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Benefit Obligations (Tables)
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Schedule of Contributions to Defined Contribution Plans
The amount of costs recognized for the Company's defined contribution plans are as follows:
Year Ended December 31,
202320222021
(In $ millions)
Defined contribution plans83 62 47 
Schedule of Company's Pension and Post Retirement Benefit Plans
Summarized information on the Company's pension and postretirement benefit plans is as follows:
Pension Benefits
As of December 31,		Postretirement Benefits
As of December 31,
2023202220232022
(In $ millions)
Change in Projected Benefit Obligation
Projected benefit obligation as of beginning of period2,858 3,488 38 51 
Service cost11 12 — 1 
Interest cost132 67 2 1 
Net actuarial (gain) loss(1)
144 (662)2 (10)
Acquisitions(2)
— 198 — — 
Divestiture(3)
(4)— — — 
Settlements(16)— — — 
Benefits paid(226)(220)(3)(3)
Exchange rate changes24 (25)1 (2)
Projected benefit obligation as of end of period2,923 2,858 40 38 
Change in Plan Assets
Fair value of plan assets as of beginning of period2,625 3,183 — — 
Actual return on plan assets213 (588)— — 
Employer contributions46 45 3 3 
Acquisitions(2)
— 211 — — 
Divestiture(3)
(2)— — — 
Settlements(16)— — — 
Benefits paid(4)
(226)(220)(3)(3)
Exchange rate changes12 (6)— — 
Fair value of plan assets as of end of period2,652 2,625 — — 
Funded status as of end of period(271)(233)(40)(38)
Amounts Recognized in the Consolidated Balance Sheets Consist of:
Noncurrent Other assets166 160 — — 
Current Other liabilities(22)(21)(3)(3)
Benefit obligations(415)(372)(37)(35)
Net amount recognized(271)(233)(40)(38)
Amounts Recognized in Accumulated Other Comprehensive Income Consist of:
Net actuarial (gain) loss(5)
24 13 — — 
Prior service (benefit) cost— — (1)(1)
Net amount recognized24 13 (1)(1)
______________________________
(1)Primarily relates to changes in discount rates.
(2)Represents plan obligations and assets related to the M&M Acquisition (Note 4).
(3)Represents plan obligations and assets contributed to the Nutrinova joint venture (Note 4).
(4)Includes benefit payments to nonqualified pension plans of $20 million and $20 million as of December 31, 2023 and 2022, respectively.
(5)Relates to the pension plans of the Company's equity method investments.
Schedule of Percentage of US and International Projected Benefit Obligation
The percentage of U.S. and international projected benefit obligation at the end of the period is as follows:
Pension Benefits
As of December 31,		Postretirement Benefits
As of December 31,
2023202220232022
(In percentages)
U.S. plans71 73 37 50 
International plans29 27 63 50 
Total100 100 100 100 
Schedule of Percentage of US and International Fair Value of Plan Assets
The percentage of U.S. and international fair value of plan assets at the end of the period is as follows:
Pension Benefits
As of December 31,
20232022
(In percentages)
U.S. plans75 77 
International plans25 23 
Total100 100 
Schedule of Pension Plans with Projected Benefit Obligations in Excess of Plan Assets
Pension plans with projected benefit obligations in excess of plan assets are as follows:
As of December 31,
20232022
(In $ millions)
Projected benefit obligation788 669 
Fair value of plan assets352 277 
Other postretirement plans with accumulated postretirement benefit obligations in excess of plan assets are as follows:
As of December 31,
20232022
(In $ millions)
Accumulated postretirement benefit obligation40 38 
Schedule of Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets
Pension plans with accumulated benefit obligations in excess of plan assets are as follows:
As of December 31,
20232022
(In $ millions)
Accumulated benefit obligation738 649 
Fair value of plan assets329 270 
Other postretirement plans with accumulated postretirement benefit obligations in excess of plan assets are as follows:
As of December 31,
20232022
(In $ millions)
Accumulated postretirement benefit obligation40 38 
Schedule of Accumulated Benefit Obligation for All Defined Benefit Pension Plans
The accumulated benefit obligation for all defined benefit pension plans is as follows:
As of December 31,
20232022
(In $ millions)
Accumulated benefit obligation2,882 2,837 
Schedule of Net Periodic Benefit Costs
The components of net periodic benefit cost are as follows:
Pension Benefits
Year Ended December 31,		Postretirement Benefits
Year Ended December 31,
202320222021202320222021
(In $ millions)
Service cost11 12 13 — 1 1 
Interest cost132 67 54 2 1 1 
Expected return on plan assets(132)(166)(205)— — — 
Recognized actuarial (gain) loss63 91 47 3 (10)(6)
Settlement (gain) loss1 — 3 — — — 
Total75 4 (88)5 (8)(4)
Schedule of Nonqualified Pension Plans Funded with Nonqualified Trusts
The Company maintains nonqualified pension plans funded with nonqualified trusts for certain U.S. employees as follows:
As of December 31,
20232022
(In $ millions)
Nonqualified Trust Assets
Marketable securities5 5 
Noncurrent Other assets, consisting of insurance contracts21 22 
Nonqualified Pension Obligations
Current Other liabilities18 18 
Benefit obligations149 152 
Schedule of Expense Related to Nonqualified Pension Plans Included in Net Periodic Benefit Cost, Excluding Returns on Assets
(Income) expense relating to the nonqualified pension plans included in net periodic benefit cost, excluding returns on the assets held by the nonqualified trusts, is as follows:
Year Ended December 31,
202320222021
(In $ millions)
Total16 (34)3 
Schedule of Principle Weighted Average Assumptions Used to Determine Benefit Obligations and Benefit Cost
The principal weighted average assumptions used to determine benefit obligation are as follows:
Pension Benefits
As of December 31,		Postretirement Benefits
As of December 31,
2023202220232022
(In percentages)
Discount Rate Obligations
U.S. plans5.1 5.5 5.1 5.4 
International plans3.1 3.4 4.1 4.7 
Combined4.5 4.9 4.5 5.1 
Rate of Compensation Increase
U.S. plansN/AN/A
International plans2.8 2.7 
Combined2.8 2.7 
The principal weighted average assumptions used to determine net periodic benefit cost are as follows:
Pension Benefits
Year Ended December 31,		Postretirement Benefits
Year Ended December 31,
202320222021202320222021
(In percentages)
Discount Rate Obligations
U.S. plans5.5 2.8 2.4 5.4 2.7 2.2 
International plans3.4 1.4 1.0 4.7 2.4 1.9 
Combined4.9 2.5 2.1 5.1 2.5 2.1 
Discount Rate Service Cost
U.S. plansN/AN/AN/A5.9 3.5 N/A
International plans3.5 1.5 1.1 4.4 2.1 1.9 
Combined3.5 1.5 1.1 4.5 2.1 1.9 
Discount Rate Interest Cost
U.S. plans5.4 2.2 1.7 5.3 2.0 1.5 
International plans3.4 1.2 0.7 4.7 2.1 1.5 
Combined4.8 2.0 1.4 5.0 2.1 1.5 
Expected Return on Plan Assets
U.S. plans5.5 5.5 6.5 
International plans4.4 4.9 4.8 
Combined5.2 5.4 6.3 
Rate of Compensation Increase
U.S. plansN/AN/AN/A
International plans2.8 2.5 2.5 
Combined2.8 2.5 2.5 
Interest Crediting Rate
U.S. plans4.3 1.9 1.4 
International plans1.0 1.0 1.0 
Combined4.3 1.9 1.4 
Schedule of Health Care Cost Trend Rates
The Company's health care cost trend assumptions for U.S. postretirement medical plan's net periodic benefit cost are as follows:
As of December 31,
202320222021
(In percentages, except year)
Health care cost trend rate assumed for next year7.3 7.5 7.3 
Health care cost trend ultimate rate5.0 5.0 5.0 
Health care cost trend ultimate rate year203220322031
Schedule of Weighted Average Target Asset Allocations
The weighted average target asset allocations for the Company's pension plans in 2023 are as follows:
U.S.
Plans		International
Plans
(In percentages)
Bonds - domestic to plans84 36 
Equities - domestic to plans8 21 
Equities - international to plans8 8 
Other— 35 
Total100 100 
Schedule of Fair Values of Pension Plan Assets
Fair Value Measurement
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Total
As of December 31,
202320222023202220232022
(In $ millions)
Assets
Cash and cash equivalents7 7 — — 7 7 
Derivatives
Swaps— — 60 4 60 4 
Equity securities
U.S. companies21 26 — — 21 26 
International companies148 135 — — 148 135 
Fixed income
Corporate debt— — 686 662 686 662 
Treasuries, other debt87 162 1,013 968 1,100 1,130 
Mortgage backed securities— — 13 12 13 12 
Insurance contracts— — 104 98 104 98 
Other3 4 19 21 22 25 
Total investments, at fair value(1)
266 334 1,895 1,765 2,161 2,099 
Liabilities
Derivatives
Swaps— — 60 4 60 4 
Total liabilities— — 60 4 60 4 
Total net assets(2)
266 334 1,835 1,761 2,101 2,095 
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(1)Certain investments that are measured at fair value using the NAV per share practical expedient have not been classified in the fair value hierarchy. Total investments, at fair value, for the year ended December 31, 2023 excludes investments in pooled-type investments, registered investment companies and short-term investment funds with fair values of $460 million, $43 million and $31 million, respectively. Total investments, at fair value, for the year ended December 31, 2022 excludes investments in pooled-type investments, registered investment companies and short-term investment funds with fair values of $441 million, $41 million and $41 million, respectively.
(2)Total net assets excludes non-financial plan receivables and payables of $22 million and $5 million, respectively, as of December 31, 2023 and $17 million and $10 million, respectively, as of December 31, 2022. Non-financial items include due to/from broker, interest receivables and accrued expenses.
Schedule of Company Commitments to Fund Benefit Obligations
Benefit obligation funding is as follows:
Total
Expected
2024
(In $ millions)
Cash contributions to defined benefit pension plans29 
Benefit payments to nonqualified pension plans19 
Benefit payments to other postretirement benefit plans3 
Schedule of Pension Benefits Expected to be Paid from the Plans or From the Company's Assets
Pension and postretirement benefits expected to be paid are as follows:
Pension
Benefit
Payments(1)
Company Portion
of Postretirement
Benefit Cost(2)
(In $ millions)
2024238 3 
2025234 3 
2026232 3 
2027226 3 
2028224 2 
2029-20331,044 11 
______________________________
(1)Payments are expected to be made primarily from plan assets.
(2)Payments are expected to be made primarily from Company assets.