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Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Schedule of the Benefit Obligation, the Fair Value of Plan Assets, and the Funded Status
A summary of the benefit obligation and the fair value of plan assets, as well as the funded status for the retirement and postretirement plans as of December 31, 2021 and 2020, is as follows (benefits paid in the table below include only those amounts contributed directly to or paid directly from plan assets): 
(in millions)Retirement PlansPostretirement Plans
 2021202020212020
Net benefit obligation at beginning of year$2,220 $1,945 $36 $38 
Service cost4 4 — — 
Interest cost40 52 1 1 
Plan participants’ contributions— — 2 2 
Actuarial (gain) loss 1
(55)269 (2)1 
Gross benefits paid(77)(76)(5)(6)
Foreign currency effect(10)26 — — 
Other adjustments 2
— — (4)— 
Net benefit obligation at end of year2,122 2,220 28 36 
Fair value of plan assets at beginning of year2,243 1,960 9 13 
Actual return on plan assets58 327 — — 
Employer contributions11 12 — — 
Plan participants’ contributions— — 2 2 
Gross benefits paid(77)(76)(5)(6)
Foreign currency effect(4)20 — — 
Fair value of plan assets at end of year2,231 2,243 6 9 
Funded status$109 $23 $(22)$(27)
Amounts recognized in consolidated balance sheets:
Non-current assets$359 $297 $— $— 
Current liabilities(10)(10)— — 
Non-current liabilities(240)(264)(22)(27)
$109 $23 $(22)$(27)
Accumulated benefit obligation$2,110 $2,204 
Plans with accumulated benefit obligation in excess of the fair value of plan assets:
Projected benefit obligation$250 $274 
Accumulated benefit obligation$238 $258 
Fair value of plan assets$— $— 
Amounts recognized in accumulated other comprehensive loss, net of tax:
Net actuarial loss (gain)$350 $373 $(36)$(37)
Prior service credit2 2 (14)(12)
Total recognized$352 $375 $(50)$(49)
1The actuarial gain in 2021 compared to the actuarial loss in 2020 was primarily due to an increase in the discount rate.
2Relates to the impact of a plan amendment in 2021.
Schedule of Net Periodic Benefit Cost
A summary of net periodic benefit cost for our retirement and postretirement plans for the years ended December 31, is as follows: 
(in millions)Retirement PlansPostretirement Plans
 202120202019202120202019
Service cost$4 $4 $3 $— $— $— 
Interest cost40 52 64 1 1 1 
Expected return on assets(104)(102)(108)— — — 
Amortization of:
Actuarial loss (gain)21 17 12 (2)(2)(2)
Prior service credit— — — (1)(1)(1)
Net periodic benefit cost (39)(29)(29)(2)(2)(2)
Settlement charge 3 
1
3 
1
113 2— — — 
Total net periodic benefit cost$(36)$(26)$84 $(2)$(2)$(2)
1During the years ended December 31, 2021 and 2020, lump sum withdrawals exceeded the combined total anticipated annual service and interest cost of our U.K. pension plan, triggering the recognition of non-cash pre-tax settlement charges of $3 million.
2Relates to the impact of a retiree annuity purchase in 2019. The Company purchased a group annuity contract under which an insurance company assumed a portion of the Company's obligation to pay pension benefits to the plan's beneficiaries. The purchase of this group annuity contract was funded by pension plan assets. The non-cash pretax settlement charge reflects the accelerated recognition of a portion of unamortized actuarial losses in the plan.
Schedule of Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income, Net of Tax
Other changes in plan assets and benefit obligations recognized in other comprehensive income, net of tax for the years ended December 31, are as follows:
(in millions)Retirement PlansPostretirement Plans
 202120202019202120202019
Net actuarial loss (gain) $(6)$28 $(10)$(1)$1 $— 
Recognized actuarial (gain) loss(15)(9)(10)1 2 1 
Prior service cost— — — (1)1 1 
Settlement charge(2)
1
(2)
1
(85)2— — — 
Total recognized$(23)$17 $(105)$(1)$4 $2 
1During the years ended December 31, 2021 and 2020, lump sum withdrawals exceeded the combined total anticipated annual service and interest cost of our U.K. pension plan, triggering the recognition of non-cash pre-tax settlement charges of $3 million.
2Relates to the impact of a retiree annuity purchase in 2019. The Company purchased a group annuity contract under which an insurance company assumed a portion of the Company's obligation to pay pension benefits to the plan's beneficiaries. The purchase of this group annuity contract was funded by pension plan assets. The non-cash after tax settlement charge reflects the accelerated recognition of a portion of unamortized actuarial losses in the plan.
Schedule of Assumptions Used
Assumptions
 Retirement PlansPostretirement Plans
 202120202019202120202019
Benefit obligation:
Discount rate 2
3.05 %2.75 %3.45 %2.72 %2.20 %3.08 %
Net periodic cost:
Weighted-average healthcare cost rate 1
N/A6.00 %6.50 %
Discount rate - U.S. plan 2
2.75 %3.45 %4.40 %2.20 %3.08 %4.15 %
Discount rate - U.K. plan 2
1.36 %1.92 %2.72 %
Return on assets 3
5.00 %5.50 %6.00 %
1The health care cost trend rate no longer applies since all subsidized benefits subject to trend were eliminated in 2021.
2Effective January 1, 2021, we changed our discount rate assumption on our U.S. retirement plans to 2.75% from 3.45% in 2020 and changed our discount rate assumption on our U.K. plan to 1.36% from 1.92% in 2020.
3The expected return on assets assumption is calculated based on the plan’s asset allocation strategy and projected market returns over the long-term. Effective January 1, 2022, our return on assets assumption for the U.S. plan was reduced to 4.00% from 5.00% and the U.K. plan was reduced to 5.00% from 5.50%.
Schedule of Information about the Expected Cash Flows for Retirement and Post-Retirement Plans and Impact of the Medicare Subsidy Information about the expected cash flows for our retirement and postretirement plans is as follows: 
(in millions)
Retirement
Plans 1
Postretirement Plans 2
2022$70 3 
202373 3 
202475 3 
202579 3 
202682 2 
2027-2031447 8 
1Reflects the total benefits expected to be paid from the plans or from our assets including both our share of the benefit cost and the participants’ share of the cost.
2Reflects the total benefits expected to be paid from our assets.
Schedule of Fair Value of Defined Benefit Plan Assets by Asset Class The fair value of our defined benefit plans assets as of December 31, 2021 and 2020, by asset class is as follows:
(in millions)December 31, 2021
 TotalLevel 1Level 2Level 3
Cash and short-term investments$6 $6 $— $— 
Equities:
U.S. indexes 1
6 6 — — 
Fixed income:
Long duration strategy 2
1,376 — 1,376 — 
Intermediate duration securities59 — 59 — 
Real Estate:
U.K. 3
44 — — 44 
Infrastructure:
U.K. 4
81 — 81 
Total$1,572 $12 $1,516 $44 
Common collective trust funds measured at net asset value as a practical expedient:
Collective investment funds 5
$659 
Total$2,231 
(in millions)December 31, 2020
 TotalLevel 1Level 2Level 3
Cash and short-term investments$4 $4 $— $— 
Equities:
U.S. indexes 1
9 9 — — 
U.S. growth and value41 41 — — 
Fixed income:
Long duration strategy 2
1,339 — 1,339 — 
Intermediate duration securities57 — 57 — 
Real Estate:
U.K. 3
38 — — 38 
Infrastructure:
U.K. 4
$78 $— $78 $— 
Total$1,566 $54 $1,474 $38 
Common collective trust funds measured at net asset value as a practical expedient:
Collective investment funds 5
$677 
Total$2,243 
1Includes securities that are tracked in the S&P Smallcap 600 index.
2Includes securities that are mainly investment grade obligations of issuers in the U.S.
3Includes a fund which holds real estate properties in the U.K.
4Includes funds that invest in global infrastructure for the UK Pension.
5Includes the Standard & Poor's 500 Composite Stock Index, the Standard & Poor's MidCap 400 Composite Stock Index, a short-term investment fund which is a common collective trust vehicle, and other various asset classes.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets The following table details further information on our plan assets where we have used significant unobservable inputs:
(in millions)Level 3
Balance as of December 31, 2020
$38 
       Distributions(2)
       Gain (loss) 8 
Balance as of December 31, 2021
$44