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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2022
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)202220212022202120222021
Projected benefit obligation, January 1$1,920 $2,042 $1,614 $1,933 $3,534 $3,975 
Service cost— — 9 9 9 9 
Interest cost45 39 28 26 73 65 
Actuarial gains(449)(72)(485)(91)(934)(163)
Benefits paid(91)(89)(49)(60)(140)(149)
Acquisitions— — — 48 — 48 
Foreign currency translation adjustments— — (126)(51)(126)(51)
Settlements and curtailments— — (22)(198)(22)(198)
Other— — (8)(2)(8)(2)
Projected benefit obligation, December 31$1,425 $1,920 $961 $1,614 $2,386 $3,534 
Market value of plan assets, January 1$1,329 $1,335 $1,646 $1,881 $2,975 $3,216 
Actual return on plan assets(228)66 (506)42 (734)108 
Company contributions— — 11 10 11 10 
Benefits paid(73)(72)(41)(51)(114)(123)
Acquisitions— — — 3 — 3 
Plan settlements— — (22)(198)(22)(198)
Foreign currency translation adjustments— — (140)(38)(140)(38)
Other— — (2)(3)(2)(3)
Market value of plan assets, December 31$1,028 $1,329 $946 $1,646 $1,974 $2,975 
Funded Status($397)($591)($15)$32 ($412)($559)
Amounts recognized in the Consolidated Balance Sheet:
Other assets (long-term)— — 183 310 183 310 
Accounts payable and accrued liabilities(17)(23)(12)(12)(29)(35)
Accrued pensions(380)(568)(186)(266)(566)(834)
Net (liability)/asset recognized($397)($591)($15)$32 ($412)($559)
Other Postretirement Benefit Plans
 United States InternationalTotal PPG
($ in millions)202220212022202120222021
Projected benefit obligation, January 1$631 $682 $93 $104 $724 $786 
Service cost8 11 — 1 8 12 
Interest cost13 12 3 2 16 14 
Actuarial gains(154)(33)(20)(10)(174)(43)
Benefits paid(40)(41)(4)(4)(44)(45)
Foreign currency translation adjustments— — (6)— (6)— 
Projected benefit obligation, December 31$458 $631 $66 $93 $524 $724 
Amounts recognized in the Consolidated Balance Sheet:
Accounts payable and accrued liabilities(44)(47)(4)(5)(48)(52)
Other postretirement benefits(414)(584)(62)(88)(476)(672)
Net liability recognized($458)($631)($66)($93)($524)($724)
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, 2022 and 2021 was $2.3 billion and $3.5 billion, respectively.
The following table details the pension plans where the benefit liability exceeds the fair value of the plan assets:
 Pensions
($ in millions)20222021
Plans with PBO in Excess of Plan Assets:
Projected benefit obligation$1,863 $2,232 
Fair value of plan assets$1,270 $1,366 
Plans with ABO in Excess of Plan Assets:
Accumulated benefit obligation$1,833 $2,197 
Fair value of plan assets$1,266 $1,362 
Accumulated Other Comprehensive Loss Pretax Amounts Not Yet Reflected in Net Periodic Benefit Cost
PensionsOther Postretirement Benefits
($ in millions)2022202120222021
Accumulated net actuarial losses/(gains)$748 $857 ($16)$170 
Accumulated prior service cost/(credit)— 5 (10)(21)
Total$748 $862 ($26)$149 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
The net decrease in Accumulated other comprehensive loss (pretax) in 2022 relating to defined benefit pension and other postretirement benefits is primarily attributable to pension and other postretirement plan discount rate increases, as follows:
($ in millions)PensionsOther Postretirement Benefits
Net actuarial gain arising during the year($60)($174)
New prior service cost(5)— 
Amortization of actuarial loss(34)(12)
Amortization of prior service credit— 11 
Foreign currency translation adjustments(9)— 
Impact of settlements(6)— 
Net decrease($114)($175)
Net Periodic Benefit Cost
PensionsOther Postretirement Benefits
($ in millions)202220212020202220212020
Service cost$9 $9 $24 $8 $12 $10 
Interest cost73 65 87 16 14 20 
Expected return on plan assets(140)(152)(144)— — — 
Amortization of prior service credit— — — (11)(54)(59)
Amortization of actuarial losses34 39 71 12 20 15 
Settlements, curtailments, and special termination benefits6 53 18 — — — 
Net periodic benefit (income)/cost($18)$14 $56 $25 ($8)($14)
Schedule of Contributions to Defined benefit Plans
Contributions to defined benefit pension plans
($ in millions)202220212020
Non-U.S. defined benefit pension plans$11 $10 $17 
Schedule of Expected Benefit Payments
The estimated benefits expected to be paid under the Company’s defined benefit pension and other postretirement benefit plans are:
($ in millions)PensionsOther Postretirement Benefits
2023$148 $48 
2024$166 $47 
2025$153 $46 
2026$157 $43 
2027$160 $42 
2028 to 2032$825 $192 
Weighted Average Target Pension Plan Asset Allocations
The following summarizes the weighted average target pension plan asset allocation as of December 31, 2022 and 2021 for all PPG defined benefit plans:
Asset Category20222021
Equity securities15-45%15-45%
Debt securities30-65%30-65%
Real estate0-10%0-10%
Other20-40%20-40%
Fair Values of the Company's Pension Plan Assets by Asset Category
The fair values of the Company’s pension plan assets at December 31, 2022 and 2021, by asset category, are as follows:
December 31, 2022December 31, 2021
($ 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$66 $43 $— $109 $79 $78 $— $157 
Small cap25 — — 25 48 — — 48 
Non-U.S.        
Developed and emerging markets(2)
99 43 — 142 130 76 — 206 
Debt securities:        
Cash and cash equivalents7 47 — 54 8 42 — 50 
Corporate(3)
        
U.S.(4)
— 168 80 248 — 232 100 332 
Developed and emerging markets(2)
— 1 — 1 — 1 — 1 
Diversified(5)
— 13 — 13 — 57 — 57 
Government        
U.S.(4)
49 10 — 59 68 13 — 81 
Developed and emerging markets(2)
— 6 — 6 — 10 — 10 
Other(6)
— — 235 235 — — 367 367 
Real estate, hedge funds, and other— 275 362 637 — 562 487 1,049 
Total assets in the fair value hierarchy$246 $606 $677 $1,529 $333 $1,071 $954 $2,358 
Common-collective trusts(7)
— — — 445 — — — 617 
Total Investments$246 $606 $677 $1,974 $333 $1,071 $954 $2,975 
(1)These levels refer to the accounting guidance on fair value measurement described in Note 11, “Financial Instruments, Hedging Activities and Fair Value Measurements.”
(2)These amounts represent holdings in investment grade debt or equity securities of issuers in both developed markets and emerging economies.
(3)This category represents investment grade debt securities from a diverse set of industry issuers.
(4)These investments are primarily long duration fixed income securities.
(5)This category represents commingled funds invested in diverse portfolios of debt securities.
(6)This category includes mortgage-backed and asset backed debt securities, municipal bonds and other debt securities including derivatives.
(7)Certain investments that are measured at net asset value per share (or its equivalent) are not required to be classified in the fair value hierarchy.
Change in the Fair Value of the Company's Level 3 Pension Assets
The change in the fair value of the Company’s Level 3 pension assets for the years ended December 31, 2022 and 2021 was as follows:
($ in millions)Real EstateOther Debt SecuritiesHedge Funds and Other AssetsTotal
January 1, 2021
$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 
Realized gains/(losses)1 (99)(1)(99)
Unrealized gains/(losses)6 — (3)3 
Transfers out, net(10)(12)(100)(122)
Foreign currency losses(5)(21)(33)(59)
December 31, 2022$149 $235 $293 $677 
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, 2022 and 2021:
United StatesInternationalTotal PPG
202220212022202120222021
Discount rate5.4 %2.8 %4.9 %2.0 %5.2 %2.5 %
Rate of compensation increase2.5 %2.5 %3.1 %2.8 %2.7 %2.6 %
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, 2022:
202220212020
Discount rate2.5 %2.1 %2.8 %
Expected return on assets5.0 %4.8 %5.0 %
Rate of compensation increase2.6 %1.5 %2.6 %