Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Net Funded Status

The following table reconciles the Company's funded status, both domestic and foreign, as of the periods indicated (in millions):

	2023				2022
	U.S.		Foreign		U.S.		Foreign
Change in projected benefit obligation:
Benefit obligation as of January 1	$	914	$	177	$	1,225	$	173
Service cost	8		4		14		4
Interest cost	47		21		28		17
Plan amendments	2		—		—		—
Plan settlements	—		(1)		—		—
Benefits paid	(115)		(15)		(65)		(13)
Divestitures	—		—		—		(1)
Actuarial loss (gain)	19		(2)		(288)		(11)
Effect of foreign currency exchange rate changes	—		6		—		8
Benefit obligation as of December 31	$	875	$	190	$	914	$	177
Change in plan assets:
Fair value of plan assets as of January 1	$	911	$	114	$	1,218	$	106
Actual return on plan assets	80		10		(250)		7
Employer contributions	8		9		8		5
Plan settlements	—		(1)		—		—
Benefits paid	(116)		(15)		(65)		(13)
Effect of foreign currency exchange rate changes	—		10		—		9
Fair value of plan assets as of December 31	$	883	$	127	$	911	$	114
Reconciliation of funded status:
Funded status as of December 31	$	8	$	(63)	$	(3)	$	(63)

Schedule of Amounts Recognized in Balance Sheet

The following table summarizes the amounts recognized on the Consolidated Balance Sheets related to the funded status of the DB Plans, both domestic and foreign, as of the periods indicated (in millions):

December 31,	2023				2022
Amounts Recognized on the Consolidated Balance Sheets	U.S.		Foreign		U.S.		Foreign
Noncurrent assets	$	41	$	10	$	34	$	7
Accrued benefit liability—current	—		(9)		—		(8)
Accrued benefit liability—noncurrent	(33)		(64)		(37)		(62)
Net amount recognized at end of year	$	8	$	(63)	$	(3)	$	(63)

Schedule of Accumulated and Projected Benefit Obligations

The following table summarizes the Company's U.S. and foreign accumulated benefit obligation as of the periods indicated (in millions):

December 31,	2023				2022
	U.S.		Foreign		U.S.		Foreign
Accumulated benefit obligation	$	860	$	182	$	900	$	170
Information for pension plans with an accumulated benefit obligation in excess of plan assets:
Projected benefit obligation	$	325	$	180	$	340	$	169
Accumulated benefit obligation	316		174		333		163
Fair value of plan assets	292		107		304		98
Information for pension plans with a projected benefit obligation in excess of plan assets:
Projected benefit obligation	$	325	$	180	$	340	$	169
Fair value of plan assets	292		107		304		98

Schedule of Assumptions Used

The following table summarizes the significant weighted average assumptions used in the calculation of benefit obligation and net periodic benefit cost, both domestic and foreign, as of the periods indicated:

December 31,		2023					2022
		U.S.		Foreign			U.S.		Foreign
Benefit Obligation:	Discount rate	5.17	%	11.14	%		5.41	%	13.23	%
	Rate of compensation increase	2.75	%	8.01	%		2.75	%	11.06	%
Periodic Benefit Cost:	Discount rate	5.41	%	13.23	%	(1)	2.82	%	10.45	%	(1)
	Expected long-term rate of return on plan assets	5.55	%	9.44	%		4.50	%	6.36	%
	Rate of compensation increase	2.75	%	11.06	%		2.75	%	7.76	%

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(1)Includes an inflation factor that is used to calculate future periodic benefit cost, but is not used to calculate the benefit obligation.

Impact Of One Percent Change In Assumptions

The impact on pension expense from a one percentage point change in these assumptions is shown in the following table (in millions):

Increase of 1% in the discount rate	$	(7)
Decrease of 1% in the discount rate	8
Increase of 1% in the long-term rate of return on plan assets	(11)
Decrease of 1% in the long-term rate of return on plan assets	11

Schedule of Net Benefit Costs

The following table summarizes the components of the net periodic benefit cost, both domestic and foreign, for the years indicated (in millions):

December 31,	2023				2022				2021
Components of Net Periodic Benefit Cost:	U.S.		Foreign		U.S.		Foreign		U.S.		Foreign
Service cost	$	8	$	4	$	14	$	4	$	14	$	6
Interest cost	47		21		28		17		24		15
Expected return on plan assets	(52)		(11)		(53)		(7)		(59)		(8)
Amortization of prior service cost	3		—		4		—		4		—
Amortization of net loss	7		—		8		1		15		3
Curtailment gain recognized	—		—		—		—		—		(17)
Total Net Periodic Benefit Cost	$	13	$	14	$	1	$	15	$	(2)	$	(1)

Schedule of Net Periodic Benefit Cost Not yet Recognized

The following table summarizes the amounts reflected in AOCL, including AOCL attributable to noncontrolling interests, on the Consolidated Balance Sheet as of December 31, 2023, that have not yet been recognized as components of net periodic benefit cost (in millions):

December 31, 2023	Accumulated Other Comprehensive Income (Loss)
	U.S.		Foreign
Prior service cost	$	(3)	$	1
Unrecognized net actuarial loss	(21)		(14)
Total	$	(24)	$	(13)

Target / Actual Allocation Of Pension Plan Asset

The following table summarizes the Company's target allocation for 2023 and pension plan asset allocation, both domestic and foreign, as of the periods indicated:

				Percentage of Plan Assets as of December 31,
		Target Allocations		2023				2022
Asset Category		U.S.	Foreign	U.S.		Foreign		U.S.		Foreign
Mutual Funds
	Equity securities	22%	6%	21.80	%	5.30	%	22.17	%	3.53	%
	Debt securities	78%	88%	77.60	%	89.30	%	77.28	%	92.14	%
Real estate		—%	1%	—	%	0.80	%	—	%	1.09	%
Other		—%	5%	0.60	%	4.60	%	0.55	%	3.24	%
Total pension assets				100.00	%	100.00	%	100.00	%	100.00	%

Schedule of Allocation of Plan Assets

The asset allocation is reviewed periodically to determine a suitable asset allocation which seeks to manage risk through portfolio diversification and takes into account the above-stated objectives, in conjunction with current funding levels, cash flow conditions, and economic and industry trends. The following table summarizes the Company's U.S. DB Plan assets by category of investment and level within the fair value hierarchy as of the periods indicated (in millions):

		December 31, 2023								December 31, 2022
U.S. Plans		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Mutual Funds	Equity securities: (1)	$	—	$	193	$	—	$	193	$	—	$	202	$	—	$	202
	Debt securities: (1)	—		685		—		685		—		704		—		704
Cash and cash equivalents		5		—		—		5		5		—		—		5
	Total plan assets	$	5	$	878	$	—	$	883	$	5	$	906	$	—	$	911

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(1)For the U.S. plans, the balances under the equity securities and debt securities categories represent investments through common collective trusts, for which the underlying investments are equity and debt securities.

Fair Value Of Plan Assets By Category / Level (Foreign)

The investment strategy of the foreign DB Plans seeks to maximize return on investment while minimizing risk. The assumed asset allocation has less exposure to equities in order to closely match market conditions and near term forecasts. The following table summarizes the Company's foreign DB plan assets by category of investment and level within the fair value hierarchy as of the periods indicated (in millions):

		December 31, 2023								December 31, 2022
Foreign Plans		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Equity Securities	Private equity	$	—	$	—	$	2	$	2	$	—	$	—	$	1	$	1
Mutual Funds	Equity securities: (1)	—		5		—		5		—		3		—		3
	Debt securities: (1)	40		73		—		113		35		70		—		105
Real estate	Real estate	—		—		1		1		—		—		1		1
Other	Other assets	1		3		2		6		1		2		1		4
	Total plan assets	$	41	$	81	$	5	$	127	$	36	$	75	$	3	$	114

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(1)Mutual funds categorized as debt securities and equity securities consist of mutual funds for which debt securities and equity securities are the primary underlying investment.

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

The following table summarizes the estimated cash flows for U.S. and foreign expected employer contributions and expected future benefit payments, both domestic and foreign (in millions):

	U.S.		Foreign
Expected employer contribution in 2024	$	8	$	11
Expected benefit payments for fiscal year ending:
2024	63		19
2025	63		17
2026	64		18
2027	64		20
2028	66		21
2029 - 2033	318		125

Scheduled Cash Flows For Employer Contributions And Expected Future Benefit Payments

The following table summarizes the estimated cash flows for U.S. and foreign expected employer contributions and expected future benefit payments, both domestic and foreign (in millions):

	U.S.		Foreign
Expected employer contribution in 2024	$	8	$	11
Expected benefit payments for fiscal year ending:
2024	63		19
2025	63		17
2026	64		18
2027	64		20
2028	66		21
2029 - 2033	318		125