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RETIREMENT PLANS (Tables)

3 Months Ended

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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- References

No definition available.

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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

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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

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