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Employee Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Plans Disclosures
The following table presents the change in benefit obligation and the funded status of the defined benefit pension and post-retirement benefit plans (in millions):
 Domestic pension benefitsInternational pension benefitsPostretirement benefits
 202420232024202320242023
Change in benefit obligation
Benefit obligation at beginning of year$3,311 $3,182 $578 $549 $425 $434 
Service cost79 80 20 18 3 5 
Interest cost165 168 20 20 19 23 
Plan participants’ contributions9 9 
Plan amendments(26)
Actuarial (gain) loss(100)89 (17)9 (32)(7)
Divestiture(1)(3)
Other (1)
6 14 (8)(3) 1 
Benefits paid(241)(222)(31)(25)(33)(40)
Foreign currency translation(36)10 
Benefit obligation at end of year$3,220 $3,311 $525 $578 $362 $425 
Change in plan assets
Fair value of plan assets at beginning of year$2,760 $2,683 $405 $381 $— $5 
Actual gain (loss) on plan assets303 281 (6)10 
Employer contributions20 18 17 32 24 26 
Plan participants’ contributions9 9 
Benefits paid(241)(222)(28)(25)(33)(40)
Foreign currency translation(26)7 
Fair value of plan assets at end of year$2,842 $2,760 $362 $405 $— $— 
Funded status at end of year
Fair value of plan assets$2,842 $2,760 $362 $405 $— $— 
Benefit obligations(3,220)(3,311)(525)(578)(362)(425)
Funded status of plans$(378)$(551)$(163)$(173)$(362)$(425)
Amounts recognized in the consolidated balance sheets consist of:
Noncurrent asset$16 $24 
Current liability$(18)$(17)(7)(8)$(27)$(27)
Noncurrent liability(360)(534)(172)(189)(335)(398)
Recognized liability$(378)$(551)$(163)$(173)$(362)$(425)
Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial loss (gain)$64 $259 $12 $10 $(220)$(212)
Prior service cost (credit)29 34  (29)(10)
Amounts recognized at end of year$93 $293 $12 $10 $(249)$(222)
(1)Other consists of domestic plan special termination benefits charge and curtailment and international plan settlements. Refer to Note 2 (Restructuring, Impairment and Other Charges and Credits) in the notes to the consolidated financial statements for more information.
Schedule of Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets
The following table presents information for pension plans where the projected benefit obligation or the accumulated benefit obligation exceeded the fair value of plan assets (in millions):
 December 31,
 20242023
Projected benefit obligation$3,432 $3,540 
Fair value of plan assets$2,875 $2,791 
Accumulated benefit obligation$494 $3,376 
Fair value of plan assets$33 $2,791 
Schedule of Net Benefit Costs
The following table presents the components of net periodic benefit expense (income) for employee retirement plans, which other than the service cost component is recorded in other (expense) income, net in the consolidated statements of income (in millions):
 Domestic pension benefitsInternational pension benefitsPostretirement benefits
 202420232022202420232022202420232022
Service cost$79 $80 $105 $20 $18 $22 $3 $5 $9 
Interest cost165 168 98 20 20 11 19 23 15 
Expected return on plan assets(179)(176)(210)(16)(13)(9)
Amortization of prior service cost (credit)6 6 6 (1)(7)(5)(5)
Amortization of actuarial gain(24)(22)(5)
Recognition of actuarial (gain) loss(31)(16)29 6 1 8 
Total net periodic benefit expense (income)$40 $62 $28 $30 $26 $31 $(9)$1 $14 
Settlement charge$2 
Curtailment charge $3 
Special termination benefit charge$6 15 $2 $1 
Total expense (income)$46 $80 $30 $30 $26 $33 $(9)$2 $14 
          
Other changes in plan assets and benefit obligations
   recognized in other comprehensive loss:
Curtailment effects$(1)$(4)
Settlements$11 
Current year actuarial (gain) loss(225)(16)$16 $5 $14 (27)$(32)$(8)$(209)
Amortization of actuarial (loss) gain(9)24 22 5 
Recognition of actuarial gain (loss)31 16 (29)2 1 20 
Current year prior service cost (credit)28 (26)
Amortization of prior service (cost) credit(6)(6)(6)1 7 5 5 
Total recognized in other comprehensive (loss) income$(201)$(10)$9 $(2)$15 $5 $(27)$19 $(199)
Schedule of Defined Benefit Plan, Assumptions
The following table presents the weighted-average assumptions used to determine benefit obligations:
 Pension benefits
 DomesticInternationalPostretirement benefits
 202420232022202420232022202420232022
Discount rate5.67 %5.16 %5.50 %2.10 %2.30 %2.46 %5.66 %5.24 %5.58 %
Rate of compensation increase3.50 %3.97 %3.48 %2.61 %3.74 %3.73 %
Cash balance crediting rate4.44 %4.22 %4.14 %0.93 %0.82 %0.82 %
Employee contributions crediting rate5.10 %5.25 %4.62 %
The following table presents the weighted-average assumptions used to determine net periodic benefit expense (income):
 Pension benefits
 DomesticInternationalPostretirement benefits
 202420232022202420232022202420232022
Discount rate5.16 %5.50 %2.88 %2.30 %2.46 %1.20 %5.24 %5.58 %2.99 %
Expected return on plan assets6.75 %6.75 %6.00 %4.34 %3.85 %1.64 %
Rate of compensation increase3.98 %3.87 %3.50 %3.74 %3.73 %3.63 %
Cash balance crediting rate4.21 %3.86 %3.86 %0.82 %0.82 %0.91 %
Employee contributions crediting rate5.25 %4.62 %1.57 %
Schedule of Health Care Cost Trend Rates
The following table presents the assumed health care trend rates:
Assumed health care trend rates as of December 3120242023
Health care cost trend rate assumed for next year (pre-65 / post-65 retirees)
7.00% / 7.00%
6.75% / 14.75%
Ultimate health care trend rate5 %5 %
Year that the rate reaches the ultimate trend rate20332031
Schedule of Fair Value, Assets Measured on Recurring Basis
The following table presents the fair values of domestic defined benefit and post-retirement benefit plan assets, by asset category (in millions):
 December 31, 2024December 31, 2023
 TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Equity securities:       
U.S. companies$1,261  $1,261 $1,260 $9 $1,251 
International companies  
Fixed income:  
U.S. treasury bonds294 $294 204 204 
U.S. corporate bonds876 876 946 946 
  
Preferred securities 1 1 
Private equity (1)
  
Real estate (2)
2 $2 3 $3 
Cash equivalents409 357 52 346 339 7 
Total$2,842 $651 $2,189 $2 $2,760 $552 $2,205 $3 
(1)This category includes venture capital, leverage buyouts and distressed debt limited partnerships invested primarily in U.S. companies. The inputs are valued by discounted cash flow analysis and comparable sale analysis.
(2)This category includes industrial, office, apartments, hotels, infrastructure and retail investments which are limited partnerships predominately in the U.S. The inputs are valued by discounted cash flow analysis; comparable sale analysis and periodic external appraisals.
The following table presents the fair values of international defined benefit plan assets, by asset category (in millions):
December 31, 2024December 31, 2023
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Fixed income:        
International fixed income$94 $94  $96 $96 
Insurance contracts167 $167 195 $195 
Mortgages33 33 43 43 
Cash equivalents52 52  59 59 
Other16 16 12 12 
Total$362 $146 $— $216 $405 $155 $— $250 
Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The following table presents the changes in the fair value of the defined benefit plans’ Level 3 assets (in millions):
 DomesticInternational
 Private equityReal estateMortgagesInsurance contractsOther
Balance as of December 31, 2022$24 $7 $42 $192 $11 
Actual return on plan assets relating to assets still held at the reporting date(12)1 
Actual return on plan assets relating to assets sold during the reporting period
Asset (sales) purchases(12)(4)3 1 
Balance as of December 31, 2023$— $3 $43 $195 $12 
Actual return on plan assets relating to assets still held at the reporting date 2 
Actual return on plan assets relating to assets sold during the reporting period
Asset (sales) purchases (1)(12)(1)4 
Change in insurance contract valuation(27)
Balance as of December 31, 2024$— $2 $33 $167 $16 
Schedule of Expected Benefit Payments
The following table presents the gross benefit payments expected to be paid for domestic and international defined benefit pension plans and the postretirement medical and life plans (in millions):
Expected benefit payments
 Domestic pension benefitsInternational pension benefitsPostretirement benefits
2025$253 $28 $27 
2026$255 $37 $27 
2027$266 $34 $28 
2028$268 $37 $28 
2029$270 $38 $28 
2030-2034$1,283 $204 $139