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PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of amounts recognized in accumulated other comprehensive loss

The amounts included in Accumulated other comprehensive loss as of December 31, 2022 and 2021 were as follows:

						Pension Benefit Plans																								U.S. Postretirement Benefit Plan
						U.S. Plan												Non-U.S. Plans
(in millions)						2022						2021						2022						2021						2022						2021
Unrecognized actuarial (losses) gains						$	(35)					$	(18)					$	(21)					$	(42)					$	3					$	(2)
Unrecognized prior service credits						$	—					$	—					$	23					$	25					$	6					$	8

Components of net periodic benefit cost

The table below provides the components of net periodic (benefit) cost for the Company’s defined benefit pension plans and postretirement benefit plan in 2022, 2021 and 2020:

						Pension Benefit Plans																																				U.S. Postretirement Benefit Plan
						U.S. Plan																		Non-U.S. Plans
(in millions)						2022						2021						2020						2022						2021						2020						2022						2021						2020
Service cost						$	1					$	1					$	1					$	4					$	3					$	3					$	—					$	—					$	—
Interest cost						5						4						6						4						4						4						1						1						1
Expected return on plan assets						(10)						(11)						(13)						(4)						(5)						(5)						—						—						—
Amortization of net loss						—						—						—						1						2						2						—						—						—
Amortization of prior service credit						—						—						—						(1)						(1)						(1)						(2)						(3)						(3)
Settlement loss recognized						1						—						—						8						8						—						—						—						—
Net periodic (benefit) cost						$	(3)					$	(6)					$	(6)					$	12					$	11					$	3					$	(1)					$	(2)					$	(2)

Components of the change in projected benefit obligations, change in plan assets and funded status

The table below presents components of the change in projected benefit obligation, change in plan assets and funded status for 2022 and 2021:

						Pension Benefit Plans																								U.S. Postretirement Benefit Plan
						U.S. Plan												Non-U.S. Plans
(in millions)						2022						2021						2022						2021						2022						2021
Change in Projected Benefit Obligation
Projected benefit obligation, beginning of year						$	220					$	236					$	228					$	294					$	35					$	39
Service cost						1						1						4						3						—						—
Interest cost						5						4						4						4						1						1
Settlements						(7)						(4)						(50)						(43)						—						—
Benefits paid						(11)						(11)						(4)						(4)						(4)						(3)
Actuarial gain						(36)						(6)						(54)						(8)						(5)						(2)
Currency translation adjustments						—						—						(15)						(18)						—						—
Projected benefit obligation, end of year						172						220						113						228						27						35
Change in Plan Assets
Fair value of plan assets, beginning of year						224						231						175						189						—						—
Actual return on plan assets						(44)						8						(41)						18						—						—
Company contributions						—						—						25						28						4						3
Settlements						(7)						(4)						(50)						(43)						—						—
Benefits paid						(11)						(11)						(4)						(4)						(4)						(3)
Currency translation adjustments						—						—						(12)						(13)						—						—
Fair value of plan assets, end of year						162						224						93						175						—						—
Funded status, end of year						$	(10)					$	4					$	(20)					$	(53)					$	(27)					$	(35)
Recognized as:
Other non-current assets						$	—					$	4					$	22					$	—					$	—					$	—
Accrued and other current liabilities						$	—					$	—					$	3					$	2					$	4					$	4
Other non-current liabilities						$	10					$	—					$	38					$	51					$	23					$	31

Schedule of underfunded plans

Information for the underfunded pension benefit plans is as follows:

						U.S. Plan												Non-U.S. Plans
(in millions)						2022						2021						2022						2021
Projected benefit obligation						$	172					$	—					$	48					$	228
Accumulated benefit obligation						172						—						40						219
Fair value of plan assets						162						—						7						175

Future benefit payments for the pension benefit plans

Future benefit payments over the next 10 years for the pension benefit plans and the postretirement benefit plan, which reflect expected future service, as appropriate, are expected to be paid as follows:

(in millions)						Pension Benefit Plans												U.S. Postretirement  Benefit  Plan
						U.S. Plan						Non-U.S. Plans
2023						$	14					$	7					$	4
2024						18						6						3
2025						17						6						3
2026						16						6						3
2027						17						6						3
2028-2032						70						37						10

Weighted-average assumptions used to determine net periodic benefit costs and benefit obligations

The weighted-average assumptions used to determine net periodic benefit costs and benefit obligations for 2022, 2021 and 2020 were as follows:

						Pension Benefit Plans																		U.S. Postretirement Benefit Plan
						2022						2021						2020						2022						2021						2020
For Determining Net Periodic (Benefit) Cost
U.S. Plans:
Discount rate						2.69		%				2.25		%				3.16		%				2.57		%				2.09		%				3.04		%
Expected rate of return on plan assets						4.50		%				5.00		%				6.25		%				—						—						—
Rate of compensation increase						—						—						—						—						—						—
Interest crediting rate						4.75		%				4.75		%				4.75		%
Non-U.S. Plans:
Discount rate						4.60		%				1.37		%				1.68		%
Expected rate of return on plan assets						5.23		%				2.74		%				2.98		%
Rate of compensation increase						3.53		%				2.60		%				3.05		%
Interest crediting rate						—						—						—

						Pension Benefit Plans												U.S. Postretirement Benefit Plan
																														2022						2021						2022						2021
For Determining Benefit Obligation
U.S. Plans:
Discount rate						5.41		%				2.69		%				5.39		%				2.57		%
Rate of compensation increase						—						—						—						—
Interest crediting rate						4.75		%				4.75		%
Non-U.S. Plans:
Discount rate						6.67		%				1.72		%
Rate of compensation increase						3.71		%				2.63		%
Interest crediting rate						—						—

Actual asset allocations

The following presents the actual asset allocation as of December 31, 2022 and 2021:

						2022						2021
U.S. Plan
Cash and cash equivalents						1		%				1		%
Equity securities						40		%				30		%
Fixed income securities						59		%				69		%
Non-U.S. Plans
Cash and cash equivalents						6		%				9		%
Equity securities						23		%				31		%
Fixed income securities						45		%				39		%
Other						26		%				21		%

Fair value of pension and postretirement benefit plan assets assumed in connection with the Acquisition

The table below presents total plan assets by investment category as of December 31, 2022 and 2021 and the classification of each investment category within the fair value hierarchy with respect to the inputs used to measure fair value. There were no transfers between Level 1 and Level 2 during 2022 and 2021.

						Pension Benefit Plans - U.S. Plans
						December 31, 2022																								December 31, 2021
(in millions)						Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3						Total
Cash and cash equivalents						$	2					$	—					$	—					$	2					$	1					$	—					$	—					$	1
Commingled funds:
Equity securities:
U.S. broad market						—						34						—						34						—						36						—						36
Emerging markets						—						7						—						7						—						6						—						6
Worldwide developed markets						—						14						—						14						—						16						—						16
Other assets						—						10						—						10						—						10						—						10
Fixed income securities:
Investment grade						—						95						—						95						—						155						—						155
						$	2					$	160					$	—					$	162					$	1					$	223					$	—					$	224

						Pension Benefit Plans - Non-U.S. Plans
						December 31, 2022																								December 31, 2021
(in millions)						Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3						Total
Cash equivalents						$	—					$	6					$	—					$	6					$	—					$	15					$	—					$	15
Commingled funds:
Equity securities:
Emerging markets						—						1						—						1						—						3						—						3
Worldwide developed markets						—						21						—						21						—						51						—						51
Fixed income securities:
Investment grade						—						2						—						2						—						3						—						3
Government bond funds						1						39						—						40						1						65						—						66
Other assets						—						12						12						24						—						35						2						37
						$	1					$	81					$	12					$	94					$	1					$	172					$	2					$	175

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