XML 48 R34.htm IDEA: XBRL DOCUMENT v3.22.0.1
Retirement Benefits (Tables)
12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Schedule of Net Benefit Plan Costs
The net periodic cost (benefit) for pension and Postretirement Health Care Benefits plans was as follows:
U.S. Pension Benefit PlansNon-U.S. Pension Benefit PlansPostretirement Health Care Benefits Plan
Years ended December 31202120202019202120202019202120202019
Service cost$ $— $— $1 $$$ $— $— 
Interest cost115 144 202 21 29 36 1 
Expected return on plan assets(235)(225)(275)(99)(85)(85)(11)(10)(10)
Amortization of:
Unrecognized net loss70 58 46 16 15 15 3 
Unrecognized prior service benefit — — (3)(3)— (5)(15)(15)
Settlement loss — 359  — —  — — 
Net periodic cost (benefit)$(50)$(23)$332 $(64)$(42)$(32)$(12)$(20)$(18)
Status Of The Company Plans
The status of the Company’s plans is as follows: 
 U.S. Pension Benefit PlansNon-U.S. Pension Benefit PlansPostretirement Health Care Benefits Plan
  
202120202021202020212020
Change in benefit obligation:
Benefit obligation at January 1$5,226 $4,727 $2,058 $1,814 $71 $73 
Service cost — 1  — 
Interest cost115 144 21 29 1 
Plan amendments —   — 
Actuarial loss (gain)(71)480 (61)171 10 
Foreign exchange valuation adjustment — (31)88  — 
Benefit payments(130)(125)(53)(47)(4)(5)
Benefit obligation at December 31$5,140 $5,226 $1,935 $2,058 $78 $71 
Change in plan assets:
Fair value at January 1$4,083 $3,601 $1,880 $1,641 $181 $160 
Return on plan assets201 604 43 214 9 26 
Company contributions3 9  — 
Foreign exchange valuation adjustment — (9)63  — 
Benefit payments(130)(125)(53)(47)(4)(5)
Fair value at December 31 $4,157 $4,083 $1,870 $1,880 $186 $181 
Funded status of the plan$(983)$(1,143)$(65)$(178)$108 $110 
Unrecognized net loss1,871 1,977 655 675 31 23 
Unrecognized prior service benefit — (77)(80) (5)
Prepaid pension cost$888 $834 $513 $417 $139 $128 
Components of prepaid (accrued) pension cost:
Current benefit liability$(3)$(3)$ $— $ $— 
Non-current benefit liability(980)(1,140)(297)(330) — 
Non-current benefit asset — 232 152 108 110 
Deferred income taxes454 480 61 65 11 
Accumulated other comprehensive loss1,417 1,497 517 530 20 11 
Prepaid pension cost$888 $834 $513 $417 $139 $128 
Weighted Average Actuarial Assumptions Used To Determine Costs For The Plans
Weighted average actuarial assumptions used to determine costs for the plans at the beginning of the fiscal year were as follows: 
U.S. Pension Benefit PlansNon-U.S. Pension Benefit PlansPostretirement Health Care Benefits Plan
202120202021202020212020
Discount rate2.25 %3.10 %1.02 %1.61 %1.57 %2.66 %
Investment return assumption6.75 %6.85 %4.54 %4.66 %6.75 %6.90 %
Weighted Average Actuarial Assumptions Used To Determine Benefit Obligations For The Plans
Weighted average actuarial assumptions used to determine benefit obligations for the plans were as follows: 
 U.S. Pension Benefit PlansNon-U.S. Pension Benefit PlansPostretirement Health Care Benefits Plan
202120202021202020212020
Discount rate2.98 %2.63 %1.82 %1.24 %2.78 %2.39 %
Future compensation increase raten/an/a0.54 %0.43 %n/an/a
Accumulated Benefit Obligations For The Plans
The following table presents the accumulated benefit obligation, projected benefit obligation and fair value of plan assets for our plans that have an accumulated benefit obligation and projected benefit obligation in excess of plan assets:

 U.S. Pension Benefit PlansNon U.S. Pension Benefit Plans
December 312021202020212020
Accumulated benefit obligation$5,140 $5,226 $1,933 $2,055 
Projected benefit obligation5,140 5,226 1,935 2,058 
Fair value of plan assets4,157 4,083 1,870 1,880 
Projected Benefit Obligations For The Plans
The following table presents the accumulated benefit obligation, projected benefit obligation and fair value of plan assets for our plans that have an accumulated benefit obligation and projected benefit obligation in excess of plan assets:

 U.S. Pension Benefit PlansNon U.S. Pension Benefit Plans
December 312021202020212020
Accumulated benefit obligation$5,140 $5,226 $1,933 $2,055 
Projected benefit obligation5,140 5,226 1,935 2,058 
Fair value of plan assets4,157 4,083 1,870 1,880 
Plan Target and Actual Asset Allocation
The weighted-average asset allocations by asset categories for all pension and the Postretirement Health Care Benefits plan were as follows:
 All Pension Benefit PlansPostretirement Health Care Benefits Plan
December 312021202020212020
Target Mix:
Equity securities26 %25 %28 %28 %
Fixed income securities57 %57 %52 %51 %
Cash and other investments17 %18 %20 %21 %
Actual Mix:
Equity securities26 %26 %29 %30 %
Fixed income securities58 %58 %53 %53 %
Cash and other investments16 %16 %18 %17 %
Expected Future Service Benefits Payments
The following benefit payments are expected to be paid: 
YearU.S. Pension Benefit PlansNon-U.S. Pension Benefit PlansPostretirement Health Care Benefits Plan
2022$161 $53 $
2023178 54 
2024197 56 
2025217 57 
2026240 58 
2027-20311,370 310 23