Retirement Benefits (Tables)
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12 Months Ended |
Dec. 31, 2022 |
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| Retirement Benefits [Abstract] |
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| Schedule of weighted average actuarial assumptions utilized defined benefit plans |
The weighted average actuarial assumptions utilized for the U.S. and significant non-U.S. defined benefit plans and post-retirement benefit plans are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Pension
Benefits | | Post-retirement
Benefits | | | 2022 | | 2021 | | 2022 | | 2021 | | Weighted average assumptions: | | | | | | | | | Discount rate (for expense) | 2.28 | % | | 1.92 | % | | 2.36 | % | | 2.42 | % | | Expected return on plan assets | 4.57 | % | | 4.73 | % | | — | | | — | | | Rate of compensation increase (for expense)* | 3.34 | % | | 1.85 | % | | — | | | — | | | Discount rate (for benefit obligation) | 5.16 | % | | 2.28 | % | | 4.92 | % | | 2.36 | % | | Rate of compensation increase (for benefit obligation)* | 3.16 | % | | 2.16 | % | | — | | | — | |
The weighted average actuarial assumptions utilized in determining expense during the year and benefit obligation at the end of the year for the U.S. defined benefit and other U.S. post-retirement plans are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | U.S. Pension
Benefits | | U.S. Post-retirement Benefits | | 2022 | | 2021 | | 2022 | | 2021 | | Weighted average assumptions: | | | | | | | | | Discount rate (for expense) | 3.00 | % | | 2.73 | % | | 2.56 | % | | 2.18 | % | | Expected return on plan assets | 6.88 | % | | 7.03 | % | | — | | | — | | | | | | | | | | | Discount rate (for benefit obligation) | 5.53 | % | | 3.00 | % | | 5.31 | % | | 2.56 | % | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | Non-U.S. Pension
Benefits | | Non-U.S.
Post-retirement Benefits | | 2022 | | 2021 | | 2022 | | 2021 | | Weighted average assumptions: | | | | | | | | | Discount rate (for expense) | 1.89 | % | | 1.49 | % | | 2.28 | % | | 1.96 | % | | Expected return on plan assets | 3.64 | % | | 3.89 | % | | — | | | — | | | Rate of compensation increase (for expense) | 3.34 | % | | 2.84 | % | | — | | | — | | | Discount rate (for benefit obligation) | 4.89 | % | | 1.89 | % | | 4.73 | % | | 2.28 | % | | Rate of compensation increase (for benefit obligation) | 3.16 | % | | 3.34 | % | | — | | | — | |
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| Schedule of components of net periodic benefit cost for U.S. defined benefit and other postretirement benefit plans |
The components of the net benefit (credit) or cost for the years 2022, 2021 and 2020 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Combined U.S. and significant non-U.S. Plans | Pension | | Post-retirement | | For the Years Ended December 31, | Benefits | | Benefits | | (In millions) | 2022 | | 2021 | | 2020 | | 2022 | | 2021 | | 2020 | | Service cost | $ | 28 | | | $ | 38 | | | $ | 36 | | | $ | — | | | $ | 1 | | | $ | — | | | Interest cost | 389 | | | 341 | | | 421 | | | 3 | | | 2 | | | 3 | | | Expected return on plan assets | (778) | | | (832) | | | (844) | | | — | | | — | | | — | | | Amortization of prior service | 1 | | | — | | | — | | | (2) | | | (2) | | | (2) | | | Recognized actuarial loss (gain) | 149 | | | 206 | | | 161 | | | 1 | | | 1 | | | — | | | Net periodic benefit (credit) cost | (211) | | | (247) | | | (226) | | | 2 | | | 2 | | | 1 | | | Curtailment loss | — | | | 2 | | | — | | | — | | | — | | | — | | | Plan termination | — | | | — | | | 1 | | | — | | | — | | | — | | | Settlement loss | 2 | | | 5 | | | 3 | | | — | | | — | | | — | | | Net benefit (credit) cost | $ | (209) | | | $ | (240) | | | $ | (222) | | | $ | 2 | | | $ | 2 | | | $ | 1 | |
The following table provides the amounts reported in the consolidated statements of income: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Combined U.S. and significant non-U.S. Plans | Pension
Benefits | | Post-retirement
Benefits | | For the Years Ended December 31, | | | (In millions) | 2022 | | 2021 | 2020 | | 2022 | | 2021 | 2020 | | Compensation and benefits expense | $ | 28 | | | $ | 38 | | $ | 36 | | | $ | — | | | $ | 1 | | $ | — | | | Other net benefit (credit) cost | (237) | | | (278) | | (258) | | | 2 | | | 1 | | 1 | | | Net benefit (credit) cost | $ | (209) | | | $ | (240) | | $ | (222) | | | $ | 2 | | | $ | 2 | | $ | 1 | |
The components of the net benefit (credit) cost for the U.S. defined benefit and other post-retirement benefit plans are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | U.S. Plans only | Pension
Benefits | | Post-retirement
Benefits | | For the Years Ended December 31, | | | (In millions) | 2022 | | 2021 | | 2020 | | 2022 | | 2021 | | 2020 | | | | | | | | | | | | | | Interest cost | $ | 193 | | | $ | 184 | | | $ | 213 | | | $ | 1 | | | $ | 1 | | | $ | 1 | | | Expected return on plan assets | (336) | | | (327) | | | (345) | | | — | | | — | | | — | | | | | | | | | | | | | | | Recognized actuarial loss (gain) | 74 | | | 90 | | | 72 | | | — | | | (1) | | | — | | | Net benefit (credit) cost | $ | (69) | | | $ | (53) | | | $ | (60) | | | $ | 1 | | | $ | — | | | $ | 1 | | | | | | | | | | | | | | | | | | | | | | | | | |
The components of the net benefit (credit) or cost for the non-U.S. defined benefit and other post-retirement benefit plans and the curtailment, settlement and termination expenses are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Years Ended December 31, | Non-U.S. Pension
Benefits | | Non-U.S. Post-retirement
Benefits | | (In millions) | 2022 | | 2021 | | 2020 | | 2022 | | 2021 | | 2020 | | Service cost | $ | 28 | | | $ | 38 | | | $ | 36 | | | $ | — | | | $ | 1 | | | $ | — | | | Interest cost | 196 | | | 157 | | | 208 | | | 2 | | | 1 | | | 2 | | | Expected return on plan assets | (442) | | | (505) | | | (499) | | | — | | | — | | | — | | | Amortization of prior service credit | 1 | | | — | | | — | | | (2) | | | (2) | | | (2) | | | Recognized actuarial loss | 75 | | | 116 | | | 89 | | | 1 | | | 2 | | | — | | | Net periodic benefit (credit) cost | (142) | | | (194) | | | (166) | | | 1 | | | 2 | | | — | | | Settlement loss | 2 | | | 5 | | | 3 | | | — | | | — | | | — | | | Curtailment loss | — | | | 2 | | | — | | | — | | | — | | | — | | | Special termination benefits | — | | | — | | | 1 | | | — | | | — | | | — | | | Net benefit (credit) cost | $ | (140) | | | $ | (187) | | | $ | (162) | | | $ | 1 | | | $ | 2 | | | $ | — | |
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| Schedule of MMC's defined benefit plans and postretirement plans |
The following tables provide information concerning the Company’s U.S. defined benefit pension and post-retirement benefit plans: | | | | | | | | | | | | | | | | | | | | | | | | | U.S. Pension
Benefits | | U.S. Post-retirement
Benefits | | (In millions) | 2022 | | 2021 | | 2022 | | 2021 | | Change in benefit obligation: | | | | | | | | | Benefit obligation at beginning of year | $ | 6,594 | | | $ | 6,914 | | | $ | 28 | | | $ | 31 | | | | | | | | | | | Interest cost | 193 | | | 184 | | | 1 | | | 1 | | | Employee contributions | — | | | — | | | 3 | | | 4 | | | Plan amendments | — | | | 1 | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | Actuarial gain | (1,625) | | | (227) | | | (3) | | | (1) | | | | | | | | | | | Benefits paid | (286) | | | (278) | | | (7) | | | (7) | | | | | | | | | | | Benefit obligation, December 31 | $ | 4,876 | | | $ | 6,594 | | | $ | 22 | | | $ | 28 | | | Change in plan assets: | | | | | | | | | Fair value of plan assets at beginning of year | $ | 5,537 | | | $ | 5,100 | | | $ | 2 | | | $ | 2 | | | | | | | | | | | Actual return on plan assets | (1,005) | | | 680 | | | — | | | — | | | Employer contributions | 30 | | | 35 | | | 4 | | | 3 | | | Employee contributions | — | | | — | | | 3 | | | 4 | | | | | | | | | | | Benefits paid | (286) | | | (278) | | | (7) | | | (7) | | | | | | | | | | | Fair value of plan assets, December 31 | $ | 4,276 | | | $ | 5,537 | | | $ | 2 | | | $ | 2 | | | Net funded status, December 31 | $ | (600) | | | $ | (1,057) | | | $ | (20) | | | $ | (26) | | | Amounts recognized in the consolidated balance sheets: | | | | | | | | | Current liabilities | $ | (31) | | | $ | (31) | | | $ | (1) | | | $ | (1) | | | Non-current liabilities | (569) | | | (1,026) | | | (19) | | | (25) | | | Net liability recognized, December 31 | $ | (600) | | | $ | (1,057) | | | $ | (20) | | | $ | (26) | | | Amounts recognized in other comprehensive income (loss): | | | | | | | | | Prior service cost | $ | (1) | | | $ | (1) | | | $ | — | | | $ | — | | | Net actuarial (loss) gain | (1,419) | | | (1,777) | | | 8 | | | 3 | | | Total recognized accumulated other comprehensive (loss) income, December 31 | $ | (1,420) | | | $ | (1,778) | | | $ | 8 | | | $ | 3 | | | Cumulative employer contributions in excess of (less than) net benefit (credit) cost | 820 | | | 721 | | | (28) | | | (29) | | | Net amount recognized in consolidated balance sheet | $ | (600) | | | $ | (1,057) | | | $ | (20) | | | $ | (26) | | | Accumulated benefit obligation at December 31 | $ | 4,876 | | | $ | 6,594 | | | $ | — | | | $ | — | |
The following tables provide information concerning the Company’s non-U.S. defined benefit pension and post-retirement benefit plans: | | | | | | | | | | | | | | | | | | | | | | | | | Non-U.S. Pension
Benefits | | Non-U.S.
Post-retirement Benefits | | (In millions) | 2022 | | 2021 | | 2022 | | 2021 | | Change in benefit obligation: | | | | | | | | | Benefit obligation at beginning of year | $ | 12,057 | | | $ | 12,998 | | | $ | 68 | | | $ | 73 | | | Service cost | 28 | | | 38 | | | — | | | 1 | | | Interest cost | 196 | | | 157 | | | 2 | | | 1 | | | Employee contributions | 3 | | | 2 | | | — | | | — | | | Plan combination | 2 | | | — | | | — | | | — | | | Actuarial (gain) loss | (3,953) | | | (617) | | | (14) | | | (4) | | | Plan amendments | — | | | 7 | | | — | | | — | | | Effect of settlement | (22) | | | (16) | | | — | | | — | | | Effect of curtailment | — | | | (2) | | | — | | | — | | | | | | | | | | | Benefits paid | (342) | | | (395) | | | (2) | | | (3) | | | Foreign currency changes | (1,083) | | | (115) | | | (6) | | | — | | | | | | | | | | | Benefit obligation, December 31 | $ | 6,886 | | | $ | 12,057 | | | $ | 48 | | | $ | 68 | | | Change in plan assets: | | | | | | | | | Fair value of plan assets at beginning of year | $ | 13,855 | | | $ | 14,028 | | | $ | — | | | $ | — | | | Plan combination | 1 | | | — | | | — | | | — | | | Actual return on plan assets | (3,609) | | | 306 | | | — | | | — | | | Effect of settlement | (22) | | | (16) | | | — | | | — | | | Company contributions | 139 | | | 95 | | | 2 | | | 3 | | | Employee contributions | 3 | | | 2 | | | — | | | — | | | Benefits paid | (342) | | | (395) | | | (2) | | | (3) | | | Foreign currency changes | (1,261) | | | (165) | | | — | | | — | | | | | | | | | | | | | | | | | | | Fair value of plan assets, December 31 | $ | 8,764 | | | $ | 13,855 | | | $ | — | | | $ | — | | | Net funded status, December 31 | $ | 1,878 | | | $ | 1,798 | | | $ | (48) | | | $ | (68) | | | Amounts recognized in the consolidated balance sheets: | | | | | | | | | Non-current assets | $ | 2,127 | | | $ | 2,269 | | | $ | — | | | $ | — | | | Current liabilities | (6) | | | (6) | | | (3) | | | (3) | | | Non-current liabilities | (243) | | | (465) | | | (45) | | | (65) | | | Net asset (liability) recognized, December 31 | $ | 1,878 | | | $ | 1,798 | | | $ | (48) | | | $ | (68) | | | Amounts recognized in other comprehensive loss: | | | | | | | | | Prior service (credit) cost | $ | (16) | | | $ | (18) | | | $ | 5 | | | $ | 7 | | | Net actuarial loss | (2,610) | | | (2,904) | | | 6 | | | (10) | | | Total recognized accumulated other comprehensive (loss) income, December 31 | $ | (2,626) | | | $ | (2,922) | | | $ | 11 | | | $ | (3) | | | Cumulative employer contributions in excess of (less than) net benefit (credit) cost | 4,504 | | | 4,720 | | | (59) | | | (65) | | | Net asset (liability) recognized in consolidated balance sheets, December 31 | $ | 1,878 | | | $ | 1,798 | | | $ | (48) | | | $ | (68) | | | Accumulated benefit obligation, December 31 | $ | 6,776 | | | $ | 11,830 | | | $ | — | | | $ | — | |
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| Schedule of total recognized in net periodic benefit cost and other comprehensive income (loss) |
| | | | | | | | | | | | | | | | | | | | | | | | | U.S. Pension
Benefits | | U.S. Post-retirement
Benefits | | (In millions) | 2022 | | 2021 | | 2022 | | 2021 | | Reconciliation of net actuarial (loss) gain recognized in accumulated other comprehensive income (loss): | | | | | | | | | Beginning balance | $ | (1,777) | | | $ | (2,446) | | | $ | 3 | | | $ | 3 | | | Recognized as component of net benefit (credit) cost | 74 | | | 90 | | | — | | | (1) | | | Changes in plan assets and benefit obligations recognized in other comprehensive income (loss): | | | | | | | | | | | | | | | | | Other | — | | | (1) | | | 2 | | | — | | | Liability experience | 1,625 | | | 227 | | | 3 | | | 1 | | | Asset experience | (1,341) | | | 353 | | | — | | | — | | | Total gain recognized as change in plan assets and benefit obligations | 284 | | | 579 | | | 5 | | | 1 | | | Net actuarial (loss) gain, December 31 | $ | (1,419) | | | $ | (1,777) | | | $ | 8 | | | $ | 3 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Non-U.S. Pension
Benefits | | Non-U.S.
Post-retirement Benefits | | (In millions) | 2022 | | 2021 | | 2022 | | 2021 | | Reconciliation of prior service (cost) credit recognized in accumulated other comprehensive income (loss): | | | | | | | | | Beginning balance | $ | (18) | | | $ | (13) | | | $ | 7 | | | $ | 9 | | | Recognized as component of net benefit (credit) cost: | | | | | | | | | Amortization of prior service credit | — | | | — | | | (2) | | | (2) | | | Effect of curtailment | — | | | 2 | | | — | | | — | | | Total recognized as component of net benefit (credit) cost | — | | | 2 | | | (2) | | | (2) | | | Changes in plan assets and benefit obligations recognized in other comprehensive income: | | | | | | | | | Plan amendments | — | | | (7) | | | — | | | — | | | Exchange rate adjustments | 2 | | | — | | | — | | | — | | | Prior service (cost) credit, December 31 | $ | (16) | | | $ | (18) | | | $ | 5 | | | $ | 7 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Non-U.S. Pension
Benefits | | Non-U.S.
Post-retirement Benefits | | (In millions) | 2022 | | 2021 | | 2022 | | 2021 | | Reconciliation of net actuarial (loss) gain recognized in accumulated other comprehensive (loss) income: | | | | | | | | | Beginning balance | $ | (2,904) | | | $ | (3,467) | | | $ | (10) | | | $ | (16) | | | Recognized as component of net benefit (credit) cost: | | | | | | | | | Amortization of net loss | 75 | | | 116 | | | 1 | | | 2 | | | Effect of settlement | 2 | | | 5 | | | — | | | — | | | Total recognized as component of net benefit (credit) cost | 77 | | | 121 | | | 1 | | | 2 | | | Changes in plan assets and benefit obligations recognized in other comprehensive income (loss): | | | | | | | | | Liability experience | 3,953 | | | 617 | | | 14 | | | 4 | | | Asset experience | (4,051) | | | (199) | | | — | | | — | | | | | | | | | | | Effect of curtailment | — | | | 2 | | | — | | | — | | | Total amount recognized as change in plan assets and benefit obligations | (98) | | | 420 | | | 14 | | | 4 | | | Exchange rate adjustments | 315 | | | 22 | | | 1 | | | — | | | Net actuarial (loss) gain, December 31 | $ | (2,610) | | | $ | (2,904) | | | $ | 6 | | | $ | (10) | |
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| Schedule of amounts recognized in other comprehensive income (loss) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Years Ended December 31, | U.S. Pension
Benefits | | U.S. Post-retirement
Benefits | | (In millions) | 2022 | | 2021 | | 2020 | | 2022 | | 2021 | | 2020 | | Total recognized in net benefit (credit) cost and other comprehensive (income) loss | $ | (427) | | | $ | (722) | | | $ | 272 | | | $ | (4) | | | $ | — | | | $ | 2 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Years Ended December 31, | Non-U.S. Pension
Benefits | | Non-U.S. Post-retirement
Benefits | | (In millions) | 2022 | | 2021 | | 2020 | | 2022 | | 2021 | | 2020 | | Total recognized in net benefit (credit) cost and other comprehensive (income) loss | $ | (436) | | | $ | (745) | | | $ | 261 | | | $ | (13) | | | $ | (2) | | | $ | 13 | |
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| Schedule of estimated future benefit payments for its pension and postretirement benefits |
The estimated future benefit payments for the Company's pension and post-retirement benefit plans are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | For the Years Ended December 31, | Pension
Benefits | | Post-retirement
Benefits | | (In millions) | U.S. | | Non-U.S. | | U.S. | | Non-U.S. | | 2023 | $ | 312 | | | $ | 337 | | | $ | 3 | | | $ | 3 | | | 2024 | $ | 324 | | | $ | 344 | | | $ | 3 | | | $ | 3 | | | 2025 | $ | 337 | | | $ | 352 | | | $ | 3 | | | $ | 3 | | | 2026 | $ | 343 | | | $ | 360 | | | $ | 2 | | | $ | 3 | | | 2027 | $ | 347 | | | $ | 371 | | | $ | 2 | | | $ | 3 | | | 2028-2032 | $ | 1,760 | | | $ | 2,054 | | | $ | 8 | | | $ | 15 | |
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| Summary of the U.S. and non-U.S. plans investments measured at fair value on a recurring basis |
The following table sets forth, by level within the fair value hierarchy, a summary of the U.S. and non-U.S. plans' investments measured at fair value on a recurring basis at December 31, 2022 and 2021: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2022 | Assets (In millions) | Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | Significant
Unobservable
Inputs
(Level 3) | | NAV | | Total | | Common/collective trusts | $ | 43 | | | $ | — | | | $ | — | | | $ | 3,995 | | | $ | 4,038 | | | Corporate obligations | — | | | 2,402 | | | — | | | — | | | 2,402 | | | Corporate stocks | 527 | | | 36 | | | 1 | | | — | | | 564 | | | Private equity/partnerships | — | | | — | | | — | | | 1,433 | | | 1,433 | | | Government securities | 15 | | | 4,662 | | | — | | | — | | | 4,677 | | | Real estate | — | | | — | | | — | | | 261 | | | 261 | | | Short-term investment funds | 609 | | | 3 | | | — | | | — | | | 612 | | | Company common stock | 331 | | | — | | | — | | | — | | | 331 | | | Other investments | 10 | | | 11 | | | 308 | | | — | | | 329 | | | Total investments | $ | 1,535 | | | $ | 7,114 | | | $ | 309 | | | $ | 5,689 | | | $ | 14,647 | | | Net derivative liabilities | — | | | (1,605) | | | — | | | — | | | (1,605) | | | Net investments | $ | 1,535 | | | $ | 5,509 | | | $ | 309 | | | $ | 5,689 | | | $ | 13,042 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2021 | Assets (In millions) | Quoted Prices in
Active Markets
for Identical
Assets
(Level 1) | | Significant
Other
Observable
Inputs
(Level 2) | | Significant
Unobservable
Inputs
(Level 3) | | NAV | | Total | | Common/collective trusts | $ | 476 | | | $ | — | | | $ | — | | | $ | 5,221 | | | $ | 5,697 | | | Corporate obligations | — | | | 4,209 | | | — | | | — | | | 4,209 | | | Corporate stocks | 2,368 | | | 44 | | | 1 | | | — | | | 2,413 | | | Private equity/partnerships | — | | | — | | | — | | | 1,531 | | | 1,531 | | | Government securities | 15 | | | 7,364 | | | — | | | — | | | 7,379 | | | Real estate | — | | | — | | | — | | | 356 | | | 356 | | | Short-term investment funds | 681 | | | — | | | — | | | — | | | 681 | | | Company common stock | 348 | | | — | | | — | | | — | | | 348 | | | Other investments | 11 | | | 6 | | | 662 | | | — | | | 679 | | | Total investments | $ | 3,899 | | | $ | 11,623 | | | $ | 663 | | | $ | 7,108 | | | $ | 23,293 | | | Net derivative liabilities | — | | | (3,899) | | | — | | | — | | | (3,899) | | | Net investments | $ | 3,899 | | | $ | 7,724 | | | $ | 663 | | | $ | 7,108 | | | $ | 19,394 | |
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| Summary of changes in the fair value of the plans' Level 3 assets |
The tables below set forth a summary of changes in the fair value of the plans’ Level 3 assets for the years ended December 31, 2022 and December 31, 2021: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Assets (In millions) | Fair Value,
January 1, 2022 | | Purchases | | Sales | | Unrealized
Gain/
(Loss) | | Realized
Gain/
(Loss) | | Exchange
Rate
Impact | | Transfers
in/(out)
and
Other | | Fair
Value, December 31, 2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other investments | $ | 662 | | | $ | 18 | | | $ | (19) | | | $ | (302) | | | $ | — | | | $ | (51) | | | $ | — | | | $ | 308 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate stocks | 1 | | | — | | | — | | | — | | | — | | | — | | | — | | | 1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total assets | $ | 663 | | | $ | 18 | | | $ | (19) | | | $ | (302) | | | $ | — | | | $ | (51) | | | $ | — | | | $ | 309 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Assets (In millions) | Fair Value,
January 1, 2021 | | Purchases | | Sales | | Unrealized
Gain/
(Loss) | | Realized
Gain/
(Loss) | | Exchange
Rate
Impact | | Transfers
in/(out)
and
Other | | Fair
Value, December 31, 2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other investments | $ | 773 | | | $ | 19 | | | $ | (15) | | | $ | (78) | | | $ | 1 | | | $ | (36) | | | $ | (2) | | | $ | 662 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate stocks | 1 | | | 1 | | | — | | | (1) | | | — | | | — | | | — | | | 1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total assets | $ | 774 | | | $ | 20 | | | $ | (15) | | | $ | (79) | | | $ | 1 | | | $ | (36) | | | $ | (2) | | | $ | 663 | |
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