RETIREMENT BENEFIT PLANS - Retirement Benefits Expense (Details) - USD ($) $ in Millions |
3 Months Ended | |
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Mar. 31, 2025 |
Mar. 31, 2024 |
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Pension plans | UNITED STATES | ||
Retirement benefits plans expense (income) | ||
Service cost | $ 4 | $ 5 |
Interest cost | 34 | 33 |
Expected return on plan assets | (48) | (47) |
Amortization | 4 | 2 |
Total | (6) | (7) |
Settlements | 9 | 9 |
Total expense (income) | 3 | 1 |
Pension plans | Non-United States plans | ||
Retirement benefits plans expense (income) | ||
Service cost | 11 | 12 |
Interest cost | 21 | 21 |
Expected return on plan assets | (31) | (33) |
Amortization | 4 | 3 |
Total | 5 | 3 |
Settlements | 2 | 1 |
Total expense (income) | 7 | 4 |
Other postretirement benefits expense (income) | ||
Retirement benefits plans expense (income) | ||
Service cost | 0 | 0 |
Interest cost | 2 | 2 |
Expected return on plan assets | 0 | 0 |
Amortization | (3) | (3) |
Total | (1) | (1) |
Settlements | 0 | 0 |
Total expense (income) | $ (1) | $ (1) |
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- Definition Total Benefit Plans. No definition available.
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- Definition Amount of gain (loss) recognized in net periodic benefit (cost) credit of defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of expected return (loss) recognized in net periodic benefit (cost) credit, calculated based on expected long-term rate of return and market-related value of plan assets of defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of cost recognized for passage of time related to defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of net periodic benefit cost (credit) for defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of gain (loss) recognized in net periodic benefit (cost) credit from settlement and curtailment. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of cost for actuarial present value of benefits attributed to service rendered by employee for defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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