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RETIREMENT PLANS (Tables)

6 Months Ended

Jun. 30, 2023

Retirement Benefits [Abstract]

Components of net periodic benefit cost

Components of net periodic benefit (credit) cost were as follows:

			Second 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			$	5					$	2					$	6					$	3					$	—					$	—
Interest cost			20						7						11						4						6						3
Expected return on assets			(22)						(7)						(32)						(8)						(1)						(1)
Amortization of:
Prior service credit, net			—						—						—						—						(6)						(8)
Mark-to-market pension and other postretirement benefits (gain) loss (1)			—						—						7						(10)						—						—
Net periodic benefit (credit) cost			$	3					$	2					$	(8)					$	(11)					$	(1)					$	(6)
			First Six Months
			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			$	11					$	4					$	12					$	7					$	—					$	—
Interest cost			39						14						22						8						13						7
Expected return on assets			(44)						(13)						(64)						(17)						(2)						(2)
Amortization of:
Prior service credit, net			—						—						—						—						(13)						(16)
Mark-to-market pension and other postretirement benefits (gain) loss (1)			—						—						7						(10)						—						—
Net periodic benefit (credit) cost			$	6					$	5					$	(23)					$	(12)					$	(2)					$	(11)

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- References

No definition available.

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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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