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Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Change in Benefit Obligation, Fair Value of Plan Assets & Funded Status of Pension Plans & Postretirement Medical Plan
The following table summarizes the benefit obligations, the fair value of plan assets, and the funded status of our pension and postretirement medical plans:
Funded
Pension Plans		Unfunded
Pension Plan		Postretirement
Medical Plan
 202420232024202320242023
 (In millions)
Change in Benefit Obligation      
Balance at January 1, $1,760 $1,802 $222 $212 $53 $52 
Service cost 29 26 11 9 3 3 
Interest cost 81 88 10 9 3 2 
Actuarial (gain) loss (a)(93)44 42 7 1 1 
Plan settlements— (143)— — — — 
Benefit payments(88)(77)(6)(15)(4)(5)
Plan amendments35 — — — — — 
Foreign currency exchange rate changes (5)20 — — — — 
Balance at December 31, (b)$1,719 $1,760 $279 $222 $56 $53 
Change in Fair Value of Plan Assets
Balance at January 1,$2,445 $2,450 $— $— $— $— 
Actual return on plan assets18 186 — — — — 
Employer contributions3 1 6 15 4 5 
Plan settlements— (143)— — — — 
Benefit payments(88)(77)(6)(15)(4)(5)
Foreign currency exchange rate changes(4)28 — — — — 
Balance at December 31,$2,374 $2,445 $— $— $— $— 
Funded Status (Plan assets greater (less) than benefit obligations) at December 31,$655 $685 $(279)$(222)$(56)$(53)
Unrecognized Net Actuarial (Gains) Losses$372 $332 $71 $30 $(23)$(25)
(a)In 2024, changes in discount rates resulted in actuarial gains of $191 million, changes in the retirement rate assumption resulted in actuarial gains of $59 million, changes in the withdrawal rate assumption resulted in actuarial losses of $70 million, changes in the salary scale assumption resulted in actuarial losses of $55 million, and updates to census data resulted in actuarial losses of $19 million. In addition, the use of annuity pricing to measure the benefit obligation of the U.K. pension plan resulted in actuarial losses of $26 million in 2024. Finally, changes in all other assumptions resulted in net actuarial losses of $30 million in 2024. In 2023, changes in discount rates resulted in actuarial losses of $56 million, updates to census data resulted in actuarial losses of $18 million, and the alignment of the benefit obligation to the amount of plan settlement payments resulted in actuarial gains of $20 million. Changes in all other assumptions resulted in net actuarial gains of $2 million in 2023.
(b)At December 31, 2024, the accumulated benefit obligation for the funded and unfunded defined benefit pension plans was $1,619 million and $182 million, respectively (2023: $1,684 million and $181 million, respectively).
Amounts Recognized in Balance Sheet for Pension Plans & Postretirement Medical Plan Amounts recognized in the Consolidated Balance Sheet at December 31 consisted of the following:
Funded
Pension Plans		Unfunded
Pension Plan		Postretirement
Medical Plan
 202420232024202320242023
 (In millions)
Noncurrent assets$655 $685 $— $— $— $— 
Current liabilities— — (15)(23)(4)(5)
Noncurrent liabilities— — (264)(199)(52)(48)
Post-retirement benefit assets (liabilities)$655 $685 $(279)$(222)$(56)$(53)
Accumulated other comprehensive (income) loss, pre-tax (a)$372 $332 $71 $30 $(23)$(25)
(a)The after‑tax deficit reflected in Accumulated other comprehensive income (loss) was $208 million at December 31, 2024 (2023: $134 million deficit).
Components of Net Periodic Benefit Cost for Pension Plans & Postretirement Medical Plan
The net periodic benefit cost for funded and unfunded pension plans, and the postretirement medical plan, is as follows:
 Pension PlansPostretirement Medical Plan
 202420232022202420232022
 (In millions)
Service cost $40 $35 $44 $3 $3 $3 
Interest cost (a)91 97 69 3 2 1 
Expected return on plan assets (a)(155)(156)(196)— — — 
Amortization of unrecognized net actuarial losses (gains) (a)5 3 11 (1)(2)(1)
Prior service cost (a)35 — — — — — 
Settlement loss (a)— 17 2 — — — 
Net Periodic Benefit Cost (Income) (a)$16 $(4)$(70)$5 $3 $3 
(a)These other components of net periodic benefit cost (income) included in Other, net in the Statement of Consolidated Income was $(22) million in 2024 (2023: $(39) million; 2022: $(114) million).
Actuarial Assumptions Used for Pension Plans & Postretirement Medical Plan The weighted average actuarial assumptions used to determine benefit obligations at December 31 and net periodic benefit cost for the three years ended December 31 for our funded and unfunded pension plans were as follows:
 202420232022
Benefit Obligations:   
Discount rate 5.4%4.8%5.0%
Rate of compensation increase 4.4%3.9%4.0%
Net Periodic Benefit Cost:
Discount rate
Service cost4.8%5.0%3.3%
Interest cost4.7%4.9%3.0%
Expected rate of return on plan assets 6.4%6.5%6.5%
Rate of compensation increase 3.9%4.0%3.8%
The actuarial assumptions used to determine benefit obligations at December 31 for the post-retirement medical plan were as follows:
 202420232022
Discount rate 5.5%4.7%4.9%
Initial health care trend rate 7.1%6.0%6.3%
Ultimate trend rate 4.0%4.0%4.0%
Year in which ultimate trend rate is reached 204920462046
Fair Value of Financial Assets of Funded Pension Plans The following tables provide the fair value of the financial assets of the funded pension plans at December 31, 2024 and 2023 in accordance with the fair value measurement hierarchy described in Note 1, Nature of Operations, Basis of Presentation and Summary of Accounting Policies.
 Level 1Level 2Level 3Net Asset
Value (c)		Total
 (In millions)
December 31, 2024     
Cash and Short-Term Investment Funds $47 $— $— $— $47 
Equities:
U.S. equities (domestic) 339 — — — 339 
International equities (non-U.S.) 38 — — 114 152 
Global equities (domestic and non-U.S.) — 5 — — 5 
Fixed Income:
Treasury and government related (a) — 353 — — 353 
Mortgage-backed securities (b) — 75 — 9 84 
Corporate — 439 — 3 442 
Other:
Private equity funds — — — 427 427 
Real estate funds — — — 97 97 
Bulk annuity policy— — 428 — 428 
Total investments$424 $872 $428 $650 $2,374 
December 31, 2023
Cash and Short-Term Investment Funds $27 $— $— $— $27 
Equities:
U.S. equities (domestic) 309 — — — 309 
International equities (non-U.S.) 52 — — 158 210 
Global equities (domestic and non-U.S.) — 6 — 55 61 
Fixed Income:
Treasury and government related (a) — 581 — — 581 
Mortgage-backed securities (b) — 98 — 12 110 
Corporate — 547 — 3 550 
Other:
Private equity funds — — — 414 414 
Real estate funds — — — 183 183 
Bulk annuity policy— — — — — 
Total investments$388 $1,232 $— $825 $2,445 
(a)Includes securities issued and guaranteed by U.S. and non‑U.S. governments, and securities issued by governmental agencies and municipalities.
(b)Comprised of U.S. residential and commercial mortgage-backed securities.
(c)Includes certain investments that have been valued using the net asset value (NAV) practical expedient, and therefore have not been categorized in the fair value hierarchy.  The inclusion of such amounts in the above table is intended to aid reconciliation of investments categorized in the fair value hierarchy to total pension plan assets.
Estimated Future Benefit Payments for Pension Plans & Postretirement Medical Plan
Estimated future benefit payments by the funded and unfunded pension plans, and the post-retirement medical plan, which reflect expected future service, are as follows (in millions):
2025$108 
2026160 
2027117 
2028120 
2029117 
Years 2030 to 2034648