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Coworker Retirement and Other Compensation Benefits
12 Months Ended
Dec. 31, 2024
Compensation Related Costs [Abstract]  
Coworker Retirement and Other Compensation Benefits Coworker Retirement and Other Compensation Benefits
Profit Sharing Plan and Other Savings Plans
The Company has a profit-sharing plan that includes a salary reduction feature established under the Internal Revenue Code Section 401(k) covering substantially all coworkers in the US. In addition, coworkers outside the US participate in other savings plans. Company contributions to the profit sharing and other savings plans are made in cash and determined at the discretion of the Board of Directors. For the years ended December 31, 2024, 2023 and 2022, the amounts expensed for these plans were $27 million, $20 million and $43 million, respectively.
Coworker Stock Purchase Plan (“CSPP”)
The Company has a CSPP that provides the opportunity for eligible coworkers to acquire shares of the Company’s common stock through accumulated payroll deductions at a 5% discount from the closing market price on the final day of the offering period. There is no additional compensation expense associated with the CSPP.