Annual report pursuant to Section 13 and 15(d)

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

v3.24.0.1
PENSION AND OTHER POSTRETIREMENT BENEFITS - Obligations and Funded Status (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Amounts recognized in Statements of Financial Position:      
Pension and OPEB assets $ 329 $ 356  
Non-current liabilities (821) (1,058)  
Amounts recognized in accumulated other comprehensive loss (income):      
Accumulated benefit obligation 4,557 4,628  
Pension Benefits      
Change in benefit obligations:      
Benefit obligations — beginning of year 4,646 6,036  
Service cost 31 45 $ 56
Interest cost 235 144 103
Plan amendments 3 122  
Actuarial loss (gain) 116 (1,236)  
Benefits paid (436) (431)  
Participant contributions 0 0  
Effect of settlement (24) (34)  
Other 0 0  
Benefit obligations — end of year 4,571 4,646 6,036
Change in plan assets:      
Fair value of plan assets — beginning of year 4,338 5,606  
Actual return on plan assets 375 (809)  
Participant contributions 0 0  
Employer contributions 29 6  
Benefits paid (436) (431)  
Effect of settlement (24) (34)  
Fair value of plan assets — end of year 4,282 4,338 5,606
Funded status (289) (308)  
Amounts recognized in Statements of Financial Position:      
Pension and OPEB assets 137 195  
Current liabilities (18) (30)  
Non-current liabilities (408) (473)  
Total amount recognized (289) (308)  
Amounts recognized in accumulated other comprehensive loss (income):      
Net actuarial gain (304) (361)  
Prior service cost (credit) 106 121  
Net amount recognized (198) (240)  
OPEB      
Change in benefit obligations:      
Benefit obligations — beginning of year 1,233 3,254  
Service cost 10 35 51
Interest cost 64 72 74
Plan amendments 8 (163)  
Actuarial loss (gain) (158) (1,781)  
Benefits paid (163) (232)  
Participant contributions 42 47  
Effect of settlement 0 0  
Other 0 1  
Benefit obligations — end of year 1,036 1,233 3,254
Change in plan assets:      
Fair value of plan assets — beginning of year 728 812  
Actual return on plan assets 67 (97)  
Participant contributions 42 47  
Employer contributions 65 198  
Benefits paid (163) (232)  
Effect of settlement 0 0  
Fair value of plan assets — end of year 739 728 $ 812
Funded status (297) (505)  
Amounts recognized in Statements of Financial Position:      
Pension and OPEB assets 192 161  
Current liabilities (76) (81)  
Non-current liabilities (413) (585)  
Total amount recognized (297) (505)  
Amounts recognized in accumulated other comprehensive loss (income):      
Net actuarial gain (2,033) (1,996)  
Prior service cost (credit) (131) (156)  
Net amount recognized $ (2,164) $ (2,152)