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v3.23.1

RETIREMENT PLANS (Tables) | 3 Months Ended
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Mar. 31, 2023
Retirement Benefits [Abstract] |
Components of net periodic benefit cost | Components of net periodic benefit (credit) cost were as follows:
| First Quarter
| Pension Plans |  | Other Postretirement Benefit Plans
| 2023 |  | 2022 |  | 2023 |  | 2022
(Dollars in millions) | U.S. |  | Non-U.S. |  | U.S. |  | Non-U.S. |  |  |  |
Service cost | $ | 6 |  |  | $ | 2 |  |  | $ | 6 |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |
Interest cost | 19 |  |  | 7 |  |  | 11 |  |  | 4 |  |  | 7 |  |  | 4 |
Expected return on assets | (22) |  |  | (6) |  |  | (32) |  |  | (9) |  |  | (1) |  |  | (1) |
Amortization of: |  |  |  |  |  |  |  |  |  |  |
Prior service credit, net | — |  |  | — |  |  | — |  |  | — |  |  | (7) |  |  | (8) |
Net periodic benefit (credit) cost | $ | 3 |  |  | $ | 3 |  |  | $ | (15) |  |  | $ | (1) |  |  | $ | (1) |  |  | $ | (5) |
Schedule of Expected Benefit Payments | The estimated future benefit payments, reflecting expected future service, as appropriate, are as follows:
| Pension Plans |  | Postretirement Benefit Plans
(Dollars in millions) | U.S. |  | Non-U.S. |  |
Remainder of 2023 | $ | 100 |  |  | $ | 21 |  |  | $ | 35 |
2024 | 135 |  |  | 26 |  |  | 47 |
2025 | 134 |  |  | 28 |  |  | 47 |
2026 | 131 |  |  | 31 |  |  | 46 |
2027 | 136 |  |  | 35 |  |  | 45 |
2028-2032 | 644 |  |  | 187 |  |  | 208 |

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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
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