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PENSION AND POSTRETIREMENT BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2024

Retirement Benefits [Abstract]

Schedule of Balance Sheets related to Pension and Postretirement Benefit Plans

The following table shows the amounts recognized on our balance sheets related to pension and postretirement benefit plans, as well as plans that we or our subsidiaries sponsor:

			December 31, 2024												December 31, 2023
			Pension Benefit						Postretirement Benefit						Pension Benefit						Postretirement Benefit
			(in millions)												(in millions)
Amounts recognized on the balance sheet
Other assets			$	67					$	13					$	2					$	—
Accrued liabilities			(1)						(6)						—						(3)
Other long-term liabilities			(6)						(53)						(3)						(33)
			$	60					$	(46)					$	(1)					$	(36)
Accumulated other comprehensive income, net of tax			$	2					$	73					$	2					$	72

Schedule of Funding Status of our Pension and Post-Retirement Benefit Plans

The following table shows the funding status of our pension and post-retirement benefit plans along with a reconciliation of our benefit obligations and changes in fair value of plan assets:

			Year ended December 31,
			2024						2023
			(in millions)
Pension
Changes in the benefit obligation
Benefit obligation—beginning of year			$	34					$	30
Liabilities assumed in the Aera Merger			249						—
Service cost—benefits earned during the period			3						1
Interest cost on projected benefit obligation			8						1
Actuarial (gain) loss(a)			(2)						3
Benefits paid			(20)						(1)
Benefit obligation—end of year			$	272					$	34
Changes in plan assets
Fair value of plan assets—beginning of year			$	34					$	32
Additions due to the Aera Merger			305						—
Actual return on plan assets			10						3
Employer contributions			3						—
Benefits paid			(20)						(1)
Fair value of plan assets—end of year			$	332					$	34
Net benefit asset			$	60					$	—
Postretirement
Changes in the benefit obligation
Benefit obligation—beginning of year			$	37					$	38
Liabilities assumed in the Aera Merger			70						—
Service cost—benefits earned during the period			2						2
Interest cost on projected benefit obligation			4						2
Actuarial gain(b)			(5)						(2)
Cost of special termination benefits			4						—
Curtailment gain			(4)						—
Benefits paid			(5)						(3)
Plan amendment			(3)						—
Benefit obligation—end of year			$	100					$	37
Changes in plan assets
Fair value of plan assets—beginning of year			$	1					$	1
Additions due to the Aera Merger			52						—
Actual gain (loss) on plan assets			2						—
Employer contributions			4						3
Benefits paid			(5)						(3)
Fair value of plan assets—end of year			$	54					$	1
Net benefit liability			$	(46)					$	(36)

(a)The gain reflected in the changes in the pension benefit obligation for the year ended December 31, 2024 was primarily due to movement in the discount rates.

(b)The gain reflected in the changes in the postretirement benefit obligation for the year ended December 31, 2024 was primarily due to movement in the discount rate.

Schedule of Obligations and Assets to our Defined Benefit Pension Plans

The following table sets for the details of our obligations and assets related to our defined benefit pension plans for the years ended December 31:

			2024						2023
			(in millions)
Projected benefit obligation			$	272					$	34
Accumulated benefit obligation			$	268					$	30
Fair value of plan assets			$	332					$	34

Schedule of Net Periodic Pension and Postretirement Benefit Costs

The following table set forth the components of our net periodic pension and postretirement benefit costs:

			Year ended December 31,
			2024						2023						2022
			(in millions)
Pension
Net periodic benefit costs
Service cost—benefits earned during the period			$	3					$	1					$	1
Interest cost on projected benefit obligation			8						1						1
Expected return on plan assets			(13)						(2)						(1)
Net periodic benefit costs			$	(2)					$	—					$	1
Postretirement
Net periodic benefit costs
Service cost—benefits earned during the period			$	2					$	2					$	2
Interest cost on projected benefit obligation			4						2						1
Expected return on plan assets			(2)						—						—
Cost of special termination benefits			4						—						—
Amortization of prior service cost credit			(5)						(5)						(5)
Amortization of net actuarial gain			(1)						(2)						—
Curtailment gain			(4)						(3)						—
Net periodic benefit costs			$	(2)					$	(6)					$	(2)

Schedule of Changes in Plan Assets and Benefit Obligations

The following table presents the changes in plan assets and benefit obligations recognized in other comprehensive (loss) income:

			Year ended December 31,
			2024						2023						2022
			(in millions)
Pension
Net actuarial (gain) loss			$	—					$	(1)					$	4
Total			$	—					$	(1)					$	4
Postretirement
Net actuarial (gain) loss			$	(5)					$	1					$	9
Prior service credit			(3)						—						—
Actuarial net gain due to curtailment			4						—						—
Special termination benefits			(4)						—						—
Amortization of prior service credit due to curtailment			—						(2)						—
Amortization of prior service credit			5						(4)						(4)
Amortization net actuarial gain (loss)			2						(1)						—
Total			$	(1)					$	(6)					$	5

Schedule of Weighted-Average Basis used to our Determine Benefit Obligations

The following table sets forth the valuation assumptions, on a weighted-average basis, used to determine our benefit obligations and net periodic benefit cost:

			Year ended December 31,
			2024						2023
Pension
Benefit Obligation Assumptions
Discount rate			5.61		%				4.98		%
Rate of compensation increase			4.93		%				4.00		%
Interest crediting rate			5.28		%				N/A
Net Periodic Benefit Cost Assumptions
Discount rate			5.22		%				5.19		%
Expected return on assets			7.00		%				6.98		%
Rate of compensation increase			4.96		%				4.00		%
Interest crediting rate			6.37		%				N/A
Postretirement
Benefit Obligation Assumptions
Discount rate			5.50		%				4.99		%
Net Periodic Benefit Cost Assumptions
Discount rate			5.13		%				5.20		%
Expected return on assets			6.99		%				6.50		%

Schedule of Fair Values of our Pension Plan Assets

The fair values of our pension plan assets by asset category are as follows:

			Fair Value Measurements at December 31, 2024
			Level 1						Level 2						Level 3						Total
Asset Class			(in millions)
Comingled funds
Bonds			24						162						—						186
Commodities			17						—						—						17
U.S. equity			—						84						—						84
International equity			24						20						—						44
Total pension plan assets			$	65					$	266					$	—					$	331

			Fair Value Measurements at December 31, 2023
			Level 1						Level 2						Level 3						Total
Asset Class			(in millions)
Commingled funds
Bonds			—						18						—						18
Commodities			—						—						—						—
U.S. equity			—						6						—						6
International equity			—						10						—						10
Total pension plan assets			$	—					$	34					$	—					$	34

The fair values of our postretirement benefit plan assets by asset category are as follows:

			Fair Value Measurements at December 31, 2024
			Level 1						Level 2						Level 3						Total
Asset Class			(in millions)
Comingled funds
Bonds			4						26						—						30
Commodities			3						—						—						3
U.S. equity			—						13						—						13
International equity			4						2						—						6
Total pension plan assets			$	11					$	41					$	—					$	52

Schedule of Estimated Future Undiscounted Benefit Payments

Estimated future undiscounted benefit payments by the plans, which reflect expected future service, as appropriate, are as follows:

			Pension Benefits						Postretirement Benefits
For the years ended December 31,			(in millions)
2025			$	25					$	10
2026			$	17					$	9
2027			$	16					$	9
2028			$	18					$	9
2029			$	17					$	8
2030 - 2034			$	85					$	41

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