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RETIREMENT PLANS (Tables) | 6 Months Ended
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Jun. 30, 2024
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
| 2024 |  | 2023 |  | 2024 |  | 2023
(Dollars in millions) | U.S. |  | Non-U.S. |  | U.S. |  | Non-U.S. |  |  |  |
Service cost | $ | 6 |  |  | $ | 2 |  |  | $ | 5 |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |
Interest cost | 19 |  |  | 6 |  |  | 20 |  |  | 7 |  |  | 6 |  |  | 6 |
Expected return on assets | (24) |  |  | (7) |  |  | (22) |  |  | (7) |  |  | (2) |  |  | (1) |
Amortization of: |  |  |  |  |  |  |  |  |  |  |
Prior service credit, net | — |  |  | — |  |  | — |  |  | — |  |  | (2) |  |  | (6) |
Net periodic benefit (credit) cost | $ | 1 |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | (1) |
| First Six Months
| Pension Plans |  | Other Postretirement Benefit Plans
| 2024 |  | 2023 |  | 2024 |  | 2023
(Dollars in millions) | U.S. |  | Non-U.S. |  | U.S. |  | Non-U.S. |  |  |  |
Service cost | $ | 11 |  |  | $ | 4 |  |  | $ | 11 |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |
Interest cost | 37 |  |  | 12 |  |  | 39 |  |  | 14 |  |  | 12 |  |  | 13 |
Expected return on assets | (48) |  |  | (14) |  |  | (44) |  |  | (13) |  |  | (3) |  |  | (2) |
Amortization of: |  |  |  |  |  |  |  |  |  |  |
Prior service credit, net | — |  |  | — |  |  | — |  |  | — |  |  | (5) |  |  | (13) |
Net periodic benefit (credit) cost | $ | — |  |  | $ | 2 |  |  | $ | 6 |  |  | $ | 5 |  |  | $ | 4 |  |  | $ | (2) |

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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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