Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2021

Pension Plans, Defined Benefit

Schedule of Changes in Benefit Obligations and Plan Assets

CHANGES IN BENEFIT OBLIGATIONS AND PLAN ASSETS FOR THE YEARS ENDED DECEMBER 31

	U.S.						Non-U.S.
(Dollars in millions)	2021			2020			2021			2020
Benefit obligation at beginning of year	$	426		$	400		$	279		$	253
Service cost		8			8			12			12
Interest cost		10			12			5			6
Actuarial (gain) loss due to:
Change in discount rate		(17	)		46			(22	)		13
Experience		3			(5	)		9			0
Other assumption changes		3			3			4			(11	)
Benefits paid		(4	)		(4	)		(8	)		(9	)
Plan settlements		(48	)		(34	)		(2	)		(0	)
Other		—			—			(0	)		2
Translation difference		—			—			(16	)		15
Benefit obligation at end of year	$	381		$	426		$	260		$	279
Fair value of plan assets at beginning of year	$	355		$	324		$	103		$	89
Actual return on plan assets		25			53			1			9
Company contributions		15			17			11			10
Benefits paid		(4	)		(4	)		(8	)		(9	)
Plan settlements		(48	)		(34	)		(2	)		(0	)
Translation difference		—			—			(2	)		5
Fair value of plan assets at end of year	$	343		$	355		$	101		$	103
Pension liability recognized in the balance sheet	$	38		$	72		$	159		$	176

Schedule of Components of Net Periodic Benefit Cost

COMPONENTS OF NET PERIODIC BENEFIT COST ASSOCIATED WITH THE DEFINED BENEFIT RETIREMENT PLANS FOR THE YEARS ENDED DECEMBER 31

	U.S.
(Dollars in millions)	2021			2020			2019
Service cost	$	8		$	8		$	7
Interest cost		10			12			14
Expected return on plan assets		(18	)		(16	)		(14	)
Amortization of actuarial loss		2			3			2
Settlement loss		5			7			0
Net periodic benefit cost	$	7		$	13		$	10

	Non-U.S.
(Dollars in millions)	2021			2020			2019
Service cost	$	12		$	12		$	11
Interest cost		5			6			6
Expected return on plan assets		(2	)		(2	)		(2	)
Amortization of prior service costs		0			0			0
Amortization of actuarial loss		1			2			1
Settlement loss		0			0			1
Special termination benefits		—			0			1
Net periodic benefit cost	$	17		$	19		$	18

Schedule of Components of Accumulated Other Comprehensive Income Before Tax

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE LOSS BEFORE TAX AS OF DECEMBER 31

	U.S.				Non-U.S.
(Dollars in millions)	2021		2020		2021		2020
Net actuarial loss	$	35	$	62	$	30	$	42
Prior service cost		—		0		3		4
Total accumulated other comprehensive loss    recognized in the balance sheet	$	35	$	62	$	33	$	45

Schedule of Changes in Accumulated Other Comprehensive Income Before Tax

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS BEFORE TAX FOR THE YEARS ENDED DECEMBER 31

	U.S.						Non-U.S.
(Dollars in millions)	2021			2020			2021			2020
Total retirement benefit recognized in accumulated    other comprehensive loss at beginning of year	$	62		$	63		$	45		$	51
Net actuarial loss (gain)		(19	)		8			(8	)		(5	)
Amortization of prior service credit (cost)		—			0			(0	)		(0	)
Amortization of actuarial loss		(7	)		(10	)		(2	)		(2	)
Translation difference		—			—			(2	)		2
Total retirement benefit recognized in accumulated    other comprehensive loss at end of year	$	35		$	62		$	33		$	45

Schedule of Accumulated Benefit Obligations Exceeding Fair Value of Plan Assets

PENSION PLANS FOR WHICH ABO EXCEEDS THE FAIR VALUE OF PLAN ASSETS AS OF DECEMBER 31

	U.S.				Non-U.S.
(Dollars in millions)	2021		2020		2021		2020
Projected Benefit Obligation (PBO)	$	381	$	426	$	164	$	179
Accumulated Benefit Obligation (ABO)		381		419		132		143
Fair value of plan assets		343		355		4		4

Schedule of Assumptions Used

ASSUMPTIONS USED TO DETERMINE THE BENEFIT OBLIGATIONS AS OF DECEMBER 31

	U.S.				Non-U.S.1)
(% Weighted average)	2021		2020		2021	2020
Discount rate		2.77		2.37	0.25-3.20	0.25-2.70
Rate of increases in compensation level		2.65		2.65	1.80-4.00	1.80-4.00

ASSUMPTIONS USED TO DETERMINE THE NET PERIODIC BENEFIT COST FOR THE YEARS ENDED DECEMBER 31

	U.S.
(% Weighted average)	2021		2020		2019
Discount rate		2.37		3.25		4.35
Rate of increases in compensation level		2.65		2.65		2.65
Expected long-term rate of return on assets		5.05		5.05		5.05

	Non-U.S.1)
(% Weighted average)	2021	2020	2019
Discount rate	0.25-2.70	0.25-2.70	0.50-3.25
Rate of increases in compensation level	1.80-4.00	2.00-5.00	2.00-5.00
Expected long-term rate of return on assets	1.40-2.25	1.50-2.25	2.25-2.50

1) The Non-U.S. weighted average plan ranges in the tables above represent significant plans only.

Schedule of Fair Value of Total Plan Assets

FAIR VALUE OF TOTAL PLAN ASSETS FOR THE YEARS ENDED DECEMBER 31

	U.S.		U.S.				Non-U.S.
ASSETS CATEGORY (% Weighted average)	Target allocation		2021		2020		2021		2020
Equity securities %		40		42		42		0		0
Debt instruments %		60		57		57		76		77
Other assets %		—		1		1		24		23
Total %		100		100		100		100		100

Schedule of Fair Value of Company's Plan Assets

The following table summarizes the fair value of the Company’s U.S. and non-U.S. defined benefit pension plan assets:

	Fair value measurement at December 31,
(Dollars in millions)	2021		2020
Assets
Non-U.S. Bonds
Corporate	$	77	$	80
Insurance Contracts		16		18
Other Investments		8		10
Assets at fair value Level 2		101		107
Investments measured at net asset value    (NAV):
Common collective trusts		343		351
Total	$	445	$	457

Schedule of Expected Benefits Payments

PENSION BENEFITS EXPECTED PAYMENTS (dollars in millions)	U.S.		Non-U.S.
2022	$	20	$	10
2023		21		9
2024		23		10
2025		24		11
2026		27		11
Years 2027-2031		127		76

Postretirement Benefits Other Than Pensions

Schedule of Changes in Benefit Obligations and Plan Assets

CHANGES IN BENEFIT OBLIGATION FOR POSTRETIREMENT BENEFIT PLANS OTHER THAN PENSIONS AS OF DECEMBER 31

(Dollars in millions)	2021			2020
Benefit obligation at beginning of year	$	21		$	18
Service cost		0			0
Interest cost		1			1
Actuarial loss		(1	)		2
Benefits paid		(0	)		(0	)
Other		0			0
Benefit obligation at end of year	$	21		$	21

Schedule of Components of Net Periodic Benefit Cost

COMPONENTS OF NET PERIODIC BENEFIT COST ASSOCIATED WITH THE POST RETIREMENT BENEFIT PLANS OTHER THAN PENSIONS FOR THE YEARS ENDED DECEMBER 31

(Dollars in millions)	2021			2020			2019
Service cost	$	0		$	0		$	0
Interest cost		1			1			1
Amortization of prior service cost		(2	)		(2	)		(2	)
Amortization of actuarial loss		—			—			(0	)
Net periodic benefit (credit)	$	(1	)	$	(1	)	$	(2	)

Schedule of Components of Accumulated Other Comprehensive Income Before Tax

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME BEFORE TAX ASSOCIATED WITH POSTRETIREMENT BENEFIT PLANS OTHER THAN PENSIONS AS OF DECEMBER 31

	U.S.
(Dollars in millions)	2021			2020
Net actuarial (gain) loss	$	(1	)	$	0
Prior service (credit)		(2	)		(4	)
Total accumulated other comprehensive income    recognized in the balance sheet	$	(3	)	$	(4	)

Schedule of Expected Benefits Payments

The estimated future benefit payments for the postretirement benefits set forth below reflect expected future service as appropriate.

POSTRETIREMENT BENEFITS (Dollars in millions)	EXPECTED PAYMENTS
2022	$	1
2023		1
2024		1
2025		1
2026		1
Years 2027-2031		4