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Pension and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Schedule of Components of Pension Expense and Benefits Cost
The components of pension expense were as follows:
U.S. Plans202320222021
Service cost$13 $19 $20 
Interest cost54 31 25 
Expected return on plan assets(60)(75)(63)
Curtailments and special termination benefits— 1 9 
Amortization of actuarial loss43 44 58 
Amortization of prior service cost1 1 1 
Net periodic cost$51 $21 $50 

Non-U.S. Plans202320222021
Service cost$7 $9 $13 
Interest cost19 13 32 
Expected return on plan assets(22)(22)(72)
Settlements— — 1,511 
Special termination benefits6 — — 
Amortization of actuarial loss3 5 33 
Amortization of prior service credit— (1)— 
Net periodic cost$13 $4 $1,517 
The components of net postretirement benefits cost were as follows:
Other Postretirement Benefits202320222021
Service cost$— $1 $1 
Interest cost6 4 4 
Amortization of prior service credit— (20)(26)
Amortization of actuarial loss— 2 4 
Net periodic benefit cost/(credit)$6 $(13)$(17)
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
 2023202220232022
Projected Benefit Obligations
Benefit obligations at January 1$1,094 $1,413 $387 $513 
Service cost13 19 7 9 
Interest cost54 31 19 13 
Plan participants' contributions— — 2 2 
Amendments1 1 (2)— 
Settlements— (9)(8)(9)
Curtailments— (2)— — 
Special termination benefits— — 6 — 
Actuarial (gain)/loss36 (266)18 (95)
Benefits paid(89)(93)(38)(30)
Foreign currency translation— — 24 (16)
Benefit obligations at December 31$1,109 $1,094 $415 $387 
Plan Assets
Fair value of plan assets at January 1$886 $1,177 $381 $529 
Actual return on plan assets - gain/(loss)81 (199)33 (22)
Employer contributions2 10 17 (63)
Plan participants' contributions— — 2 2 
Settlements— (9)(7)(7)
Benefits paid(89)(93)(38)(31)
Foreign currency translation— — 24 (27)
Fair value of plan assets at December 31$880 $886 $412 $381 
Funded status$(229)$(208)$(3)$(6)
Accumulated benefit obligations at December 31$1,065 $1,055 $389 $361 
Schedule of 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: 
20232022
Projected benefit obligations$1,109 $1,094 
Accumulated benefit obligations1,065 1,055 
Fair value of plan assets880 886 

Non-U.S. pension plans with accumulated benefit obligations in excess of plan assets were as follows: 
20232022
Projected benefit obligations$213 $224 
Accumulated benefit obligations195 204 
Fair value of plan assets117 134 
Schedule of 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: 
20232022
Projected benefit obligations$213 $224 
Accumulated benefit obligations195 204 
Fair value of plan assets117 135 
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, 2023 and 2022 are summarized in the tables below:
 2023
 U.S. plan
assets		Non-U.S. plan
assets		Total
Level 1
Cash and cash equivalents$15 $23 $38 
Global large cap equity— 3 3 
U.S. large cap equity173 4 177 
U.S. mid/small cap equity276 21 297 
Mutual funds – global equity59 — 59 
Mutual funds – U.S. equity49 — 49 
Mutual funds – fixed income18 — 18 
590 51 641 
Level 2
Government issued debt securities— 18 18 
Corporate debt securities41 8 49 
Insurance contracts— 110 110 
Investment funds – fixed income— 1 1 
41 137 178 
Level 3
Investment funds – real estate127 60 187 
Private equity3 — 3 
Real estate – direct27 17 44 
157 77 234 
Total assets in fair value hierarchy788 265 1,053 
Investments measured at NAV Practical Expedient (a)
Investment funds - fixed income86 22 108 
Investment funds - global equity— 118 118 
Investment funds - emerging markets5 — 5 
Investment funds - real estate— 7 7 
 91 147 238 
Total investments at fair value$879 $412 $1,291 
 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 
Investments funds - real estate— 3 3 
73 130 203 
Total investments at fair value$885 $381 $1,266 

(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:
20232022
U.S. plan assets$1 $1 
Schedule of 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).
Private
equity		Real
estate		Total
Balance at January 1, 2022$7 $211 $218 
Foreign currency translation— (9)(9)
Asset returns – assets held at reporting date(2)(9)(11)
Asset returns – assets sold during the period1 9 10 
Purchases, sales and settlements, net(1)45 44 
Balance at December 31, 20225 247 252 
Foreign currency translation— 2 2 
Asset returns – assets held at reporting date18 (24)(6)
Asset returns – assets sold during the period(18)11 (7)
Purchases, sales and settlements, net(2)(5)(7)
Balance at December 31, 2023$3 $231 $234 
Schedule of Additional Information About Pension Plan Assets Valued Using Net Asset Value
The following table presents additional information about the pension plan assets valued using NAV as a practical expedient:
Fair ValueRedemption FrequencyRedemption Notice Period
Balance at December 31, 2023
Investment funds – fixed income$108 Semi-monthly
1- 5 days
Investment funds – global equity118 Daily 10 days
Investment funds – emerging markets5 Daily 30 days
Investment funds – real estate7 Daily1 day
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
Schedule of Pension Assets and Liabilities
Pension assets and liabilities included in the Consolidated Balance Sheets were:
20232022
Non-current assets$94 $88 
Current liabilities12 8 
Non-current liabilities314 294 
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: 
 202320222021
 Net lossPrior
service		Net lossPrior
service		Net lossPrior
service
Balance at January 1$712 $— $814 $2 $1,802 $8 
Reclassification to net periodic benefit cost(46)(1)(49)(1)(1,629)(4)
Current year loss / (gain)22 — (45)(1)640 (2)
Amendments(1)— — — (1)— 
Foreign currency translation(1)— (8)— 2 — 
Balance at December 31$686 $(1)$712 $— $814 $2 
Changes in the net (gain)/ loss and prior service credit for the Company’s postretirement benefit plans were:
 202320222021
 Net (gain) /
loss		Prior
service		Net
loss		Prior
service		Net
loss		Prior
service
Balance at January 1$(2)$— $21 $(20)$45 $(46)
Reclassification to net periodic benefit cost— — (2)20 (4)26 
Current year (gain) / loss— — (22)— (20)— 
Foreign currency translation(1)— 1 — — — 
Balance at December 31$(3)$— $(2)$— $21 $(20)
Schedule of Expected Future Benefit Payments
Expected future benefit payments as of December 31, 2023 are:

 
U.S.
plans		Non-U.S.
plans
2024$91 $32 
2025105 32 
202684 32 
2027105 31 
202880 32 
2029 - 2033376 162 
Expected future benefit payments are as follows:
 Benefit Payments
2024$13 
202510 
202610 
202710 
20289 
2029 - 203341 
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. Plans202320222021
Discount rate5.0 %5.2 %2.9 %
Compensation increase5.0 %5.0 %4.7 %
Non-U.S. Plans202320222021
Discount rate4.8 %4.9 %2.5 %
Compensation increase2.9 %2.7 %2.5 %

The weighted average actuarial assumptions used to calculate pension expense for each year were:
U.S. Plans202320222021
Discount rate - service cost5.4 %3.3 %3.1 %
Discount rate - interest cost5.1 %2.2 %1.7 %
Compensation increase5.0 %4.7 %4.7 %
Long-term rate of return7.2 %6.6 %5.7 %
 
Non-U.S. Plans202320222021
Discount rate - service cost5.0 %2.9 %2.2 %
Discount rate - interest cost5.1 %2.6 %1.8 %
Compensation increase2.9 %2.7 %2.5 %
Long-term rate of return5.1 %4.3 %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:

 
202320222021
Benefit obligations5.0 %5.8 %3.4 %
Service cost5.3 %7.8 %5.9 %
Interest cost4.9 %5.7 %3.6 %
Schedule of Changes in Benefit Obligations
Changes in the benefit obligations were:
20232022
Benefit obligations at January 1$108 $137 
Service cost— 1 
Interest cost6 4 
Actuarial (gain) /loss — (22)
Benefits paid(11)(11)
Foreign currency translation4 (1)
Benefit obligations at December 31$107 $108 
Schedule of Assumed Health Care Cost Trend Rates
The assumed health care cost trend rates at December 31, 2023 were as follows: 
Health care cost trend rate assumed for 20234.7 %
Rate that the cost trend rate gradually declines to3.8 %
Year that the rate reaches the rate it is assumed to remain2032