Defined Benefit Postretirement Plans and Defined Contribution Plan (Tables)

12 Months Ended

Dec. 31, 2017

Summary Of Defined Benefit Pension Plans With Accumulated Benefit Obligations

Obligations and funded status – The following summarizes the obligations and funded status for our defined benefit pension and other postretirement plans.



	Pension Benefits												Other Benefits
	2017						2016						2017			2016
(In millions)	U.S.			Int’l			U.S.			Int’l			U.S.			U.S.
Accumulated benefit obligation	378			599			386			583			221			227
Change in benefit obligations:
Beginning balance	$	397		$	583		$	525		$	579		$	227		$	260
Service cost	22			—			25			—			2			2
Interest cost	13			17			16			23			8			11
Plan amendment	—			—			—			1			—			(38		)
Actuarial loss (gain)	42			(7		)	78			139			5			11
Foreign currency exchange rate changes	—			52			—			(108		)	—			—
Divestiture	—			—			—			—			—			—
Settlements paid	(84		)	(31		)	(240		)	(36		)	—			—
Benefits paid	(6		)	(15		)	(7		)	(15		)	(21		)	(19		)
Ending balance	$	384		$	599		$	397		$	583		$	221		$	227
Change in fair value of plan assets:
Beginning balance	$	227		$	595		$	354		$	608		$	—		$	—
Actual return on plan assets	27			47			25			129			—			—
Employer contributions	52			17			95			18			21			20
Foreign currency exchange rate changes	—			57			—			(109		)	—			—
Divestiture	—			—			—			—			—			—
Settlements paid	(84		)	(31		)	(240		)	(36		)	—			—
Benefits paid	(6		)	(15		)	(7		)	(15		)	(21		)	(20		)
Ending balance	$	216		$	670		$	227		$	595		$	—		$	—
Funded status of plans at December 31	$	(168	)	$	71		$	(170	)	$	12		$	(221	)	$	(227	)
Amounts recognized in the consolidated balance sheets:
Noncurrent assets	—			71			—			12			—			—
Current liabilities	(6		)	—			(4		)	—			(21		)	(21		)
Noncurrent liabilities	(162		)	—			(166		)	—			(200		)	(206		)
Accrued benefit cost	$	(168	)	$	71		$	(170	)	$	12		$	(221	)	$	(227	)
Pretax amounts in accumulated other comprehensive loss:
Net loss (gain)	$	122		$	58		$	130		$	81		$	30		$	25
Prior service cost (credit)	(45		)	3			(55		)	4			(56		)	(63		)

Schedule Of Net Periodic Benefit Cost And Other Comprehensive Income

Components of net periodic benefit cost from continuing operations and other comprehensive (income) loss – The following summarizes the net periodic benefit costs and the amounts recognized as other comprehensive (income) loss for our defined benefit pension and other postretirement plans.



	Pension Benefits																		Other Benefits
	Year Ended December 31,																		Year Ended December 31,
	2017						2016						2015						2017			2016			2015
(In millions)	U.S.			Int’l			U.S.			Int’l			U.S.			Int’l			U.S.			U.S.			U.S.
Components of net periodic benefit cost:
Service cost	$	22		$	—		$	25		$	—		$	29		$	14		$	2		$	2		$	3
Interest cost	13			17			16			23			25			25			8			11			11
Expected return on plan assets	(13		)	(30		)	(18		)	(35		)	(30		)	(37		)	—			—			—
Amortization:
- prior service cost (credit)	(10		)	—			(10		)	1			(7		)	1			(7		)	(3		)	(4		)
- actuarial loss	8			1			14			—			22			2			—			—			1
Net curtailment loss (gain)^(a)	—			—			—			—			(5		)	4			—			—			(7		)
Net settlement loss^(b)	28			4			97			6			119			—			—			—			—
Net periodic benefit cost^(c)	$	48		$	(8	)	$	124		$	(5	)	$	153		$	9		$	3		$	10		$	4
Other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss (pretax):
Actuarial loss (gain)	$	28		$	(26	)	$	70		$	41		$	30		$	(25	)	$	5		$	11		$	(21	)
Amortization of actuarial gain (loss)	(36		)	(4		)	(111		)	(6		)	(134		)	(2		)	—			—			(1		)
Prior service cost (credit)	—			—			—			1			(89		)	1			—			(38		)	—
Amortization of prior service credit (cost)	10			—			10			(1		)	7			(5		)	7			3			13
Total recognized in other comprehensive (income) loss	$	2		$	(30	)	$	(31	)	$	35		$	(186	)	$	(31	)	$	12		$	(24	)	$	(9	)
Total recognized in net periodic benefit cost and other comprehensive (income) loss	$	50		$	(38	)	$	93		$	30		$	(33	)	$	(22	)	$	15		$	(14	)	$	(5	)


^(a)	Related to workforce reductions, which reduced the future expected years of service for employees participating in the plans and the impact of discontinuing accruals for future benefits under the U.K. pension plan effective December 31, 2015.


^(b)	Settlement losses are recorded when lump sum payments from a plan in a period exceed the plan’s total service and interest costs for the period.


^(c)	Net periodic benefit cost reflects a calculated market-related value of plan assets which recognizes changes in fair value over three years.

Schedule of Assumptions Used

Plan assumptions – The following summarizes the assumptions used to determine the benefit obligations at December 31, and net periodic benefit cost for the defined benefit pension and other postretirement plans for 2017, 2016 and 2015.



	Pension Benefits												Other Benefits
	2017				2016				2015				2017		2016		2015
(In millions)	U.S.		Int’l		U.S.		Int’l		U.S.		Int’l		U.S.		U.S.		U.S.
Weighted average assumptions used to determine benefit obligation:
Discount rate	3.55	%	2.50	%	4.02	%	2.70	%	4.04	%	3.90	%	3.54	%	3.98	%	4.36	%
Rate of compensation increase ^(a)	4.00	%	—		4.00	%	—		4.00	%	—		4.00	%	4.00	%	4.00	%
Weighted average assumptions used to determine net periodic benefit cost:
Discount rate	3.86	%	2.70	%	3.66	%	3.90	%	3.79	%	3.70	%	3.98	%	4.36	%	3.93	%
Expected long-term return on plan assets	6.50	%	4.50	%	6.75	%	5.50	%	6.75	%	5.70	%	—		—		—
Rate of compensation increase ^(a)	4.00	%	—		4.00	%	—	%	4.00	%	3.60	%	4.00	%	4.00	%	4.00	%


^(a)	No future benefits will be incurred for the U.K. plan after December 31, 2015. Therefore, rate of compensation increase is no longer applicable to this plan.

Schedule of Health Care Cost Trend Rates

Assumed weighted average health care cost trend rates



	2017		2016		2015
Initial health care trend rate	8.00	%	8.25	%	8.00	%
Ultimate trend rate	4.70	%	4.50	%	4.50	%
Year ultimate trend rate is reached	2025		2025		2024

Fair Value of Defined Benefit Pension Plans Assets

The following tables present the fair values of our defined benefit pension plan's assets, by level within the fair value hierarchy, as of December 31, 2017 and 2016.



	December 31, 2017
(In millions)	Level 1				Level 2				Level 3				Total
	U.S.		Int’l		U.S.		Int’l		U.S.		Int’l		U.S.		Int’l
Cash and cash equivalents	$	6	$	1	$	—	$	—	$	—	$	—	$	6	$	1
Equity securities:
Common stock	81		—		—		—		—		—		81		—
Private equity	—		—		—		—		16		—		16		—
Mutual and pooled funds	—		151		—		115		—		—		—		266
Fixed income securities:
Corporate	—		—		6		—		—		—		6		—
Exchange traded funds	5		—		—		—		—		—		5		—
Government	19		—		2		—		3		—		24		—
Pooled funds	—		—		—		403		—		—		—		403
Other	—		—		—		—		19		—		19		—
Total investments, at fair value	111		152		8		518		38		—		157		670
Commingled funds ^(a)	—		—		—		—		—		—		59		—
Total investments	$	111	$	152	$	8	$	518	$	38	$	—	$	216	$	670



	December 31, 2016
(In millions)	Level 1				Level 2				Level 3				Total
	U.S.		Int’l		U.S.		Int’l		U.S.		Int’l		U.S.		Int’l
Cash and cash equivalents	$	8	$	5	$	—	$	—	$	—	$	—	$	8	$	5
Equity securities:
Common stock	82		—		—		—		—		—		82		—
Private equity	—		—		—		—		20		—		20		—
Mutual and pooled funds	—		201		—		159		—		—		—		360
Fixed income securities:
Corporate	—		—		52		—		—		—		52		—
Exchange traded funds	5		—		—		—		—		—		5		—
Government	6		—		19		—		—		—		25		—
Pooled funds	—		—		—		230		—		—		—		230
Other	—		—		—		—		21		—		21		—
Total investments, at fair value	101		206		71		389		41		—		213		595
Commingled funds ^(a)	—		—		—		—		—		—		14		—
Total investments	$	101	$	206	$	71	$	389	$	41	$	—	$	227	$	595


^(a)	After the adoption of the FASB update for the fair value hierarchy, we separately report the investments for which fair value was measured using the net asset value per share as a practical expedient. Amounts presented in this table are intended to reconcile the fair value hierarchy to the pension plan assets. See Note 2 for further information on the FASB update.

Schedule of Expected Benefit Payments

Estimated future benefit payments – The following gross benefit payments, which were estimated based on actuarial assumptions applied at December 31, 2017 and reflect expected future services, as appropriate, are to be paid in the years indicated.



	Pension Benefits				Other Benefits
(In millions)	U.S.		Int’l		U.S.
2018	$	43	$	17	$	21
2019	40		18		20
2020	37		17		20
2021	33		19		19
2022	30		21		18
2023 through 2027	123		118		74