Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

The following table provides the components of net periodic benefit cost for the respective years:


	Defined Benefit Pension Plans
(in $ millions)	Year Ended December 31, 2013			Year Ended December 31, 2012			Year Ended December 31, 2011
Interest cost		24			25			27
Expected return on plan assets		(34	)		(31	)		(31	)
Recognized net actuarial loss		14			13			5

Net periodic benefit cost		4			7			1


	Post-Retirement Benefit Plans
(in $ millions)	Year Ended December 31, 2013			Year Ended December 31, 2012			Year Ended December 31, 2011
Interest cost		—			—			1
Amortization of prior service cost		—			—			(4	)
Recognized net actuarial gain		(1	)		(4	)		(1	)

Net periodic benefit gain		(1	)		(4	)		(4	)

Weighted Average Assumptions to Measure Benefit Obligation

The Company has utilized the following weighted average assumptions to measure the benefit obligation for the defined benefit pension plans and post-retirement benefit plans as of December 31, 2013 and 2012:


	December 31, 2013			December 31, 2012
Defined Benefit Pension Plans
Discount rate		4.8	%		3.6	%
Expected long-term return on plan assets		7.0	%		7.2	%
Post-Retirement Benefit Plans
Discount rate		5.3	%		3.8	%

Fair Values of Company's Pension Plan Assets

The fair values of the Company’s pension plan assets by asset category as of December 31, 2013 are as follows:


	Pension Plan Assets
($ in millions)	Level 1		Level 2		Total
Common & commingled trust funds ⁽¹⁾		—		414		414
Mutual funds ⁽²⁾		98		—		98
Cash equivalents ⁽³⁾		11		—		11

Total		109		414		523

The fair values of the Company’s pension plan assets by asset category as of December 31, 2012 are as follows:


	Pension Plan Assets
($ in millions)	Level 1		Level 2		Total
Common & commingled trust funds ⁽¹⁾		—		438		438
Mutual funds ⁽²⁾		47		—		47
Cash equivalents ⁽³⁾		12		—		12

Total		59		438		497

(1)	The underlying investments held in common & commingled trust funds are actively managed equity securities and fixed income investment vehicles that are valued at the net asset value per share provided by the fund administrator multiplied by the number of units held as of the measurement date.

(2)	Values of units are based on the closing price reported on the major market on which the investments are traded and provided by the fund administrator.

(3)	Cash equivalents comprise of money market funds.

Future Benefit Payments of Defined Benefit Pension and Other Post-Retirement Benefit Plans

The Company estimates its defined benefit pension and other post-retirement benefit plans will pay benefits to participants as follows:


(in $ millions)	Defined Benefit Pension Plans		Post-Retirement Benefit Plans
2014		29		—
2015		32		—
2016		34		—
2017		37		1
2018		42		1
Five years thereafter		299		1

Defined Benefit Pension Plans [Member]

Summary of Changes in Benefit Obligation and Fair Value of Assets

The Company uses a December 31 measurement date for its defined benefit pension and other post-retirement benefit plans. For such plans, the following tables provide a statement of funded status as of December 31, 2013 and 2012, and summaries of the changes in the benefit obligation and fair value of assets for the years then ended:


	Defined Benefit Pension Plans
(in $ millions)	Year Ended December 31, 2013			Year Ended December 31, 2012
Benefit obligation, beginning of year		663			614
Interest cost		24			25
Actuarial (gain) loss		(83	)		44
Benefits paid		(24	)		(24	)
Currency translation adjustment		1			4

Benefit obligation, end of year		581			663

Fair value of plan assets, beginning of year		497			440
Return on plan assets		46			51
Employer contribution		3			26
Benefits paid		(24	)		(24	)
Currency translation adjustment		1			4

Fair value of plan assets, end of year		523			497

Funded status		(58	)		(166	)

Post-Retirement Benefit Plans [Member]

Summary of Changes in Benefit Obligation and Fair Value of Assets

The amount included in accumulated other comprehensive income (loss) that has not been recognized as a component of net periodic benefit expense relating to unrecognized actuarial losses was $76 million (net of deferred tax credit of $1 million) and $184 million as of December 31, 2013 and 2012, respectively.


	Post-Retirement Benefit Plans
(in $ millions)	Year Ended December 31, 2013			Year Ended December 31, 2012
Benefit obligation, beginning of year		8			9
Actuarial gains		(1	)		—
Benefits paid		—			(1	)

Benefits obligation, end of year		7			8

Fair value of plan assets, beginning of year		—			—
Employer contribution		—			1
Benefits paid		—			(1	)

Fair value of plan assets, end of year		—			—

Funded status		(7	)		(8	)