Pension and Postretirement Expense Level 3 (Tables)

6 Months Ended

Dec. 31, 2019

Pension and Postretirement Expense [Abstract]

Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]

The following table presents the change in benefit obligation, change in plan assets and components of funded status for the Company’s defined benefit pension and non-pension postretirement benefit plans for the period July 2, 2019 through December 31, 2019, January 1, 2019 through July 1, 2019 and the year ended December 31, 2018:



	Pension Benefits
	Successor						Predecessor
	July 2, 2019 through December 31, 2019						January 1, 2019 through July 1, 2019						Year Ended December 31, 2018
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Change in Benefit Obligation
Benefit obligation at beginning of period	$	228		$	678		$	216		$	583		$	238		$	636
Service cost	2			8			2			7			3			17
Interest cost	3			4			4			4			7			10
Actuarial losses (gains)	3			12			14			93			(12		)	(38		)
Foreign currency exchange rate changes	—			(8		)	—			(3		)	—			(32		)
Benefits paid	(8		)	(6		)	(8		)	(6		)	(17		)	(11		)
Expenses paid from assets	(3		)	—			—			—			(3		)	—
Employee contributions	—			—			—			—			—			1
Benefit obligation at end of period	$	225		$	688		$	228		$	678		$	216		$	583
Change in Plan Assets
Fair value of plan assets at beginning of period	$	196		$	470		$	185		$	404		$	213		$	412
Actual return on plan assets	10			9			19			60			(8		)	(1		)
Foreign currency exchange rate changes	—			(5		)	—			(2		)	—			(20		)
Employer contributions	2			15			—			14			—			23
Benefits paid	(8		)	(6		)	(8		)	(6		)	(17		)	(11		)
Expenses paid from assets	(3		)	—			—			—			(3		)	—
Employee contributions	—			—			—			—			—			1
Fair value of plan assets at end of period	197			483			196			470			185			404
Funded status of the plan at end of period	$	(28	)	$	(205	)	$	(32	)	$	(208	)	$	(31	)	$	(179	)

	Non-Pension Postretirement Benefits
	Successor						Predecessor
	July 2, 2019 through December 31, 2019						January 1, 2019 through July 1, 2019						Year Ended December 31, 2018
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Change in Benefit Obligation
Benefit obligation at beginning of period	$	—		$	17		$	—		$	13		$	5		$	11
Interest cost	—			—			—			—			—			1
Actuarial (gains) losses	—			(4		)	—			4			(1		)	2
Foreign currency exchange rate changes	—			—			—			—			—			(1		)
Plan settlements	—			—			—			—			(4		)	—
Benefit obligation at end of period	$	—		$	13		$	—		$	17		$	—		$	13
Change in Plan Assets
Fair value of plan assets at beginning of period	$	—		$	—		$	—		$	—		$	—		$	—
Employer contributions	—			—			—			—			5			—
Plan settlements	—			—			—			—			(5		)	—
Fair value of plan assets at end of period	—			—			—			—			—			—
Funded status of the plan at end of period	$	—		$	(13	)	$	—		$	(17	)	$	—		$	(13	)

Amounts Recognized in the Consolidated Balance Sheet, Accumulated Other Comprehensive Income and Other [Table Text Block]



	Pension Benefits
	Successor						Predecessor
	December 31, 2019						July 1, 2019						December 31, 2018
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Amounts recognized in the Consolidated Balance Sheets consists of:
Noncurrent assets	$	—		$	8		$	—		$	8		$	—		$	—
Other current liabilities	—			(5		)	—			(6		)	—			(5		)
Long-term pension and post employment benefit obligations	(28		)	(208		)	(32		)	(210		)	(31		)	(174		)
Accumulated other comprehensive loss	—			—			—			—			—			—
Net amounts recognized	$	(28	)	$	(205	)	$	(32	)	$	(208	)	$	(31	)	$	(179	)
Amounts recognized in Accumulated other comprehensive income consist of:
Net prior service cost (benefit)	$	—		$	—		$	—		$	—		$	1		$	(1	)
Deferred income taxes	—			—			—			—			(1		)	1
Net amounts recognized	$	—		$	—		$	—		$	—		$	—		$	—
Accumulated benefit obligation	$	225		$	648		$	228		$	634		$	216		$	548
Accumulated benefit obligation for funded plans	225			446			228			431			216			380
Pension plans with underfunded or non-funded accumulated benefit obligations:
Aggregate projected benefit obligation	$	225		$	224		$	228		$	225		$	216		$	187
Aggregate accumulated benefit obligation	225			216			228			217			216			181
Aggregate fair value of plan assets	197			13			196			13			185			12
Pension plans with projected benefit obligations in excess of plan assets:
Aggregate projected benefit obligation	$	225		$	287		$	228		$	286		$	216		$	584
Aggregate fair value of plan assets	197			74			196			71			185			403

	Non-Pension Postretirement Benefits
	Successor						Predecessor
	December 31, 2019						July 1, 2019						December 31, 2018
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Amounts recognized in the Consolidated Balance Sheets consists of:
Noncurrent assets	$	—		$	—		$	—		$	—		$	—		$	—
Other current liabilities	—			(1		)	—			(1		)	—			(1		)
Long-term pension and post employment benefit obligations	—			(12		)	—			(16		)	—			(12		)
Accumulated other comprehensive loss	—			—			—			—			(2		)	—
Net amounts recognized	$	—		$	(13	)	$	—		$	(17	)	$	(2	)	$	(13	)
Amounts recognized in Accumulated other comprehensive income consist of:
Net prior service cost	$	—		$	—		$	—		$	—		$	—		$	1
Deferred income taxes	—			—			—			—			(2		)	(1		)
Net amounts recognized	$	—		$	—		$	—		$	—		$	(2	)	$	—

Schedule of Changes in Projected Benefit Obligations [Table Text Block]

Following are the components of net pension and postretirement expense (benefit) recognized for the period July 2, 2019 through December 31, 2019, January 1, 2019 through July 1, 2019 and the years ended December 31, 2018 and 2017:



	Pension Benefits
	U.S. Plans
	Successor			Predecessor
	July 2, 2019 through December 31, 2019			January 1, 2019 through July 1, 2019			Year ended December 31,
	July 2, 2019 through December 31, 2019			January 1, 2019 through July 1, 2019			2018			2017
Service cost	$	2		$	2		$	3		$	3
Interest cost on projected benefit obligation	3			4			7			7
Expected return on assets	(7		)	(6		)	(14		)	(13		)
Amortization of prior service cost	—			—			—			—
Unrealized actuarial loss (gain)⁽¹⁾	—			1			11			(6		)
Net (benefit) expense	$	(2	)	$	1		$	7		$	(9	)

	Non-U.S. Plans
	Successor			Predecessor
	July 2, 2019 through December 31, 2019			January 1, 2019 through July 1, 2019			Year ended December 31,
	July 2, 2019 through December 31, 2019			January 1, 2019 through July 1, 2019			2018			2017
Service cost	$	8		$	7		$	17		$	16
Interest cost on projected benefit obligation	4			4			10			9
Expected return on assets	(6		)	(6		)	(13		)	(11		)
Amortization of prior service cost (benefit)	—			—			—			(1		)
Unrealized actuarial loss (gain)⁽¹⁾	9			39			(26		)	1
Net expense (benefit)	$	15		$	44		$	(12	)	$	14



	Non-Pension Postretirement Benefits
	U.S. Plans
	Successor			Predecessor
	July 2, 2019 through December 31, 2019			January 1, 2019 through July 1, 2019		Year ended December 31,
	July 2, 2019 through December 31, 2019			January 1, 2019 through July 1, 2019		2018		2017
Interest cost on projected benefit obligation	$	—		$	—	$	—	$	—
Amortization of prior service benefit	—			—		—		—
Unrealized actuarial loss (gain)⁽¹⁾	—			—		—		(1		)
Net (benefit) expense	$	—		$	—	$	—	$	(1	)

	Non-U.S. Plans
	Successor			Predecessor
	July 2, 2019 through December 31, 2019			January 1, 2019 through July 1, 2019		Year ended December 31,
	July 2, 2019 through December 31, 2019			January 1, 2019 through July 1, 2019		2018		2017
Interest cost on projected benefit obligation	$	—		$	—	$	1	$	1
Amortization of prior service benefit	—			—		—		—
Unrealized actuarial loss (gain)⁽¹⁾	(4		)	4		2		1
Net (benefit) expense	$	(4	)	$	4	$	3	$	2

Weighted Average Rates Used to Determine the Benefit Obligations [Table Text Block]

The weighted average rates used to determine the benefit obligations were as follows for the period July 2, 2019 through December 31, 2019, January 1, 2019 through July 1, 2019 and the year ended December 31, 2018:



	Pension Benefits
	Successor				Predecessor
	July 2, 2019 through December 31, 2019				January 1, 2019 through July 1, 2019				Year Ended December 31, 2018
	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
Discount rate	3.1	%	1.2	%	3.3	%	1.3	%	4.1	%	1.9	%
Rate of increase in future compensation levels	—		3.4	%	—		3.4	%	—		2.3	%

	Non-Pension Postretirement Benefits
	Successor				Predecessor
	July 2, 2019 through December 31, 2019				January 1, 2019 through July 1, 2019				Year Ended December 31, 2018
	U.S. Plans⁽¹⁾		Non-U.S. Plans		U.S. Plans⁽¹⁾		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
Discount rate	—	%	5.2	%	—	%	6.9	%	4.1	%	6.3	%
Rate of increase in future compensation levels	—		—		—		—		—		—
The weighted average assumed health care cost trend rates are as follows:
Health care cost trend rate assumed for next year	—	%	5.7	%	—	%	6.2	%	6.4	%	6.2	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	—	%	4.0	%	—	%	4.0	%	4.5	%	4.0	%
Year that the rate reaches the ultimate trend rate	—		2040		—		2040		2029		2040

Weighted Average Rates Used to Determine Net Periodic Pension Expense Benefit [Table Text Block]

The weighted average rates used to determine net periodic pension expense (benefit) were as follows for the period July 2, 2019 through December 31, 2019, January 1, 2019 through July 1, 2019 and the years ended December 31, 2018 and 2017:



	Pension Benefits
	U.S. Plans								Non-U.S. Plans
	Successor		Predecessor						Successor		Predecessor
	July 2, 2019 through December 31, 2019		January 1, 2019 through July 1, 2019		Year ended December 31,				July 2, 2019 through December 31, 2019		January 1, 2019 through July 1, 2019		Year ended December 31,
	July 2, 2019 through December 31, 2019		January 1, 2019 through July 1, 2019		2018		2017		July 2, 2019 through December 31, 2019		January 1, 2019 through July 1, 2019		2018		2017
Discount rate	3.3	%	4.1	%	3.5	%	3.9	%	1.3	%	1.9	%	1.9	%	1.9	%
Rate of increase in future compensation levels	—		—		—		—		3.4	%	2.3	%	2.4	%	2.4	%
Expected long-term rate of return on plan assets	6.6	%	6.6	%	6.7	%	6.7	%	2.6	%	3.1	%	3.1	%	2.9	%

	Non-Pension Postretirement Benefits
	U.S. Plans								Non-U.S. Plans
	Successor⁽¹⁾		Predecessor						Successor		Predecessor
	July 2, 2019 through December 31, 2019		January 1, 2019 through July 1, 2019		Year ended December 31,				July 2, 2019 through December 31, 2019		January 1, 2019 through July 1, 2019		Year ended December 31,
	July 2, 2019 through December 31, 2019		January 1, 2019 through July 1, 2019		2018		2017		July 2, 2019 through December 31, 2019		January 1, 2019 through July 1, 2019		2018		2017
Discount rate	—	%	4.1	%	3.2	%	3.4	%	6.9	%	6.3	%	5.3	%	6.1	%
Rate of increase in future compensation levels	—		—		—		—		—		—		—		—
Expected long-term rate of return on plan assets	—		—		—		—		—		—		—		—

Schedule of Allocation of Plan Assets [Table Text Block]



	Actual				Target 2019
	2019		2018		Target 2019
Weighted average allocations of U.S. pension plan assets at December 31:
Equity securities	35	%	32	%	35	%
Debt securities	53	%	55	%	55	%
Cash, short-term investments and other	12	%	13	%	10	%
Total	100	%	100	%	100	%
Weighted average allocations of non-U.S. pension plan assets at December 31:
Equity securities	22	%	19	%	23	%
Debt securities	75	%	78	%	77	%
Cash, short-term investments and other	3	%	3	%	—	%
Total	100	%	100	%	100	%

Schedule of Fair Value of U.S. Pension Plan Investments [Table Text Block]

The following table presents U.S. pension plan investments measured at fair value on a recurring basis as of December 31, 2019 and 2018:



	Fair Value Measurements Using
	2019								2018
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobserv-able Inputs (Level 3)		Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobserv-able Inputs (Level 3)		Total
Large cap equity funds ⁽¹⁾	$	—	$	37	$	—	$	37	$	—	$	33	$	—	$	33
Small/mid cap equity funds ⁽¹⁾	—		6		—		6		—		5		—		5
International equity funds ⁽¹⁾	—		27		—		27		—		22		—		22
Fixed income securities ⁽¹⁾	—		103		—		103		—		102		—		102
Cash equivalents ⁽²⁾	—		2		—		2		—		3		—		3
	$	—	$	175	$	—	$	175	$	—	$	165	$	—	$	165
Investments measured at fair value using net asset value as a practical expedient:
Other funds ⁽³⁾							$	22							$	20
Total							$	197							$	185

Schedule of Fair Value of non-U.S. Pension Plan Investments [Table Text Block]

The following table presents non-U.S. pension plan investments measured at fair value on a recurring basis as of December 31, 2019 and 2018:



	Fair Value Measurements Using
	2019								2018
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobserv-able Inputs (Level 3)		Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobserv-able Inputs (Level 3)		Total
Pooled insurance products with fixed income guarantee ⁽¹⁾	$	—	$	13	$	—	$	13	$	—	$	12	$	—	$	12
Cash equivalents ⁽²⁾	—		1		—		1		—		—		—		—
	$	—	$	14	$	—	$	14	$	—	$	12	$	—	$	12
Investments measured at fair value using net asset value as a practical expedient:
Other international equity funds ⁽³⁾							$	108							$	77
Other fixed income securities ⁽³⁾							361								315
Total							$	483							$	404

Schedule of Expected Benefit Payments [Table Text Block]

Estimated future plan benefit payments as of December 31, 2019 are as follows:



	Pension Benefits				Non-Pension Postretirement Benefits
Year	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
2020	$	18	$	14	$	—	$	1
2021	18		13		—		—
2022	16		14		—		—
2023	16		15		—		—
2024	16		18		—		—
2025-2029	69		99		—		3