Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2018

Reconciliation Of The Benefit Obligation

The reconciliation of the benefit obligation is as follows:



	Pension Benefits						Other Benefits
	2018			2017			2018			2017
Benefit obligation at beginning of year	$	1,872		$	1,825		$	524		$	565
Service cost	8			10			1			1
Interest cost	55			66			15			21
Actuarial (gain) loss	(70		)	104			(57		)	(39		)
Benefits paid	(122		)	(133		)	(52		)	(24		)
Benefit obligation at end of year	$	1,743		$	1,872		$	431		$	524

Changes In The Fair Value Of Plan Assets

The changes in the fair value of plan assets are as follows:



	Pension Benefits						Other Benefits
	2018			2017			2018			2017
Fair value of plan assets at beginning of year	$	2,012		$	1,888		$	356		$	332
Actual return on plan assets	(76		)	253			(17		)	41
Employer contributions	4			4			49			7
Benefits paid	(122		)	(133		)	(52		)	(24		)
Fair value of plan assets at end of year	$	1,818		$	2,012		$	336		$	356

Net Amount Included In Consolidated Balance Sheets

The net amount included in the consolidated balance sheets is as follows:



	Pension Benefits						Other Benefits
	2018			2017			2018			2017
Noncurrent assets	$	134		$	202		$	—		$	—
Current liabilities	(6		)	(5		)	—			—
Noncurrent liabilities	(53		)	(57		)	(95		)	(168		)
Net amount at December 31	$	75		$	140		$	(95	)	$	(168	)

Net Amounts Included In Accumulated Other Comprehensive Loss (Income) That Have Not Been Recognized As Components Of Net Periodic Benefit Costs

The net amounts included in accumulated other comprehensive loss that have not been recognized as components of net periodic benefit costs are as follows:



	Pension Benefits				Other Benefits
	2018		2017		2018			2017
Net actuarial loss	$	751	$	625	$	58		$	77
Prior service cost (credit)	1		1		(34		)	(46		)
Net amount before tax at December 31	$	752	$	626	$	24		$	31

Schedule Of Assumptions Used In Calculating The Benefit Obligations

The weighted-average assumptions used in calculating the benefit obligations for all plans are as follows:



	Pension Benefits				Other Benefits
	2018		2017		2018		2017
Discount rate	4.15	%	3.44	%	4.04	%	3.42	%
Rate of compensation increase	3.00	%	3.00	%	3.00	%	3.00	%
Expected rate of return on plan assets	7.44	%	7.83	%	7.00	%	7.00	%

Components Of Net Periodic Benefit Cost (Credit)

The components of net periodic benefit credit included in the consolidated statements of income are as follows:



	2018			2017			2016
Pension Benefits
Service cost	$	8		$	10		$	12
Interest cost	55			66			69
Expected return on assets	(147		)	(147		)	(147		)
Recognized actuarial loss	22			22			19
Amortization of prior service credit	—			—			(1		)
Settlement loss	5			7			7
Net periodic benefit credit	$	(57	)	$	(42	)	$	(41	)

Other Benefits
Service cost	$	1		$	1		$	2
Interest cost	15			21			22
Expected return on assets	(24		)	(23		)	(22		)
Recognized actuarial loss	3			11			12
Amortization of prior service credit	(12		)	(13		)	(14		)
Net periodic benefit credit	$	(17	)	$	(3	)	$	—

Weighted-Average Assumptions Used In Calculating The Benefit Obligations For All Plans

The weighted-average assumptions used in calculating the net periodic benefit cost for all plans are as follows:



	2018		2017		2016
Pension Benefits
Discount rate	3.44	%	3.77	%	3.92	%
Rate of compensation increase	3.00	%	3.00	%	3.00	%
Expected rate of return on plan assets	7.83	%	7.95	%	7.84	%

Other Benefits
Discount rate	3.42	%	3.82	%	4.01	%
Rate of compensation increase	3.00	%	3.00	%	3.00	%
Expected rate of return on plan assets	7.00	%	7.00	%	7.00	%

Fair Values of Pension Benefit Assets and Other Benefit Assets by Asset Category and Level Inputs

The fair values of our pension benefit assets and other benefit assets by asset category and level inputs at December 31, 2018, excluding cash, investment income receivable and amounts due to/from brokers, resulting in a net asset of $69, are as follows (see Note 6, “Fair Value,” for additional information regarding the definition of level inputs):



	Level I		Level II		Level III		Total
December 31, 2018
Pension Benefit Assets:
Equity securities:
U.S. securities	$	488	$	—	$	—	$	488
Foreign securities	147		—		—		147
Mutual funds	36		—		—		36
Fixed maturity securities:
Government securities	—		248		—		248
Corporate securities	—		347		—		347
Asset-backed securities	—		153		—		153
Other types of investments:
Partnership interests	—		—		187		187
Insurance company contracts	—		—		166		166
Total pension benefit assets	$	671	$	748	$	353	$	1,772

Other Benefit Assets:
Equity securities:
U.S. securities	$	9	$	—	$	—	$	9
Foreign securities	3		—		—		3
Mutual funds	27		—		—		27
Fixed maturity securities:
Government securities	—		3		—		3
Corporate securities	—		5		—		5
Asset-backed securities	—		5		—		5
Other types of investments:
Partnership interests	—		—		2		2
Life insurance contracts	—		—		249		249
Investment in DOL 103-12 trust	—		10		—		10
Total other benefit assets	$	39	$	23	$	251	$	313

The fair values of our pension benefit assets and other benefit assets by asset category and level inputs at December 31, 2017, excluding cash, investment income receivable and amounts due to/from brokers, resulting in a net asset of $14, are as follows:



	Level I		Level II		Level III		Total
December 31, 2017
Pension Benefit Assets:
Equity securities:
U.S. securities	$	584	$	5	$	—	$	589
Foreign securities	179		—		—		179
Mutual funds	39		—		—		39
Fixed maturity securities:
Government securities	227		—		—		227
Corporate securities	—		377		—		377
Asset-backed securities	—		140		—		140
Other types of investments:
Common and collective trusts	—		54		—		54
Partnership interests	—		—		221		221
Insurance company contracts	—		—		173		173
Total pension benefit assets	$	1,029	$	576	$	394	$	1,999

Other Benefit Assets:
Equity securities:
U.S. securities	$	10	$	—	$	—	$	10
Foreign securities	3		—		—		3
Mutual funds	48		—		—		48
Fixed maturity securities:
Government securities	3		—		—		3
Corporate securities	—		5		—		5
Asset-backed securities	—		5		—		5
Other types of investments:
Common and collective trusts	—		1		—		1
Life insurance contracts	—		—		269		269
Investment in DOL 103-12 trust	—		11		—		11
Total other benefit assets	$	64	$	22	$	269	$	355

Reconciliation Of The Beginning And Ending Balances Of Plan Assets Measured At Fair Value Using Level III Inputs

A reconciliation of the beginning and ending balances of plan assets measured at fair value using Level III inputs for the years ended December 31, 2018, 2017 and 2016 is as follows:



	Partnership Interests			Insurance Company Contracts			Life Insurance Contracts			Total
Year ended December 31, 2018
Beginning balance at January 1, 2018	$	221		$	173		$	269		$	663
Actual return on plan assets relating to assets still held at the reporting date	(10		)	(7		)	(15		)	(32		)
Purchases	—			8			—			8
Sales	(22		)	(8		)	(5		)	(35		)
Ending balance at December 31, 2018	$	189		$	166		$	249		$	604

Year ended December 31, 2017
Beginning balance at January 1, 2017	$	114		$	173		$	238		$	525
Actual return on plan assets relating to assets still held at the reporting date	20			(1		)	31			50
Purchases	126			10			—			136
Sales	(39		)	(9		)	—			(48		)
Ending balance at December 31, 2017	$	221		$	173		$	269		$	663

Year ended December 31, 2016
Beginning balance at January 1, 2016	$	119		$	174		$	230		$	523
Actual return on plan assets relating to assets still held at the reporting date	(4		)	(3		)	11			4
Purchases	18			9			—			27
Sales	(19		)	(7		)	(3		)	(29		)
Ending balance at December 31, 2016	$	114		$	173		$	238		$	525

Estimated Future Payments For Pension Benefits And Postretirement Benefits

Our estimated future payments for pension benefits and postretirement benefits, which reflect expected future service, as appropriate, are as follows:



	Pension Benefits		Other Benefits
2019	$	124	$	37
2020	121		37
2021	123		37
2022	123		37
2023	121		36
2024 - 2028	575		159