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Retirement Plans and Postretirement Medical Benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Summary of Change in Benefit Obligation, Plan Assets and the Funded Status of Defined Benefit Pension Plans The benefit obligations and funded status of defined benefit pension plans are as follows:
United StatesForeign
2024202320242023
Accumulated benefit obligation$1,001,801 $1,205,108 $447,127 $488,531 
Projected benefit obligation
Benefit obligation - beginning of year$1,205,140 $1,205,183 $492,767 $451,337 
Service cost49 44 745 766 
Interest cost58,131 63,533 20,815 21,238 
Net actuarial (gain) loss
(39,337)36,882 (15,310)22,984 
Foreign currency changes— — (15,591)19,854 
Settlements(140,356)(2,892)(7,861)(213)
Benefits paid(81,816)(97,610)(24,825)(23,199)
Benefit obligation - end of year$1,001,811 $1,205,140 $450,740 $492,767 
Fair value of plan assets
Fair value of plan assets - beginning of year$1,153,490 $1,161,361 $466,687 $438,403 
Actual return on plan assets22,920 86,044 (19,217)17,057 
Company contributions4,574 6,587 7,881 16,034 
Settlements(140,356)(2,892)(7,861)(213)
Foreign currency changes— — (14,460)18,605 
Benefits paid(81,816)(97,610)(24,825)(23,199)
Fair value of plan assets - end of year$958,812 $1,153,490 $408,205 $466,687 
Amounts recognized in the Consolidated Balance Sheets
Noncurrent asset$— $— $26,502 $27,805 
Current liability(4,606)(5,057)(1,664)(1,694)
Noncurrent liability(38,393)(46,593)(67,373)(52,191)
Funded status$(42,999)$(51,650)$(42,535)$(26,080)
Summary of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
Information provided in the table below is only for pension plans with an accumulated benefit obligation in excess of plan assets:
United StatesForeign
2024202320242023
Projected benefit obligation$1,001,811 $1,205,141 $368,417 $396,690 
Accumulated benefit obligation$1,001,801 $1,205,108 $366,197 $392,586 
Fair value of plan assets$958,812 $1,153,490 $299,912 $342,805 
Summary of Amounts Recognized in Other Comprehensive Loss
Pretax amounts recognized in AOCL consist of:
United StatesForeign
2024202320242023
Net actuarial loss$633,733 $717,530 $350,007 $331,536 
Prior service (credit) cost(65)(85)6,969 7,266 
Transition asset— — (7)(7)
Total$633,668 $717,445 $356,969 $338,795 
Other changes in plan assets and benefit obligations for defined benefit pension plans recognized in other comprehensive loss were as follows:
United StatesForeign
2024202320242023
Net actuarial loss
$23,443 $36,846 $29,581 $35,826 
Amortization of net actuarial loss(19,190)(17,362)(7,737)(2,068)
Amortization of prior service credit (cost)20 20 (298)(286)
Settlements(88,051)(771)(3,373)25 
Total recognized in other comprehensive loss
$(83,778)$18,733 $18,173 $33,497 
Other changes in benefit obligation for postretirement medical benefit plans recognized in other comprehensive loss were as follows:
20242023
Net actuarial gain$(5,603)$(206)
Amortization of net actuarial loss1,451 2,249 
Total recognized in other comprehensive loss
$(4,152)$2,043 
Summary of Costs (Income) of Retirement Plans
The components of net periodic benefit cost (income) for defined benefit pension plans were as follows:
United StatesForeign
202420232022202420232022
Service cost$49 $44 $55 $745 $766 $1,214 
Interest cost58,131 63,533 44,348 20,815 21,238 13,568 
Expected return on plan assets(85,701)(86,008)(71,080)(25,858)(29,899)(26,770)
Amortization of prior service (credit) cost(20)(20)(44)298 286 252 
Amortization of net actuarial loss19,190 17,362 33,164 7,737 2,068 6,767 
Settlements 88,051 771 394 3,373 (25)— 
Net periodic benefit cost (income)
$79,700 $(4,318)$6,837 $7,110 $(5,566)$(4,969)
The components of net periodic benefit cost for postretirement medical benefit plans were as follows:
202420232022
Service cost$369 $367 $731 
Interest cost4,479 5,031 3,679 
Amortization of net actuarial loss(1,451)(2,249)68 
Net periodic benefit cost$3,397 $3,149 $4,478 
Summary of Weighted Average Assumptions Used to Determine Net Periodic Benefit Costs
Weighted-average actuarial assumptions used to determine year end benefit obligations and net periodic benefit cost for defined benefit pension plans include:
202420232022
United States
Used to determine benefit obligations
     Discount rate5.65%5.15%5.55%
     Rate of compensation increaseN/AN/AN/A
Used to determine net periodic benefit cost
     Discount rate5.15%5.55%2.85%
     Expected return on plan assets6.70%6.50%5.10%
     Rate of compensation increaseN/AN/AN/A
Foreign
Used to determine benefit obligations
     Discount rate2.20 %-6.70%1.95 %-4.60%1.95 %-5.10%
     Rate of compensation increase2.00 %-9.88%2.00 %-3.50%2.00 %-3.00%
Used to determine net periodic benefit cost
     Discount rate1.95 %-4.60%1.95 %-5.10%0.85 %-2.85%
     Expected return on plan assets2.75 %-5.50%2.75 %-5.26%3.75 %-5.75%
     Rate of compensation increase2.00 %-3.50%2.00 %-3.60%1.50 %-2.50%
The weighted-average discount rates used to determine end of year benefit obligation and net periodic pension cost include:
202420232022
Discount rate used to determine benefit obligation
U.S.5.60 %5.20 %5.60 %
Canada4.55 %4.60 %5.15 %
Discount rate used to determine net period benefit cost
U.S.5.20 %5.60 %2.80 %
Canada4.60 %5.15 %2.90 %
Summary of Target Allocation and Percentage of Plan Assets for Domestic Pension Plan Target and actual asset allocations for the U.S. pension plans were as follows:
Target allocationPercent of Plan Assets at December 31,
202520242023
Asset category
Equities16 %15 %15 %
Multi-asset credit2 %2 %2 %
Fixed income76 %77 %76 %
Real estate5 %5 %6 %
Private equity1 %1 %1 %
Total100 %100 %100 %
Summary of Target Allocation and Percentage of Plan Assets for Foreign Pension Plan Target and actual asset allocations for the U.K. Plan, which comprises 74% of the total foreign pension plan assets, were as follows:
Target AllocationPercent of Plan Assets at December 31,
202520242023
Asset category
Global equities6 %6 %8 %
Fixed income61 %53 %69 %
Multi-asset credit
5 %6 %8 %
Real estate13 %15 %13 %
Diversifiers
15 %16 %— %
Cash— %4 %2 %
Total100 %100 %100 %
Summary of Fair Value Measurement of Plan Assets
The following tables show the U.S. and foreign pension plans' assets, by level within the fair value hierarchy. The plan asset categories presented in the following tables are subsets of the broader asset allocation categories.

United States Pension Plans
December 31, 2024
Level 1Level 2Level 3Total
Money market funds$— $10,461 $— $10,461 
Equity securities— 67,945 — 67,945 
Commingled fixed income securities— 185,212 — 185,212 
Government and related securities
158,047 37,880 — 195,927 
Corporate debt securities— 498,867 — 498,867 
Mortgage-backed /asset-backed securities— 39,046 — 39,046 
Real estate— — 45,221 45,221 
Securities lending collateral— 109,132 — 109,132 
Total plan assets at fair value $158,047 $948,543 $45,221 $1,151,811 
Securities lending payable(109,132)
Investments valued at NAV4,940 
Cash466 
Other(89,273)
Fair value of plan assets $958,812 


December 31, 2023
Level 1Level 2Level 3Total
Money market funds$— $13,842 $— $13,842 
Equity securities— 102,795 — 102,795 
Commingled fixed income securities— 220,041 — 220,041 
Government and related securities
170,540 28,518 — 199,058 
Corporate debt securities— 545,615 — 545,615 
Mortgage-backed /asset-backed securities— 49,300 — 49,300 
Real estate— — 67,256 67,256 
Securities lending collateral— 104,630 — 104,630 
Total plan assets at fair value $170,540 $1,064,741 $67,256 $1,302,537 
Securities lending payable(104,630)
Investments valued at NAV5,615 
Cash1,240 
Other(51,272)
Fair value of plan assets $1,153,490 
Foreign Plans
December 31, 2024
Level 1Level 2Level 3Total
Money market funds$— $2,400 $— $2,400 
Equity securities— 28,958 — 28,958 
Commingled fixed income securities— 212,425 — 212,425 
Government and related securities
— 31,962 — 31,962 
Corporate debt securities— 20,875 — 20,875 
Real estate— 3,675 43,930 47,605 
Diversified growth funds— — 48,400 48,400 
Total plan assets at fair value $— $300,295 $92,330 $392,625 
Cash12,644 
Other2,936 
Fair value of plan assets $408,205 

December 31, 2023
Level 1Level 2Level 3Total
Money market funds$— $5,997 $— $5,997 
Equity securities— 44,088 — 44,088 
Commingled fixed income securities— 295,105 — 295,105 
Government and related securities
— 38,028 — 38,028 
Corporate debt securities— 28,389 — 28,389 
Real estate— 4,869 43,205 48,074 
Total plan assets at fair value $— $416,476 $43,205 $459,681 
Cash 6,501 
Other505 
Fair value of plan assets$466,687 
Summary of Changes in Fair Value of Level 3 Assets Domestic
The following table summarizes the changes in the fair value of Level 3 assets:
U.S. PlansForeign Plans
Real estateReal estate
Diversifiers
Balance at December 31, 2022
$91,500 $42,980 $24,394 
Realized gains4,505 — — 
Unrealized losses
(18,386)(3,951)(3,133)
Net purchases, sales and settlements(10,363)2,014 (22,396)
Foreign currency and other— 2,162 1,135 
Balance at December 31, 2023
67,256 43,205 — 
Realized gains
6,762 — — 
Unrealized losses
(14,316)406 3,446 
Net purchases, sales and settlements(14,481)1,214 45,406 
Foreign currency and other— (895)(452)
Balance at December 31, 2024
$45,221 $43,930 $48,400 
Summary of Change in Benefit Obligation, Plan Assets and the Funded Status of Nonpension Benefit Plans The benefit obligation and funded status for postretirement medical benefit plans are as follows:
20242023
Benefit obligation
Benefit obligation - beginning of year$93,487 $99,275 
Service cost369 367 
Interest cost4,479 5,031 
Net actuarial gain(5,603)(206)
Foreign currency changes(633)214 
Benefits paid, net(12,452)(11,194)
Benefit obligation - end of year (1)
$79,647 $93,487 
Fair value of plan assets
Fair value of plan assets - beginning of year$— $— 
Company contribution12,452 11,194 
Benefits paid, net(12,452)(11,194)
Fair value of plan assets - end of year$— $— 
Amounts recognized in the Consolidated Balance Sheets
Current liability$(9,257)$(10,265)
Noncurrent liability
(70,390)(83,222)
Funded status$(79,647)$(93,487)
(1)    Includes a benefit obligation for the U.S. postretirement plan of $73 million and $84 million at December 31, 2024 and 2023, respectively.

Pretax amounts recognized in AOCL consist of:
20242023
Net actuarial gain
$(18,511)$(14,360)
Summary of Expected Benefit Payments
The following benefit payments, which reflect expected future service, are expected to be paid.
Pension BenefitsPostretirement Medical Benefits
2025$124,481 $9,525 
2026119,776 9,115 
2027118,061 8,648 
2028116,601 8,211 
2029114,773 7,751 
Thereafter538,158 32,039 
$1,131,850 $75,289