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Pension and Other Postretirement Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Funded Status of Pension and Postretirement Benefit Plans
The following sets forth the funded status of the U.S. pension, non-U.S. pension and postretirement benefit plans as of the most recent actuarial valuations using measurement dates of December 31 ($ in millions):
 U.S. Pension BenefitsNon-U.S. Pension BenefitsPostretirement Benefits
 202220212022202120222021
Change in pension benefit obligation:
Benefit obligation at beginning of year$(2,532)$(2,718)$(1,944)$(2,161)$(135)$(148)
Service cost— — (39)(44)— — 
Interest cost(54)(44)(23)(19)(3)(2)
Employee/retiree contributions— — (7)(7)(1)(2)
Benefits and other expenses paid178 167 46 59 13 14 
Actuarial gain (loss)495 63 481 112 20 3 
Amendments, settlements and curtailments— — 66 18 — — 
Foreign exchange rate impact and other— — 148 98 — — 
Benefit obligation at end of year(1,913)(2,532)(1,272)(1,944)(106)(135)
Change in plan assets:
Fair value of plan assets at beginning of year2,303 2,125 1,360 1,331 — — 
Actual return on plan assets(278)335 (322)80 — — 
Employer contributions10 10 40 50 12 12 
Employee contributions— — 7 7 1 2 
Amendments and settlements— — (65)(10)— — 
Benefits and other expenses paid(178)(167)(46)(59)(13)(14)
Foreign exchange rate impact and other— — (105)(39)— — 
Fair value of plan assets at end of year1,857 2,303 869 1,360 — — 
Funded status$(56)$(229)$(403)$(584)$(106)$(135)
Projected Benefit Obligation and Fair Value of Plan Assets
Projected benefit obligation (“PBO”) and fair value of plan assets for pension plans and postretirement benefit plans with PBO’s in excess of plan assets ($ in millions):
U.S. Pension BenefitsNon-U.S. Pension BenefitsPostretirement Benefits
202220212022202120222021
Projected benefit obligation
$98 $2,532 $754 $1,125 $106 $135 
Fair value of plan assets
— 2,303 260 357 — — 
The year-over-year change in the amounts above reflects the changes in the benefit plans with a fair value of plan assets in excess of the projected benefit obligation.
Accumulated Benefit Obligation and Fair Value of Plan Assets
Accumulated benefit obligation (“ABO”) and fair value of plan assets for pension plans with ABO’s in excess of plan assets ($ in millions):
U.S. Pension BenefitsNon-U.S. Pension Benefits
2022202120222021
Accumulated benefit obligation
$98 $2,532 $694 $1,184 
Fair value of plan assets
— 2,303 250 521 
The year-over-year change in the amounts above reflects the changes in the benefit plans with a fair value of plan assets in excess of the accumulated benefit obligation.
Weighted Average Assumptions Used to Determine Benefit Obligations and Cost
Weighted average assumptions used to determine benefit obligations at date of measurement:
 U.S. Pension BenefitsNon-U.S. Pension BenefitsPostretirement Benefits
 202220212022202120222021
Discount rate5.4 %2.7 %3.9 %1.4 %5.4 %2.6 %
Rate of compensation increaseN/AN/A3.0 %2.6 %N/AN/A
Weighted average assumptions used to determine net periodic pension benefit (cost) at date of measurement:
 U.S. PlansNon-U.S. Plans
 2022202120222021
Discount rate2.7 %2.3 %1.4 %1.1 %
Expected long-term return on plan assets6.8 %6.8 %3.2 %3.3 %
Rate of compensation increaseN/AN/A2.6 %2.5 %
Components of Net Periodic Pension and Postretirement Benefit (Cost)
Components of net periodic pension and postretirement benefit (cost) ($ in millions):
 U.S. Pension BenefitsNon-U.S. Pension BenefitsPostretirement Benefits
202220212022202120222021
Service cost$— $— $(39)$(44)$— $— 
Interest cost(54)(44)(23)(19)(3)(2)
Expected return on plan assets130 123 37 42 — — 
Amortization of prior service (cost) credit(1)(1)2 1 2 2 
Amortization of net loss(35)(46)(2)(11)(1)(2)
Curtailment and settlement gains (losses) recognized— — (7)(1)— — 
Net periodic pension benefit (cost)$40 $32 $(32)$(32)$(2)$(2)
Fair Values of Pension Plan Assets
The fair values of the Company’s pension plan assets for both the U.S. and non-U.S. plans as of December 31, 2022 and 2021, by asset category were as follows ($ in millions):
Quoted Prices in Active Market (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Total
20222021202220212022202120222021
Cash and equivalents$113 $85 $— $— $— $— $113 $85 
Equity securities:
Common stock379 486 — — — — 379 486 
Preferred stock— 2 — — — — — 2 
Fixed income securities:
Corporate bonds— — 129 47 — — 129 47 
Government issued— — 24 46 — — 24 46 
Mutual funds156 223 118 248 — — 274 471 
Insurance contracts— — 303 357 — — 303 357 
Total$648 $796 $574 $698 $— $— 1,222 1,494 
Investments measured at NAV (a):
Common/collective trusts811 1,073 
Venture capital, partnerships and other private investments693 1,096 
Total assets at fair value$2,726 $3,663 
(a)    The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the total plan assets.
Benefit Payments that Reflect Expected Future Service
The following sets forth benefit payments, which reflect expected future service, as appropriate, expected to be paid by the plans in the periods indicated ($ in millions):
U.S. Pension PlansNon-U.S. Pension PlansPostretirement Benefit PlansAll Plans
2023$186 $56 $14 $256 
2024184 62 13 259 
2025183 59 12 254 
2026182 64 11 257 
2027180 64 10 254 
2028 - 2032718 352 42 1,112