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Employee Benefit and Retirement Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items] |
Schedule of Reconciliation of Benefit Obligations, Plan Assets and Funded Status | The following provides a reconciliation of benefit obligations, plan assets and funded status of the Company’s qualified noncontributory defined benefit pension plans as well as the Company’s material nonqualified retirement plans including its other postretirement benefit plans and SERPs at December 31, (dollars in millions):
| Pension Benefits |  | Postretirement Benefits |  | SERPs
| United States |  | International |  |
Change in benefit obligation: | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Benefit obligation at beginning of year | $ | 617 |  |  | $ | 836 |  |  | $ | 244 |  |  | $ | 417 |  |  | $ | 26 |  |  | $ | 30 |  |  | $ | 95 |  |  | $ | 100 |
Service cost | — |  |  | — |  |  | 3 |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |
Interest cost | 29 |  |  | 39 |  |  | 9 |  |  | 15 |  |  | 1 |  |  | 1 |  |  | 4 |  |  | 5 |
Actuarial (gain) loss | — |  |  | (26) |  |  | (4) |  |  | (13) |  |  | 2 |  |  | (2) |  |  | (2) |  |  | 1 |
Amendments | — |  |  | — |  |  | (12) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Currency translation | — |  |  | — |  |  | (10) |  |  | 14 |  |  | — |  |  | — |  |  | — |  |  | — |
Benefits paid | (48) |  |  | (68) |  |  | (13) |  |  | (20) |  |  | (4) |  |  | (3) |  |  | (11) |  |  | (11) |
Curtailments, settlements and other | — |  |  | (164) |  |  | (9) |  |  | (172) |  |  | — |  |  | — |  |  | — |  |  | — |
Benefit obligation at end of year (1) | $ | 598 |  |  | $ | 617 |  |  | $ | 208 |  |  | $ | 244 |  |  | $ | 25 |  |  | $ | 26 |  |  | $ | 86 |  |  | $ | 95 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year (2) | 668 |  |  | 843 |  |  | 176 |  |  | 354 |  |  | — |  |  | — |  |  | — |  |  | — |
Actual return on plan assets | 14 |  |  | 57 |  |  | 1 |  |  | (10) |  |  | — |  |  | — |  |  | — |  |  | — |
Contributions | — |  |  | — |  |  | 8 |  |  | 12 |  |  | 4 |  |  | 3 |  |  | 11 |  |  | 11 |
Currency translation | — |  |  | — |  |  | (6) |  |  | 13 |  |  | — |  |  | — |  |  | — |  |  | — |
Benefits paid | (48) |  |  | (68) |  |  | (13) |  |  | (20) |  |  | (4) |  |  | (3) |  |  | (11) |  |  | (11) |
Settlements and other | — |  |  | (164) |  |  | (6) |  |  | (173) |  |  | — |  |  | — |  |  | — |  |  | — |
Fair value of plan assets at end of year (2) | $ | 634 |  |  | $ | 668 |  |  | $ | 160 |  |  | $ | 176 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Funded status at end of year | $ | 36 |  |  | $ | 51 |  |  | $ | (48) |  |  | $ | (68) |  |  | $ | (25) |  |  | $ | (26) |  |  | $ | (86) |  |  | $ | (95) |
Amounts recognized in the Consolidated Balance Sheets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prepaid benefit cost, included in other assets | $ | 36 |  |  | $ | 51 |  |  | $ | 24 |  |  | $ | 23 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Accrued current benefit cost—other accrued liabilities | — |  |  | — |  |  | (4) |  |  | (4) |  |  | (4) |  |  | (4) |  |  | (10) |  |  | (11) |
Accrued noncurrent benefit cost— other noncurrent liabilities | — |  |  | — |  |  | (68) |  |  | (87) |  |  | (21) |  |  | (22) |  |  | (76) |  |  | (84) |
Net amount recognized | $ | 36 |  |  | $ | 51 |  |  | $ | (48) |  |  | $ | (68) |  |  | $ | (25) |  |  | $ | (26) |  |  | $ | (86) |  |  | $ | (95) |
Assumptions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average assumptions used to determine benefit obligation: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate | 5.51 | % |  | 4.94 | % |  | 3.80 | % |  | 3.82 | % |  | 4.94 | % |  | 4.84 | % |  | 5.36 | % |  | 4.91 | %
Long-term rate of compensation increase | — | % |  | — | % |  | 2.39 | % |  | 2.37 | % |  | — | % |  | — | % |  | — | % |  | 3.00 | %
Current health care cost trend rates | — | % |  | — | % |  | — | % |  | — | % |  | 6.31 | % |  | 5.87 | % |  | — | % |  | — | %
Ultimate health care cost trend rates | — | % |  | — | % |  | — | % |  | — | % |  | 4.84 | % |  | 4.50 | % |  | — | % |  | — | %
(1)The accumulated benefit obligation for all defined benefit pension plans was $799 million and $854 million at December 31, 2024 and 2023, respectively. The accumulated benefit obligation for the SERPs was $86 million and $95 million at December 31, 2024 and 2023, respectively. (2)The preceding table reflects the benefit obligation associated with the Company’s pension benefits including its postretirement benefit plans and the SERPs. There are no plan assets associated with the Company’s postretirement benefit plans. The SERPs are primarily funded through a trust agreement with a trustee that owns life insurance policies on both active and former key employees as well as cash and mutual funds. As of December 31, 2024 and 2023, the value of the Company’s investments in the life insurance contracts at their cash surrender value, cash and mutual funds was $148 million and $141 million, respectively, which have been excluded from the fair value of plan assets, as they do not qualify as plan assets. Such asset values exceeded the SERPs obligation by $62 million and $46 million as of December 31, 2024 and 2023, respectively.
Schedule of Pension, Postretirement Benefit and SERP Expense | The components of pension, postretirement benefit and SERPs expense for the periods indicated are as follows (dollars in millions):
| Pension Benefits
| United States |  | International
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Service cost | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3 |  |  | $ | 3 |  |  | $ | 4 |
Interest cost | 29 |  |  | 39 |  |  | 23 |  |  | 9 |  |  | 15 |  |  | 8 |
Expected return on plan assets | (47) |  |  | (52) |  |  | (47) |  |  | (6) |  |  | (11) |  |  | (6) |
Amortization: |  |  |  |  |  |  |  |  |  |  |
Prior service cost | — |  |  | — |  |  | — |  |  | 1 |  |  | 3 |  |  | 1 |
Net actuarial loss | — |  |  | 3 |  |  | 14 |  |  | 2 |  |  | 3 |  |  | 2 |
Curtailment, settlement and termination costs | — |  |  | 60 |  |  | — |  |  | (1) |  |  | 66 |  |  | — |
Total (income) expense | $ | (18) |  |  | $ | 50 |  |  | $ | (10) |  |  | $ | 8 |  |  | $ | 79 |  |  | $ | 9 |
Assumptions |  |  |  |  |  |  |  |  |  |  |
Weighted average assumption used to calculate net periodic cost: |  |  |  |  |  |
Effective discount rate for benefit obligations | 4.94 | % |  | 5.36 | % |  | 2.65 | % |  | 3.82 | % |  | 4.07 | % |  | 1.61 | %
Effective rate for interest on benefit obligations | 4.85 | % |  | 5.24 | % |  | 2.14 | % |  | 3.75 | % |  | 4.00 | % |  | 1.46 | %
Effective rate for service cost | — | % |  | — | % |  | — | % |  | 2.57 | % |  | 3.20 | % |  | 0.96 | %
Effective rate for interest on service cost | — | % |  | — | % |  | — | % |  | 2.48 | % |  | 3.06 | % |  | 0.78 | %
Long-term rate of return on plan assets | 6.00 | % |  | 5.88 | % |  | 4.75 | % |  | 3.99 | % |  | 3.61 | % |  | 1.06 | %
Long-term rate of compensation increase | — | % |  | — | % |  | — | % |  | 2.37 | % |  | 2.41 | % |  | 2.27 | %
| Postretirement Benefits |  | SERPs
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Interest cost | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 4 |  |  | $ | 5 |  |  | $ | 3 |
Amortization: |  |  |  |  |  |  |  |  |  |  |
Net actuarial (gain) loss | (5) |  |  | (6) |  |  | (5) |  |  | — |  |  | — |  |  | 1 |
Total (income) expense | $ | (4) |  |  | $ | (5) |  |  | $ | (4) |  |  | $ | 4 |  |  | $ | 5 |  |  | $ | 4 |
Assumptions |  |  |  |  |  |  |  |  |  |  |
Weighted average assumption used to calculate net periodic cost: |  |  |  |  |  |  |  |  |  |
Effective discount rate for benefit obligations | 4.84 | % |  | 5.11 | % |  | 2.34 | % |  | 4.91 | % |  | 5.18 | % |  | 2.56 | %
Effective rate for interest on benefit obligations | 4.81 | % |  | 5.04 | % |  | 1.77 | % |  | 4.85 | % |  | 5.09 | % |  | 2.04 | %
Effective rate for service cost | 4.99 | % |  | 4.97 | % |  | 1.98 | % |  | — | % |  | — | % |  | 2.94 | %
Effective rate for interest on service cost | 4.90 | % |  | 4.90 | % |  | 1.67 | % |  | — | % |  | — | % |  | 2.97 | %
Long-term rate of compensation increase | — | % |  | — | % |  | — | % |  | 3.00 | % |  | 3.00 | % |  | 3.00 | %
Schedule of Expected Benefit Payments | Estimated future benefit payments under the Company’s defined benefit pension plans, other postretirement benefit plans and SERPs are as follows at December 31, 2024 (in millions):
| 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter
Pension benefits | $ | 67 |  |  | $ | 66 |  |  | $ | 68 |  |  | $ | 67 |  |  | $ | 67 |  |  | $ | 315 |
Postretirement benefits | 4 |  |  | 4 |  |  | 3 |  |  | 3 |  |  | 2 |  |  | 9 |
SERPs | 10 |  |  | 10 |  |  | 9 |  |  | 8 |  |  | 8 |  |  | 32 |
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
| 2024 |  | 2023
Projected benefit obligation | $ | 184 |  |  | $ | 315 |
Fair value of plan assets (1) | 27 |  |  | 129 |
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
| 2024 |  | 2023
Accumulated benefit obligation | $ | 175 |  |  | $ | 309 |
Fair value of plan assets (1) | 22 |  |  | 129 |
(1)The preceding tables reflect the benefit obligation associated with the Company’s nonqualified pension benefits including its postretirement benefit plans and the SERPs. There are no plan assets associated with the Company’s postretirement benefit plans. The SERPs are primarily funded through a trust agreement with a trustee that owns life insurance policies on both active and former key employees as well as cash and mutual funds, which are not reflected in the fair value of plan assets above.
Schedule of Allocation of Plan Assets | The composition of domestic pension plan assets at December 31, 2024 and 2023 is as follows (in millions):
|  | Plan Assets — Domestic Plans
|  | December 31, 2024
|  | Fair Value Measurements |  |  |  |
Asset Category |  | Level 1 |  | Level 2 |  | Level 3 |  | Subtotal |  | NAV-based assets |  | Total
Equity securities and funds |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 121 |  |  | $ | 121 |
Fixed income securities and funds |  | 249 |  |  | — |  |  | — |  |  | 249 |  |  | 252 |  |  | 501 |
Alternative investments |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 1 |
Cash and other |  | 9 |  |  | 2 |  |  | — |  |  | 11 |  |  | — |  |  | 11 |
Total |  | $ | 258 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 260 |  |  | $ | 374 |  |  | $ | 634 |
|  | 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 |
The composition of international pension plan assets at December 31, 2024 and 2023 is as follows (in millions):
|  | Plan Assets — International Plans
|  | December 31, 2024
|  | Fair Value Measurements |  |  |  |
Asset Category |  | Level 1 |  | Level 2 |  | Level 3 |  | Subtotal |  | NAV-based assets |  | Total
Equity securities and funds |  | $ | 4 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 8 |  |  | $ | — |  |  | $ | 8 |
Fixed income securities and funds |  | 3 |  |  | 5 |  |  | — |  |  | 8 |  |  | — |  |  | 8 |
Cash, insured assets and other |  | 3 |  |  | 131 |  |  | 10 |  |  | 144 |  |  | — |  |  | 144 |
Total |  | $ | 10 |  |  | $ | 140 |  |  | $ | 10 |  |  | $ | 160 |  |  | $ | — |  |  | $ | 160 |
|  | 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, insured assets and other |  | 4 |  |  | 145 |  |  | 10 |  |  | 159 |  |  | — |  |  | 159 |
Total |  | $ | 11 |  |  | $ | 155 |  |  | $ | 10 |  |  | $ | 176 |  |  | $ | — |  |  | $ | 176 |
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 2024 and 2023 is as follows (in millions):
| Total
Balance at December 31, 2022 | $ | 194 |
Purchases, sales, settlements and other, net | (184) |
Balance at December 31, 2024 and 2023 | $ | 10 |

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