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Employee Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of retirement plan expenses

The Company's expense for all defined benefit pension plans, is as follows:

			U.S. Plans																		Non-U.S. Plans
			Year Ended December 31,																		Year Ended December 31,
(In millions, except percentages)			2022						2021						2020						2022						2021						2020
Costs Recognized in Income:
Pension service cost:
Service cost			$	—					$	—					$	—					$	(1)					$	(1)					$	(2)
Pension financing benefit (cost):
Interest cost			(20)						(17)						(24)						(6)						(5)						(7)
Expected return on plan assets			39						37						40						9						8						8
Amortization of losses and other			(1)						(3)						(1)						(1)						(2)						(2)
Settlements and curtailments			—						—						(5)						—						—						—
Restructuring related pension cost:
Special termination benefits			—						—						(3)						—						(1)						(4)
Net pension income (expense)			$	18					$	17					$	7					$	1					$	(1)					$	(7)
Weighted Average Assumptions:
Discount rate			2.93		%				2.60		%				3.34		%				2.31		%				1.78		%				2.39		%
Compensation increase			NA						N/A						N/A						2.30		%				2.14		%				3.16		%
Long-term return on assets			6.23		%				6.15		%				6.60		%				3.70		%				3.30		%				3.98		%

Schedule of accumulated benefit obligations in excess of fair value of plan assets

The benefit plan obligations for employee retirement plans with accumulated benefit obligations in excess of plan assets were as follows:

			Year Ended December 31,
(In millions)			2022						2021
Accumulated benefit obligation			$	641					$	892
Projected benefit obligation			$	643					$	895
Fair value of plan assets			$	546					$	711

Schedule of accumulated and projected benefit obligations

Assumptions used by the Company in determining its defined benefit pension obligations as of December 31, 2022 and 2021 are summarized in the following table:

						U.S. Plans												Non-U.S. Plans
						Year Ended December 31,												Year Ended December 31,
Weighted Average Assumptions						2022						2021						2022						2021
Discount rate						5.51		%				2.93		%				5.30		%				2.31		%
Rate of increase in compensation						NA						N/A						2.69		%				2.30		%

Schedule of defined benefit plans disclosures

The Company’s obligation for all defined benefit pension plans, is as follows:

			U.S. Plans												Non-U.S. Plans
			Year Ended December 31,												Year Ended December 31,
(In millions)			2022						2021						2022						2021
Change in Benefit Obligation:
Benefit obligation — beginning			$	829					$	891					$	299					$	322
Service cost			—						—						1						1
Interest cost			20						17						6						5
Actuarial loss (gain)			(203)						(40)						(99)						(10)
Settlements			—						—						(1)						(4)
Special termination benefits			—						—						—						1
Foreign exchange translation			—						—						(23)						(9)
Benefits paid and other			(43)						(39)						(5)						(7)
Benefit obligation — ending			$	603					$	829					$	178					$	299
Change in Plan Assets:
Plan assets — beginning			$	693					$	659					$	258					$	250
Actual return on plan assets			(118)						61						(80)						16
Sponsor contributions			—						12						7						8
Settlements			—						—						(1)						(4)
Foreign exchange translation			—						—						(21)						(5)
Benefits paid and other			(43)						(39)						(6)						(7)
Plan assets — ending			$	532					$	693					$	157					$	258
Total funded status at end of period			$	(71)					$	(136)					$	(21)					$	(41)
Balance Sheet Classification:
Other non-current assets			—						$	—					$	4					$	7
Accrued employee liabilities			—						—						—						(1)
Employee benefits			(71)						(136)						(25)						(47)
Accumulated other comprehensive loss:
Actuarial loss			14						59						17						32
Tax effects/other			$	—					—						(6)						(10)
			$	14					$	59					$	11					$	22

Schedule of amounts recognized in other comprehensive income (loss)

Components of the net change in AOCI related to all defined benefit pension plans, exclusive of amounts attributable to non-controlling interests on the Company’s Consolidated Statements of Changes in Equity for the years ended December 31, 2022 and 2021, are as follows:

			U.S. Plans												Non-U.S. Plans
			Year Ended December 31,												Year Ended December 31,
(In millions)			2022						2021						2022						2021
Actuarial (gain) loss			$	(44)					$	(65)					$	(10)					$	(18)
Deferred taxes			—						—						4						4
Currency/other			—						—						(3)						—
Reclassification to net income			(1)						(3)						(1)						(2)
Settlements			—						—						(1)						—
			$	(45)					$	(68)					$	(11)					$	(16)

Schedule of expected benefit payments

Benefit payments, which reflect expected future service, are expected to be paid by the Company plans as follows:

(In millions)			U.S. Plans						Non-U.S. Plans
2023			$	37					$	7
2024			37						8
2025			39						7
2026			39						7
2027			40						8
Years 2028 - 2032			219						50

Schedule of allocation of plan assets

The Company’s retirement plan asset allocation as of December 31, 2022 and 2021 and target allocation for 2023 are as follows:

			Target Allocation												Percentage of Plan Assets
			U.S.						Non-U.S.						U.S.												Non-U.S.
			2023						2023						2022						2021						2022						2021
Equity securities			38		%				31		%				31		%				38		%				9		%				15		%
Fixed income			15		%				41		%				11		%				14		%				65		%				63		%
Alternative strategies			46		%				8		%				56		%				47		%				12		%				11		%
Cash			1		%				9		%				2		%				1		%				2		%				4		%
Other			—		%				11		%				—		%				—		%				12		%				7		%
			100		%				100		%				100		%				100		%				100		%				100		%

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