. equity funds.

						December 31, 2022
												Fair Value Measurement Using:
						Total						Level 1						Level 2						Level 3
Mutual Funds (3)						$	158					$	158					$	—					$	—
Cash						—						—						—						—
Total						$	158					$	158					$	—					$	—

(3)Mutual funds were invested 25% in U.S. equity funds, 40% in U.S. fixed income funds, 16% in non-U.S. equity funds and 19% in other.

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