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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Payment for Pension and Other Postretirement Benefits [Abstract]  
Schedule of Changes in Projected Benefit Obligations and Changes in Plan Assets
Additional information about the fair value of the benefit plan assets, the components of net periodic cost and the projected benefit obligation as of and for the years ended December 31, 2019 and 2018 are ($ in millions).
 
HG DB
Plan Benefits
 
IMTT DB
Plan Benefits
 
Other
Plan Benefits
 
Total
2019
 
2018
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Change in benefit obligation:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Benefit obligation – beginning of year
$
49

 
$
53

 
$
143

 
$
162

 
$
28

 
$
29

 
$
220

 
$
244

Service cost
1

 
1

 
5

 
6

 
1

 
1

 
7

 
8

Interest cost
2

 
2

 
6

 
6

 
1

 
1

 
9

 
9

Actuarial losses (gains)
5

 
(4
)
 
23

 
(22
)
 
2

 
(2
)
 
30

 
(28
)
Benefits paid
(3
)
 
(3
)
 
(9
)
 
(9
)
 
(2
)
 
(1
)
 
(14
)
 
(13
)
Benefit obligation – end of year
$
54

 
$
49

 
$
168

 
$
143

 
$
30

 
$
28

 
$
252

 
$
220

Change in plan assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair value of plan assets - beginning of year
$
46

 
$
51

 
$
88

 
$
102

 
$
9

 
$
9

 
$
143

 
$
162

Actual return on plan assets
9

 
(2
)
 
15

 
(5
)
 
1

 
—

 
25

 
(7
)
Employer contributions
—

 
—

 
—

 
—

 
1

 
1

 
1

 
1

Benefits paid
(3
)
 
(3
)
 
(9
)
 
(9
)
 
(2
)
 
(1
)
 
(14
)
 
(13
)
Fair value of plan assets – end of year
$
52

 
$
46

 
$
94

 
$
88

 
$
9

 
$
9

 
$
155

 
$
143
Funded Status
The funded status at December 31, 2019 and 2018, are presented in the following table ($ in millions):
 
HG DB
Plan Benefits
 
IMTT DB
Plan Benefits
 
Other Plan
Benefits
 
Total
2019
 
2018
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Funded status
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Funded status at end of year
$
(2
)
 
$
(3
)
 
$
(74
)
 
$
(55
)
 
$
(21
)
 
$
(19
)
 
$
(97
)
 
$
(77
)
Net amount recognized in balance sheet
$
(2
)
 
$
(3
)
 
$
(74
)
 
$
(55
)
 
$
(21
)
 
$
(19
)
 
$
(97
)
 
$
(77
)
Amounts recognized in balance sheet consisting of:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current liabilities
$
—

 
$
—

 
$
—

 
$
—

 
$
(1
)
 
$
(1
)
 
$
(1
)
 
$
(1
)
Noncurrent liabilities
(2
)
 
(3
)
 
(74
)
 
(55
)
 
(20
)
 
(18
)
 
(96
)
 
(76
)
Net amount recognized in balance sheet
$
(2
)
 
$
(3
)
 
$
(74
)
 
$
(55
)
 
$
(21
)
 
$
(19
)
 
$
(97
)
 
$
(77
)
Schedule of Net Periodic Benefit Cost Not yet Recognized
Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss in 2019 and 2018 are presented in the following table ($ in millions):
 
HG DB
Plan Benefits
 
IMTT DB
Plan Benefits
 
Other
Plan Benefits
 
Total
2019
 
2018
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Accumulated loss
$
(8
)
 
$
(10
)
 
$
(20
)
 
$
(7
)
 
$
(5
)
 
$
(4
)
 
$
(33
)
 
$
(21
)
Accumulated other comprehensive loss
(8
)
 
(10
)
 
(20
)
 
(7
)
 
(5
)
 
(4
)
 
(33
)
 
(21
)
Net periodic benefit cost in excess (deficit) of cumulative employer contributions
6

 
7

 
(54
)
 
(48
)
 
(16
)
 
(15
)
 
(64
)
 
(56
)
Net amount recognized in balance sheet
$
(2
)
 
$
(3
)
 
$
(74
)
 
$
(55
)
 
$
(21
)
 
$
(19
)
 
$
(97
)
 
$
(77
)
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
The components of net periodic benefit cost and other changes in other comprehensive loss (income) for the plans are shown below ($ in millions):
 
HG DB
Plan Benefits
 
IMTT DB
Plan Benefits
 
Other
Plan Benefits
 
Total
2019
 
2018
 
2017
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
1

 
$
1

 
$
1

 
$
5

 
$
6

 
$
5

 
$
1

 
$
1

 
$
1

 
$
7

 
$
8

 
$
7

Interest cost
2

 
2

 
2

 
6

 
6

 
6

 
1

 
1

 
1

 
9

 
9

 
9

Expected return on plan assets
(3
)
 
(3
)
 
(3
)
 
(5
)
 
(6
)
 
(6
)
 
—

 
(1
)
 
—

 
(8
)
 
(10
)
 
(9
)
Recognized actuarial loss
1

 
1

 
1

 
—

 
—

 
—

 
—

 
—

 
—

 
1

 
1

 
1

Special termination
benefits
—

 
—

 
—

 
—

 
—

 
1

 
—

 
—

 
—

 
—

 
—

 
1

Net periodic benefit cost
$
1

 
$
1

 
$
1

 
$
6

 
$
6

 
$
6

 
$
2

 
$
1

 
$
2

 
$
9

 
$
8

 
$
9

Other changes recognized in other comprehensive loss (income):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (gain) loss arising during the year
$
(1
)
 
$
1

 
$
(2
)
 
$
13

 
$
(11
)
 
$
9

 
$
1

 
$
(1
)
 
$
1

 
$
13

 
$
(11
)
 
$
8

Amortization of loss
(1
)
 
(1
)
 
(1
)
 
—

 
—

 
—

 
—

 
—

 
—

 
(1
)
 
(1
)
 
(1
)
Total recognized in other comprehensive (income) loss
$
(2
)
 
$
—

 
$
(3
)
 
$
13

 
$
(11
)
 
$
9

 
$
1

 
$
(1
)
 
$
1

 
$
12

 
$
(12
)
 
$
7

The assumptions used in accounting for the HG DB Plan Benefits, IMTT DB Plan Benefits and Other Plan Benefits are:
  
HG DB Plan Benefits
 
IMTT DB Plan Benefits
 
Other Plan Benefits
2019
 
2018
 
2017
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
Weighted average assumptions to determine benefit obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Discount rate
3.20
%
 
4.25
%
 
3.60
%
 
3.25
%
 
4.35
%
 
3.70
%
 
2.82% to 3.35%

 
 
3.91% to 4.35%

 
 
3.25% to 3.70%

 
Rate of compensation increase
N/A

 
N/A

 
N/A

 
4.57
%
 
4.57
%
 
4.57
%
 
4.57
%
(1) 
 
4.57
%
(1) 
 
4.57
%
(1) 
Measurement date
December 31
 
December 31
 
December 31
 
December 31
 
December 31
 
December 31
 
December 31
 
 
December 31
 
 
December 31
 
Weighted average assumptions to determine net cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Discount rate
4.25
%
 
3.60
%
 
4.00
%
 
4.35
%
 
3.70
%
 
4.30
%
 
3.91% to 4.35%

 
 
3.25% to 3.70%

 
 
3.56% to 4.25%

 
Expected long-term rate of return on plan assets during fiscal year
4.90
%
 
5.90
%
 
5.90
%
 
5.50
%
 
5.60
%
 
6.25
%
 
5.50
%
(2) 
 
5.75
%
(2) 
 
5.75
%
(2) 
Rate of compensation increase
N/A

 
N/A

 
N/A

 
4.57
%
 
4.57
%
 
4.57
%
 
4.57
%
(1) 
 
4.57
%
(1) 
 
4.57
%
(1) 
Assumed healthcare cost trend rates:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Initial health care cost trend rate
 
 
 
 
 
 
 
 
 
 
 
 
7.25% to 7.75%

 
 
8.00% to 8.50%

 
 
6.98% to 7.00%

 
Ultimate rate
 
 
 
 
 
 
 
 
 
 
 
 
4.50% to 5.00%

 
 
4.50% to 5.00%

 
 
4.50% to 5.00%

 
Year ultimate rate is reached
 
 
 
 
 
 
 
 
 
 
 
 
2027 to 2028

 
 
2026 to 2027

 
 
2025 to 2028

 
_____________
(1)
Only applies to IMTT post-retirement life insurance plan.
(2)
Only applies to IMTT-Illinois Union Plan.
DB Plan Weighted Average Asset Allocation The weighted average asset allocation at December 31, 2019 and 2018 was:
 
HG DB
Plan Benefits
 
IMTT DB
Plan Benefits
 
Other
Plan Benefits
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Equity securities
26
%
 
23
%
 
44
%
 
42
%
 
47
%
 
45
%
Fixed income securities
69
%
 
71
%
 
40
%
 
41
%
 
43
%
 
44
%
Private equity
—

 
—

 
8
%
 
7
%
 
2
%
 
1
%
Global real estate fund
4
%
 
4
%
 
4
%
 
6
%
 
5
%
 
6
%
Cash
1
%
 
2
%
 
4
%
 
4
%
 
3
%
 
4
%
Total
100
%
 
100
%
 
100
%
 
100
%
 
100
%
 
100
%
Schedule of Allocation of Plan Assets
The expected returns on plan assets were estimated based on the allocation of assets and management’s expectations regarding future performance of the investments held in the investment portfolios. The asset allocations as of December 31, 2019 and 2018 measurement dates were ($ in millions):
 
Fair Value Measurements at December 31, 2019
Pension Benefits – Plan Assets
Total
 
Quoted Prices in Active
Markets for
Identical Assets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Net
Asset
Value
(NAV)
Asset category:
 
 
 
 
 
 
 
 
 
Cash and money market
$
5

 
$
5

 
$
—

 
$
—

 
$
—

Equity securities
59

 
—

 
59

 
—

 
—

Fixed income securities
77

 
—

 
77

 
—

 
—

Global real estate fund
6

 
—

 
6

 
—

 
—

Domestic private equity
8

 
—

 
—

 
—

 
8

Total
$
155

 
$
5

 
$
142

 
$
—

 
$
8

 
Fair Value Measurements at December 31, 2018
Pension Benefits – Plan Assets
Total
 
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Net
Asset
Value
(NAV)
Asset category:
 
 
 
 
 
 
 
 
 
Cash and money market
$
5

 
$
5

 
$
—

 
$
—

 
$
—

Equity securities
52

 
—

 
52

 
—

 
—

Fixed income securities
73

 
—

 
73

 
—

 
—

Global real estate fund
7

 
—

 
7

 
—

 
—

Domestic private equity
6

 
—

 
—

 
—

 
6

Total
$
143

 
$
5

 
$
132

 
$
—

 
$
6
Estimated Future Benefit Payments
The estimated future benefit payments for the next ten years are ($ in millions):
 
HG DB Plan Benefits
 
IMTT DB Plan Benefits
 
Other Plan Benefits
 
Total
2020
$
3

 
$
10

 
$
2

 
$
15

2021
3

 
7

 
2

 
12

2022
3

 
7

 
2

 
12

2023
3

 
8

 
2

 
13

2024
3

 
8

 
2

 
13

Thereafter
16

 
45

 
9

 
70

Total
$
31

 
$
85

 
$
19

 
$
135