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Postretirement benefits (Tables)
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Schedule of Net Funded Status [Table Text Block]
Obligations and funded status
The funded status of the pension and other postretirement benefit plans as well as the amounts recognized in the Consolidated balance sheets and Accumulated other comprehensive income (loss) at December 31, 2023 and 2022 was as follows:
Pension Benefit PlansOther Postretirement
Benefit Plans
2023202220232022
U.S. PlansNon-U.S. PlansU.S. PlansNon-U.S. Plans
(in millions of U.S. dollars)
Benefit obligation, beginning of year$2,781 $697 $3,732 $1,122 $43 $62 
   Service cost— 7 — 4 — 1 
   Interest cost138 36 85 23 2 1 
   Actuarial loss (gain)82 29 (890)(391)2 (4)
   Benefits paid(168)(38)(146)(28)(12)(16)
   Curtailments— — — — — — 
   Settlements— (5)— — — — 
   Foreign currency revaluation and other — 17 — (33)1 (1)
Benefit obligation, end of year$2,833 $743 $2,781 $697 $36 $43 
Plan assets at fair value, beginning of year$3,316 $938 $4,151 $1,318 $81 $119 
   Actual return on plan assets417 57 (692)(285)4 (2)
   Employer contributions24 15 3 8 1 1 
   Benefits paid(168)(38)(146)(28)(17)(37)
   Settlements— (8)— — — — 
   Foreign currency revaluation and other— 22 — (75)— — 
Plan assets at fair value, end of year$3,589 $986 $3,316 $938 $69 $81 
Funded status at end of year$756 $243 $535 $241 $33 $38 
Amounts recognized in the Consolidated balance sheets:
Assets$801 $300 $601 $290 $54 $56 
Liabilities(45)(57)(66)(49)(21)(18)
Total$756 $243 $535 $241 $33 $38 
Amounts recognized in Accumulated other comprehensive
income (loss), pre-tax, not yet recognized in net periodic cost (benefit):
Net actuarial loss (gain)$(404)$29 $(290)$7 $(10)$(12)
Prior service cost (benefit)— 8 — 8 (4)(4)
Total$(404)$37 $(290)$15 $(14)$(16)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
The funded status of the pension and other postretirement benefit plans as well as the amounts recognized in the Consolidated balance sheets and Accumulated other comprehensive income (loss) at December 31, 2023 and 2022 was as follows:
Pension Benefit PlansOther Postretirement
Benefit Plans
2023202220232022
U.S. PlansNon-U.S. PlansU.S. PlansNon-U.S. Plans
(in millions of U.S. dollars)
Benefit obligation, beginning of year$2,781 $697 $3,732 $1,122 $43 $62 
   Service cost— 7 — 4 — 1 
   Interest cost138 36 85 23 2 1 
   Actuarial loss (gain)82 29 (890)(391)2 (4)
   Benefits paid(168)(38)(146)(28)(12)(16)
   Curtailments— — — — — — 
   Settlements— (5)— — — — 
   Foreign currency revaluation and other — 17 — (33)1 (1)
Benefit obligation, end of year$2,833 $743 $2,781 $697 $36 $43 
Plan assets at fair value, beginning of year$3,316 $938 $4,151 $1,318 $81 $119 
   Actual return on plan assets417 57 (692)(285)4 (2)
   Employer contributions24 15 3 8 1 1 
   Benefits paid(168)(38)(146)(28)(17)(37)
   Settlements— (8)— — — — 
   Foreign currency revaluation and other— 22 — (75)— — 
Plan assets at fair value, end of year$3,589 $986 $3,316 $938 $69 $81 
Funded status at end of year$756 $243 $535 $241 $33 $38 
Amounts recognized in the Consolidated balance sheets:
Assets$801 $300 $601 $290 $54 $56 
Liabilities(45)(57)(66)(49)(21)(18)
Total$756 $243 $535 $241 $33 $38 
Amounts recognized in Accumulated other comprehensive
income (loss), pre-tax, not yet recognized in net periodic cost (benefit):
Net actuarial loss (gain)$(404)$29 $(290)$7 $(10)$(12)
Prior service cost (benefit)— 8 — 8 (4)(4)
Total$(404)$37 $(290)$15 $(14)$(16)
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block]
The following table provides information on pension plans where the benefit obligation is in excess of plan assets at December 31, 2023 and 2022:
20232022
U.S. PlansNon-U.S. PlansU.S. PlansNon-U.S. Plans
(in millions of U.S. dollars)
Plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation$45 $101 $66 $87 
Fair value of plan assets— 44 — 38 
Net funded status$(45)$(57)$(66)$(49)
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation$45 $73 $66 $61 
Fair value of plan assets$— $40 $— $30 
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]
The following table provides information on pension plans where the benefit obligation is in excess of plan assets at December 31, 2023 and 2022:
20232022
U.S. PlansNon-U.S. PlansU.S. PlansNon-U.S. Plans
(in millions of U.S. dollars)
Plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation$45 $101 $66 $87 
Fair value of plan assets— 44 — 38 
Net funded status$(45)$(57)$(66)$(49)
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation$45 $73 $66 $61 
Fair value of plan assets$— $40 $— $30 
Defined Benefit Plan, Assumptions [Table Text Block]
The weighted-average assumptions used to determine the projected benefit obligation were as follows:
Pension Benefit Plans
U.S.
Plans		Non-U.S.
Plans		Other Postretirement Benefit Plans
December 31, 2023
Discount rate4.98 %5.03 %6.01 %
Rate of compensation increase (1)
N/A3.73 %N/A
Interest crediting rate4.55 %
December 31, 2022
Discount rate5.22 %5.27 %5.83 %
Rate of compensation increase (1)
N/A3.98 %N/A
Interest crediting rate4.32 %
(1) For the U.S. Pension Plans, benefit accruals were frozen as of December 31, 2019.
 [1]
Schedule of Net Benefit Costs [Table Text Block]
The components of net pension and other postretirement benefit costs (benefits) reflected in Net income and other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) were as follows:
Pension Benefit PlansOther Postretirement
Benefit Plans
U.S. PlansNon-U.S. Plans
Year Ended December 31202320222021202320222021202320222021
(in millions of U.S. dollars)
Costs reflected in Net income, pre-tax:
Service cost$— $— $— $7 $4 $4 $— $1 $1 
Non-service cost (benefit):
Interest cost138 85 70 36 23 19 2 1 1 
Expected return on plan assets(225)(283)(255)(51)(43)(44)(3)(1)(1)
Amortization of net actuarial (gain) loss
— — — — — 4 (1)— — 
Amortization of prior service cost (benefit)
— — — 1 — — — — (26)
Curtailments— — — — — — — — — 
Settlements3 — 3 4 — — — — — 
Total non-service cost (benefit)(84)(198)(182)(10)(20)(21)(2)— (26)
Net periodic benefit cost (benefit)$(84)$(198)$(182)$(3)$(16)$(17)$(2)$1 $(25)
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss)
Net actuarial loss (gain)$(111)$85 $(450)$22 $(67)$(86)$2 $(1)$(5)
Prior service cost (benefit)— — — — — — — — — 
Amortization of net actuarial gain (loss)
— — — — — (4)1 — — 
Amortization of prior service benefit
— — — — — — — — 26 
Curtailments— — — — — — — — — 
Settlements(3)— (3)(1)— — — — — 
Total decrease (increase) in other comprehensive income (loss), pre-tax$(114)$85 $(453)$21 $(67)$(90)$3 $(1)$21 
The line items in which the service cost and non-service cost (benefit) components of net periodic benefit cost (benefit) are included in the Consolidated statements of operations were as follows:
Pension Benefit PlansOther Postretirement Benefit Plans
Year Ended December 31202320222021202320222021
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses$— $— $— $— $— $— 
Administrative expenses7 4 4 — 1 1 
Total service cost7 4 4 — 1 1 
Non-service cost (benefit):
Losses and loss expenses(9)(20)(18)— — (3)
Administrative expenses(85)(198)(185)(2)— (23)
Total non-service cost (benefit)(94)(218)(203)(2)— (26)
Net periodic benefit cost (benefit)$(87)$(214)$(199)$(2)$1 $(25)
Schedule of assumptions used, net periodic benefit costs [Table Text Block]
The weighted-average assumptions used to determine the net periodic pension and other postretirement benefit costs were as follows:
Pension Benefit Plans
U.S. PlansNon-U.S. PlansOther Postretirement Benefit Plans
Year Ended December 31
2023
Discount rate in effect for determining service costN/A6.57 %5.67 %
Discount rate in effect for determining interest cost5.13 %5.28 %5.84 %
Rate of compensation increaseN/A3.98 %N/A
Expected long-term rate of return on plan assets7.00 %5.42 %4.00 %
Interest crediting rate4.32 %N/AN/A
2022
Discount rate in effect for determining service costN/A7.23 %3.22 %
Discount rate in effect for determining interest cost2.34 %2.13 %1.89 %
Rate of compensation increaseN/A3.63 %N/A
Expected long-term rate of return on plan assets7.00 %3.44 %1.00 %
Interest crediting rate4.10 %N/AN/A
2021
Discount rate in effect for determining service costN/A5.58 %2.53 %
Discount rate in effect for determining interest cost1.81 %1.57 %1.23 %
Rate of compensation increaseN/A3.24 %N/A
Expected long-term rate of return on plan assets7.00 %3.37 %1.00 %
Interest crediting rate4.10 %N/AN/A
Schedule of Health Care Cost Trend Rates [Table Text Block]
The weighted-average healthcare cost trend rate assumptions used to measure the expected cost of healthcare benefits were as follows:
U.S. PlansNon-U.S. Plans
202320222021202320222021
Healthcare cost trend rate5.57 %5.72 %5.59 %5.08 %5.28 %5.26 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)4.00 %4.00 %4.50 %4.08 %4.04 %4.00 %
Year that the rate reaches the ultimate trend rate204620462038204020402040
Schedule of Allocation of Plan Assets [Table Text Block]
The following tables present the fair values of the pension plan assets, by valuation hierarchy. For additional information on how we classify these assets within the valuation hierarchy, refer to Note 4 to the Consolidated Financial Statements.
December 31, 2023Pension Benefit Plans
(in millions of U.S. dollars)Level 1Level 2Level 3Total
U.S. Plans:
Short-term investments$45 $— $— $45 
U.S. Treasury / Agency470 86 — 556 
Non-U.S. and corporate bonds— 637 — 637 
Municipal— 6 — 6 
Equity securities1,466 — — 1,466 
Investment derivative instruments5 — — 5 
Total U.S. Plan assets (1)
$1,986 $729 $— $2,715 
Non-U.S. Plans:
Short-term investments$7 $— $— $7 
Non-U.S. and corporate bonds— 457 — 457 
Equity securities63 211 4 278 
Total Non-U.S. Plan assets (1)
$70 $668 $4 $742 
(1)Excluded from the table above are $634 million and $227 million of other investments related to the U.S. Plans and Non-U.S. Plans, respectively, private equities of $224 million and $17 million in U.S. Plans and Non-U.S. Plans, respectively, measured using NAV as a practical expedient, and $16 million in cash and accrued income related to the U.S. Plans.
December 31, 2022Pension Benefit Plans
(in millions of U.S. dollars)Level 1Level 2Level 3Total
U.S. Plans:
Short-term investments$42 $— $— $42 
U.S. Treasury / Agency431 110 — 541 
Non-U.S. and corporate bonds— 627 — 627 
Municipal— 5 — 5 
Equity securities1,321 — — 1,321 
Investment derivative instruments4 — — 4 
Total U.S. Plan assets (1)
$1,798 $742 $— $2,540 
Non-U.S. Plans:
Short-term investments$10 $— $— $10 
Non-U.S. and corporate bonds— 454 — 454 
Equity securities107 146 4 257 
Total Non-U.S. Plan assets (1)
$117 $600 $4 $721 
(1)Excluded from the table above are $538 million and $201 million of other investments related to the U.S. Plans and Non-U.S. Plans, respectively, private equities of $233 million and $16 million in U.S. Plans and Non-U.S. Plans, respectively, measured using NAV as a practical expedient, and $5 million in cash and accrued income related to the U.S. Plans.
Schedule of expected future benefit payments
At December 31, 2023, our estimated expected future benefit payments are as follows:
Pension Benefit PlansOther Postretirement Benefit Plans
For the years ending December 31U.S.
Plans		Non-U.S. Plans
(in millions of U.S. dollars)
2024$175 $38 $11 
2025181 36 6 
2026185 35 1 
2027188 37 1 
2028191 39 1 
2029-2033976 233 6 
[1] (1) For the U.S. Pension Plans, benefit accruals were frozen as of December 31, 2019