Pension and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Components of Pension Expense and Benefits Cost

Non-U.S. Plans	2015			2014			2013
Service cost	$	24		$	23		$	24
Interest cost	127			154			138
Expected return on plan assets	(172		)	(194		)	(176		)
Settlements	—			—			(2		)
Amortization of actuarial loss	55			73			71
Amortization of prior service credit	(13		)	(16		)	(14		)
Net periodic cost	$	21		$	40		$	41

The components of net postretirement benefits cost are as follows:

Other Postretirement Benefits	2015			2014			2013
Service cost	$	1		$	2		$	3
Interest cost	7			12			13
Amortization of prior service credit	(37		)	(34		)	(39		)
Amortization of actuarial loss	4			6			10
Net periodic benefit cost	$	(25	)	$	(14	)	$	(13	)

The components of pension expense were as follows:

U.S. Plans	2015			2014			2013
Service cost	$	14		$	13		$	15
Interest cost	63			66			62
Expected return on plan assets	(100		)	(104		)	(99		)
Amortization of actuarial loss	50			41			55
Amortization of prior service cost	—			—			1
Net periodic cost	$	27		$	16		$	34

Schedule of Projected Benefit Obligations, Accumulated Benefit Obligations, Plan Assets and Funded Status

The projected benefit obligations, accumulated benefit obligations, plan assets and funded status of the Company's U.S. and non-U.S. plans is as follows:

	U.S. Plans						Non-U.S. Plans
	2015			2014			2015			2014
Projected Benefit Obligations
Benefit obligations at January 1	$	1,601		$	1,454		$	3,750		$	3,651
Service cost	14			13			24			23
Interest cost	63			66			127			154
Plan participants’ contributions	—			—			3			4
Amendments	—			3			—			(3		)
Settlements	(5		)	—			—			(17		)
Actuarial (gain) / loss	(69		)	170			(62		)	384
Acquisitions	—			—			102			—
Benefits paid	(103		)	(105		)	(190		)	(191		)
Foreign currency translation	—			—			(241		)	(255		)
Benefit obligations at December 31	$	1,501		$	1,601		$	3,513		$	3,750
Plan Assets
Fair value of plan assets at January 1	$	1,300		$	1,349		$	3,410		$	3,135
Actual return on plan assets	(9		)	54			48			623
Employer contributions	7			2			72			80
Plan participants’ contributions	—			—			3			4
Settlements	(5		)	—			—			(17		)
Acquisitions	—			—			40			—
Benefits paid	(103		)	(105		)	(190		)	(191		)
Foreign currency translation	—			—			(214		)	(224		)
Fair value of plan assets at December 31	$	1,190		$	1,300		$	3,169		$	3,410
Funded Status	$	(311	)	$	(301	)	$	(344	)	$	(340	)
Accumulated benefit obligations at December 31	$	1,463		$	1,557		$	3,407		$	3,630

Information for Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets

Non-U.S. Plans	2015		2014
Projected benefit obligations	$	3,366	$	3,444
Accumulated benefit obligations	3,261		3,350
Fair value of plan assets	3,015		3,116

Information for pension plans with accumulated benefit obligations in excess of plan assets is as follows:

U.S. Plans	2015		2014
Projected benefit obligations	$	1,501	$	1,601
Accumulated benefit obligations	1,463		1,557
Fair value of plan assets	1,190		1,300

Schedule of Ranges for Asset Allocation and Summary of Defined Benefit Plan Assets and Accrued Income

The levels assigned to the defined benefit plan assets as of December 31, 2015 and 2014 are summarized in the tables below:

	2015
	U.S. plan assets		Non-U.S. plan assets		Total
Level 1
Cash and cash equivalents	$	40	$	132	$	172
U.S. large cap equity	62		7		69
U.S. mid/small cap equity	231		18		249
Mutual funds – global equity	164		2		166
Mutual funds – U.S. equity	194		—		194
Mutual funds – fixed income	134		—		134
	825		159		984
Level 2
Government issued debt securities	43		381		424
Corporate debt securities	71		86		157
Asset backed securities	15		4		19
Structured debt	—		697		697
Insurance contracts	—		17		17
Derivatives	—		84		84
Investment funds – fixed income	71		585		656
Investment funds – global equity	25		336		361
Investment funds – emerging markets	21		46		67
	246		2,236		2,482
Level 3
Investment funds – real estate	74		97		171
Hedge funds	2		411		413
Private equity	26		255		281
Real estate – direct	16		4		20
	118		767		885
Total	$	1,189	$	3,162	$	4,351

	2014
	U.S. plan assets		Non-U.S. plan assets		Total
Level 1
Cash and cash equivalents	$	66	$	67	$	133
Global large cap equity	—		38		38
U.S. large cap equity	187		26		213
U.S. mid/small cap equity	251		19		270
Mutual funds – global equity	174		—		174
Mutual funds – U.S. equity	83		—		83
Mutual funds – fixed income	145		—		145
	906		150		1,056
Level 2
Government issued debt securities	35		553		588
Corporate debt securities	81		75		156
Asset backed securities	17		8		25
Structured debt	—		722		722
Insurance contracts	—		12		12
Derivatives	—		195		195
Investment funds – fixed income	60		527		587
Investment funds – global equity	24		377		401
Investment funds – emerging markets	29		112		141
	246		2,581		2,827
Level 3
Investment funds – real estate	57		108		165
Hedge funds	42		260		302
Private equity	30		303		333
Real estate – direct	17		4		21
	146		675		821
Total	$	1,298	$	3,406	$	4,704

Accrued income excluded from the tables above is as follows:

	2015		2014
U.S. plan assets	$	1	$	2
Non-U.S. plan assets	7		4

The strategic ranges for asset allocation in the U.K. plan are as follows:

Investment grade credit	40	%	to	80	%
Equities	0	%	to	30	%
Hedge funds	0	%	to	10	%
Real estate	0	%	to	5	%
Private equity	0	%	to	15	%
Emerging market wealth	0	%	to	15	%
Alternative credit	0	%	to	15	%
Other	0	%	to	5	%

The strategic ranges for asset allocation in the U.S. plan are as follows:

U.S. equities	30	%	to	40	%
International equities	10	%	to	15	%
Fixed income	13	%	to	23	%
Balanced funds	15	%	to	25	%
Real estate	5	%	to	10	%
Private equity	5	%	to	10	%

Reconciliation of Plan Assets Using Level 3

The following tables reconcile the beginning and ending balances of plan assets measured using significant unobservable inputs (Level 3).

	Hedge funds			Private equity			Real estate			Total
Balance at January 1, 2014	$	225		$	335		$	157		$	717
Foreign currency translation	(9		)	(18		)	(6		)	(33		)
Asset returns – assets held at reporting date	25			62			25			112
Asset returns – assets sold during the period	—			(5		)	(4		)	(9		)
Purchases, sales and settlements, net	61			(41		)	14			34
Balance at December 31, 2014	302			333			186			821
Foreign currency translation	(14		)	(16		)	(8		)	(38		)
Asset returns – assets held at reporting date	(5		)	(17		)	5			(17		)
Asset returns – assets sold during the period	17			54			10			81
Purchases, sales and settlements, net	113			(73		)	(2		)	38
Balance at December 31, 2015	$	413		$	281		$	191		$	885

Schedule of Pension Assets and Liabilities

Pension assets and liabilities included in the Consolidated Balance Sheets are:

	2015		2014
Non-current assets	$	8	$	13
Current liabilities	39		12
Non-current liabilities	629		641

Schedule of Changes in Net Loss and Prior Service Cost/(Credit)

Changes in the net loss and prior service credit for the Company’s postretirement benefit plans were:

	2015						2014						2013
	Net loss			Prior service			Net loss			Prior service			Net loss			Prior service
Balance at January 1	$	69		$	(211	)	$	97		$	(246	)	$	157		$	(269	)
Reclassification to net periodic benefit cost	(4		)	37			(6		)	34			(10		)	39
Current year loss	(18		)	—			(24		)	—			(49		)	—
Amendments	—			(51		)	—			—			—			(18		)
Foreign currency translation				—			2			1			(1		)	2
Balance at December 31	$	47		$	(225	)	$	69		$	(211	)	$	97		$	(246	)

Changes in the net loss and prior service credit for the Company’s pension plans were:

	2015						2014						2013
	Net loss			Prior service			Net loss			Prior service			Net loss			Prior service
Balance at January 1	$	2,423		$	(71	)	$	2,466		$	(94	)	$	2,619		$	(102	)
Reclassification to net periodic benefit cost	(105		)	13			(120		)	16			(130		)	13
Current year loss/(gain)	95			—			174			—			(47		)	(1		)
Amendments	—			—			—			3			—			—
Foreign currency translation	(93		)	4			(97		)	4			24			(4		)
Balance at December 31	$	2,320		$	(54	)	$	2,423		$	(71	)	$	2,466		$	(94	)

Schedule of Expected Future Benefit Payments

Expected future benefit payments, as of December 31, 2015, net of expected Medicare Part D subsidies of $4 in the aggregate are:

	Benefit Payments
2016	$	14
2017	13
2018	13
2019	12
2020	12
2021 - 2024	53

Expected future benefit payments as of December 31, 2015 are:

	U.S. plans		Non-U.S. plans
2016	$	138	$	179
2017	105		178
2018	102		182
2019	114		185
2020	104		188
2021 - 2025	490		961

Schedule of Benefit Obligations Weighted Average Actuarial Assumptions

The weighted average actuarial assumptions used to calculate pension expense for each year were:

U.S. Plans	2015		2014		2013
Discount rate	4.0	%	4.8	%	4.0	%
Compensation increase	4.6	%	3.0	%	3.0	%
Long-term rate of return	8.0	%	8.0	%	8.0	%

Non-U.S. Plans	2015		2014		2013
Discount rate	3.4	%	4.4	%	4.1	%
Compensation increase	2.7	%	3.2	%	2.8	%
Long-term rate of return	5.2	%	6.4	%	6.0	%

The weighted average actuarial assumptions used to calculate the benefit obligations at December 31 are:

U.S. Plans	2015		2014		2013
Discount rate	4.4	%	4.0	%	4.8	%
Compensation increase	4.6	%	4.6	%	3.0	%

Non-U.S. Plans	2015		2014		2013
Discount rate	3.7	%	3.4	%	4.4	%
Compensation increase	2.9	%	2.7	%	3.2	%

Schedule of Changes in Benefit Obligations

Changes in the benefit obligations were:

	2015			2014
Benefit obligations at January 1	$	241		$	274
Service cost	1			2
Interest cost	7			12
Amendments	(52		)	—
Actuarial gain	(19		)	(23		)
Curtailment	(3		)	—
Benefits paid	(17		)	(19		)
Foreign currency translation	(7		)	(5		)
Benefit obligations at December 31	$	151		$	241

Schedule of Assumed Health Care Cost Trend Rates

The assumed health care cost trend rates at December 31, 2015 are as follows:

Health care cost trend rate assumed for 2016	5.5	%
Rate that the cost trend rate gradually declines to	4.4	%
Year that the rate reaches the rate it is assumed to remain	2027

Schedule of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

A one-percentage-point change in assumed health care cost trend rates would have the following effects:

	One percentage point
	Increase		Decrease
Effect on total service and interest cost	$	1	$	1
Effect on postretirement benefit obligation	$	6	$	5

Schedule of Weighted Average Discount Rates Used in Benefit Obligations Calculation

Weighted average discount rates used to calculate the benefit obligations at the end of each year and the cost for each year are presented below.

	2015		2014		2013
Benefit obligations	3.9	%	4.0	%	4.8	%
Cost	4.0	%	4.8	%	4.1	%