Pension Plans (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Plan Disclosure [Line Items]

Schedule of defined benefit pension plans

	UK Pension Benefits						US Pension Benefits
	2014			2013			2014			2013
	(millions)
Change in benefit obligation:
Benefit obligation, beginning of year	$	2,785		$	2,582		$	864		$	958
Service cost	41			37			—			—
Interest cost	121			109			40			38
Employee contributions	2			2			—			—
Actuarial loss (gain)	390			79			183			(81		)
Curtailment gain	(2		)	—			—			—
Benefits paid	(85		)	(78		)	(36		)	(51		)
Foreign currency changes	(168		)	54			—			—
Benefit obligations, end of year	3,084			2,785			1,051			864
Change in plan assets:
Fair value of plan assets, beginning of year	3,061			2,716			757			708
Actual return on plan assets	520			255			65			60
Employee contributions	2			2			—			—
Employer contributions	91			100			20			40
Benefits paid	(85		)	(78		)	(36		)	(51		)
Foreign currency changes	(191		)	66			—			—
Fair value of plan assets, end of year	3,398			3,061			806			757
Funded status at end of year	$	314		$	276		$	(245	)	$	(107	)
Components on the Consolidated Balance Sheets:
Pension benefits asset	$	314		$	276		$	—		$	—
Liability for pension benefits	—			—			(245		)	(107		)

Amounts recognized in accumulated other comprehensive loss

	UK Pension Benefits						US Pension Benefits
	2014			2013			2014		2013
				(millions)
Net actuarial loss	$	809		$	815		$	399	$	233
Prior service gain	(20		)	(24		)	—		—

Components of the net periodic benefit cost and other amounts

	Years ended December 31,
	UK Pension Benefits									US Pension Benefits
	2014			2013			2012			2014			2013			2012
							(millions)
Components of net periodic benefit (income) cost:
Service cost	$	41		$	37		$	35		$	—		$	—		$	—
Interest cost	121			109			108			40			38			41
Expected return on plan assets	(213		)	(191		)	(181		)	(54		)	(51		)	(46		)
Amortization of unrecognized prior service gain and curtailment gain	(4		)	(5		)	(6		)	—			—			—
Amortization of unrecognized actuarial loss	42			45			39			6			9			8
Net periodic benefit (income) cost	$	(13	)	$	(5	)	$	(5	)	$	(8	)	$	(4	)	$	3
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net actuarial loss (gain)	$	83		$	15		$	141		$	172		$	(90	)	$	37
Amortization of unrecognized actuarial loss	(42		)	(45		)	(39		)	(6		)	(9		)	(8		)
Amortization of unrecognized prior service gain and curtailment gain	4			5			6			—			—			—
Curtailment gain	(2		)	—			—			—			—			—
Total recognized in other comprehensive income (loss)	$	43		$	(25	)	$	108		$	166		$	(99	)	$	29
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	30		$	(30	)	$	103		$	158		$	(103	)	$	32

Estimated net loss and prior service cost to be amortized from accumulated other comprehensive loss into net periodic benefit cost

	UK Pension Benefits			US Pension Benefits
	(millions)
Estimated net loss	$	39		$	11
Prior service gain	(3		)	—

Schedule of other information concerning defined benefit pension plans

	Years ended December 31,
	UK Pension Benefits				US Pension Benefits
	2014		2013		2014		2013
Weighted-average assumptions to determine benefit obligations:
Discount rate	3.6	%	4.4	%	3.9	%	4.8	%
Rate of compensation increase	2.9	%	3.2	%	N/A		N/A
Weighted-average assumptions to determine net periodic benefit cost:
Discount rate	4.4	%	4.4	%	4.8	%	4.1	%
Expected return on plan assets	7.0	%	7.3	%	7.3	%	7.3	%
Rate of compensation increase	3.2	%	2.3	%	N/A		N/A

Pension plan asset allocations based on fair values

	Years ended December 31,
	UK Pension Benefits				US Pension Benefits
Asset Category	2014		2013		2014		2013
Equity securities	34	%	36	%	48	%	52	%
Debt securities	45	%	38	%	49	%	46	%
Hedge funds	14	%	17	%	—	%	—	%
Real estate	3	%	3	%	—	%	—	%
Cash	4	%	6	%	—	%	—	%
Other	—	%	—	%	3	%	2	%
Total	100	%	100	%	100	%	100	%

Changes in the UK pension plan's Level 3 assets

	UK Pension
	Plan
	Level 3
	(millions)
Balance at January 1, 2013	$	507
Purchases, sales, issuances and settlements, net	121
Unrealized and realized gains relating to instruments still held at end of year	29
Foreign exchange	12
Balance at December 31, 2013	$	669
Purchases, sales, issuances and settlements, net	40
Unrealized and realized gains relating to instruments still held at end of year	24
Foreign exchange	(23		)
Balance at December 31, 2014	$	710

Expected future benefit payments

Expected future benefit payments	UK Pension Benefits	US Pension Benefits
	(millions)
2015	83	41
2016	84	43
2017	87	46
2018	89	49
2019	92	51
2019-2023	505	284

UK Pension Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of defined benefit pension plan assets fair value measured on a recurring basis

	UK Pension Plan
December 31, 2014	Level 1		Level 2			Level 3		Total
			(millions)
Equity securities:
US equities	$	565	$	185		$	—	$	750
UK equities	234		15			—		249
Other equities	26		124			—		150
Fixed income securities:
US Government bonds	81		2			—		83
UK Government bonds	783		6			—		789
Other Government bonds	3		3			99		105
UK corporate bonds	—		103			—		103
Other corporate bonds	113		33			—		146
Derivatives	—		293			—		293
Real estate	—		—			124		124
Cash and cash equivalents	124		13			—		137
Other investments:
Hedge funds	—		—			487		487
Other	—		(18		)	—		(18		)
Total	$	1,929	$	759		$	710	$	3,398

	UK Pension Plan
December 31, 2013	Level 1		Level 2		Level 3		Total
			(millions)
Equity securities:
US equities	$	659	$	81	$	—	$	740
UK equities	239		17		—		256
Other equities	40		63		—		103
Fixed income securities:
US Government bonds	31		—		—		31
UK Government bonds	656		—		—		656
Other Government bonds	7		—		100		107
UK corporate bonds	75		—		—		75
Other corporate bonds	151		—		—		151
Derivatives	—		154		—		154
Real estate	—		—		92		92
Cash and cash equivalents	163		—		—		163
Other investments:
Hedge funds	—		28		477		505
Other	—		28		—		28
Total	$	2,021	$	371	$	669	$	3,061

US Pension Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of defined benefit pension plan assets fair value measured on a recurring basis

	US Pension Plan
December 31, 2014	Level 1		Level 2		Level 3		Total
			(millions)
Equity securities:
US equities	$	115	$	117	$	—	$	232
Non US equities	110		44		—		154
Fixed income securities:
US Government bonds	—		72		—		72
US corporate bonds	—		171		—		171
International fixed income securities	59		42		—		101
Municipal & Non US government bonds	—		32		—		32
Other investments:
Mortgage backed securities	—		16		—		16
Other	20		8		—		28
Total	$	304	$	502	$	—	$	806

	US Pension Plan
December 31, 2013	Level 1		Level 2		Level 3		Total
			(millions)
Equity securities:
US equities	$	120	$	125	$	—	$	245
Non US equities	116		33		—		149
Fixed income securities:
US Government bonds	—		55		—		55
US corporate bonds	—		151		—		151
International fixed income securities	58		42		—		100
Municipal & Non US government bonds	—		30		—		30
Other investments:
Mortgage backed securities	—		12		—		12
Other	9		6		—		15
Total	$	303	$	454	$	—	$	757

International Pension Benefits [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of defined benefit pension plans

	Other defined benefit plans
	2014			2013
	(millions)
Change in benefit obligation:
Benefit obligation, beginning of year	$	195		$	180
Service cost	3			3
Interest cost	7			7
Actuarial loss (gain)	38			(5		)
Benefits paid	(9		)	(6		)
Reclassification from other non-current liabilities (i)	—			10
Foreign currency changes	(24		)	6
Benefit obligations, end of year	210			195
Change in plan assets:
Fair value of plan assets, beginning of year	168			150
Actual return on plan assets	25			9
Employer contributions	11			10
Benefits paid	(9		)	(6		)
Foreign currency changes	(24		)	5
Fair value of plan assets, end of year	171			168
Funded status at end of year	$	(39	)	$	(27	)
Components on the Consolidated Balance Sheets:
Pension benefits asset	$	—		$	2
Liability for pension benefits	$	(39	)	$	(29	)

_________________________________

⁽ⁱ⁾ Represents the transfer in of the benefit obligation for UK unfunded plan from non-current other liabilities.

Amounts recognized in accumulated other comprehensive loss

	Other defined benefit plans
	2014			2013			2012
	(millions)
Components of net periodic benefit cost:
Service cost	$	3		$	3		$	3
Interest cost	7			7			7
Expected return on plan assets	(6		)	(6		)	(6		)
Amortization of unrecognized actuarial loss	—			1			—
Net periodic benefit cost	$	4		$	5		$	4
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Amortization of unrecognized actuarial loss	$	—		$	(1	)	$	—
Net actuarial loss (gain)	19			(8		)	25
Total recognized in other comprehensive loss (income)	19			(9		)	25
Total recognized in net periodic benefit cost and other comprehensive loss (income)	$	23		$	(4	)	$	29

Schedule of other information concerning defined benefit pension plans

	Other defined benefit plans
	2014	2013
Weighted-average assumptions to determine benefit obligations:
Discount rate	2.00% - 3.60%	3.30% - 4.40%
Rate of compensation increase	2.00% - 3.50%	2.00% - 2.50%
Weighted-average assumptions to determine net periodic benefit cost:
Discount rate	3.30% - 4.40%	2.50% - 4.40%
Expected return on plan assets	2.00% - 4.66%	2.00% - 4.66%
Rate of compensation increase	2.00% - 2.50%	2.00% - 2.50%

Pension plan asset allocations based on fair values

	Other defined benefit plans
Asset Category	2014		2013
Equity securities	24	%	35	%
Debt securities	40	%	39	%
Real estate	3	%	3	%
Derivatives	13	%	14	%
Other	20	%	9	%
Total	100	%	100	%

	Other defined benefit plans
December 31, 2014	Level 1		Level 2		Level 3		Total
			(millions)
Equity securities:
US equities	$	18	$	—	$	—	$	18
UK equities	4		—		—		4
Overseas equities	18		—		—		18
Fixed income securities:
Other Government bonds	65		—		—		65
Corporate bonds	4		—		—		4
Derivative instruments	—		23		—		23
Real estate	—		—		6		6
Cash	11		—		—		11
Other investments:
Other investments	14		—		8		22
Total	$	134	$	23	$	14	$	171

	Other defined benefit plans
December 31, 2013	Level 1		Level 2		Level 3		Total
			(millions)
Equity securities:
US equities	$	29	$	—	$	—	$	29
UK equities	5		—		—		5
Overseas equities	26		—		—		26
Fixed income securities:
Other Government bonds	61		—		—		61
Corporate bonds	4		—		—		4
Derivative instruments	—		23		—		23
Real estate	—		—		5		5
Cash	8		—		—		8
Other investments:
Other investments	—		—		7		7
Total	$	133	$	23	$	12	$	168

Expected future benefit payments

	Other defined benefit plans
	Pension
Expected future benefit payments	Benefits
	(millions)
2015	$	5
2016	6
2017	6
2018	6
2019	6
2019-2023	32