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BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Schedule of Reconciliations of Changes in the Defined Benefit and Postretirement Healthcare Plans' Benefit Obligations, Fair Value of Assets and Statement of Funded Status
Reconciliation of changes in the defined benefit obligations, fair value of assets and statement of funded status were as follows:
     
Year Ended December 31,
(in millions) 2021 2020
Change in Benefit Obligation    
Benefit obligation at beginning of year $ 675  $ 578 
Service cost 17  16 
Interest cost 3  5 
Participant contributions 4  4 
Actuarial losses (gains) (16) 31 
Plan amendments (1) — 
Acquisitions/Divestitures (2) — 
Effect of exchange rate changes (41) 59 
Plan curtailments and settlements (1) (1)
Benefits paid (19) (17)
Benefit obligation at end of year $ 619  $ 675 
Change in Plan Assets    
Fair value of plan assets at beginning of year $ 213  $ 185 
Actual return on assets 10  9 
Plan settlements (1) — 
Acquisitions/Divestitures (3) — 
Effect of exchange rate changes (7) 17 
Employer contributions 15  15 
Participant contributions 4  4 
Benefits paid (19) (17)
Fair value of plan assets at end of year $ 212  $ 213 
Funded status at end of year $ (407) $ (462)
Schedule of Amounts Recognized in the Accompanying Consolidated Balance Sheets, Net of Tax Effects
The amounts recognized in the accompanying Consolidated Balance Sheets, net of tax effects, were as follows:
Location In The Year Ended December 31,
(in millions) Consolidated Balance Sheets 2021 2020
Other noncurrent assets, net Other noncurrent assets $ 2  $ — 
Deferred tax asset Other noncurrent assets 36  49 
Total assets $ 38  $ 49 
Current liabilities Accrued liabilities (9) (10)
Other noncurrent liabilities Other noncurrent liabilities (400) (452)
Deferred tax liability Deferred income taxes (1) (1)
Total liabilities $ (410) $ (463)
Accumulated other comprehensive income Accumulated other comprehensive loss 105  139 
Net amount recognized $ (267) $ (275)
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income
Amounts recognized in AOCI were as follows:
     
  Year Ended December 31,
(in millions) 2021 2020
Net actuarial loss $ 144  $ 191 
Net prior service cost (4) (4)
Before tax AOCI $ 140  $ 187 
Less: Deferred taxes 35  48 
Net of tax AOCI $ 105  $ 139 
Schedule of Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets
Information for pension plans with a projected or accumulated benefit obligation in excess of plan assets were as follows:
Year Ended December 31,
(in millions) 2021 2020
Projected benefit obligation $ 427  $ 484 
Accumulated benefit obligation 403  455 
Fair value of plan assets 17  26 
Schedule of Components of Net Periodic Benefit Cost

Components of net periodic benefit cost were as follows:
  Year Ended December 31, Location in Consolidated
(in millions) 2021 2020 2019 Statements of Operations
Service cost $ 7  $ 6  $ 6  Cost of products sold
Service cost 10  10  8  Selling, general and administrative expenses
Interest cost 3  5  8  Other expense (income), net
Expected return on plan assets (4) (4) (5) Other expense (income), net
Amortization of prior service credit (1) (1) (1) Other expense (income), net
Amortization of net actuarial loss 12  9  6  Other expense (income), net
Acquisitions/Divestitures 1  —  —  Other expense (income), net
Curtailment and settlement (gains) loss (1) —  6  Other expense (income), net
Net periodic benefit cost $ 27  $ 25  $ 28 
Schedule of Other Changes in Plan Assets and Benefit Obligations Recognized in AOCI

Other changes in plan assets and benefit obligations recognized in AOCI were as follows:
  Year Ended December 31,
(in millions) 2021 2020 2019
Net actuarial loss (gain) $ (36) $ 43  $ 53 
Amortization (11) (9) (5)
Total recognized in AOCI $ (47) $ 34  $ 48 
Total recognized in net periodic benefit cost and AOCI
 $ (20) $ 59  $ 76 
Schedule of Weighted Average Assumptions Used to Determine Benefit Obligations, Principally in Foreign Locations

The weighted average assumptions used to determine benefit obligations for the Company’s plans, principally in foreign locations were as follows:
Year Ended December 31,
2021 2020 2019
Interest crediting rate 1.3  % 1.3  % 1.3  %
Discount rate 1.1  % 0.6  % 1.0  %
Rate of compensation increase 2.6  % 2.4  % 2.5  %
Schedule of Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost

The weighted average assumptions used to determine net periodic benefit cost for the Company’s plans, principally in foreign locations were as follows:
Year Ended December 31,
2021 2020 2019
Interest crediting rate 1.3  % 1.3  % 1.3  %
Discount rate 0.6  % 1.0  % 1.8  %
Expected return on plan assets 2.2  % 2.3  % 2.9  %
Rate of compensation increase 2.4  % 2.5  % 2.5  %
Measurement date 12/31/2021 12/31/2020 12/31/2019
Schedule of Fair Value Measurements of Plan Assets
The fair value of the Company’s pension plan assets at December 31, 2021 and 2020 is presented in the table below by asset category. Approximately 78% of the total plan assets are categorized as Level 1, and therefore, the values assigned to these pension assets are based on quoted prices available in active markets. For the other category levels, a description of the valuation is provided in Note 1, Significant Accounting Policies and Restatement, under the “Fair Value Measurement” heading.
  December 31, 2021
(in millions) Total Level 1 Level 2 Level 3
Assets Category        
Cash and cash equivalents $ 17  $ 17  $ —  $ — 
Equity securities:        
International 65  65  —  — 
Fixed income securities:        
Fixed rate bonds (a)
 66  66  —  — 
Other types of investments:        
Mutual funds (b)
 18  18  —  — 
Insurance contracts 34  —  —  34 
Hedge funds 11  —  —  11 
Real estate 1  —  —  1 
Total $ 212  $ 166  $ —  $ 46 
  December 31, 2020
(in millions) Total Level 1 Level 2 Level 3
Assets Category        
Cash and cash equivalents $ 16  $ 16  $ —  $ — 
Equity securities:        
International 58  58  —  — 
Fixed income securities:        
Fixed rate bonds (a)
 65  65  —  — 
Other types of investments:        
Mutual funds (b)
 20  20  —  — 
Common trusts (c)
 5  —  5  — 
Insurance contracts 37  —  —  37 
Hedge funds 12  —  —  12 
Total $ 213  $ 159  $ 5  $ 49 
(a) This category includes fixed income securities invested primarily in Swiss bonds, foreign bonds denominated in Swiss francs, foreign currency bonds, mortgage notes and pledged letters.
(b) This category includes mutual funds balanced between moderate-income generation and moderate capital appreciation with investment allocations of approximately 50% equities and 50% fixed income investments.
(c) This category includes common/collective funds with investments in approximately 65% equities and 35% in fixed income investments.
Schedule of Reconciliation for the Plans Assets Categorized as Level 3
A reconciliation from December 31, 2020 to December 31, 2021 for the plan assets categorized as Level 3 were as follows:
December 31, 2021
(in millions)
Insurance
Contracts
Hedge
Funds
Real
Estate
 Total
Balance at December 31, 2020 $ 37  $ 12  $ —  $ 49 
Actual return on plan assets:        
Relating to assets still held at the reporting date (2) 1  1  — 
Purchases, sales and settlements, net (1) (2) —  (3)
Transfers in and/or (out) 2  —  —  2 
Effect of exchange rate changes (2) —  —  (2)
Balance at December 31, 2021 $ 34  $ 11  $ 1  $ 46 


December 31, 2020
(in millions)
Insurance
Contracts
Hedge
Funds
Real
Estate
 Total
Balance at December 31, 2019 $ 30  $ 9  $ —  $ 39 
Actual return on plan assets:        
Relating to assets still held at the reporting date 3  —  —  3 
Purchases, sales and settlements, net —  2  —  2 
Effect of exchange rate changes 4  1  —  5 
Balance at December 31, 2020 $ 37  $ 12  $ —  $ 49 
Schedule of Estimated Future Benefit Payments
Estimated Future Benefit Payments

Total benefits expected to be paid from the plans in the future were as follows:
(in millions)
Pension
Benefits
2022 $ 23 
2023 24 
2024 24 
2025 25 
2026 25 
2027-2031 127