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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2021
Changes in Projected Benefit Obligations, Plan Assets and Funded Status
The following table sets forth the changes in projected benefit obligations (“PBO”), plan assets, the funded status and the amounts recognized on the accompanying consolidated balance sheet for the Company’s defined benefit pension and other postretirement benefit plans:
Defined Benefit Pension Plans
 United States International Total PPG
($ in millions)202120202021202020212020
Projected benefit obligation, January 1$2,042 $1,842 $1,933 $1,719 $3,975 $3,561 
Service cost— 13 9 11 9 24 
Interest cost39 54 26 33 65 87 
Actuarial (gains)/losses - net(72)251 (91)165 (163)416 
Benefits paid(89)(133)(60)(60)(149)(193)
Acquisitions— — 48 — 48 — 
Foreign currency translation adjustments— — (51)87 (51)87 
Settlements and curtailments— 13 (198)(19)(198)(6)
Other— 2 (2)(3)(2)(1)
Projected benefit obligation, December 31$1,920 $2,042 $1,614 $1,933 $3,534 $3,975 
Market value of plan assets, January 1$1,335 $1,304 $1,881 $1,661 $3,216 $2,965 
Actual return on plan assets66 144 42 198 108 342 
Company contributions— — 10 17 10 17 
Benefits paid(72)(113)(51)(51)(123)(164)
Acquisitions— — 3 — 3 — 
Plan settlements— — (198)(19)(198)(19)
Foreign currency translation adjustments— — (38)78 (38)78 
Other— — (3)(3)(3)(3)
Market value of plan assets, December 31$1,329 $1,335 $1,646 $1,881 $2,975 $3,216 
Funded Status($591)($707)$32 ($52)($559)($759)
Amounts recognized in the Consolidated Balance Sheet:
Other assets (long-term)— — 310 218 310 218 
Accounts payable and accrued liabilities(23)(23)(12)(9)(35)(32)
Accrued pensions(568)(684)(266)(261)(834)(945)
Net (liability)/asset recognized($591)($707)$32 ($52)($559)($759)
Other Postretirement Benefit Plans
 United States InternationalTotal PPG
($ in millions)202120202021202020212020
Projected benefit obligation, January 1$682 $616 $104 $96 $786 $712 
Service cost11 9 1 1 12 10 
Interest cost12 17 2 3 14 20 
Plan amendments— 4 — — — 4 
Actuarial (gains)/losses - net(33)75 (10)7 (43)82 
Benefits paid(41)(39)(4)(5)(45)(44)
Foreign currency translation adjustments— — — 2 — 2 
Projected benefit obligation, December 31$631 $682 $93 $104 $724 $786 
Amounts recognized in the Consolidated Balance Sheet:
Accounts payable and accrued liabilities(47)(48)(5)(5)(52)(53)
Other postretirement benefits(584)(634)(88)(99)(672)(733)
Net liability recognized($631)($682)($93)($104)($724)($786)
The PBO is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated future pay increases. The accumulated benefit obligation (“ABO”) is the actuarial present value of benefits attributable to employee service rendered to date, but does not include the effects of estimated future pay increases. The ABO for all defined benefit pension plans as of December 31, 2021 and 2020 was $3.5 billion and $3.8 billion, respectively.
The following table details the pension plans where the benefit liability exceeds the fair value of the plan assets:
 Pensions
($ in millions)20212020
Plans with PBO in Excess of Plan Assets:
Projected benefit obligation$2,232 $2,478 
Fair value of plan assets$1,366 $1,504 
Plans with ABO in Excess of Plan Assets:
Accumulated benefit obligation$2,197 $2,320 
Fair value of plan assets$1,362 $1,383 
Accumulated Other Comprehensive Loss Pretax Amounts Not Yet Reflected in Net Periodic Benefit Cost
PensionsOther Postretirement Benefits
($ in millions)2021202020212020
Accumulated net actuarial losses$857 $1,071 $170 $233 
Accumulated prior service cost/(credit)5 4 (21)(75)
Total$862 $1,075 $149 $158 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
The net decrease in Accumulated other comprehensive loss (pretax) in 2021 relating to defined benefit pension and other postretirement benefits is primarily attributable to pension and other postretirement plan discount rate increases, as follows:
($ in millions)PensionsOther Postretirement Benefits
Net actuarial gain arising during the year($119)($43)
New prior service cost1 — 
Amortization of actuarial loss(39)(20)
Amortization of prior service credit— 54 
Foreign currency translation adjustments(3)— 
Impact of settlements(53)— 
Net decrease($213)($9)
Net Periodic Benefit Cost
PensionsOther Postretirement Benefits
($ in millions)202120202019202120202019
Service cost$9 $24 $23 $12 $10 $8 
Interest cost65 87 105 14 20 26 
Expected return on plan assets(152)(144)(139)— — — 
Amortization of prior service credit— — — (54)(59)(57)
Amortization of actuarial losses39 71 62 20 15 8 
Settlements, curtailments, and special termination benefits53 18 3 — — — 
Net periodic benefit cost/(income)$14 $56 $54 ($8)($14)($15)
Schedule of Contributions to Defined benefit Plans
Contributions to defined benefit pension plans
($ in millions)202120202019
Non-U.S. defined benefit pension plans$10 $17 $13 
Schedule of Expected Benefit Payments
The estimated benefits expected to be paid under the Company’s defined benefit pension and other postretirement benefit plans are:
($ in millions)PensionsOther Postretirement Benefits
2022$155 $52 
2023$154 $50 
2024$158 $49 
2025$161 $48 
2026$162 $44 
2027 to 2031$839 $204 
Weighted Average Target Pension Plan Asset Allocations
The following summarizes the weighted average target pension plan asset allocation as of December 31, 2021 and 2020 for all PPG defined benefit plans:
Asset Category20212020
Equity securities15-45%15-45%
Debt securities30-65%30-65%
Real estate0-10%0-10%
Other20-40%20-40%
Fair Values of the Company's Pension Plan Assets by Asset Category
The fair values of the Company’s pension plan assets at December 31, 2021 and 2020, by asset category, are as follows:
December 31, 2021December 31, 2020
($ in millions)
Level 1(1)
Level 2(1)
Level 3(1)
Total
Level 1(1)
Level 2(1)
Level 3(1)
Total
Asset Category     
Equity securities:     
U.S.     
Large cap$79 $78 $— $157 $65 $94 $— $159 
Small cap48 — — 48 42 — — 42 
Non-U.S.        
Developed and emerging markets(2)
130 76 — 206 144 80 — 224 
Debt securities:        
Cash and cash equivalents8 42 — 50 5 10 — 15 
Corporate(3)
        
U.S.(4)
— 232 100 332 — 386 78 464 
Developed and emerging markets(2)
— 1 — 1 — 2 — 2 
Diversified(5)
— 57 — 57 — 126 — 126 
Government        
U.S.(4)
68 13 — 81 82 20 — 102 
Developed markets— 10 — 10 — 19 — 19 
Other(6)
— — 367 367 — — 421 421 
Real estate, hedge funds, and other— 562 487 1,049 — 515 417 932 
Total assets in the fair value hierarchy$333 $1,071 $954 $2,358 $338 $1,252 $916 $2,506 
Common-collective trusts(7)
— — — 617 — — — 710 
Total Investments$333 $1,071 $954 $2,975 $338 $1,252 $916 $3,216 
(1)These levels refer to the accounting guidance on fair value measurement described in Note 10, “Financial Instruments, Hedging Activities and Fair Value Measurements.”
(2)These amounts represent holdings in investment grade debt or equity securities of issuers in both developed markets and emerging economies.
(3)This category represents investment grade debt securities from a diverse set of industry issuers.
(4)These investments are primarily long duration fixed income securities.
(5)This category represents commingled funds invested in diverse portfolios of debt securities.
(6)This category includes mortgage-backed and asset backed debt securities, municipal bonds and other debt securities including derivatives.
(7)Certain investments that are measured at net asset value per share (or its equivalent) are not required to be classified in the fair value hierarchy.
Change in the Fair Value of the Company's Level 3 Pension Assets
The change in the fair value of the Company’s Level 3 pension assets for the years ended December 31, 2021 and 2020 was as follows:
($ in millions)Real EstateOther Debt SecuritiesHedge Funds and Other AssetsTotal
January 1, 2020
$123 $377 $335 $835 
Realized gains4 24 2 30 
Unrealized losses(5)— (2)(7)
Transfers in/(out), net1 (14)28 15 
Foreign currency gains1 34 8 43 
December 31, 2020$124 $421 $371 $916 
Realized gains/(losses)3 (11)9 1 
Unrealized gains22 — 8 30 
Transfers in/(out), net8 (14)44 38 
Foreign currency losses— (29)(2)(31)
December 31, 2021$157 $367 $430 $954 
Benefit Obligations  
Weighted Average Assumptions Used for the Defined Benefit Pension and Other Postretirement Plans
The following weighted average assumptions were used to determine the benefit obligation for the Company’s defined benefit pension and other postretirement plans as of December 31, 2021 and 2020:
United StatesInternationalTotal PPG
202120202021202020212020
Discount rate2.8 %2.4 %2.0 %1.6 %2.5 %2.1 %
Rate of compensation increase2.5 %2.5 %2.8 %1.1 %2.6 %1.5 %
Benefit Costs  
Weighted Average Assumptions Used for the Defined Benefit Pension and Other Postretirement Plans
The following weighted average assumptions were used to determine the net periodic benefit cost for the Company’s defined benefit pension and other postretirement benefit plans for the three years in the period ended December 31, 2021:
202120202019
Discount rate2.1 %2.8 %3.7 %
Expected return on assets4.8 %5.0 %5.4 %
Rate of compensation increase1.5 %2.6 %1.8 %