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Employee Benefit and Retirement Plans (Tables) | 12 Months Ended
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Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items] |
Schedule of Reconciliation of Benefit Obligations | The following provides a reconciliation of benefit obligations, plan assets and funded status of the Company’s noncontributory defined benefit pension plans, including the SERP, at December 31, (dollars in millions):
| Pension Benefits |  | Postretirement Benefits
| United States |  | International |  |  |  |
Change in benefit obligation: | 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022
Benefit obligation at beginning of year | $ | 936 |  |  | $ | 1,238 |  |  | $ | 417 |  |  | $ | 623 |  |  | $ | 30 |  |  | $ | 41 |
Service cost | — |  |  | — |  |  | 3 |  |  | 4 |  |  | — |  |  | — |
Interest cost | 44 |  |  | 25 |  |  | 15 |  |  | 8 |  |  | 1 |  |  | 1 |
Actuarial gain | (24) |  |  | (247) |  |  | (13) |  |  | (137) |  |  | (2) |  |  | (8) |
Currency translation | — |  |  | — |  |  | 14 |  |  | (56) |  |  | — |  |  | — |
Benefits paid | (79) |  |  | (80) |  |  | (20) |  |  | (23) |  |  | (3) |  |  | (4) |
Curtailments, settlements and other | (164) |  |  | — |  |  | (172) |  |  | (2) |  |  | — |  |  | — |
Benefit obligation at end of year (1) | $ | 713 |  |  | $ | 936 |  |  | $ | 244 |  |  | $ | 417 |  |  | $ | 26 |  |  | $ | 30 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year | 843 |  |  | 1,133 |  |  | 354 |  |  | 595 |  |  | — |  |  | — |
Actual return on plan assets | 57 |  |  | (220) |  |  | (10) |  |  | (166) |  |  | — |  |  | — |
Contributions | 11 |  |  | 10 |  |  | 12 |  |  | 7 |  |  | 3 |  |  | 4 |
Currency translation | — |  |  | — |  |  | 13 |  |  | (57) |  |  | — |  |  | — |
Benefits paid | (79) |  |  | (80) |  |  | (20) |  |  | (23) |  |  | (3) |  |  | (4) |
Settlements and other | (164) |  |  | — |  |  | (173) |  |  | (2) |  |  | — |  |  | — |
Fair value of plan assets at end of year | $ | 668 |  |  | $ | 843 |  |  | $ | 176 |  |  | $ | 354 |  |  | $ | — |  |  | $ | — |
Funded status at end of year | $ | (45) |  |  | $ | (93) |  |  | $ | (68) |  |  | $ | (63) |  |  | $ | (26) |  |  | $ | (30) |
Amounts recognized in the Consolidated Balance Sheets: |  |  |  |  |  |  |  |  |  |  |
Prepaid benefit cost, included in other assets | $ | 50 |  |  | $ | 7 |  |  | $ | 23 |  |  | $ | 23 |  |  | $ | — |  |  | $ | — |
Accrued current benefit cost—other accrued liabilities | (11) |  |  | (11) |  |  | (4) |  |  | (4) |  |  | (4) |  |  | (4) |
Accrued noncurrent benefit cost— other noncurrent liabilities | (84) |  |  | (89) |  |  | (87) |  |  | (82) |  |  | (22) |  |  | (26) |
Net amount recognized | $ | (45) |  |  | $ | (93) |  |  | $ | (68) |  |  | $ | (63) |  |  | $ | (26) |  |  | $ | (30) |
Assumptions: |  |  |  |  |  |  |  |  |  |  |
Weighted-average assumptions used to determine benefit obligation: |  |  |  |  |  |  |  |
Discount rate | 4.94 | % |  | 5.20 | % |  | 3.82 | % |  | 4.07 | % |  | 4.84 | % |  | 5.11 | %
Long-term rate of compensation increase | 3.00 | % |  | 3.00 | % |  | 2.37 | % |  | 2.41 | % |  | — | % |  | — | %
Current health care cost trend rates | — | % |  | — | % |  | — | % |  | — | % |  | 5.87 | % |  | 6.65 | %
Ultimate health care cost trend rates | — | % |  | — | % |  | — | % |  | — | % |  | 4.50 | % |  | 4.50 | %
(1)The accumulated benefit obligation for all defined benefit pension plans was $1.0 billion and $1.4 billion at December 31, 2023 and 2022, respectively.
Schedule Of Company's Pension Cost And Supplemental Retirement Plans | The components of pension and postretirement benefit expense for the periods indicated are as follows (dollars in millions):
| Pension Benefits
| United States |  | International
| 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021
Service cost | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3 |  |  | $ | 4 |  |  | $ | 4 |
Interest cost | 44 |  |  | 25 |  |  | 20 |  |  | 15 |  |  | 8 |  |  | 6 |
Expected return on plan assets | (52) |  |  | (47) |  |  | (51) |  |  | (11) |  |  | (6) |  |  | (3) |
Amortization: |  |  |  |  |  |  |  |  |  |  |
Prior service cost | — |  |  | — |  |  | — |  |  | 3 |  |  | 1 |  |  | 1 |
Net actuarial loss | 3 |  |  | 16 |  |  | 22 |  |  | 3 |  |  | 2 |  |  | 3 |
Curtailment, settlement and termination costs | 60 |  |  | — |  |  | — |  |  | 66 |  |  | — |  |  | — |
Total (income) expense | $ | 55 |  |  | $ | (6) |  |  | $ | (9) |  |  | $ | 79 |  |  | $ | 9 |  |  | $ | 11 |
Assumptions |  |  |  |  |  |  |  |  |  |  |
Weighted average assumption used to calculate net periodic cost: |  |  |  |  |  |  |  |  |  |
Effective discount rate for benefit obligations | 5.34 | % |  | 2.64 | % |  | 2.16 | % |  | 4.07 | % |  | 1.61 | % |  | 1.22 | %
Effective rate for interest on benefit obligations | 5.23 | % |  | 2.13 | % |  | 1.54 | % |  | 4.00 | % |  | 1.46 | % |  | 0.92 | %
Effective rate for service cost | — | % |  | 2.94 | % |  | 2.63 | % |  | 3.20 | % |  | 0.96 | % |  | 0.71 | %
Effective rate for interest on service cost | — | % |  | 2.97 | % |  | 2.61 | % |  | 3.06 | % |  | 0.78 | % |  | 0.54 | %
Long-term rate of return on plan assets | 5.88 | % |  | 4.75 | % |  | 5.25 | % |  | 3.61 | % |  | 1.06 | % |  | 0.51 | %
Long-term rate of compensation increase | 3.00 | % |  | 3.00 | % |  | 3.00 | % |  | 2.41 | % |  | 2.27 | % |  | 2.18 | %
| Postretirement Benefits
| 2023 |  | 2022 |  | 2021
Interest cost | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |
Amortization: |  |  |  |  |
Net actuarial gain | (6) |  |  | (5) |  |  | (3) |
Total income | $ | (5) |  |  | $ | (4) |  |  | $ | (2) |
Assumptions |  |  |  |  |
Weighted average assumption used to calculate net periodic cost: |  |  |  |  |
Effective discount rate for benefit obligations | 5.11 | % |  | 2.34 | % |  | 1.80 | %
Effective rate for interest on benefit obligations | 5.04 | % |  | 1.77 | % |  | 1.18 | %
Effective rate for service cost | 4.97 | % |  | 1.98 | % |  | 1.32 | %
Effective rate for interest on service cost | 4.90 | % |  | 1.67 | % |  | 1.02 | %
Schedule of Expected Benefit Payments | Estimated future benefit payments under the Company’s defined benefit pension plans and postretirement benefit plans are as follows at December 31, 2023 (in millions):
| 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | Thereafter
Pension benefits | $ | 79 |  |  | $ | 76 |  |  | $ | 75 |  |  | $ | 77 |  |  | $ | 75 |  |  | $ | 357 |
Postretirement benefits | 4 |  |  | 4 |  |  | 4 |  |  | 3 |  |  | 3 |  |  | 9 |
Pension Benefits |
Defined Benefit Plan Disclosure [Line Items] |
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets | Summary of under-funded or non-funded pension benefit plans with projected benefit obligations in excess of plan assets at December 31, (in millions):
| Pension Benefits
| 2023 |  | 2022
Projected benefit obligation | $ | 315 |  |  | $ | 311 |
Fair value of plan assets | 129 |  |  | 125 |
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | Summary of pension plans with accumulated obligations in excess of plan assets at December 31, (in millions):
| Pension Benefits
| 2023 |  | 2022
Accumulated benefit obligation | $ | 309 |  |  | $ | 303 |
Fair value of plan assets | 129 |  |  | 123 |
Schedule of Allocation of Plan Assets | The composition of domestic pension plan assets at December 31, 2023 and 2022 is as follows (in millions):
|  | Plan Assets — Domestic Plans
|  | December 31, 2023
|  | Fair Value Measurements |  |  |  |
Asset Category |  | Level 1 |  | Level 2 |  | Level 3 |  | Subtotal |  | NAV-based assets |  | Total
Equity securities and funds |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 70 |  |  | $ | 70 |
Fixed income securities and funds |  | 250 |  |  | — |  |  | — |  |  | 250 |  |  | 329 |  |  | 579 |
Alternative investments |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | 2 |
Cash and other |  | 15 |  |  | 2 |  |  | — |  |  | 17 |  |  | — |  |  | 17 |
Total |  | $ | 265 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 267 |  |  | $ | 401 |  |  | $ | 668 |
|  | Plan Assets — Domestic Plans
|  | December 31, 2022
|  | Fair Value Measurements |  |  |  |
Asset Category |  | Level 1 |  | Level 2 |  | Level 3 |  | Subtotal |  | NAV-based assets |  | Total
Equity securities and funds |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 158 |  |  | $ | 158 |
Fixed income securities and funds |  | 369 |  |  | — |  |  | — |  |  | 369 |  |  | 303 |  |  | 672 |
Alternative investments |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | 2 |
Cash and other |  | 8 |  |  | 3 |  |  | — |  |  | 11 |  |  | — |  |  | 11 |
Total |  | $ | 377 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 380 |  |  | $ | 463 |  |  | $ | 843 |
The composition of international pension plan assets at December 31, 2023 and 2022 is as follows (in millions):
|  | Plan Assets — International Plans
|  | December 31, 2023
|  | Fair Value Measurements |  |  |  |
Asset Category |  | Level 1 |  | Level 2 |  | Level 3 |  | Subtotal |  | NAV-based assets |  | Total
Equity securities and funds |  | $ | 3 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |  |  | $ | 7 |
Fixed income securities and funds |  | 4 |  |  | 6 |  |  | — |  |  | 10 |  |  | — |  |  | 10 |
Cash and other |  | 4 |  |  | 145 |  |  | 10 |  |  | 159 |  |  | — |  |  | 159 |
Total |  | $ | 11 |  |  | $ | 155 |  |  | $ | 10 |  |  | $ | 176 |  |  | $ | — |  |  | $ | 176 |
|  | Plan Assets — International Plans
|  | December 31, 2022
|  | Fair Value Measurements |  |  |  |
Asset Category |  | Level 1 |  | Level 2 |  | Level 3 |  | Subtotal |  | NAV-based assets |  | Total
Equity securities and funds |  | $ | 3 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 6 |  |  | $ | — |  |  | $ | 6 |
Fixed income securities and funds |  | 6 |  |  | 5 |  |  | — |  |  | 11 |  |  | — |  |  | 11 |
Cash and other |  | 3 |  |  | 140 |  |  | 194 |  |  | 337 |  |  | — |  |  | 337 |
Total |  | $ | 12 |  |  | $ | 148 |  |  | $ | 194 |  |  | $ | 354 |  |  | $ | — |  |  | $ | 354 |
Postretirement Benefits |
Defined Benefit Plan Disclosure [Line Items] |
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets | A reconciliation of the change in fair value of the defined benefit plans’ assets using significant unobservable inputs (Level 3) for 2023 and 2022 is as follows (in millions):
| Total
Balance at December 31, 2021 | $ | 9 |
Unrealized losses | (101) |
Purchases, sales, settlements and other, net | 286 |
Balance at December 31, 2022 | 194 |
Purchases, sales, settlements and other, net | (184) |
Balance at December 31, 2023 | $ | 10 |

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