Long-term Employee Benefits

6 Months Ended

Jun. 30, 2023

General Discussion Of Pension And Other Postretirement Benefits [Abstract]

Long-term Employee Benefits

Note 22. Long-term Employee Benefits

Chemours sponsors defined benefit pension plans for certain of its employees in various jurisdictions outside of the U.S. The Company’s net periodic pension (cost) income is based on estimated values and the use of assumptions about the discount rate, expected return on plan assets, and the rate of future compensation increases received by its employees.

The following table sets forth the Company’s net periodic pension cost and amounts recognized in other comprehensive income (loss) for the three and six months ended June 30, 2023 and 2022.

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Service cost	$	(2	)	$	(3	)	$	(4	)	$	(7	)
Interest cost		(4	)		(1	)		(7	)		(3	)
Expected return on plan assets		5			5			10			9
Amortization of actuarial loss		(2	)		(2	)		(4	)		(4	)
Amortization of prior service gain		1			—			1			1
Total net periodic pension cost	$	(2	)	$	(1	)	$	(4	)	$	(4	)
Amortization of actuarial loss		2			2			4			4
Amortization of prior service gain		(1	)		—			(1	)		(1	)
Effect of foreign exchange rates		(1	)		4			(2	)		7
Benefit recognized in other comprehensive income		—			6			1			10
Total changes in plan assets and benefit obligations recognized in other comprehensive income	$	(2	)	$	5		$	(3	)	$	6

The Company made cash contributions of $2 and $7 to its defined benefit pension plans during the three and six months, respectively, in each of the periods ended June 30, 2023 and 2022. The Company expects to make additional cash contributions of $4 to its defined benefit pension plans during the remainder of 2023.