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Pension And Other Postretirement Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2021
Defined Benefit Plans and Other Post-Retirement Benefit Plans [Line Items]  
Funded Status Of Pension and Postretirement Benefit Plans
The following sets forth the funded status of the U.S. pension, non-U.S. pension and postretirement benefit plans as of the most recent actuarial valuations using measurement dates of December 31 ($ in millions):
 U.S. Pension BenefitsNon-U.S. Pension BenefitsPostretirement Benefits
 202120202021202020212020
Change in pension benefit obligation:
Benefit obligation at beginning of year$(2,718)$(2,468)$(2,161)$(1,446)$(148)$(139)
Service cost— — (44)(40)— — 
Interest cost(44)(69)(19)(22)(2)(4)
Employee/retiree contributions— — (7)(6)(2)(2)
Benefits and other expenses paid167 165 59 59 14 12 
Acquisitions and other— (96)— (436)— — 
Actuarial gain (loss)63 (273)112 (106)(15)
Amendments, settlements and curtailments— 23 18 — — 
Foreign exchange rate impact— — 98 (168)— — 
Benefit obligation at end of year(2,532)(2,718)(1,944)(2,161)(135)(148)
Change in plan assets:
Fair value of plan assets at beginning of year2,125 1,866 1,331 1,138 — — 
Actual return on plan assets335 227 80 104 — — 
Employer contributions10 140 50 51 12 11 
Employee contributions— — 
Amendments and settlements— (22)(10)(7)— — 
Benefits and other expenses paid(167)(165)(59)(59)(14)(12)
Acquisitions and other— 79 — 30 — — 
Foreign exchange rate impact— — (39)68 — — 
Fair value of plan assets at end of year2,303 2,125 1,360 1,331 — — 
Funded status$(229)$(593)$(584)$(830)$(135)$(148)
Projected Benefit Obligation and Fair Value of Plan Assets
Projected benefit obligation (“PBO”) and fair value of plan assets for pension plans and postretirement benefit plans with PBO’s in excess of plan assets ($ in millions):
U.S. Pension BenefitsNon-U.S. Pension BenefitsPostretirement Benefits
202120202021202020212020
Projected benefit obligation
$2,532 $2,718 $1,125 $1,366 $135 $148 
Fair value of plan assets
2,303 2,125 357 441 — — 
Accumulated Benefit Obligation and Fair Value of Plan Assets
Accumulated benefit obligation (“ABO”) and fair value of plan assets for pension plans and postretirement benefit plans with ABO’s in excess of plan assets ($ in millions):
U.S. Pension BenefitsNon-U.S. Pension BenefitsPostretirement Benefits
202120202021202020212020
Accumulated benefit obligation
$2,532 $2,718 $1,184 $1,257 $135 $148 
Fair value of plan assets
2,303 2,125 521 434 — — 
Weighted Average Assumptions Used To Determine Benefit Obligations And Cost
Weighted average assumptions used to determine benefit obligations at date of measurement:
 U.S. Pension BenefitsNon-U.S. Pension BenefitsPostretirement Benefits
 202120202021202020212020
Discount rate2.7 %2.3 %1.4 %1.1 %2.6 %2.1 %
Rate of compensation increaseN/AN/A2.6 %2.5 %N/AN/A
Components of Net Periodic Pension and Postretirement Benefit (Cost)
Components of net periodic pension and postretirement benefit (cost) ($ in millions):
 U.S. Pension BenefitsNon-U.S. Pension BenefitsPostretirement Benefits
202120202021202020212020
Service cost$— $— $(44)$(40)$— $— 
Interest cost(44)(69)(19)(22)(2)(4)
Expected return on plan assets123 121 42 37 — — 
Amortization of prior service (cost) credit(1)(1)
Amortization of net loss(46)(37)(11)(10)(2)(1)
Curtailment and settlement gains (losses) recognized— — (1)(1)— — 
Net periodic pension benefit (cost)$32 $14 $(32)$(35)$(2)$(3)
Benefit Payments That Reflect Expected Future Service
The following sets forth benefit payments, which reflect expected future service, as appropriate, expected to be paid by the plans in the periods indicated ($ in millions):
U.S. Pension PlansNon-U.S. Pension PlansPostretirement Benefit PlansAll Plans
2022$193 $55 $15 $263 
2023193 61 13 267 
2024191 60 12 263 
2025190 60 12 262 
2026189 64 11 264 
2027 - 2031751 341 45 1,137 
Pension benefit plans  
Defined Benefit Plans and Other Post-Retirement Benefit Plans [Line Items]  
Weighted Average Assumptions Used To Determine Benefit Obligations And Cost
Weighted average assumptions used to determine net periodic pension benefit (cost) at date of measurement:
 U.S. PlansNon-U.S. Plans
 2021202020212020
Discount rate2.3 %3.2 %1.1 %1.4 %
Expected long-term return on plan assets6.8 %7.0 %3.3 %3.4 %
Rate of compensation increaseN/AN/A2.5 %2.4 %
Fair Values Of Pension Plan Assets
The fair values of the Company’s pension plan assets for both the U.S. and non-U.S. plans as of December 31, 2021 and 2020, by asset category were as follows ($ in millions):
Quoted Prices in Active Market (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Total
20212020202120202021202020212020
Cash and equivalents$85 $175 $— $— $— $— $85 $175 
Equity securities:
Common stock486 503 — — — — 486 503 
Preferred stock— — — — 
Fixed income securities:
Corporate bonds— — 47 42 — — 47 42 
Government issued— — 46 58 — — 46 58 
Mutual funds223 244 248 51 — — 471 295 
Insurance contracts— — 357 354 — — 357 354 
Total$796 $928 $698 $505 $— $— 1,494 1,433 
Investments measured at NAV (a):
Common/collective trusts1,073 1,198 
Venture capital, partnerships and other private investments1,096 825 
Total assets at fair value$3,663 $3,456 
(a)    The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the total plan assets.