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Pension and Other Postretirement Benefits (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Retirement Benefits [Abstract]    
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan  
The following tables provide certain information regarding the Company's pension, postretirement and supplemental retirement plans as of December 31, 2021 and 2020:
Defined Benefit Pension PlansPostretirement Benefit PlansSupplemental Retirement Plans
(Dollars in millions)202120202021202020212020
Change in benefit obligation:
Benefit obligation at beginning of year$226 $261 $2 $3 $23 $24 
Service cost— — — — — — 
Interest cost5 7 — — 1 1 
Plan participants' contributions— — — — — — 
Actuarial (gain) loss(3)(10)— (1)(1)(1)
Benefits paid(13)(10)— — (1)(1)
(Gain) loss due to settlement— (21)— — — — 
Plan amendments— — — — — — 
Exchange rate differences and other— (1)— — — — 
Benefit obligation at end of year$215 $226 $2 $2 $22 $23 
Change in plan assets:
Fair value of plan assets at beginning of year$151 $158 $1 $1 $11 $10 
Actual return on plan assets15 19 — — 1 1 
Plan participants' contributions— — — — — — 
Employer contributions13 6 — — 1 1 
Benefits paid(13)(10)— — (1)(1)
(Loss) gain due to settlement— (21)— — — — 
Exchange rate differences and other— (1)— — — — 
Fair value of plan assets at end of year166 151 1 1 12 11 
Contributions between measurement date and year end— — — — — — 
Funded status of the plans at year end$(49)$(75)$(1)$(1)$(10)$(12)
Schedule of Amounts Recognized in Balance Sheet  
The amounts recognized in the Consolidated Balance Sheet, as of December 31, 2021 and 2020 consist of:
Defined Benefit Pension PlansPostretirement Benefit PlansSupplemental Retirement Plans
(Dollars in millions)202120202021202020212020
Noncurrent assets$— $— $1 $1 $— $— 
Current liabilities— — — — — — 
Noncurrent liabilities(49)(75)(2)(2)(10)(11)
Net liability recognized
$(49)$(75)$(1)$(1)$(10)$(11)
Schedule of Amounts Recognized in Other Comprehensive Earnings  
Amounts recognized in accumulated other comprehensive income (before taxes) at December 31, 2021 and 2020 consist of:
Defined Benefit Pension PlansPostretirement Benefit Plans Supplemental Retirement Plans
(Dollars in millions)202120202021202020212020
Prior service cost$— $— $— $— $— $— 
Net actuarial loss (gain)40 52 (1)(2)6 7 
Total amount recognized in accumulated other comprehensive losses (earnings)
$40 $52 $(1)$(2)$6 $7 
Schedule of Pension Plans with ABO and PBO in Excess of the Fair Value of Plan Assets   The table below presents information for the pension plans with an ABO and PBO in excess of the fair value of plan assets at December 31, 2021 and 2020.
(Dollars in millions)December 31, 2021December 31, 2020
Projected benefit obligation$237 $249 
Accumulated benefit obligation237 249 
Fair value of plan assets178 162 
Defined Benefit Plan, Assumptions  
The following table summarizes the weighted average actuarial assumptions used to determine our benefit obligations at December 31, 2021 and 2020:
Defined Benefit Pension PlansPostretirement Benefit PlansSupplemental Retirement Plans
202120202021202020212020
Rate assumptions
Discount rate2.8 %2.4 %2.6 %4.3 %2.8 %2.5 %
Increase in future compensation levelsN/AN/AN/AN/AN/AN/A
Expected long-term return on plan assets5.9 %6.4 %5.9 %6.4 %N/AN/A
Health care trend rate assumed for next yearN/AN/A4.6 %5.4 %N/AN/A
Ultimate health care trend rateN/AN/A4.3 %4.3 %N/AN/A
Year rate reaches ultimate trend rateN/AN/A20312031N/AN/A
The following table summarizes the weighted average actuarial assumptions used to determine our net periodic cost of the plans for the years ended December 31, 2021, 2020 and 2019:
Defined Benefit Pension PlansPostretirement Benefit PlansSupplemental Retirement Plans
202120202019202120202019202120202019
Rate assumptions
Discount rate2.8 %2.7 %3.6 %2.1 %2.8 %3.3 %2.4 %2.4 %3.5 %
Expected long - term return on plan assets6.4 %6.3 %6.9 %6.4 %5.8 %5.7 %N/AN/AN/A
Increase in future compensation levelsN/AN/AN/AN/AN/AN/AN/AN/AN/A
Health care trend rate assumed for next yearN/AN/AN/A5.8 %6.0 %6.5 %N/AN/AN/A
Ultimate health care trend rateN/AN/AN/A4.5 %4.5 %4.5 %N/AN/AN/A
Year rate reaches ultimate trend rateN/AN/AN/A203020292027N/AN/AN/A
Schedule of Net Benefit Costs
The following table summarizes the components of net periodic benefit cost for the Company's pension, postretirement and supplemental retirement plans for the three months ended March 31,:
Defined Benefit Pension PlansPostretirement Benefit PlanSupplemental Retirement Plans
(Dollars in millions)March 31, 2022March 31, 2021March 31, 2022March 31, 2021March 31, 2022March 31, 2021
Service cost$— $— $— $— $— $— 
Interest cost$2 $1 $— $— $— $— 
Less Expected return on plan assets$(2)$(2)$— $— $— $— 
Amortization of net actuarial loss (gain)$— $1 $— $— $— $— 
Amortization of prior service cost$— $— $— $— $— $— 
Settlement expense (income)$1 $— $— $— $— $— 
Net periodic benefit cost
$1 $— $— $— $— $— 
The following table summarizes the components of net periodic benefit cost for the Company's pension, postretirement and supplemental retirement plans for the years ended December 31, 2021 and 2020 and 2019:
Defined Benefit Pension PlansPostretirement Benefit PlansSupplemental Retirement Plans
(Dollars in millions)202120202019202120202019202120202019
Service cost$— $— $— $— $— $— $— $— $— 
Interest cost$5 $7 $7 $— $— $— $1 $1 $1 
Expected return on plan assets$(7)$(8)$(7)$— $— $— $— $— $— 
Amortization of net actuarial loss (gain)$2 $3 $2 $(1)$(1)$— $— $— $— 
Amortization of prior service cost$— $— $— $— $— $— $— $— $— 
Settlement expense (income)$— $3 $— $— $— $— $— $— 
Net periodic benefit cost
$— $5 $2 $(1)$(1)$— $1 $1 $1 
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income  
The following table summarizes the other changes in plan assets and benefit obligations recognized in other comprehensive earnings for the Company's pension, postretirement and supplemental retirement benefit plans for the years ended December 31, 2021 and 2020 and 2019:
Defined Benefit Pension PlansPostretirement Benefit PlansSupplemental Retirement Plans
(Dollars in millions)202120202019202120202019202120202019
Net actuarial (gain) loss$(11)$(21)$19 $— $(1)$(1)$(1)$(1)$4 
Prior service cost — — — — — — — — — 
Amortization of net actuarial (loss) gain from prior years(2)(6)(2)1 1 — — — — 
Amortization of prior service cost— — — — — — — — — 
Other(1)
— — — — — — — — — 
Total recognized in other comprehensive income
$(13)$(27)$17 $1 $— $(1)$(1)$(1)$4 
__________________
(1)Includes foreign exchange translation
Schedule of Allocation of Plan Assets  
The table below represents all of the Company's funded pension plans' and postretirement benefit plans' weighted-average asset allocation at December 31, 2021 and 2020 by asset category:
Asset Allocation
20212020
Asset Category
Equity securities41 %55 %
Debt securities47 %33 %
Real estate6 %6 %
Other, primarily cash and cash equivalents, and hedge funds6 %6 %
The table below presents the target allocation ranges for each major asset category for the Company's benefit plans for the years ended December 31, 2021 and 2020.
Target Asset Allocation Range
20212020
Asset Category
Equity securities
40% - 60%
40% - 60%
Debt securities
30% - 50%
40% - 50%
Real estate
5% - 10%
5% - 10%
Other, primarily cash and cash equivalents and hedge funds
5% - 10%
5% - 10%
Schedule of Fair Value of Category of Plan Assets  
The following tables provides the fair value of plan assets held by our defined benefit plan by asset category and by fair value hierarchy level. Certain investments are measured at their NAV per share and do not have readily determined fair values. As such, these investments are not subject to leveling in the fair value hierarchy.
December 31, 2021
(Dollars in millions)Level 1Level 2Level 3Total
Asset category
Investments measured at fair value:$— $— $— $— 
Cash and cash equivalents$11 $— $— $11 
Equity securities6 — — 6 
Debt securities— — — — 
Total$17 $— $— $17 
Investments measured at NAV:
Collective trust funds— — — 162 
Equity and fixed income funds— — — — 
Total
$17 $— $— $179 
December 31, 2020
(Dollars in millions)Level 1Level 2Level 3Total
Asset category
Investments measured at fair value:
Cash and cash equivalents$9 $— $— $9 
Equity securities6 — — 6 
Debt securities— — — — 
Total$15 $— $— $15 
Investments measured at NAV:
Collective trust funds— — — 148 
Equity and fixed income funds— — — — 
Total
$15 $— $— $163 
Schedule of Expected Benefit Payments  
The following table presents expected pension and postretirement benefit payments over the next 10 years:
(Dollars in millions)Defined Benefit Pension PlansPostretirement Benefit PlansSupplemental Retirement Plans
Year Ending December 31,
2022$12 $— $1 
202312—1
202413—1
202513—1
202613—1
2027-203163—6