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Pension and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Components of Pension Expense and Benefits Cost
The components of pension expense were as follows:
U.S. Plans202220212020
Service cost$19 $20 $18 
Interest cost31 25 38 
Expected return on plan assets(75)(63)(73)
Settlements— — 3 
Curtailments and special termination benefits1 9 — 
Amortization of actuarial loss44 58 56 
Amortization of prior service cost1 1 1 
Net periodic cost$21 $50 $43 

Non-U.S. Plans202220212020
Service cost$9 $13 $10 
Interest cost13 32 52 
Expected return on plan assets(22)(72)(107)
Settlements— 1,511 63 
Amortization of actuarial loss5 33 27 
Amortization of prior service credit(1)— — 
Net periodic cost $4 $1,517 $45 
The components of net postretirement benefits cost were as follows:
Other Postretirement Benefits202220212020
Service cost$1 $1 $1 
Interest cost4 4 5 
Amortization of prior service credit(20)(26)(26)
Amortization of actuarial loss2 4 4 
Net periodic benefit credit$(13)$(17)$(16)
Schedule of Projected Benefit Obligations, Accumulated Benefit Obligations, Plan Assets and Funded Status The projected benefit obligations, accumulated benefit obligations, plan assets and funded status of the Company's U.S. and non-U.S. plans were as follows:
 U.S. PlansNon-U.S. Plans
 2022202120222021
Projected Benefit Obligations
Benefit obligations at January 1$1,413 $1,505 $513 $3,172 
Service cost19 20 9 13 
Interest cost31 25 13 32 
Plan participants’ contributions— — 2 2 
Amendments1 2 — (3)
Settlements(9)— (9)(2,982)
Curtailments(2)(10)— (7)
Special termination benefits— 6 — — 
Actuarial (gain) / loss(266)(43)(95)444 
Benefits paid(93)(92)(30)(165)
Foreign currency translation— — (16)7 
Benefit obligations at December 31$1,094 $1,413 $387 $513 
Plan Assets
Fair value of plan assets at January 1$1,177 $1,152 $529 $3,518 
Actual return on plan assets(199)115 (22)(94)
Employer contributions10 2 (63)234 
Plan participants’ contributions— — 2 2 
Settlements(9)— (7)(2,982)
Benefits paid(93)(92)(31)(165)
Foreign currency translation— — (27)16 
Fair value of plan assets at December 31$886 $1,177 $381 $529 
Funded status$(208)$(236)$(6)$16 
Accumulated benefit obligations at December 31$1,055 $1,361 $361 $474 
Information for Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets
U.S. pension plans with accumulated benefit obligations and projected benefit obligations in excess of plan assets were as follows: 
20222021
Projected benefit obligations$1,094 $1,413 
Accumulated benefit obligations1,055 1,361 
Fair value of plan assets886 1,177 

Non-U.S. pension plans with accumulated benefit obligations in excess of plan assets were as follows: 
20222021
Projected benefit obligations$224 $284 
Accumulated benefit obligations204 253 
Fair value of plan assets134 147 
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets
Non-U.S. pension plans with projected benefit obligations in excess of plan assets were as follows: 
20222021
Projected benefit obligations$224 $288 
Accumulated benefit obligations204 257 
Fair value of plan assets135 151 
Schedule of Ranges for Asset Allocation and Summary of Defined Benefit Plan Assets and Accrued Income
The strategic ranges for asset allocation in the U.S. plans are as follows: 
U.S. equities45 %to55 %
International equities7.5 %to12.5 %
Fixed income15 %to25 %
Balanced funds7.5 %to12.5 %
Real estate7.5 %to12.5 %
The levels assigned to the defined benefit plan assets as of December 31, 2022 and 2021 are summarized in the tables below:
 2022
 U.S. plan
assets		Non-U.S. plan
assets		Total
Level 1
Cash and cash equivalents$35 $19 $54 
Global large cap equity— 11 11 
U.S. large cap equity152 2 154 
U.S. mid/small cap equity246 19 265 
Mutual funds – global equity64 — 64 
Mutual funds – U.S. equity52 — 52 
Mutual funds – fixed income54 — 54 
603 51 654 
Level 2
Government issued debt securities— 18 18 
Corporate debt securities42 2 44 
Insurance contracts— 94 94 
Investment funds – fixed income— 1 1 
42 115 157 
Level 3
Investment funds – real estate135 68 203 
Private equity4 1 5 
Real estate – direct28 16 44 
167 85 252 
Total assets in fair value hierarchy812 251 1,063 
Investments measured at NAV Practical Expedient (a)
Investment funds – fixed income68 19 87 
Investment funds – global equity— 108 108 
Investment funds – emerging markets5 — 5 
Investment funds – real estate— 3 3 
 73 130 203 
Total investments at fair value$885 $381 $1,266 
 2021
 U.S. plan
assets		Non-U.S. plan
assets		Total
Level 1
Cash and cash equivalents$68 $21 $89 
Global large cap equity— 8 8 
U.S. large cap equity238 6 244 
U.S. mid/small cap equity332 25 357 
Mutual funds – global equity93 — 93 
Mutual funds – U.S. equity85 — 85 
Mutual funds – fixed income71 — 71 
887 60 947 
Level 2
Government issued debt securities— 17 17 
Corporate debt securities61 3 64 
Insurance contracts— 110 110 
Investment funds – fixed income— 38 38 
61 168 229 
Level 3
Investment funds – real estate79 92 171 
Private equity5 2 7 
Real estate – direct25 15 40 
109 109 218 
Total assets in fair value hierarchy1,057 337 1,394 
Investments measured at NAV Practical Expedient (a)
Investment funds – fixed income112 25 137 
Investment funds – global equity— 167 167 
Investment funds – emerging markets7 — 7 
119 192 311 
Total investments at fair value$1,176 $529 $1,705 

(a) Certain investments that are measured at fair value using the NAV per share practical expedient have not been classified in the fair value hierarchy.

Accrued income excluded from the tables above was as follows:
20222021
U.S. plan assets$1 $1 
Non-U.S. plan assets— — 
Reconciliation of Plan Assets Using Level 3 The following tables reconcile the beginning and ending balances of plan assets measured using significant unobservable inputs (Level 3).
Hedge
funds		Private
equity		Real
estate		Total
Balance at January 1, 2021$2 $51 $307 $360 
Foreign currency translation— — (1)(1)
Asset returns – assets held at reporting date(1)(48)30 (19)
Asset returns – assets sold during the period1 39 3 43 
Purchases, sales and settlements, net(2)(35)(128)(165)
Balance at December 31, 2021— 7 211 218 
Foreign currency translation— — (9)(9)
Asset returns – assets held at reporting date— (2)(9)(11)
Asset returns – assets sold during the period— 1 9 10 
Purchases, sales and settlements, net— (1)45 44 
Balance at December 31, 2022$— $5 $247 $252 
Additional Information About Pension Plan Assets Valued Using Net Asset Value
The following table presents additional information about the pension plan assets valued using net asset value as a practical expedient:
Fair ValueRedemption FrequencyRedemption Notice Period
Balance at December 31, 2022
Investment funds – fixed income$87 Semi-monthly
1- 5 days
Investment funds – global equity108 Daily10 days
Investment funds – emerging markets5 Daily30 days
Investment funds – real estate3 Daily10 days
Balance at December 31, 2021
Investment funds – fixed income$137 Semi-monthly
1- 5 days
Investment funds – global equity167 Daily10 days
Investment funds – emerging markets7 Daily30 days
Schedule of Pension Assets and Liabilities
Pension assets and liabilities included in the Consolidated Balance Sheets were:
20222021
Non-current assets$88 $158 
Current liabilities8 11 
Non-current liabilities294 367 
Schedule of Changes in Net (Gain)/ Loss and Prior Service Cost/(Credit)
Changes in the net loss and prior service cost (credit) for the Company’s pension plans were: 
 202220212020
 Net lossPrior
service		Net lossPrior
service		Net lossPrior
service
Balance at January 1$814 $2 $1,802 $8 $1,808 $8 
Reclassification to net periodic benefit cost(49)(1)(1,629)(4)(150)(1)
Current year loss / (gain)(45)(1)640 (2)118 — 
Amendments— — (1)— — 1 
Foreign currency translation(8)— 2 — 26 — 
Balance at December 31$712 $— $814 $2 $1,802 $8 
Changes in the net (gain)/ loss and prior service credit for the Company’s postretirement benefit plans were:
 202220212020
 Net (gain) /
loss		Prior
service		Net
loss		Prior
service		Net
loss		Prior
service
Balance at January 1$21 $(20)$45 $(46)$42 $(72)
Reclassification to net periodic benefit cost(2)20 (4)26 (4)26 
Current year (gain) / loss(22)— (20)— 7 — 
Foreign currency translation1 — — — — — 
Balance at December 31$(2)$— $21 $(20)$45 $(46)
Schedule of Expected Future Benefit Payments
Expected future benefit payments as of December 31, 2022 are:

 
U.S.
plans		Non-U.S.
plans
2023$91 $30 
2024101 29 
202599 31 
202685 31 
2027106 30 
2028 - 2032389 156 
Expected future benefit payments are as follows:
 Benefit Payments
2023$13 
202411 
202511 
202610 
202710 
2028 - 203242 
Schedule of Benefit Obligations Weighted Average Actuarial Assumptions
The weighted average actuarial assumptions used to calculate the benefit obligations at December 31 were:
U.S. Plans202220212020
Discount rate5.2 %2.9 %2.5 %
Compensation increase5.0 %4.7 %4.7 %
Non-U.S. Plans202220212020
Discount rate4.9 %2.5 %1.4 %
Compensation increase2.7 %2.5 %3.0 %

The weighted average actuarial assumptions used to calculate pension expense for each year were:
U.S. Plans202220212020
Discount rate - service cost3.3 %3.1 %3.6 %
Discount rate - interest cost2.2 %1.7 %2.8 %
Compensation increase4.7 %4.7 %4.7 %
Long-term rate of return6.6 %5.7 %6.8 %
 
Non-U.S. Plans202220212020
Discount rate - service cost2.9 %2.2 %2.6 %
Discount rate - interest cost2.6 %1.8 %1.9 %
Compensation increase2.7 %2.5 %3.0 %
Long-term rate of return4.3 %3.3 %3.3 %
Weighted average discount rates used to calculate the benefit obligations at the end of each year and the cost for each year are presented below:

 
202220212020
Benefit obligations5.8 %3.4 %2.8 %
Service cost7.8 %5.9 %4.1 %
Interest cost5.7 %3.6 %3.3 %
Schedule of Changes in Benefit Obligations Changes in the benefit obligations were:
20222021
Benefit obligations at January 1$137 $163 
Service cost1 1 
Interest cost4 4 
Actuarial (gain) / loss (22)(20)
Benefits paid(11)(10)
Foreign currency translation(1)(1)
Benefit obligations at December 31$108 $137 
Schedule of Assumed Health Care Cost Trend Rates
The assumed health care cost trend rates at December 31, 2022 were as follows: 
Health care cost trend rate assumed for 20224.6 %
Rate that the cost trend rate gradually declines to4.1 %
Year that the rate reaches the rate it is assumed to remain2033