Retirement Benefits (Tables)

3 Months Ended

Mar. 31, 2023

Retirement Benefits [Abstract]

Schedule of Assumptions Used

The weighted average actuarial assumptions utilized to calculate the net periodic benefit costs for the U.S. and significant non-U.S. defined benefit plans are as follows:

Combined U.S. and significant non-U.S. Plans	Pension Benefits
March 31,	2023		2022
Weighted average assumptions:
Expected return on plan assets	5.31	%	4.56	%
Discount rate	5.16	%	2.28	%
Rate of compensation increase	3.16	%	2.16	%

Schedule of Net Benefit Costs

The components of the net benefit credit for defined benefit plans are as follows:

Combined U.S. and significant non-U.S. Plans	Pension Benefits
For the Three Months Ended March 31,
(In millions)	2023		2022
Service cost	$	6	$	8
Interest cost	148		100
Expected return on plan assets	(212)		(202)
Recognized actuarial loss	6		39
Net benefit credit	$	(52)	$	(55)

Amounts recorded in the Consolidated Statements of Income
Combined U.S. and significant non-U.S. Plans	Pension Benefits
For the Three Months Ended March 31,
(In millions)	2023		2022
Compensation and benefits expense	$	6	$	8
Other net benefit credit	(58)		(63)
Net benefit credit	$	(52)	$	(55)

U.S. Plans only	Pension Benefits
For the Three Months Ended March 31,
(In millions)	2023		2022
Interest cost	$	65	$	48
Expected return on plan assets	(78)		(84)
Recognized actuarial loss	5		19
Net benefit credit	$	(8)	$	(17)

Significant non-U.S. Plans only	Pension Benefits
For the Three Months Ended March 31,
(In millions)	2023		2022
Service cost	$	6	$	8
Interest cost	83		52
Expected return on plan assets	(134)		(118)
Recognized actuarial loss	1		20
Net benefit credit	$	(44)	$	(38)