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Retirement Plans and Postretirement Medical Benefits (Tables)
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Summary of Change in Benefit Obligation, Plan Assets and the Funded Status of Defined Benefit Pension Plans The benefit obligations and funded status of defined benefit pension plans are as follows:
United StatesForeign
2023202220232022
Accumulated benefit obligation$1,205,108 $1,205,135 $488,531 $447,401 
Projected benefit obligation
Benefit obligation - beginning of year$1,205,183 $1,609,508 $451,337 $770,468 
Service cost44 55 766 1,214 
Interest cost63,533 44,348 21,238 13,568 
Net actuarial loss (gain)
36,882 (349,261)22,984 (242,488)
Foreign currency changes— — 19,854 (68,519)
Settlements(2,892)(1,574)(213)— 
Benefits paid(97,610)(97,893)(23,199)(22,906)
Benefit obligation - end of year$1,205,140 $1,205,183 $492,767 $451,337 
Fair value of plan assets
Fair value of plan assets - beginning of year$1,161,361 $1,549,157 $438,403 $737,443 
Actual return on plan assets86,044 (293,968)17,057 (218,325)
Company contributions6,587 5,639 16,034 8,731 
Settlements(2,892)(1,574)(213)— 
Foreign currency changes— — 18,605 (66,540)
Benefits paid(97,610)(97,893)(23,199)(22,906)
Fair value of plan assets - end of year$1,153,490 $1,161,361 $466,687 $438,403 
Amounts recognized in the Consolidated Balance Sheets
Noncurrent asset$— $— $27,805 $26,570 
Current liability(5,057)(7,294)(1,694)(1,351)
Noncurrent liability(46,593)(36,528)(52,191)(38,153)
Funded status$(51,650)$(43,822)$(26,080)$(12,934)
Summary of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
Information provided in the table below is only for pension plans with an accumulated benefit obligation in excess of plan assets:
United StatesForeign
2023202220232022
Projected benefit obligation$1,205,141 $1,205,183 $396,690 $38,238 
Accumulated benefit obligation$1,205,108 $1,205,135 $392,586 $37,972 
Fair value of plan assets$1,153,490 $1,161,361 $342,805 $— 
Summary of Amounts Recognized in Other Comprehensive Income (Loss)
Pretax amounts recognized in AOCI consist of:
United StatesForeign
2023202220232022
Net actuarial loss$717,530 $698,815 $331,536 $297,753 
Prior service (credit) cost(85)(105)7,266 7,552 
Transition asset— — (7)(7)
Total$717,445 $698,710 $338,795 $305,298 
Other changes in plan assets and benefit obligations for defined benefit pension plans recognized in other comprehensive income were as follows:
United StatesForeign
2023202220232022
Net actuarial loss
$36,846 $15,788 $35,826 $2,607 
Amortization of net actuarial loss(17,362)(33,164)(2,068)(6,767)
Amortization of prior service credit (cost)20 44 (286)(252)
Settlements(771)(394)25 — 
Total recognized in other comprehensive income $18,733 $(17,726)$33,497 $(4,412)
Other changes in benefit obligation for postretirement medical benefit plans recognized in other comprehensive income were as follows:
20232022
Net actuarial gain$(206)$(31,512)
Amortization of net actuarial loss2,249 (68)
Total recognized in other comprehensive income$2,043 $(31,580)
Summary of Costs (Income) of Retirement Plans
The components of net periodic benefit (income) cost for defined benefit pension plans were as follows:
United StatesForeign
202320222021202320222021
Service cost$44 $55 $102 $766 $1,214 $1,528 
Interest cost63,533 44,348 42,434 21,238 13,568 11,811 
Expected return on plan assets(86,008)(71,080)(77,119)(29,899)(26,770)(31,869)
Amortization of prior service (credit) cost(20)(44)(60)286 252 268 
Amortization of net actuarial loss17,362 33,164 38,233 2,068 6,767 9,350 
Settlements 771 394 551 (25)— — 
Net periodic benefit (income) cost
$(4,318)$6,837 $4,141 $(5,566)$(4,969)$(8,912)
The components of net periodic benefit cost for postretirement medical benefit plans were as follows:
202320222021
Service cost$367 $731 $909 
Interest cost5,031 3,679 3,755 
Amortization of prior service cost — — 129 
Amortization of net actuarial loss(2,249)68 4,090 
Net periodic benefit cost$3,149 $4,478 $8,883 
Summary of Weighted Average Assumptions Used to Determine Net Periodic Benefit Costs
Weighted-average actuarial assumptions used to determine year end benefit obligations and net periodic benefit cost for defined benefit pension plans include:
202320222021
United States
Used to determine benefit obligations
     Discount rate5.15%5.55%2.85%
     Rate of compensation increaseN/AN/AN/A
Used to determine net periodic benefit cost
     Discount rate5.55%2.85%2.54%
     Expected return on plan assets6.50%5.10%5.60%
     Rate of compensation increaseN/AN/AN/A
Foreign
Used to determine benefit obligations
     Discount rate1.95 %-4.60%1.95 %-5.10%0.85 %-2.85%
     Rate of compensation increase2.00 %-3.50%2.00 %-3.00%1.50 %-3.65%
Used to determine net periodic benefit cost
     Discount rate1.95 %-5.10%0.85 %-2.85%0.70 %-2.40%
     Expected return on plan assets2.75 %-5.26%3.75 %-5.75%3.50 %-5.75%
     Rate of compensation increase2.00 %-3.60%1.50 %-2.50%1.50 %-2.50%
The weighted-average discount rates used to determine end of year benefit obligation and net periodic pension cost include:
202320222021
Discount rate used to determine benefit obligation
U.S.5.20 %5.60 %2.80 %
Canada4.60 %5.15 %2.90 %
Discount rate used to determine net period benefit cost
U.S.5.60 %2.80 %2.35 %
Canada5.15 %2.90 %2.50 %
Summary of Target Allocation and Percentage of Plan Assets for Domestic Pension Plan Target and actual asset allocations for the U.S. pension plans were as follows:
Target allocationPercent of Plan Assets at December 31,
202420232022
Asset category
Equities16 %15 %15 %
Multi-asset credit2 %2 %2 %
Fixed income76 %76 %74 %
Real estate5 %6 %8 %
Private equity1 %1 %1 %
Total100 %100 %100 %
Summary of Target Allocation and Percentage of Plan Assets for Foreign Pension Plan Target and actual asset allocations for the U.K. Plan, which comprises 74% of the total foreign pension plan assets, were as follows:
Target AllocationPercent of Plan Assets at December 31,
202420232022
Asset category
Global equities10 %8 %8 %
Fixed income70 %69 %70 %
Multi-asset credit
10 %8 %— %
Real estate10 %13 %13 %
Diversified growth— %— %8 %
Cash— %2 %1 %
Total100 %100 %100 %
Summary of Fair Value Measurement of Plan Assets
The following tables show the U.S. and foreign pension plans' assets, by level within the fair value hierarchy. The plan asset categories presented in the following tables are subsets of the broader asset allocation categories.

United States Pension Plans
December 31, 2023
Level 1Level 2Level 3Total
Money market funds$— $13,842 $— $13,842 
Equity securities— 102,795 — 102,795 
Commingled fixed income securities— 220,041 — 220,041 
Government and related securities
170,540 28,518 — 199,058 
Corporate debt securities— 545,615 — 545,615 
Mortgage-backed /asset-backed securities— 49,300 — 49,300 
Real estate— — 67,256 67,256 
Securities lending collateral— 104,630 — 104,630 
Total plan assets at fair value $170,540 $1,064,741 $67,256 $1,302,537 
Securities lending payable(104,630)
Investments valued at NAV5,615 
Cash1,240 
Other(51,272)
Fair value of plan assets $1,153,490 


December 31, 2022
Level 1Level 2Level 3Total
Money market funds$— $10,623 $— $10,623 
Equity securities— 137,505 — 137,505 
Commingled fixed income securities— 220,281 — 220,281 
Government and related securities
114,084 21,479 — 135,563 
Corporate debt securities— 527,407 — 527,407 
Mortgage-backed /asset-backed securities— 26,450 — 26,450 
Real estate— — 91,500 91,500 
Securities lending collateral— 113,802 — 113,802 
Total plan assets at fair value $114,084 $1,057,547 $91,500 $1,263,131 
Securities lending payable(113,802)
Investments valued at NAV10,416 
Cash3,525 
Other(1,909)
Fair value of plan assets $1,161,361 
Foreign Plans
December 31, 2023
Level 1Level 2Level 3Total
Money market funds$— $5,997 $— $5,997 
Equity securities— 44,088 — 44,088 
Commingled fixed income securities— 295,105 — 295,105 
Government and related securities
— 38,028 — 38,028 
Corporate debt securities— 28,389 — 28,389 
Real estate— 4,869 43,205 48,074 
Diversified growth funds— — — — 
Total plan assets at fair value $— $416,476 $43,205 $459,681 
Cash6,501 
Other505 
Fair value of plan assets $466,687 

December 31, 2022
Level 1Level 2Level 3Total
Money market funds$— $8,338 $— $8,338 
Equity securities— 42,717 — 42,717 
Commingled fixed income securities— 247,337 — 247,337 
Government and related securities
— 35,887 — 35,887 
Corporate debt securities— 26,336 — 26,336 
Real estate— 4,446 42,980 47,426 
Diversified growth funds— — 24,394 24,394 
Total plan assets at fair value $— $365,061 $67,374 $432,435 
Cash 5,485 
Other483 
Fair value of plan assets$438,403 
Summary of Changes in Fair Value of Level 3 Assets Domestic
The following table summarizes the changes in the fair value of Level 3 assets:
U.S. PlansForeign Plans
Real estateReal estateDiversified Growth Funds
Balance at December 31, 2021
$77,494 $52,491 $52,169 
Realized gains1,058 — — 
Unrealized gains (losses)
12,666 (6,741)(5,933)
Net purchases, sales and settlements282 1,729 (16,474)
Foreign currency and other— (4,499)(5,368)
Balance at December 31, 2022
91,500 42,980 24,394 
Realized gains
4,505 — — 
Unrealized losses
(18,386)(3,951)(3,133)
Net purchases, sales and settlements(10,363)2,014 (22,396)
Foreign currency and other— 2,162 1,135 
Balance at December 31, 2023
$67,256 $43,205 $— 
Summary of Change in Benefit Obligation, Plan Assets and the Funded Status of Nonpension Benefit Plans The benefit obligation and funded status for postretirement medical benefit plans are as follows:
20232022
Benefit obligation
Benefit obligation - beginning of year$99,275 $139,516 
Service cost367 731 
Interest cost5,031 3,679 
Net actuarial gain(206)(31,512)
Foreign currency changes214 (740)
Benefits paid, net(11,194)(12,399)
Benefit obligation - end of year (1)
$93,487 $99,275 
Fair value of plan assets
Fair value of plan assets - beginning of year$— $— 
Company contribution11,194 12,399 
Benefits paid, net(11,194)(12,399)
Fair value of plan assets - end of year$— $— 
Amounts recognized in the Consolidated Balance Sheets
Current liability$(10,265)$(11,530)
Noncurrent liability
(83,222)(87,745)
Funded status$(93,487)$(99,275)
(1)    Includes a benefit obligation for the U.S. postretirement plan of $84 million and $90 million at December 31, 2023 and 2022, respectively.

Pretax amounts recognized in AOCL consist of:
20232022
Net actuarial gain
$(14,360)$(16,405)
Summary of Expected Benefit Payments
The following benefit payments, which reflect expected future service, are expected to be paid.
Pension BenefitsPostretirement Medical Benefits
2024$123,016 $10,514 
2025123,566 10,065 
2026121,323 9,626 
2027120,468 9,130 
2028120,025 8,654 
Thereafter576,290 36,181 
$1,184,688 $84,170