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Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2024

Retirement Benefits [Abstract]

Schedule of Net Funded Status

The following table reconciles the Company's funded status, both domestic and foreign, as of the periods indicated (in millions):

						2024												2023
						U.S.						Foreign						U.S.						Foreign
Change in projected benefit obligation:
Benefit obligation as of January 1						$	875					$	190					$	914					$	177
Service cost						8						3						8						4
Interest cost						43						17						47						21
Plan amendments						7						—						2						—
Plan settlements						—						(3)						—						(1)
Benefits paid						(61)						(11)						(115)						(15)
Divestitures						—						(99)						—						—
Actuarial loss (gain)						(30)						(6)						19						(2)
Effect of foreign currency exchange rate changes						—						(20)						—						6
Benefit obligation as of December 31						$	842					$	71					$	875					$	190
Change in plan assets:
Fair value of plan assets as of January 1						$	883					$	127					$	911					$	114
Actual return on plan assets						13						7						80						10
Employer contributions						8						8						8						9
Plan settlements						—						(3)						—						(1)
Benefits paid						(60)						(11)						(116)						(15)
Divestitures						—						(100)						—						—
Effect of foreign currency exchange rate changes						—						(14)						—						10
Fair value of plan assets as of December 31						$	844					$	14					$	883					$	127
Reconciliation of funded status:
Funded status as of December 31						$	2					$	(57)					$	8					$	(63)

Schedule of Amounts Recognized in Balance Sheet

The following table summarizes the amounts recognized on the Consolidated Balance Sheets related to the funded status of the DB Plans, both domestic and foreign, as of the dates indicated (in millions):

December 31,						2024												2023
Amounts Recognized on the Consolidated Balance Sheets						U.S.						Foreign						U.S.						Foreign
Noncurrent assets						$	25					$	3					$	41					$	10
Accrued benefit liability—current						—						(8)						—						(9)
Accrued benefit liability—noncurrent						(23)						(52)						(33)						(64)
Net amount recognized at end of year						$	2					$	(57)					$	8					$	(63)

Schedule of Accumulated and Projected Benefit Obligations

The following table summarizes the Company's U.S. and foreign accumulated benefit obligation as of the dates indicated (in millions):

December 31,			2024												2023
			U.S.						Foreign						U.S.						Foreign
Accumulated benefit obligation			$	829					$	64					$	860					$	182
Information for pension plans with an accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation			$	301					$	59					$	316					$	174
Fair value of plan assets			285						3						292						107
Information for pension plans with a projected benefit obligation in excess of plan assets:
Projected benefit obligation			$	308					$	64					$	325					$	180
Fair value of plan assets			285						3						292						107

Schedule of Assumptions Used

The following table summarizes the significant weighted average assumptions used in the calculation of benefit obligation and net periodic benefit cost, both domestic and foreign, as of the periods indicated:

December 31,						2024												2023
						U.S.						Foreign						U.S.						Foreign
Benefit Obligation:			Discount rate			5.64		%				9.74		%				5.17		%				11.14		%
			Rate of compensation increase			2.75		%				5.32		%				2.75		%				8.01		%
Periodic Benefit Cost:			Discount rate			5.17		%				11.14		%	(1)			5.41		%				13.23		%	(1)
			Expected long-term rate of return on plan assets			5.21		%				9.28		%				5.55		%				9.44		%
			Rate of compensation increase			2.75		%				8.01		%				2.75		%				11.06		%

_____________________________

(1)Includes an inflation factor that is used to calculate future periodic benefit cost, but is not used to calculate the benefit obligation.

Impact Of One Percent Change In Assumptions

The impact on pension expense from a one percentage point change in these assumptions is shown in the following table (in millions):

Increase of 1% in the discount rate						$	(4)
Decrease of 1% in the discount rate						4
Increase of 1% in the long-term rate of return on plan assets						(10)
Decrease of 1% in the long-term rate of return on plan assets						10

Schedule of Net Benefit Costs

The following table summarizes the components of the net periodic benefit cost, both domestic and foreign, for the years indicated (in millions):

December 31,						2024												2023												2022
Components of Net Periodic Benefit Cost:						U.S.						Foreign						U.S.						Foreign						U.S.						Foreign
Service cost						$	8					$	3					$	8					$	4					$	14					$	4
Interest cost						43						17						47						21						28						17
Expected return on plan assets						(46)						(9)						(52)						(11)						(53)						(7)
Amortization of prior service cost						3						—						3						—						4						—
Amortization of net loss						7						—						7						—						8						1
Total Net Periodic Benefit Cost						$	15					$	12					$	13					$	14					$	1					$	15

Schedule of Net Periodic Benefit Cost Not yet Recognized

The following table summarizes the amounts reflected in AOCL, including AOCL attributable to noncontrolling interests, on the Consolidated Balance Sheet as of December 31, 2024, that have not yet been recognized as components of net periodic benefit cost (in millions):

December 31, 2024			Accumulated Other Comprehensive Income (Loss)
			U.S.						Foreign
Prior service cost			$	(2)					$	1
Unrecognized net actuarial loss			(22)						(11)
Total			$	(24)					$	(10)

Target / Actual Allocation Of Pension Plan Asset

The following table summarizes the Company's target allocation for 2024 and pension plan asset allocation, both domestic and foreign, as of the dates indicated:

																		Percentage of Plan Assets as of December 31,
						Target Allocations												2024												2023
Asset Category						U.S.						Foreign						U.S.						Foreign						U.S.						Foreign
Mutual Funds
			Equity securities			21.80%						—%						22.00		%				—		%				21.80		%				5.30		%
			Debt securities			78.20%						100.00%						77.00		%				100.00		%				77.60		%				89.30		%
Real estate						—%						—%						—		%				—		%				—		%				0.80		%
Other						—%						—%						1.00		%				—		%				0.60		%				4.60		%
Total pension assets																		100.00		%				100.00		%				100.00		%				100.00		%

Schedule of Allocation of Plan Assets

The asset allocation is reviewed periodically to determine a suitable asset allocation which seeks to manage risk through portfolio diversification and takes into account the above-stated objectives, in conjunction with current funding levels, cash flow conditions, and economic and industry trends. The following table summarizes the Company's U.S. DB Plan assets by category of investment and level within the fair value hierarchy as of the dates indicated (in millions):

						December 31, 2024																								December 31, 2023
U.S. Plans						Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3						Total
Mutual Funds			Equity securities (1)			$	—					$	193					$	—					$	193					$	—					$	193					$	—					$	193
			Debt securities (1)			—						646						—						646						—						685						—						685
Cash and cash equivalents						5						—						—						5						5						—						—						5
Total plan assets						$	5					$	839					$	—					$	844					$	5					$	878					$	—					$	883

_____________________________

(1)For the U.S. plans, the balances under the equity securities and debt securities categories represent investments through common collective trusts, for which the underlying investments are equity and debt securities.

Fair Value Of Plan Assets By Category / Level (Foreign)

The investment strategy of the foreign DB Plans seeks to maximize return on investment while minimizing risk. The assumed asset allocation has less exposure to equities in order to closely match market conditions and near term forecasts. The following table summarizes the Company's foreign DB plan assets by category of investment and level within the fair value hierarchy as of the dates indicated (in millions):

						December 31, 2024																								December 31, 2023
Foreign Plans						Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3						Total
Equity Securities			Private equity			$	—					$	—					$	—					$	—					$	—					$	—					$	2					$	2
Mutual Funds			Equity securities (1)			—						—						—						—						—						5						—						5
			Debt securities (1)			—						14						—						14						40						73						—						113
Real estate			Real estate			—						—						—						—						—						—						1						1
Other			Other assets			—						—						—						—						1						3						2						6
Total plan assets						$	—					$	14					$	—					$	14					$	41					$	81					$	5					$	127

_____________________________

(1)Mutual funds categorized as debt securities and equity securities consist of mutual funds for which debt securities and equity securities are the primary underlying investment.

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

The following table summarizes the estimated cash flows for U.S. and foreign expected employer contributions and expected future benefit payments, both domestic and foreign (in millions):

						U.S.						Foreign
Expected employer contribution in 2025						$	8					$	8
Expected benefit payments for fiscal year ending:
2025						65						10
2026						65						7
2027						65						9
2028						66						9
2029						66						10
2030 - 2034						322						65

Scheduled Cash Flows For Employer Contributions And Expected Future Benefit Payments

The following table summarizes the estimated cash flows for U.S. and foreign expected employer contributions and expected future benefit payments, both domestic and foreign (in millions):

						U.S.						Foreign
Expected employer contribution in 2025						$	8					$	8
Expected benefit payments for fiscal year ending:
2025						65						10
2026						65						7
2027						65						9
2028						66						9
2029						66						10
2030 - 2034						322						65

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