Acquisitions/Transferred Assets

  
Changes in the postretirement benefit obligation and plan assets, as applicable, are detailed in the following table:

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|   | U.S. Plans |  | Non-U.S. Plans |  | Postretirement Benefits |
| (DOLLARS IN MILLIONS) | 2021 |  | 2020 |  | 2021 |  | 2020 |  | 2021 |  | 2020 |
| Benefit obligation at beginning of year | $ | 682  |  |  | $ | 621  |  |  | $ | 1,294  |  |  | $ | 1,099  |  |  | $ | 69  |  |  | $ | 64  |  |
| Service cost for benefits earned | 1  |  |  | 1  |  |  | 42  |  |  | 24  |  |  | 1  |  |  | 1  |  |
| Interest cost on projected benefit obligation | 12  |  |  | 17  |  |  | 10  |  |  | 13  |  |  | 1  |  |  | 2  |  |
| Actuarial (gain) loss  | (5) |  |  | 77  |  |  | (146) |  |  | 109  |  |  | (4) |  |  | 5  |  |
| Plan amendments | —  |  |  | —  |  |  | (2) |  |  | —  |  |  | —  |  |  | —  |  |
| Adjustments for expense/tax contained in service cost | —  |  |  | —  |  |  | (2) |  |  | (1) |  |  | —  |  |  | —  |  |
| Plan participants’ contributions | —  |  |  | —  |  |  | 4  |  |  | 3  |  |  | —  |  |  | —  |  |
| Benefits paid | (37) |  |  | (34) |  |  | (34) |  |  | (28) |  |  | (4) |  |  | (3) |  |
| Curtailments / settlements | —  |  |  | —  |  |  | (39) |  |  | (11) |  |  | —  |  |  | —  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |
| Translation adjustments | —  |  |  | —  |  |  | (93) |  |  | 86  |  |  | —  |  |  | —  |  |
| Acquisitions/Transferred Liabilities | —  |  |  | —  |  |  | 465  |  |  | —  |  |  | 3  |  |  | —  |  |
| Other | 9  |  |  | —  |  |  | 2  |  |  | —  |  |  | —  |  |  | —  |  |
| Benefit obligation at end of year | $ | 662  |  |  | $ | 682  |  |  | $ | 1,501  |  |  | $ | 1,294  |  |  | $ | 66  |  |  | $ | 69  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |
| Fair value of plan assets at beginning of year | $ | 678  |  |  | $ | 602  |  |  | $ | 1,145  |  |  | $ | 1,005  |  |  |  |  |  |
| Actual return on plan assets | 3  |  |  | 106  |  |  | 25  |  |  | 84  |  |  |  |  |  |
| Employer contributions | 5  |  |  | 4  |  |  | 32  |  |  | 20  |  |  |  |  |  |
| Participants’ contributions | —  |  |  | —  |  |  | 4  |  |  | 3  |  |  |  |  |  |
| Benefits paid | (37) |  |  | (34) |  |  | (34) |  |  | (28) |  |  |  |  |  |
| Settlements | —  |  |  | —  |  |  | (24) |  |  | (11) |  |  |  |  |  |
| Translation adjustments | —  |  |  | —  |  |  | (74) |  |  | 70  |  |  |  |  |  |
| Acquisitions/Transferred Assets | —  |  |  | —  |  |  | 247  |  |  | —  |  |  |  |  |  |
| Other | —  |  |  | —  |  |  | (1) |  |  | 2  |  |  |  |  |  |
| Fair value of plan assets at end of year | $ | 649  |  |  | $ | 678  |  |  | $ | 1,320  |  |  | $ | 1,145  |  |  |  |  |  |
| Funded status at end of year | $ | (13) |  |  | $ | (4) |  |  | $ | (181) |  |  | $ | (149) |  |  |  |  |  |

The amounts recognized in the balance sheet are detailed in the following table:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | U.S. Plans |  | Non-U.S. Plans |
| (DOLLARS IN MILLIONS) | 2021 |  | 2020 |  | 2021 |  | 2020 |
| Other assets | $ | 53  |  |  | $ | 54  |  |  | $ | 83  |  |  | $ | 47  |  |
| Other current liabilities | (5) |  |  | (4) |  |  | (2) |  |  | (1) |  |
| Retirement liabilities | (61) |  |  | (54) |  |  | (262) |  |  | (195) |  |
| Net amount recognized | $ | (13) |  |  | $ | (4) |  |  | $ | (181) |  |  | $ | (149) |  |

The amounts recognized in AOCI are detailed in the following table:

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
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|  | U.S. Plans |  | Non-U.S. Plans |  | Postretirement Benefits |
| (DOLLARS IN MILLIONS) | 2021 |  | 2020 |  | 2021 |  | 2020 |  | 2021 |  | 2020 |
| Net actuarial loss | $ | 137  |  |  | $ | 134  |  |  | $ | 291  |  |  | $ | 454  |  |  | $ | 14  |  |  | $ | 19  |  |
| Prior service cost (credit) | —  |  |  | —  |  |  | (3) |  |  | (2) |  |  | (15) |  |  | (21) |  |
| Total AOCI (before tax effects) | $ | 137  |  |  | $ | 134  |  |  | $ | 288  |  |  | $ | 452  |  |  | $ | (1) |  |  | $ | (2) |  |

 92
