Retirement Plans and Post Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Net Funded Status and Assumptions Used in Calculating Benefit Obligation [Table Text Block]

The projected benefit obligation is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated salary increases. The following table details information regarding our pension plans at December 31, 2022, and 2021 (dollars in millions):


	2022		2021
Change in benefit obligation:
Beginning of year balance	$	301	$	319
Service cost	3		1
Interest cost	7		7
Actuarial (gains) losses, net	(47)		(8)


Foreign exchange rate changes	(2)		1
Benefits paid	(13)		(19)
Pension settlements	(247)		—
End of year balance	$	3	$	301
Change in assets (fair value):
Beginning of year balance	$	296	$	310
Actual return on plan assets	(33)		5
Employer contribution	5		—
Foreign exchange rate changes	(2)		1
Benefits paid	(13)		(19)
Pension settlements	(247)		—
End of year balance	$	6	$	296
Plan assets less than benefit obligations	$	2	$	(6)

Amounts included in the balance sheet:
Non-current pension assets, included in “Other assets”	$	4	$	6
Current pension liabilities, included in “Accounts payable and accrued liabilities”	—		—
Non-current pension liabilities, included in “Other long-term liabilities”	(2)		(12)
Net amount recognized	$	2	$	(6)

Amounts in accumulated comprehensive loss:
Net actuarial loss	$	(1)	$	(95)
Prior service costs	(6)		(6)
Total pre-tax amounts in accumulated comprehensive loss	$	(6)	$	(101)

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

The changes recognized in other comprehensive loss were as follows (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
Pension settlements, net of tax	$	62	$	2	$	—
Net actuarial gain (loss) and prior service (cost) arising during the period, net of tax	5		(1)		3
Amortization of actuarial loss, prior service cost, net of tax	4		5		5
Total amounts recognized in other comprehensive income	$	71	$	5	$	8

Defined Benefit Plan, Assumptions [Table Text Block]

Weighted-average assumptions used to calculate our benefit obligations at December 31, 2022, and 2021 were as follows:


	2022		2021
Discount rate:
U.S.	2.3	%	2.6	%
Canada	3.8	%	2.6	%
Rate of compensation increase:
U.S.	NA		NA
Canada	NA		NA

Schedule of Net Benefit Costs [Table Text Block]

The following table sets forth the net periodic pension cost for our defined benefit pension plans. The components of our net periodic pension costs consisted of the following (dollars in millions):


	Year Ended December 31,
	2022		2021		2020
Service cost	$	3	$	1	$	1
Other components of net periodic pension cost:
Interest cost	7		7		9
Expected return on plan assets	(7)		(13)		(14)
Amortization of prior service cost and net transition asset	1		1		1
Amortization of net actuarial loss	5		6		6
Net periodic pension cost before loss due to settlement	8		2		2
Loss due to pension settlement	82		2		—
Total net periodic pension cost	$	91	$	4	$	2

Net periodic pension cost included in cost of sales	$	—	$	—	$	—
Net periodic pension cost included in selling, general, and administrative expenses	3		1		1
Net periodic pension cost included in other non-operating items	88		3		1
	$	91	$	4	$	2

Weighted average assumptions used to calculate our net periodic pension costs for the years ended December 31, 2022, 2021, and 2020 were as follows:


	2022		2021		2020
Discount rate:
U.S.	2.6	%	2.3	%	3.1	%
Canada	2.6	%	2.3	%	3.0	%

Expected return on plan assets:
U.S.	3.0	%	5.3	%	5.8	%
Canada	2.0	%	2.3	%	3.2	%

Rate of compensation increase:
U.S.	NA		NA		NA
Canada	NA		NA		3.5	%

Schedule of Allocation of Plan Assets [Table Text Block]

The actual and target allocations at the measurement dates are as follows:


	Target Allocation 2022		Actual Allocation
			2022		2021
Asset category
U.S. Plans

Debt securities	—	%	—	%	76	%


Cash and cash equivalents	100	%	100	%	24	%
Total Allocation for U.S. Plans	100	%	100	%	100	%

Non-U.S. Plans
Debt securities	—	%	—	%	22	%
Multi-Strategy Funds	—	%	—	%	59	%
Cash and cash equivalents	100	%	100	%	19	%
Total Allocation for Non-U.S. Plans	100	%	100	%	100	%

The fair value of our pension plan assets and fair value asset categories and the level of inputs as defined in Note 1 at December 31, 2022, and 2021, are as follows (dollars in millions):


	December 31, 2022
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Net Asset Value



Fixed-income investment funds:
Domestic bond funds	—		—		—		—		—
International bond funds	—		—		—		—		—

Cash and cash equivalents	6		6		—		—		—
Total	$	6	$	6	$	—	$	—	$	—

	December 31, 2021
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Net Asset Value
Equity investment funds:
Domestic stock funds	180		—		180		—		—
International stock funds	47		—		13		—		34




Cash and cash equivalents	68		58		11		—		—
Total	$	296	$	58	$	204	$	—	$	34

Schedule of benefit obligation by plan category [Table Text Block]

Benefit obligations by plan category are as follows (dollars in millions):


	2022
	U.S.		Canada		Total
Fair value of plan assets	$	1	$	4	$	6
Benefit obligation	2		2		3
Funded Status	$	—	$	3	$	2

	2021
	U.S.		Canada		Total
Fair value of plan assets	$	237	$	59	$	296
Benefit obligation	247		54		301
Funded Status	$	(11)	$	5	$	(6)