XML 118 R87.htm IDEA: XBRL DOCUMENT v3.20.4
Non-U.S. Pension Plan Investments Measured at Fair Value (Details) - Foreign Plan [Member] - Pension Plan [Member] - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
Jul. 01, 2019
Dec. 31, 2018
Pooled Insurance Products with Fixed Income Guarantee [1] $ 15 $ 13    
Cash, Money Market and Other [2] 0 1    
Defined Benefit Plan, Plan Assets, Amount 614 483 $ 470 $ 404
Fair value of plan assets at end of year subtotal 15 14    
Other international equity funds [3] 135 108    
Other fixed income securities [3] 464 361    
Fair Value, Inputs, Level 1 [Member]        
Pooled Insurance Products with Fixed Income Guarantee [1] 0 0    
Cash, Money Market and Other [2] 0 0    
Defined Benefit Plan, Plan Assets, Amount 0 0    
Fair Value, Inputs, Level 2 [Member]        
Pooled Insurance Products with Fixed Income Guarantee [1] 15 13    
Cash, Money Market and Other [2] 0 1    
Defined Benefit Plan, Plan Assets, Amount 15 14    
Fair Value, Inputs, Level 3 [Member]        
Pooled Insurance Products with Fixed Income Guarantee [1] 0 0    
Cash, Money Market and Other [2] 0 0    
Defined Benefit Plan, Plan Assets, Amount $ 0 $ 0    
[1] Level 2 equity and fixed income securities are primarily in pooled asset and mutual funds and are valued based on underlying net asset value multiplied by the number of shares held. The underlying asset values are based on observable inputs and quoted market prices.
[2] Cash equivalents represent investment in a collective short term investment fund, which is a cash sweep for uninvested cash that earns interest monthly. For these investments, book value is assumed to equal fair value due to the short duration of the investment term.
[3] Represents investments in commingled funds with exposure to a variety of hedge fund strategies, which are not publicly traded and have ongoing redemption restrictions. The Company’s interest in these investments is measured at net asset value per share as a practical expedient for fair value, which is derived from the underlying asset values in these funds, only some of which represent observable inputs and quoted market prices