Benefit Obligations

6 Months Ended

Jun. 30, 2024

Retirement Benefits [Abstract]

Benefit Obligations

Benefit Obligations

The components of net periodic benefit cost are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	Pension Benefits	Post-retirement Benefits	Pension Benefits	Post-retirement Benefits	Pension Benefits	Post-retirement Benefits	Pension Benefits	Post-retirement Benefits
	(In $ millions)
Service cost	4	—	2	—	7	—	6	—
Interest cost	32	—	34	1	63	1	66	1
Expected return on plan assets	(34)	—	(33)	—	(68)	—	(66)	—
Total	2	—	3	1	2	1	6	1

Benefit obligation funding is as follows:

	As of June 30, 2024	Total Expected 2024
	(In $ millions)
Cash contributions to defined benefit pension plans	13	29
Benefit payments to nonqualified pension plans	10	19
Benefit payments to other postretirement benefit plans	2	3

The Company's estimates of its U.S. defined benefit pension plan contributions reflect the provisions of the Pension Protection Act of 2006.

Pension and postretirement benefit plan balances recognized in the unaudited consolidated balance sheets consist of the following:

	As of June 30, 2024		As of December 31, 2023
	Pension Benefits	Post-retirement Benefits	Pension Benefits	Post-retirement Benefits
	(In $ millions)
Noncurrent Other assets	170	—	166	—
Current Other liabilities	(22)	(3)	(22)	(3)
Benefit obligations	(394)	(36)	(415)	(37)
Net amount recognized	(246)	(39)	(271)	(40)