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Post-Employment and Other Long-Term Employees Benefits (Tables) | 12 Months Ended
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Dec. 31, 2021
Compensation And Retirement Disclosure [Abstract] |
Changes in Benefit Obligation and Plan Assets | The changes in benefit obligation and plan assets were as follows:
|  | Pension Benefits |  |  | Other Long-Term Benefits |  |
|  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2021 |  |  | December 31, 2020 |  |
Change in benefit obligation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Benefit obligation at beginning of year |  |  | 1,216 |  |  |  | 1,036 |  |  |  | 101 |  |  |  | 88 |
Service cost |  |  | 36 |  |  |  | 31 |  |  |  | 13 |  |  |  | 11 |
Interest cost |  |  | 21 |  |  |  | 21 |  |  |  | 1 |  |  |  | 1 |
Employee contributions |  |  | 4 |  |  |  | 4 |  |  |  | — |  |  |  | — |
Plan amendments |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | — |
Benefits paid |  |  | (25 | ) |  |  | (13 | ) |  |  | (5 | ) |  |  | (11 | )
Effect of settlement |  |  | (8 | ) |  |  | (2 | ) |  |  | — |  |  |  | — |
Business combination |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | — |
Actuarial (gain) loss |  |  | (48 | ) |  |  | 83 |  |  |  | — |  |  |  | 3 |
Foreign currency translation and other adjustments |  |  | (34 | ) |  |  | 55 |  |  |  | (16 | ) |  |  | 9 |
Benefit obligation at end of year |  |  | 1,165 |  |  |  | 1,216 |  |  |  | 94 |  |  |  | 101 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Plan assets at fair value at beginning of year |  |  | 718 |  |  |  | 597 |  |  |  | — |  |  |  | — |
Actual return on plan assets |  |  | 32 |  |  |  | 84 |  |  |  | — |  |  |  | — |
Employer contributions |  |  | 17 |  |  |  | 17 |  |  |  | — |  |  |  | — |
Employee contributions |  |  | 4 |  |  |  | 4 |  |  |  | — |  |  |  | — |
Benefits paid |  |  | (12 | ) |  |  | (3 | ) |  |  | — |  |  |  | — |
Effect of settlement |  |  | (8 | ) |  |  | — |  |  |  | — |  |  |  | — |
Business combination |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |
Foreign currency translation and other adjustments |  |  | (10 | ) |  |  | 19 |  |  |  | — |  |  |  | — |
Plan assets at fair value at end of year |  |  | 743 |  |  |  | 718 |  |  |  | — |  |  |  | — |
Funded status |  |  | (422 | ) |  |  | (498 | ) |  |  | (94 | ) |  |  | (101 | )
Net amount recognized in the consolidated balance sheets consisted of the following:
|  | Pension Benefits |  |  | Other Long-Term Benefits |
|  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2021 |  |  | December 31, 2020 |
Non-current assets |  |  | 15 |  |  |  | 4 |  |  |  | — |  |  |  | — |
Current liabilities |  |  | (11 | ) |  |  | (9 | ) |  |  | (4 | ) |  |  | (4 | )
Long-term liabilities |  |  | (426 | ) |  |  | (493 | ) |  |  | (90 | ) |  |  | (97 | )
Net amount recognized |  |  | (422 | ) |  |  | (498 | ) |  |  | (94 | ) |  |  | (101 | )
Accumulated Other Comprehensive Income (Loss) Before Tax Effects | The components of accumulated other comprehensive loss (income) before tax effects were as follows:
|  | Actuarial (gains)/losses |  |  | Prior service cost |  |  | Total |
Accumulated other comprehensive loss as at December 31, 2019 |  |  | 197 |  |  |  | 3 |  |  |  | 200 |
Net amount generated/arising in current year |  |  | 21 |  |  |  | 1 |  |  |  | 22 |
Amortization |  |  | (13 | ) |  |  | (1 | ) |  |  | (14 | )
Foreign currency translation adjustment |  |  | 11 |  |  |  | — |  |  |  | 11 |
Accumulated other comprehensive loss as at December 31, 2020 |  |  | 216 |  |  |  | 3 |  |  |  | 219 |
Net amount generated/arising in current year |  |  | (56 | ) |  |  | — |  |  |  | (56 | )
Amortization |  |  | (12 | ) |  |  | (1 | ) |  |  | (13 | )
Foreign currency translation adjustment |  |  | (6 | ) |  |  | — |  |  |  | (6 | )
Accumulated other comprehensive loss as at December 31, 2021 |  |  | 142 |  |  |  | 2 |  |  |  | 144 |
Schedule of Accumulated Benefit Obligations | The accumulated benefit obligations were as follows:
|  | Pension Benefits |  |  | Other Long-Term Benefits |
|  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2021 |  |  | December 31, 2020 |
Accumulated benefit obligations |  |  | 1,004 |  |  |  | 1,053 |  |  |  | 79 |  |  |  | 83 |
Components of Net Periodic Benefit Cost | The components of the net periodic benefit cost included the following:
|  | Pension Benefits |  |  | Other Long-term Benefits |
|  | Year ended December 31, 2021 |  |  | Year ended December 31, 2020 |  |  | Year ended December 31, 2019 |  |  | Year ended December 31, 2021 |  |  | Year ended December 31, 2020 |  |  | Year ended December 31, 2019 |
Service cost |  |  | 36 |  |  |  | 31 |  |  |  | 27 |  |  |  | 13 |  |  |  | 11 |  |  |  | 5 |
Interest cost |  |  | 21 |  |  |  | 21 |  |  |  | 24 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |
Expected return on plan assets |  |  | (24 | ) |  |  | (23 | ) |  |  | (22 | ) |  |  | — |  |  |  | — |  |  |  | — |
Amortization of actuarial net loss (gain) |  |  | 12 |  |  |  | 12 |  |  |  | 10 |  |  |  | — |  |  |  | 3 |  |  |  | 7 |
Amortization of prior service cost |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |
Effect of settlement |  |  | — |  |  |  | 1 |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | — |
Net periodic benefit cost |  |  | 46 |  |  |  | 43 |  |  |  | 43 |  |  |  | 14 |  |  |  | 15 |  |  |  | 13 |
Weighted Average Assumptions Used in Determination of Benefit Obligation and Plan Assets | The weighted average assumptions used in the determination of the benefit obligation and the plan assets for the pension plans and the other long-term benefits were as follows:
Assumptions |  | 2021 |  |  | 2020 |
Discount rate |  |  | 1.84 | % |  |  | 1.45 | %
Salary increase rate |  |  | 2.27 | % |  |  | 2.43 | %
Expected long-term rate of return on funds for the pension expense of the following year |  |  | 3.19 | % |  |  | 3.44 | %
The weighted average assumptions used in the determination of the net periodic benefit cost for the pension plans and the other long-term benefits were as follows:
Assumptions |  | 2021 |  |  | 2020 |  |  | 2019 |
Discount rate |  |  | 1.45 | % |  |  | 1.95 | % |  |  | 2.75 | %
Salary increase rate |  |  | 2.43 | % |  |  | 2.48 | % |  |  | 2.32 | %
Expected long-term rate of return on funds for the pension expense of the year |  |  | 3.44 | % |  |  | 4.04 | % |  |  | 4.16 | %
Pension Plan Asset Allocation | The Company’s pension plan asset allocation as at December 31, 2021 and December 31, 2020 is as follows:
|  | Percentage of Plan Assets at December |
Asset Category |  | 2021 |  |  | 2020 |
Cash and cash equivalents |  |  | 1 | % |  |  | 1 | %
Equity securities |  |  | 17 | % |  |  | 23 | %
Government debt securities |  |  | 12 | % |  |  | 12 | %
Corporate debt securities |  |  | 22 | % |  |  | 15 | %
Investments in funds(a) |  |  | 21 | % |  |  | 21 | %
Real estate |  |  | 1 | % |  |  | 2 | %
Other (mainly insurance assets – contracts and reserves) |  |  | 26 | % |  |  | 26 | %
Total |  |  | 100 | % |  |  | 100 | %
(a) | As at December 31, 2021, investments in funds were composed of commingled and multi-strategy funds invested in diversified portfolios of fixed income (73%) - mainly corporate bonds, equity (15%) and other instruments (12%). As at December 31, 2020, investments in funds were composed of commingled and multi-strategy funds invested in diversified portfolios of fixed income (72%) - mainly corporate bonds, equity (13%) and other instruments (15%).
Pension Plan Asset Allocation Including Fair-Value Measurements | The Company’s detailed pension plan asset allocation including the fair-value measurements of those plan assets as at December 31, 2021 is as follows:
|  | Total |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Cash and cash equivalents |  |  | 5 |  |  |  | 5 |  |  |  | — |  |  |  | — |
Equity securities |  |  | 130 |  |  |  | 2 |  |  |  | 128 |  |  |  | — |
Government debt securities |  |  | 87 |  |  |  | — |  |  |  | 87 |  |  |  | — |
Corporate debt securities |  |  | 164 |  |  |  | — |  |  |  | 139 |  |  |  | 25 |
Investment funds |  |  | 156 |  |  |  | 1 |  |  |  | 155 |  |  |  | — |
Real estate |  |  | 10 |  |  |  | — |  |  |  | 10 |  |  |  | — |
Other (mainly insurance assets – contracts and reserves) |  |  | 191 |  |  |  | — |  |  |  | 49 |  |  |  | 142 |
TOTAL |  |  | 743 |  |  |  | 8 |  |  |  | 568 |  |  |  | 167 |
The Company’s detailed pension plan asset allocation including the fair-value measurements of those plan assets as at December 31, 2020 is as follows:
|  | Total |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Cash and cash equivalents |  |  | 4 |  |  |  | 4 |  |  |  | — |  |  |  | — |
Equity securities |  |  | 167 |  |  |  | 2 |  |  |  | 165 |  |  |  | — |
Government debt securities |  |  | 86 |  |  |  | — |  |  |  | 86 |  |  |  | — |
Corporate debt securities |  |  | 105 |  |  |  | — |  |  |  | 81 |  |  |  | 24 |
Investment funds |  |  | 153 |  |  |  | 3 |  |  |  | 150 |  |  |  | — |
Real estate |  |  | 11 |  |  |  | — |  |  |  | 11 |  |  |  | — |
Other (mainly insurance assets – contracts and reserves) |  |  | 192 |  |  |  | — |  |  |  | 54 |  |  |  | 138 |
TOTAL |  |  | 718 |  |  |  | 9 |  |  |  | 547 |  |  |  | 162 |
Reconciliation for Plan Assets Measured at Fair Value Using Unobservable Inputs (Level 3) | For plan assets measured at fair value using significant unobservable inputs (Level 3), the reconciliation between January 1, 2021 and December 31, 2021 is presented as follows:
|  | Fair Value Measurements using Significant Unobservable Inputs (Level 3) |
January 1, 2021 |  |  | 162 |
Contributions (employer and employee) |  |  | 15 |
Actual return on plan assets |  |  | 2 |
Net benefit payments (a) |  |  | 1 |
Settlements |  |  | (8 | )
Foreign currency translation adjustment |  |  | (5 | )
December 31, 2021 |  |  | 167 |
(a) | Net cash flows between benefits paid from the insurance contracts and benefits transferred into the insurance contracts by employees.
For plan assets measured at fair value using significant unobservable inputs (Level 3), the reconciliation between January 1, 2020 and December 31, 2020 is presented as follows:
|  | Fair Value Measurements using Significant Unobservable Inputs (Level 3) |
January 1, 2020 |  |  | 113 |
Contributions (employer and employee) |  |  | 14 |
Actual return on plan assets |  |  | 2 |
Net benefit payments (a) |  |  | 11 |
Settlements |  |  | — |
Transfer in Level 3 |  |  | 10 |
Foreign currency translation adjustment |  |  | 12 |
December 31, 2020 |  |  | 162 |
(a) | Net cash flows between benefits paid from the insurance contracts and benefits transferred into the insurance contracts by employees.
Estimated Future Benefit Payments | The Company’s estimated future benefit payments as at December 31, 2021 are as follows:
Years |  | Pension Benefits |  |  | Other Long-term Benefits |
2022 |  |  | 38 |  |  |  | 5 |
2023 |  |  | 39 |  |  |  | 4 |
2024 |  |  | 48 |  |  |  | 7 |
2025 |  |  | 57 |  |  |  | 9 |
2026 |  |  | 67 |  |  |  | 8 |
From 2027 to 2031 |  |  | 299 |  |  |  | 41 |

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