Benefit Obligations (Tables)

12 Months Ended

Dec. 31, 2018

Retirement Benefits [Abstract]

Schedule of Contributions to Multiemployer Defined Benefit Pension Plans

Contributions made by the Company to the German multiemployer plan are as follows:

	Year Ended December 31,
	2018	2017	2016
	(In $ millions)
Multiemployer defined benefit plan	8	7	7

Schedule of Postemployment Obligations

Postemployment obligations are as follows:

	As of December 31,
	2018	2017
	(In $ millions)
Postemployment benefits	8	8

Schedule of Contributions to Defined Contribution Plans

The amount of costs recognized for the Company's defined contribution plans are as follows:

	Year Ended December 31,
	2018	2017	2016
	(In $ millions)
Defined contribution plans	40	40	43

Schedule of Company's Pension and Post Retirement Benefit Plans

Summarized information on the Company's pension and postretirement benefit plans is as follows:

	Pension Benefits As of December 31,				Postretirement Benefits As of December 31,
	2018		2017		2018		2017
	(In $ millions)
Change in Projected Benefit Obligation
Projected benefit obligation as of beginning of period	3,728		3,610		66		67
Service cost	9		9		1		1
Interest cost	104		107		2		1
Net actuarial (gain) loss(1)	(163	)	151		(4	)	(2	)
Settlements	—		(1	)	—		—
Benefits paid	(235	)	(233	)	(4	)	(4	)
Curtailments	(1	)	—		—		—
Special termination benefits	2		1		—		—
Exchange rate changes	(32	)	69		(2	)	3
Other(2)	—		15		—		—
Projected benefit obligation as of end of period	3,412		3,728		59		66
Change in Plan Assets
Fair value of plan assets as of beginning of period	3,251		2,784		—		—
Actual return on plan assets	(124	)	302		—		—
Employer contributions	43		359		4		4
Settlements	—		(1	)	—		—
Benefits paid(3)	(235	)	(233	)	(4	)	(4	)
Exchange rate changes	(20	)	40		—		—
Fair value of plan assets as of end of period	2,915		3,251		—		—
Funded status as of end of period	(497	)	(477	)	(59	)	(66	)
Amounts Recognized in the Consolidated Balance Sheets Consist of:
Noncurrent Other assets	30		64		—		—
Current Other liabilities	(24	)	(24	)	(5	)	(5	)
Benefit obligations	(503	)	(517	)	(54	)	(61	)
Net amount recognized	(497	)	(477	)	(59	)	(66	)
Amounts Recognized in Accumulated Other Comprehensive Income Consist of:
Net actuarial (gain) loss(4)	8		9		—		—
Prior service (benefit) cost	—		(1	)	—		1
Net amount recognized(5)	8		8		—		1

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⁽¹⁾  Primarily relates to change in discount rates.

⁽²⁾  Primarily relates to the acquisition of Nilit (Note 4).

⁽³⁾  Includes benefit payments to nonqualified pension plans of $22 million and $22 million as of December 31, 2018 and 2017, respectively.

⁽⁴⁾  Relates to the pension plans of the Company's equity method investments.

⁽⁵⁾  Amount shown net of an income tax benefit of $5 million and $6 million as of December 31, 2018 and 2017, respectively, in the consolidated statements of equity (Note 17).

Schedule of Percentage of US and International Projected Benefit Obligation

The percentage of US and international projected benefit obligation at the end of the period is as follows:

	Pension Benefits As of December 31,		Postretirement Benefits As of December 31,
	2018	2017	2018	2017
	(In percentages)
US plans	82	83	57	54
International plans	18	17	43	46
Total	100	100	100	100

Schedule of Percentage of US and International Fair Value of Plan Assets

The percentage of US and international fair value of plan assets at the end of the period is as follows:

	Pension Benefits As of December 31,
	2018	2017
	(In percentages)
US plans	88	88
International plans	12	12
Total	100	100

Schedule of Pension Plans with Projected Benefit Obligations in Excess of Plan Assets

Pension plans with projected benefit obligations in excess of plan assets are as follows:

	As of December 31,
	2018	2017
	(In $ millions)
Projected benefit obligation	840	882
Fair value of plan assets	314	341

Schedule of Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets

ension plans with accumulated benefit obligations in excess of plan assets are as follows:

	As of December 31,
	2018	2017
	(In $ millions)
Accumulated benefit obligation	749	861
Fair value of plan assets	243	338

Schedule of Accumulated Benefit Obligation for All Defined Benefit Pension Plans

The accumulated benefit obligation for all defined benefit pension plans is as follows:

	As of December 31,
	2018	2017
	(In $ millions)
Accumulated benefit obligation	3,390	3,710

Schedule of Net Periodic Benefit Costs

The components of net periodic benefit cost are as follows:

	Pension Benefits Year Ended December 31,						Postretirement Benefits Year Ended December 31,
	2018		2017		2016		2018		2017		2016
	(In $ millions)
Service cost	9		9		8		1		1		—
Interest cost	104		107		113		2		1		2
Expected return on plan assets	(210	)	(198	)	(177	)	—		—		—
Amortization of prior service cost / (credit)	—		—		—		—		(1	)	(3	)
Recognized actuarial (gain) loss	169		48		101		(4	)	(2	)	2
Curtailment (gain) loss	(1	)	—		—		—		—		—
Special termination benefit	2		1		3		—		—		—
Total	73		(33	)	48		(1	)	(1	)	1

Schedule of Amortization of Accumulated Other Comprehensive Income (Loss), Net Into Net Periodic Benefit Cost

Amortization of Accumulated other comprehensive income (loss), net into net periodic benefit cost in 2019 is expected to be as follows:

	Pension Benefits	Postretirement Benefits
	(In $ millions)
Prior service cost	—	—
Total	—	—

Schedule of Nonqualified Pension Plans Funded with Nonqualified Trusts

The Company maintains nonqualified pension plans funded with nonqualified trusts for certain US employees as follows:

	As of December 31,
	2018	2017
	(In $ millions)
Nonqualified Trust Assets
Marketable securities, at fair value	31	32
Noncurrent Other assets, consisting of insurance contracts	37	42
Nonqualified Pension Obligations
Current Other liabilities	21	22
Benefit obligations	213	237

Schedule of Expense Related to Nonqualified Pension Plans Included in Net Periodic Benefit Cost, Excluding Returns on Assets

xpense relating to the nonqualified pension plans included in net periodic benefit cost, excluding returns on the assets held by the nonqualified trusts, is as follows:

	Year Ended December 31,
	2018		2017	2016
	(In $ millions)
Total	(3	)	18	18

Schedule of Principle Weighted Average Assumptions Used to Determine Benefit Obligations and Benefit Cost

The principal weighted average assumptions used to determine benefit obligation are as follows:

	Pension Benefits As of December 31,		Postretirement Benefits As of December 31,
	2018	2017	2018	2017
	(In percentages)
Discount Rate Obligations
US plans	4.2	3.5	4.1	3.4
International plans	2.1	2.1	3.4	3.2
Combined	3.8	3.3	3.8	3.2
Rate of Compensation Increase
US plans	N/A	N/A
International plans	2.8	2.8
Combined	2.8	2.8

The principal weighted average assumptions used to determine net periodic benefit cost are as follows:

	Pension Benefits Year Ended December 31,			Postretirement Benefits Year Ended December 31,
	2018	2017	2016	2018	2017	2016
	(In percentages)
Discount Rate Obligations
US plans	3.5	3.9	4.2	3.4	3.8	4.0
International plans	2.1	2.1	2.6	3.2	3.3	3.6
Combined	3.3	3.7	4.0	3.2	3.4	3.9
Discount Rate Service Cost(1)
US plans	1.9	1.2	4.5	3.7	4.0	4.2
International plans	2.3	2.5	3.1	3.3	3.4	3.8
Combined	2.2	2.5	3.1	2.9	2.9	3.8
Discount Rate Interest Cost(1)
US plans	3.1	3.3	3.4	3.0	3.1	3.1
International plans	1.7	1.7	2.2	2.9	2.9	3.1
Combined	2.9	3.1	3.2	2.9	2.9	3.1
Expected Return on Plan Assets
US plans	6.8	7.5	7.5
International plans	5.9	5.9	6.1
Combined	6.7	7.3	7.3
Rate of Compensation Increase
US plans	N/A	N/A	N/A
International plans	2.8	2.8	2.7
Combined	2.8	2.8	2.7

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⁽¹⁾  Beginning in 2016, weighted-average discount rates reflect the adoption of the full yield curve approach.

Schedule of Health Care Cost Trend Rates

The Company's health care cost trend assumptions for US postretirement medical plan's net periodic benefit cost are as follows:

	As of December 31,
	2018	2017	2016
	(In percentages, except year)
Health care cost trend rate assumed for next year	8.5	9.0	9.5
Health care cost trend ultimate rate	5.0	5.0	5.0
Health care cost trend ultimate rate year	2026	2026	2026

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

The impact of a one percentage point change in the assumed health care cost trend is as follows:

	Trend Rate Change
	Decreases 1%	Increases 1%
	(In $ millions)
Postretirement obligations	1.5	1.8
Service and interest cost	—	—

Schedule of Weighted Average Target Asset Allocations

The weighted average target asset allocations for the Company's pension plans in 2018 are as follows:

	US Plans	International Plans
	(In percentages)
Bonds - domestic to plans	80	59
Equities - domestic to plans	10	16
Equities - international to plans	10	—
Other	—	25
Total	100	100

Schedule of Fair Values of Pension Plan Assets

Other: Composed of real estate investment trust common stock valued at closing price as reported on the active market in which the individual securities are traded.

	Fair Value Measurement
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
	As of December 31,
	2018	2017	2018	2017	2018	2017
	(In $ millions)
Assets
Cash and cash equivalents	2	5	—	—	2	5
Derivatives
Swaps	—	—	3	8	3	8
Equity securities
International companies	59	72	—	—	59	72
Fixed income
Corporate debt	—	—	691	776	691	776
Treasuries, other debt	127	48	1,293	1,411	1,420	1,459
Mortgage backed securities	—	—	8	7	8	7
Insurance contracts	—	—	35	36	35	36
Other	4	4	1	1	5	5
Total investments, at fair value(1)	192	129	2,031	2,239	2,223	2,368
Liabilities
Derivatives
Swaps	—	—	3	7	3	7
Total liabilities	—	—	3	7	3	7
Total net assets(2)	192	129	2,028	2,232	2,220	2,361

______________________________

⁽¹⁾  In accordance with ASU 2015-07 (Note 2), certain investments that are measured at fair value using the NAV per share practical expedient have not been classified in the fair value hierarchy. Total investments, at fair value, for the year ended December 31, 2018 excludes investments in common/collective trusts, registered investment companies and short-term investment funds with fair values of $595 million, $54 million and $29 million, respectively. Total investments, at fair value, for the year ended December 31, 2017 excludes investments in common/collective trusts, registered investment companies and short-term investment funds with fair values of $727 million, $60 million and $96 million, respectively.

⁽²⁾  Total net assets excludes non-financial plan receivables and payables of $36 million and $19 million, respectively, as of December 31, 2018 and $25 million and $18 million, respectively, as of December 31, 2017. Non-financial items include due to/from broker, interest receivables and accrued expenses.

Schedule of Company Commitments to Fund Benefit Obligations

Benefit obligation funding is as follows:

	Total Expected 2019
	(In $ millions)
Cash contributions to defined benefit pension plans	22
Benefit payments to nonqualified pension plans	21
Benefit payments to other postretirement benefit plans	5

Schedule of Pension Benefits Expected to be Paid from the Plans or From the Company's Assets

Pension and postretirement benefits expected to be paid are as follows:

	Pension Benefit Payments(1)	Company Portion of Postretirement Benefit Cost(2)
	(In $ millions)
2019	234	5
2020	232	4
2021	227	4
2022	225	4
2023	224	4
2024-2028	1,072	18

______________________________

⁽¹⁾  Payments are expected to be made primarily from plan assets.

⁽²⁾  Payments are expected to be made primarily from Company assets.