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Long-term Employee Benefits (Tables) | 12 Months Ended
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Dec. 31, 2024
Retirement Benefits, Description [Abstract] |
Schedules of Net Periodic Pension Income | The following table sets forth the Company’s net periodic pension income and amounts recognized in other comprehensive income (loss) for the years ended December 31, 2024, 2023 and 2022.
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Service cost |  | $ | (9 | ) |  | $ | (9 | ) |  | $ | (14 | )
Interest cost |  |  | (14 | ) |  |  | (15 | ) |  |  | (7 | )
Expected return on plan assets |  |  | 22 |  |  |  | 20 |  |  |  | 18 |
Amortization of actuarial loss |  |  | (8 | ) |  |  | (9 | ) |  |  | (8 | )
Amortization of prior service gain |  |  | 2 |  |  |  | 3 |  |  |  | 2 |
Curtailment/settlement gain |  |  | 1 |  |  |  | 1 |  |  |  | — |
Total net periodic pension cost |  | $ | (6 | ) |  | $ | (9 | ) |  | $ | (9 | )
Net gain (loss) |  | $ | 35 |  |  | $ | (4 | ) |  | $ | (2 | )
Prior service benefit |  |  | 1 |  |  |  | — |  |  |  | 2 |
Amortization of actuarial loss |  |  | 8 |  |  |  | 9 |  |  |  | 8 |
Amortization of prior service gain |  |  | (2 | ) |  |  | (3 | ) |  |  | (2 | )
Recognition of curtailment/settlement gain |  |  | (1 | ) |  |  | (1 | ) |  |  | — |
Curtailment gain |  |  | 2 |  |  |  | 11 |  |  |  | — |
Effect of foreign exchange rates |  |  | 4 |  |  |  | (3 | ) |  |  | 7 |
Benefit recognized in other comprehensive income |  |  | 47 |  |  |  | 9 |  |  |  | 13 |
Total changes in plan assets and benefit obligations recognized in other comprehensive income |  | $ | 41 |  |  | $ | — |  |  | $ | 4 |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | following table sets forth the pre-tax amounts recognized in accumulated other comprehensive loss at years ended December 31, 2024, 2023 and 2022.
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Net loss |  | $ | 73 |  |  | $ | 123 |  |  | $ | 132 |
Prior service credit |  |  | (5 | ) |  |  | (7 | ) |  |  | (9 | )
Total amount recognized in accumulated other comprehensive loss |  | $ | 68 |  |  | $ | 116 |  |  | $ | 123 |
Summary of Benefit Obligations and Fair Value of Plan Assets and Funded Status of Plan | The following table sets forth summarized information on the Company’s pension plans at December 31, 2024 and 2023.
|  | December 31, |
|  | 2024 |  |  | 2023 |
Change in benefit obligation: |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | 437 |  |  | $ | 407 |
Service cost |  |  | 9 |  |  |  | 9 |
Interest cost |  |  | 14 |  |  |  | 15 |
Plan participants’ contributions |  |  | 2 |  |  |  | 2 |
Actuarial loss (gain) |  |  | (9 | ) |  |  | 26 |
Benefits paid |  |  | (7 | ) |  |  | (9 | )
Plan amendments |  |  | — |  |  |  | — |
Curtailment |  |  | (2 | ) |  |  | (11 | )
Settlements and transfers |  |  | (28 | ) |  |  | (17 | )
Currency translation |  |  | (28 | ) |  |  | 15 |
Benefit obligation at end of year |  |  | 388 |  |  |  | 437 |
Change in plan assets: |  |  |  |  |  |
Fair value of plan assets at beginning of year |  |  | 464 |  |  |  | 422 |
Actual return on plan assets |  |  | 47 |  |  |  | 41 |
Employer contributions |  |  | 12 |  |  |  | 10 |
Plan participants’ contributions |  |  | 2 |  |  |  | 2 |
Benefits paid |  |  | (7 | ) |  |  | (9 | )
Settlements and transfers |  |  | (28 | ) |  |  | (17 | )
Currency translation |  |  | (28 | ) |  |  | 15 |
Fair value of plan assets at end of year |  |  | 462 |  |  |  | 464 |
Total funded status at end of year |  | $ | 74 |  |  | $ | 27 |
Schedule of Amounts Recognized in the Consolidated Balance Sheet | The following table sets forth the net amounts recognized in the Company’s consolidated balance sheets at December 31, 2024 and 2023.
|  | December 31, |
|  | 2024 |  |  | 2023 |
Non-current assets |  | $ | 97 |  |  | $ | 57 |
Current liabilities |  |  | (1 | ) |  |  | (1 | )
Non-current liabilities |  |  | (22 | ) |  |  | (29 | )
Total net amount recognized |  | $ | 74 |  |  | $ | 27 |
Schedule of Projected Benefit Obligations in Excess of Fair Value of Plan Assets | The following tables set forth information related to the Company’s pension plans with projected and accumulated benefit obligations in excess of the fair value of plan assets at December 31, 2024 and 2023.
|  | December 31, |
Pension plans with projected benefit obligation in excess of plan assets |  | 2024 |  |  | 2023 |
Projected benefit obligation |  | $ | 75 |  |  | $ | 110 |
Accumulated benefit obligation |  |  | 69 |  |  |  | 102 |
Fair value of plan assets |  |  | 52 |  |  |  | 80 |
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | The following tables set forth information related to the Company’s pension plans with projected and accumulated benefit obligations in excess of the fair value of plan assets at December 31, 2024 and 2023.
|  | December 31, |
Pension plans with accumulated benefit obligation in excess of plan assets |  | 2024 |  |  | 2023 |
Projected benefit obligation |  | $ | 75 |  |  | $ | 86 |
Accumulated benefit obligation |  |  | 69 |  |  |  | 79 |
Fair value of plan assets |  |  | 52 |  |  |  | 57 |
Schedule of Assumptions Used | The following tables set forth the assumptions that have been used to determine the Company’s benefit obligations and net benefit cost at December 31, 2024 and 2023.
|  | December 31, |
Weighted-average assumptions used to determine benefit obligations |  | 2024 |  |  | 2023 |
Discount rate |  |  | 3.3 | % |  |  | 3.3 | %
Rate of compensation increase (1) |  |  | 3.2 | % |  |  | 3.4 | %
Interest crediting rate (2) |  |  | 1.8 | % |  |  | 2.3 | %
(1) The rate of compensation increase represents the single annual effective salary increase that an average plan participant would receive during the participant’s entire career at Chemours. (2) The interest crediting rate, which is applicable only for account balance type plans, represents the single effective annual account balance increase that an average participant would receive during the participant’s entire career at Chemours.
|  | December 31, |
Weighted-average assumptions used to determine net benefit cost |  | 2024 |  |  | 2023 |
Discount rate |  |  | 3.3 | % |  |  | 3.6 | %
Rate of compensation increase (1) |  |  | 3.4 | % |  |  | 3.5 | %
Expected return on plan assets |  |  | 4.9 | % |  |  | 4.6 | %
(1) The rate of compensation increase represents the single annual effective salary increase that an average plan participant would receive during the participant’s entire career at Chemours.
Schedule of Allocation of Plan Assets | The following table sets forth the weighted-average allocation for the Company’s pension plan assets at December 31, 2024 and 2023.
|  | December 31, |
|  | 2024 |  |  | 2023 |
Cash and cash equivalents |  |  | 2 | % |  |  | 6 | %
U.S. and non-U.S. equity securities |  |  | 38 | % |  |  | 36 | %
Fixed income securities |  |  | 60 | % |  |  | 58 | %
Total weighted-average allocation |  |  | 100 | % |  |  | 100 | %
following tables set forth the fair values of the Company’s pension assets by level within the fair value hierarchy at December 31, 2024 and 2023.
|  | Fair Value Measurements at December 31, 2024 |
|  | Total |  |  | Level 1 |  |  | Level 2 |
Asset category: |  |  |  |  |  |  |  |  |
Debt - government issued |  | $ | 69 |  |  | $ | 5 |  |  | $ | 64 |
Debt - corporate issued |  |  | 116 |  |  |  | 4 |  |  |  | 112 |
U.S. and non-U.S. equities |  |  | 175 |  |  |  | 18 |  |  |  | 157 |
Derivatives - asset position |  |  | 60 |  |  |  | — |  |  |  | 60 |
Cash and cash equivalents |  |  | 9 |  |  |  | 9 |  |  |  | — |
Other |  |  | 2 |  |  |  | — |  |  |  | 2 |
Total pension assets at fair value |  |  | 431 |  |  | $ | 36 |  |  | $ | 395 |
Pooled mortgage funds (1) |  |  | 31 |  |  |  |  |  |  |
Total pension assets |  | $ | 462 |  |  |  |  |  |  |
(1) Pooled mortgage funds consist of funds that invest in residential mortgages. These funds generally allow for monthly redemption with 30 days' notice. Timing for redemption could be delayed based on the priority of the Company's request and the availability of funds. Interests in these funds are valued using the net asset value ("NAV") per share practical expedient and are not classified in the fair value hierarchy. Pooled real estate funds consist of funds that invest in real estate. These funds generally allow for redemption upon twelve months' notice. Interests in these funds are valued using the net asset value ("NAV") per share practical expedient and are not classified in the fair value hierarchy.
|  | Fair Value Measurements at December 31, 2023 |
|  | Total |  |  | Level 1 |  |  | Level 2 |
Asset category: |  |  |  |  |  |  |  |  |
Debt - government issued |  | $ | 63 |  |  | $ | 15 |  |  | $ | 48 |
Debt - corporate issued |  |  | 116 |  |  |  | 23 |  |  |  | 93 |
U.S. and non-U.S. equities |  |  | 168 |  |  |  | 39 |  |  |  | 129 |
Derivatives - asset position |  |  | 66 |  |  |  | — |  |  |  | 66 |
Cash and cash equivalents |  |  | 28 |  |  |  | 28 |  |  |  | — |
Other |  |  | 2 |  |  |  | — |  |  |  | 2 |
Total pension assets at fair value |  |  | 443 |  |  | $ | 105 |  |  | $ | 338 |
Pooled mortgage funds (1) |  |  | 21 |  |  |  |  |  |  |
Total pension assets |  | $ | 464 |  |  |  |  |  |  |
(1) Pooled mortgage funds consist of funds that invest in residential mortgages. These funds generally allow for monthly redemption with 30 days' notice. Timing for redemption could be delayed based on the priority of the Company's request and the availability of funds. Interests in these funds are valued using the NAV per share practical expedient and are not classified in the fair value hierarchy.
Schedule of Expected Benefit Payments | The following table sets forth the benefit payments that are expected to be paid by the plans over the next five years and the five years thereafter.
2025 |  | $ | 11 |
2026 |  |  | 11 |
2027 |  |  | 12 |
2028 |  |  | 13 |
2029 |  |  | 17 |
2030 to 2034 |  |  | 95 |

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