Annual report pursuant to Section 13 and 15(d)

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 1) -Obligations, Assets and Funded Status

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PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 1) -Obligations, Assets and Funded Status
$ in Millions
12 Months Ended
Dec. 31, 2023
USD ($)
country
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Amounts recognized in consolidated balance sheets      
Pension assets $ 1,197 $ 1,398  
Liability, Defined Benefit Pension Plan, Noncurrent (530) (445)  
UNITED STATES      
Change in benefit obligation      
Benefit obligation at the beginning of the year 3,171 3,012  
Service cost 117 137 $ 139
Interest cost 168 101 79
Actuarial loss (gain) 172 (643)  
Benefits paid directly by employer or from fund (223) (200)  
Plan amendment 1 3  
Assumption of Meritor's benefit obligation 0 786  
Benefit obligation at the end of the year 3,381 3,171 3,012
Change in plan assets      
Fair value of plan assets at the beginning of the year 3,828 3,548  
Actual return on plan assets 221 (244)  
Employer contributions 0 25  
Benefits paid from Fund (223) (200)  
Defined Benefit Plan, Plan Assets, Business Combination 0 699  
Exchange rate changes 0 0  
Fair value of plan assets at the end of the year 3,826 3,828 3,548
Funded status      
Funded status at end of year 445 657  
Amounts recognized in consolidated balance sheets      
Pension assets 1,002 1,126  
Accrued compensation, benefits and retirement costs (27) (24)  
Liability, Defined Benefit Pension Plan, Noncurrent (530) (445)  
Net amount recognized 445 657  
Amounts recognized in accumulated other comprehensive loss consist of:      
Net actuarial loss (gain) 493 273  
Prior service cost (credit) 8 8  
Net amount recognized 501 281  
UNITED STATES | Nonqualified Plan      
Change in benefit obligation      
Benefits paid directly by employer or from fund (25) (25)  
UNITED KINGDOM      
Change in benefit obligation      
Benefit obligation at the beginning of the year 1,398 1,887  
Service cost 17 30 33
Interest cost 70 39 30
Actuarial loss (gain) 47 (702)  
Benefits paid directly by employer or from fund (87) (70)  
Plan amendment 0 0  
Assumption of Meritor's benefit obligation 0 418  
Exchange rate changes 80 (204)  
Benefit obligation at the end of the year 1,525 1,398 1,887
Change in plan assets      
Fair value of plan assets at the beginning of the year 1,670 2,390  
Actual return on plan assets (51) (960)  
Employer contributions 90 3  
Benefits paid from Fund (87) (70)  
Defined Benefit Plan, Plan Assets, Business Combination 0 565  
Exchange rate changes 98 (258)  
Fair value of plan assets at the end of the year 1,720 1,670 2,390
Funded status      
Funded status at end of year 195 272  
Amounts recognized in consolidated balance sheets      
Pension assets 195 272  
Accrued compensation, benefits and retirement costs 0 0  
Liability, Defined Benefit Pension Plan, Noncurrent 0 0  
Net amount recognized 195 272  
Amounts recognized in accumulated other comprehensive loss consist of:      
Net actuarial loss (gain) 606 402  
Prior service cost (credit) 8 10  
Net amount recognized 614 412  
Other Pension Plan      
Change in plan assets      
Employer contributions $ 16 12  
Less Significant Defined Benefit or Other Postretirement Plans Applicable to Number of Countries | country 15    
Maximum Percentage of Defined Benefit Plans Assets Included in Other Liabilities and Deferred Revenue 5.00%    
Maximum Percentage of Defined Benefit Plans, Obligations Included in Other Liabilities and Deferred Revenue 6.00%    
Other Postretirement Benefit Plan      
Change in benefit obligation      
Benefit obligation at the beginning of the year $ 162 192  
Interest cost 9 5 5
Plan participants' contributions 18 4  
Actuarial loss (gain) (2) (25)  
Benefits paid directly by employer or from fund (37) (36)  
Assumption of Meritor's benefit obligation 0 22  
Benefit obligation at the end of the year $ 150 $ 162 $ 192
Change in plan assets      
Less Significant Defined Benefit or Other Postretirement Plans Applicable to Number of Countries | country 5    
Maximum Percentage of Defined Benefit Plans, Obligations Included in Other Liabilities and Deferred Revenue 16.00% 14.00%  
Funded status      
Funded status at end of year $ (150) $ (162)  
Amounts recognized in consolidated balance sheets      
Accrued compensation, benefits and retirement costs (19) (21)  
Liability, Other Postretirement Defined Benefit Plan, Noncurrent (131) (141)  
Net amount recognized (150) (162)  
Amounts recognized in accumulated other comprehensive loss consist of:      
Net actuarial loss (gain) (44) (44)  
Prior service cost (credit) (3) (3)  
Net amount recognized $ (47) $ (47)