XML 123 R110.htm IDEA: XBRL DOCUMENT v3.24.0.1
RETIREMENT BENEFIT PLANS - Benefit Obligation and Plan Assets (Details)
$ in Millions
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Change in plan assets:      
Funded status $ (103) $ (163)  
Amounts in the Consolidated Balance Sheets consist of:      
Non-current liabilities $ (146) (129)  
Amounts in accumulated other comprehensive loss consist of:      
Weighted average discount rate 0.0070    
Other postemployment benefits      
Change in projected benefit obligation:      
Projected benefit obligation, January 1 $ 37 54  
Service cost 0 0 $ 0
Interest cost 2 1 1
Plan amendments 0 0  
Settlement and curtailment 0 0  
Actuarial loss (gain) 0 (13)  
Currency translation 0 0  
Acquisition 0 0  
PHINIA spin-off (1) 0  
Benefits paid (5) (5)  
Projected benefit obligation, December 31 33 37 54
Change in plan assets:      
Funded status (33) (37)  
Amounts in the Consolidated Balance Sheets consist of:      
Non-current assets 0 0  
Current liabilities (5) (6)  
Non-current liabilities (28) (31)  
Net amount (33) (37)  
Amounts in accumulated other comprehensive loss consist of:      
Net actuarial loss (3) (3)  
Net prior service (credit) cost (8) (11)  
Net amount (11) (14)  
United States      
Change in plan assets:      
Funded status (8) (6)  
United States | Pension benefits      
Change in projected benefit obligation:      
Projected benefit obligation, January 1 136 183  
Service cost 0 0 0
Interest cost 7 4 3
Plan amendments 0 0  
Settlement and curtailment 0 (6)  
Actuarial loss (gain) 2 (33)  
Currency translation 0 0  
Acquisition 0 0  
PHINIA spin-off 0 0  
Benefits paid (14) (12)  
Projected benefit obligation, December 31 131 136 183
Change in plan assets:      
Fair value, beginning balance 129 177  
Actual return on plan assets 7 (33)  
Employer contribution 1 2  
Plan participants’ contribution 0 0  
Settlements 0 (5)  
Currency translation 0 0  
Acquisition 0 0  
PHINIA spin-off 0 0  
Benefits paid (14) (12)  
Fair value, ending balance 123 129 177
Funded status (8) (7)  
Amounts in the Consolidated Balance Sheets consist of:      
Non-current assets 0 0  
Current liabilities (1) (1)  
Non-current liabilities (7) (6)  
Net amount (8) (7)  
Amounts in accumulated other comprehensive loss consist of:      
Net actuarial loss 77 80  
Net prior service (credit) cost (2) (3)  
Net amount 75 77  
Total accumulated benefit obligation for all plans 131 136  
Non-U.S. | Pension benefits      
Change in projected benefit obligation:      
Projected benefit obligation, January 1 1,322 2,227  
Service cost 11 20 25
Interest cost 42 37 30
Plan amendments 0 (11)  
Settlement and curtailment 3 (3)  
Actuarial loss (gain) 25 (685)  
Currency translation 57 (200)  
Acquisition 0 8  
PHINIA spin-off (938) 0  
Benefits paid (44) (71)  
Projected benefit obligation, December 31 478 1,322 2,227
Change in plan assets:      
Fair value, beginning balance 1,156 2,049  
Actual return on plan assets 50 (655)  
Employer contribution 20 20  
Plan participants’ contribution 1 0  
Settlements (3) (4)  
Currency translation 53 (189)  
Acquisition 0 6  
PHINIA spin-off (841) 0  
Benefits paid (44) (71)  
Fair value, ending balance 392 1,156 $ 2,049
Funded status (86) (166)  
Amounts in the Consolidated Balance Sheets consist of:      
Non-current assets 30 26  
Current liabilities (5) (6)  
Non-current liabilities (111) (186)  
Net amount (86) (166)  
Amounts in accumulated other comprehensive loss consist of:      
Net actuarial loss 112 104  
Net prior service (credit) cost 1 (9)  
Net amount 113 95  
Total accumulated benefit obligation for all plans $ 450 $ 1,279