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RETIREMENT PLANS AND OTHER BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Net Benefit Costs
Information regarding the Company’s plans, including U.S. SERP, was as follows (in millions, except percent values):
 U.S. Pension BenefitsNon-U.S. Pension BenefitsOther Benefits
 202420232024202320242023
Accumulated benefit obligation at end of year$30 $32 $90 $104   
Change in benefit obligation:     
Benefit obligation at beginning of year$32 $33 $106 $96 $1 $1 
Service cost— — 2 1 — — 
Interest cost2 2 4 5 — — 
Settlements— — (2)— — — 
Actuarial loss (gain)(1)
(1)— (9)4 — — 
Benefits paid(3)(3)(7)(6)— — 
Foreign exchange effect— — (2)6 — — 
Benefit obligation at end of year30 32 92 106 1 1 
Change in plan assets:     
Fair value of plan assets at beginning of year— — 91 81 — — 
Actual return on plan assets— — (7)3 — — 
Settlements— — (2)— — — 
Employer contribution3 3 8 7 — — 
Benefits paid(3)(3)(6)(5)— — 
Foreign exchange effect— — (2)5 — — 
Fair value of plan assets at end of year— — 82 91 — — 
Funded status$(30)$(32)$(10)$(15)$(1)$(1)
Amounts recognized in the statement of financial position are included in:
   
Other assets$— $— $2 $— $— $— 
Other current liabilities2 2 1 1 — — 
Other non-current liabilities28 30 11 14 1 1 
Total liabilities$30 $32 $12 $15 $1 $1 
Amounts recognized in accumulated other comprehensive loss consist of:
     
Actuarial net (gain) loss$(5)$(4)$53 $55 $(1)$(1)
Prior service cost— — 3 3 — — 
Total amounts recognized in accumulated other comprehensive loss
$(5)$(4)$56 $58 $(1)$(1)

(1) Actuarial gain related to U.S. and non-U.S. pension benefits for the years ended December 31, 2024 was due primarily to higher discount rates when compared to the rate used in the prior year.
Schedule of Assumptions Used
 U.S. Pension BenefitsNon-U.S. Pension BenefitsOther Benefits
 202420232022202420232022202420232022
Weighted-average assumptions as of December 31:         
Discount rate(1)
5.73 %5.34 %5.43 %5.20 %4.35 %4.68 %5.66 %5.38 %5.33 %
Expected return on plan assetsN/AN/AN/A4.68 %3.93 %3.94 %N/AN/AN/A
Rate of compensation increase(1)
N/AN/AN/A0.37 %0.31 %0.26 %N/AN/AN/A

(1) The weighted average assumptions as of December 31 are used to calculate the funded status at the end of the current year and the net periodic cost for the subsequent year.
Schedule of Net Periodic Benefit Cost Not yet Recognized
 U.S. Pension BenefitsNon-U.S. Pension BenefitsOther Benefits
 202420232022202420232022202420232022
Components of net periodic cost:
Service cost$— $— $— $2 $1 $1 $— $— $— 
Interest cost2 2 1 4 5 3 — — — 
Expected return on plan assets— — — (4)(3)(5)— — — 
Amortization of actuarial loss— — — 3 2 1 — — — 
Other— — — (1)— — — — — 
Net periodic cost$2 $2 $1 $4 $5 $— $— $— $— 
Schedule of Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
U.S. Pension BenefitsNon-U.S. Pension BenefitsOther Benefits
 202420232024202320242023
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss):
    
Net (gain) loss$(1)$— $1 $4 $— $— 
Amortization of actuarial gain (loss)— — (2)(2)— — 
Foreign exchange effect— — (1)3 — — 
Total recognized in other comprehensive income (loss)
$(1)$— $(2)$5 $— $— 
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
For the Company’s plans, including the U.S. SERP, that have accumulated benefit obligations in excess of plan assets, the projected benefit obligation, accumulated benefit obligation and fair value of plan assets were (in millions):
U.S. Pension
Benefits
Non-U.S. Pension Benefits
2024202320242023
Projected benefit obligation$30 $32 $92 $106 
Accumulated benefit obligation$30 $32 $90 $104 
Fair value of plan assets$— $— $82 $91 
Schedule of Fair Value of Plan Assets by Measurement Levels
The fair value of the Company’s plan assets at December 31, 2024 are as follows (in millions):
Non-U.S. Pension Plans
 TotalLevel 1Level 2Level 3
Cash, including money market funds$2 $2 $— $— 
Non-U.S. corporate bond funds2 — 2 — 
Non-U.S. governmental fixed income funds38 — 38 — 
Group annuity insurance contracts18 — — 18 
Real estate3 — 3 — 
Other securities19 — 19 — 
Total investments measured at fair value$82 $2 $62 $18 
 

The fair value of the Company’s plan assets at December 31, 2023 are as follows (in millions):
Non-U.S. Pension Plans
 TotalLevel 1Level 2Level 3
Cash, including money market funds$1 $1 $— $— 
U.S. equities4 — 4 — 
Non-U.S. equities2 — 2 — 
Non-U.S. corporate bond funds2 — 2 — 
Non-U.S. governmental fixed income funds36 — 36 — 
Group annuity insurance contracts21 — — 21 
Real estate3 — 3 — 
Other securities22 — 22 — 
Total investments measured at fair value$91 $1 $69 $21 
Schedule of changes in fair value measurements of Level 3 investments
Changes in fair value measurements of Level 3 investments during the years ended December 31, 2024 and 2023 are as follows (in millions):
December 31, 2024December 31, 2023
Balance at beginning of year$21 $21 
Actuarial gain (loss)(1)— 
Interest Income1 1 
Transfers into (out of) Level 3(2)(2)
Foreign exchange effect(1)1 
Balance at end of year$18 $21 
Schedule of Expected Benefit Payments The Company’s estimated future benefit payments under its plans are as follows (in millions):
Year Ending December 31,U.S. Pension BenefitsNon-U.S. Pension BenefitsOther Benefits
2025$3 $6 $— 
20263 6 — 
20272 6 — 
20282 7 — 
20292 7 — 
2029-203312 29 —