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Employee Benefit and Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Reconciliation of Benefit Obligations
The following provides a reconciliation of benefit obligations, plan assets and funded status of the Company’s noncontributory defined benefit pension plans, including the SERP, at December 31, (dollars in millions):
Pension BenefitsPostretirement Benefits
United StatesInternational
Change in benefit obligation:202320222023202220232022
Benefit obligation at beginning of year$936 $1,238 $417 $623 $30 $41 
Service cost— — 3 4 — — 
Interest cost44 25 15 8 1 1 
Actuarial gain(24)(247)(13)(137)(2)(8)
Currency translation— — 14 (56)— — 
Benefits paid(79)(80)(20)(23)(3)(4)
Curtailments, settlements and other(164)— (172)(2)— — 
Benefit obligation at end of year (1)
$713 $936 $244 $417 $26 $30 
Change in plan assets:
Fair value of plan assets at beginning of year843 1,133 354 595 — — 
Actual return on plan assets57 (220)(10)(166)— — 
Contributions11 10 12 7 3 4 
Currency translation— — 13 (57)— — 
Benefits paid(79)(80)(20)(23)(3)(4)
Settlements and other(164)— (173)(2)— — 
Fair value of plan assets at end of year$668 $843 $176 $354 $— $— 
Funded status at end of year$(45)$(93)$(68)$(63)$(26)$(30)
Amounts recognized in the Consolidated Balance Sheets:
Prepaid benefit cost, included in other assets$50 $7 $23 $23 $— $— 
Accrued current benefit cost—other accrued liabilities(11)(11)(4)(4)(4)(4)
Accrued noncurrent benefit cost— other noncurrent liabilities(84)(89)(87)(82)(22)(26)
Net amount recognized$(45)$(93)$(68)$(63)$(26)$(30)
Assumptions:
Weighted-average assumptions used to determine benefit obligation:
Discount rate4.94 %5.20 %3.82 %4.07 %4.84 %5.11 %
Long-term rate of compensation increase3.00 %3.00 %2.37 %2.41 %— %— %
Current health care cost trend rates— %— %— %— %5.87 %6.65 %
Ultimate health care cost trend rates— %— %— %— %4.50 %4.50 %
(1)The accumulated benefit obligation for all defined benefit pension plans was $1.0 billion and $1.4 billion at December 31, 2023 and 2022, respectively.
Schedule Of Company's Pension Cost And Supplemental Retirement Plans
The components of pension and postretirement benefit expense for the periods indicated are as follows (dollars in millions):
Pension Benefits
United StatesInternational
202320222021202320222021
Service cost$— $— $— $3 $4 $4 
Interest cost44 25 20 15 8 6 
Expected return on plan assets(52)(47)(51)(11)(6)(3)
Amortization:
Prior service cost — — — 3 1 1 
Net actuarial loss3 16 22 3 2 3 
Curtailment, settlement and termination costs60 — — 66 — — 
Total (income) expense $55 $(6)$(9)$79 $9 $11 
Assumptions
Weighted average assumption used to calculate net periodic cost:
Effective discount rate for benefit obligations5.34 %2.64 %2.16 %4.07 %1.61 %1.22 %
Effective rate for interest on benefit obligations5.23 %2.13 %1.54 %4.00 %1.46 %0.92 %
Effective rate for service cost— %2.94 %2.63 %3.20 %0.96 %0.71 %
Effective rate for interest on service cost— %2.97 %2.61 %3.06 %0.78 %0.54 %
Long-term rate of return on plan assets5.88 %4.75 %5.25 %3.61 %1.06 %0.51 %
Long-term rate of compensation increase3.00 %3.00 %3.00 %2.41 %2.27 %2.18 %
Postretirement Benefits
202320222021
Interest cost$1 $1 $1 
Amortization:
Net actuarial gain(6)(5)(3)
Total income$(5)$(4)$(2)
Assumptions
Weighted average assumption used to calculate net periodic cost:
Effective discount rate for benefit obligations5.11 %2.34 %1.80 %
Effective rate for interest on benefit obligations5.04 %1.77 %1.18 %
Effective rate for service cost4.97 %1.98 %1.32 %
Effective rate for interest on service cost4.90 %1.67 %1.02 %
Schedule of Expected Benefit Payments
Estimated future benefit payments under the Company’s defined benefit pension plans and postretirement benefit plans are as follows at December 31, 2023 (in millions):
20242025202620272028Thereafter
Pension benefits$79 $76 $75 $77 $75 $357 
Postretirement benefits4 4 4 3 3 9 
Pension Benefits  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
Summary of under-funded or non-funded pension benefit plans with projected benefit obligations in excess of plan assets at December 31, (in millions):
Pension Benefits
20232022
Projected benefit obligation$315 $311 
Fair value of plan assets129 125 
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
Summary of pension plans with accumulated obligations in excess of plan assets at December 31, (in millions):
Pension Benefits
20232022
Accumulated benefit obligation$309 $303 
Fair value of plan assets129 123 
Schedule of Allocation of Plan Assets
The composition of domestic pension plan assets at December 31, 2023 and 2022 is as follows (in millions):
Plan Assets — Domestic Plans
December 31, 2023
Fair Value Measurements
Asset CategoryLevel 1Level 2Level 3SubtotalNAV-based assetsTotal
Equity securities and funds$— $— $— $— $70 $70 
Fixed income securities and funds250 — — 250 329 579 
Alternative investments— — — — 2 2 
Cash and other15 2 — 17 — 17 
Total$265 $2 $— $267 $401 $668 
Plan Assets — Domestic Plans
December 31, 2022
Fair Value Measurements
Asset CategoryLevel 1Level 2Level 3SubtotalNAV-based assetsTotal
Equity securities and funds$— $— $— $— $158 $158 
Fixed income securities and funds369 — — 369 303 672 
Alternative investments— — — — 2 2 
Cash and other8 3 — 11 — 11 
Total$377 $3 $— $380 $463 $843 
The composition of international pension plan assets at December 31, 2023 and 2022 is as follows (in millions):

Plan Assets — International Plans
December 31, 2023
Fair Value Measurements
Asset CategoryLevel 1Level 2Level 3SubtotalNAV-based assetsTotal
Equity securities and funds$3 $4 $— $7 $— $7 
Fixed income securities and funds4 6 — 10 — 10 
Cash and other4 145 10 159 — 159 
Total$11 $155 $10 $176 $— $176 
Plan Assets — International Plans
December 31, 2022
Fair Value Measurements
Asset CategoryLevel 1Level 2Level 3SubtotalNAV-based assetsTotal
Equity securities and funds$3 $3 $— $6 $— $6 
Fixed income securities and funds6 5 — 11 — 11 
Cash and other3 140 194 337 — 337 
Total$12 $148 $194 $354 $— $354 
Postretirement Benefits  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
A reconciliation of the change in fair value of the defined benefit plans’ assets using significant unobservable inputs (Level 3) for 2023 and 2022 is as follows (in millions):
Total
Balance at December 31, 2021$9 
Unrealized losses(101)
Purchases, sales, settlements and other, net286 
Balance at December 31, 2022194 
Purchases, sales, settlements and other, net(184)
Balance at December 31, 2023$10