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Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of components of net periodic pension expense

Net periodic pension expense during 2021 and 2020 for our DB Plans included the following components:

			Year Ended December 31,
(in millions)			2021						2020
Service cost			$	17					$	18
Interest cost			7						10
Expected return on assets			(28)						(26)
Amortization of prior service credit			(1)						(1)
Recognized net actuarial loss			6						6
Curtailments			—						—
(Gain) loss on settlements			198						(1)
Net periodic pension expense(1)			$	199					$	6

Schedule of assumptions for determining projected benefit obligation at year end and net periodic cost for year

			December 31,
			2021			2020
For determining PBO at year-end:
Discount rates			1.20-4.75%			0.80-3.50%
Rates of increase in compensation levels			2.25-5.00%			2.25-6.00%
For determining net periodic cost for the year:
Discount rates			0.80-3.50%			1.20-4.75%
Rates of increase in compensation levels			2.25-6.00%			2.25-6.00%
Expected long-term rates of return on assets			0.80-5.70%			1.20-5.60%

Schedule of change in projected benefit obligation, plan assets and funded status

The following table sets forth the change in PBO, plan assets and funded status of the plans:

						December 31,
(in millions)						2021
Change in PBO:
Benefit obligation at beginning of year						$	870
Service cost						17
Interest cost						7
Employee contributions						3
Currency translation						(32)
Actuarial (gain)/loss (primarily due to plan experience in 2021 and assumption changes in 2020)						52
Benefits paid						(15)
Settlements						(799)
PBO at end of year						103
Change in plan assets:
Plan assets at beginning of year						829
Actual return on plan assets						30
Company contributions						13
Employee contributions						3
Currency translation						(28)
Benefits paid						(15)
Settlements						(799)
Plan assets at end of year						33
Funded status — (Under)/overfunded						$	(70)
Amounts recognized in the Consolidated Balance Sheet:
Pension assets included in other assets						$	—
Pension liabilities included in other accrued liabilities						—
Pension liabilities included in current liabilities related to assets held for sale						(22)
Pension liabilities included in noncurrent liabilities						(48)
AOCI (pre-tax)						$	3
Plans with PBO in excess of plan assets:
PBO						$	103
Plan assets						33
Plans with ABO in excess of plan assets:
ABO						$	40
Plan assets						18

X

- Definition

Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)(b)(c)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

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- Definition

Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (k)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

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