Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Expected Benefits Payments

PENSION BENEFITS EXPECTED PAYMENTS (dollars in millions)	U.S.		Non-U.S.
2024	$	14	$	17
2025		17		12
2026		20		12
2027		19		14
2028		21		14
Years 2029-2033		91		84

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)	2023			2022			2023			2022
Benefit obligation at beginning of year	$	227		$	381		$	192		$	260
Service cost		—			—			9			9
Interest cost		12			12			10			6
Actuarial (gain) loss due to:
Change in discount rate		5			(111	)		(22	)		(65	)
Experience		2			15			(1	)		4
Other assumption changes		2			—			24			18
Benefits paid		(4	)		(4	)		(10	)		(20	)
Plan settlements/curtailments		(17	)		(66	)		(2	)		(3	)
Plan amendments		—			—			1			2
Other		—			—			0			—
Translation difference		—			—			7			(19	)
Benefit obligation at end of year	$	226		$	227		$	208		$	192
Fair value of plan assets at beginning of year	$	201		$	343		$	63		$	101
Actual return on plan assets		24			(75	)		3			(27	)
Company contributions		0			3			11			19
Benefits paid		(4	)		(4	)		(10	)		(20	)
Plan settlements		(17	)		(66	)		(0	)		—
Translation difference		—			—			3			(10	)
Fair value of plan assets at end of year	$	204		$	201		$	70		$	63
Pension liability recognized in the balance sheet	$	21		$	26		$	138		$	129

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)	2023			2022			2021
Service cost	$	—		$	—		$	8
Interest cost		12			12			10
Expected return on plan assets		(10	)		(14	)		(18	)
Amortization of actuarial loss		0			0			2
Settlement loss		1			6			5
Net periodic benefit cost	$	3		$	4		$	7

	Non-U.S.
(Dollars in millions)	2023			2022			2021
Service cost	$	9		$	9		$	12
Interest cost		10			6			5
Expected return on plan assets		(3	)		(2	)		(2	)
Amortization of prior service costs		1			1			0
Amortization of actuarial loss		1			1			1
Settlement/curtailment (gain) loss		0			(8	)		0
Net periodic benefit cost	$	18		$	7		$	17

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)	2023		2022		2023		2022
Net actuarial loss	$	15	$	22	$	19	$	18
Prior service cost		—		—		4		4
Total accumulated other comprehensive loss    recognized in the balance sheet	$	15	$	22	$	24	$	22

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)	2023			2022			2023			2022
Total retirement benefit recognized in accumulated    other comprehensive loss at beginning of year	$	22		$	35		$	22		$	33
Net actuarial loss (gain)		(6	)		(7	)		2			(15	)
Amortization or curtailment recognition of prior service credit (cost)		—			—			(1	)		1
Amortization or settlement recognition of net gain (loss)		(1	)		(6	)		(1	)		5
Translation difference		—			—			2			(2	)
Total retirement benefit recognized in accumulated    other comprehensive loss at end of year	$	15		$	22		$	24		$	22

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)	2023		2022		2023		2022
Projected Benefit Obligation (PBO)	$	226	$	227	$	145	$	134
Accumulated Benefit Obligation (ABO)		226		227		116		102
Fair value of plan assets		204		201		2		2

Schedule of Assumptions Used

ASSUMPTIONS USED TO DETERMINE THE BENEFIT OBLIGATIONS AS OF DECEMBER 31

	U.S.				Non-U.S.1)
(% Weighted average / % Weighted average range)	2023		2022		2023	2022
Discount rate		5.13		5.41	1.00-10.25	0.75-9.75
Rate of increases in compensation level	n/a		n/a		2.25-5.00	2.10-5.00

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

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

	U.S.
(% Weighted average)	2023		2022		2021
Discount rate		5.41		2.77		2.37
Rate of increases in compensation level	n/a		n/a			2.65
Expected long-term rate of return on assets		5.05		5.05		5.05

	Non-U.S.1)
(% Weighted average range)	2023	2022	2021
Discount rate	0.75-9.75	0.25-8.00	0.25-7.25
Rate of increases in compensation level	2.10-5.00	1.80-5.00	1.80-5.00
Expected long-term rate of return on assets	4.20-4.80	1.70-2.20	1.40-2.25

1) The % weighted average ranges in the tables above represent significant non-U.S. 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		2023		2022		2023		2022
Equity securities %		32		31		23		0		0
Debt instruments %		68		68		76		64		60
Other assets %		—		1		1		36		40
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)	2023		2022
Assets
Non-U.S. Bonds
Government	$	24	$	15
Corporate		21		23
Insurance Contracts		17		14
Other Investments		10		11
Assets at fair value Level 2		71		63
Investments measured at net asset value    (NAV):
Common collective trusts		203		201
Total	$	274	$	264