Note 11 - Retirement Plans and Other Postretirement Benefits

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Retirement Benefits [Text Block]

NOTE 11: RETIREMENT PLANS AND OTHER POSTRETIREMENT BENEFITS

Components of the net periodic benefit cost for all major U.S. and non-U.S. defined benefit plans are as follows:

	Three Months Ended
	March 31,
	2023						2022
(in millions)	U.S.			Non-U.S.			U.S.			Non-U.S.
Major defined benefit plans:
Service cost	$	3		$	1		$	3		$	1
Interest cost		29			5			15			2
Expected return on plan assets		(64	)		(5	)		(44	)		(4	)
Amortization of:
Prior service cost (credit)		2			—			(2	)		—
Actuarial (gain) loss		(7	)		—			—			3
Total net pension (income) expense	$	(37	)	$	1		$	(28	)	$	2