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Retirement Benefits (Tables)
 3 Months Ended
Mar. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Weighted Average Actuarial Assumptions Utilized to Calculate the Net Periodic Benefit Costs
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. PlansPension Benefits
March 31,20242023
Weighted average assumptions:
Expected return on plan assets5.44 %5.31 %
Discount rate4.95 %5.16 %
Rate of compensation increase *3.16 %3.16 %
(*) There are no rate of compensation increase assumptions for the U.S. defined benefit plans since future benefit accruals were discontinued for those plans after December 31, 2016 and earned benefits are not subject to final salary level adjustments.
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
For the Three Months Ended March 31,
Pension Benefits
(In millions)20242023
Service cost$6 $6 
Interest cost144 148 
Expected return on plan assets(219)(212)
Recognized actuarial loss8 6 
Net benefit credit$(61)$(52)
The following table provides the amounts reported in the consolidated statements of income:
Combined U.S. and significant non-U.S. Plans
For the Three Months Ended March 31,
Pension Benefits
(In millions)20242023
Compensation and benefits expense$6 $6 
Other net benefit credits(67)(58)
Net benefit credit$(61)$(52)
U.S. Plans only
For the Three Months Ended March 31,
Pension Benefits
(In millions)20242023
Interest cost$62 $65 
Expected return on plan assets(76)(78)
Recognized actuarial loss 5 5 
Net benefit credit$(9)$(8)
Significant non-U.S. Plans only
For the Three Months Ended March 31,
Pension Benefits
(In millions)20242023
Service cost$6 $6 
Interest cost82 83 
Expected return on plan assets(143)(134)
Recognized actuarial loss3 1 
Net benefit credit$(52)$(44)