Postemployment Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

Postemployment Benefit Plans

Schedule of weighted-average assumptions used to estimate benefit obligations

	December 31, 2016						December 31, 2015
	U.S.		Non-U.S.		OPEB		U.S.		Non-U.S.		OPEB
	Plans		Plans		Plans		Plans		Plans		Plans
Discount rate	4.26	%	2.69	%	3.08	%	4.55	%	3.59	%	3.13	%
Compensation trend rate	na		2.25	%	na		3.82	%	3.77	%	na

Schedule of weighted-average assumptions used to estimate net periodic benefit costs

	Year ended December 31, 2016						Year ended December 31, 2015						Year ended December 31, 2014
	U.S.		Non-U.S.		OPEB		U.S.		Non-U.S.		OPEB		U.S.		Non-U.S.
	Plans		Plans		Plans		Plans		Plans		Plans		Plans		Plans		OPEB Plans
Discount rate	4.56	%	3.69	%	3.13	%	4.16	%	3.26	%	3.86	%	5.04	%	4.41	%	4.54	%
Expected rate of return	6.82	%	5.85	%	na		7.79	%	5.93	%	na		7.18	%	6.07	%	na
Compensation trend rate	0.22	%	4.01	%	na		0.21	%	3.83	%	na		4.13	%	4.25	%	na
Health care cost trend rate
-initial	na		na		na		na		na		7.81	%	na		na		7.81	%
-ultimate	na		na		na		na		na		5.00	%	na		na		5.00	%
-ultimate year	na		na		na		na		na		2023		na		na		2020

“na” means not applicable.

Schedule of changes in projected benefit obligation, plan assets and funded status and the amounts recognized on consolidated balance sheets

The changes in projected benefit obligation, plan assets and funded status and the amounts recognized on our consolidated balance sheets were as follows (in millions):

	Year ended December 31, 2016								Year ended December 31, 2015
	U.S.		Non-U.S.		OPEB				U.S.		Non-U.S.		OPEB
	Plans		Plans		Plans		Total		Plans		Plans		Plans		Total
Change in projected benefit obligation
Projected benefit obligation, beginning of period	$	1,523	$	502	$	24	$	2,049	$	1,592	$	629	$	59	$	2,280
Actuarial (gains) losses, net		52		36		(3)		85		(71)		(83)		—		(154)
Service cost		3		10		—		13		5		26		1		32
Interest cost		69		17		1		87		65		19		2		86
Plan amendments		—		—		—		—		—		—		(33)		(33)
Currency exchange rate changes		—		(77)		—		(77)		—		(48)		—		(48)
Participant contributions		—		—		1		1		—		1		3		4
Benefits paid		(90)		(46)		(4)		(140)		(65)		(44)		(8)		(117)
Settlements and curtailments		—		(44)		—		(44)		(3)		2		—		(1)
Projected benefit obligation, end of period		1,557		398		19		1,974		1,523		502		24		2,049
Change in plan assets
Fair value of plan assets, beginning of period		1,198		439		—		1,637		1,271		488		—		1,759
Actual return on plan assets		93		84		—		177		(21)		12		—		(9)
Currency exchange rate changes		—		(80)		—		(80)		—		(39)		—		(39)
Employer contributions		3		43		3		49		13		21		5		39
Participant contributions		—		—		1		1		—		1		3		4
Benefits paid		(90)		(46)		(4)		(140)		(65)		(44)		(8)		(117)
Settlements		—		(40)		—		(40)		—		—		—		—
Fair value of plan assets, end of period		1,204		400		—		1,604		1,198		439		—		1,637
Funded status, end of period	$	(353)	$	2	$	(19)	$	(370)	$	(325)	$	(63)	$	(24)	$	(412)
Balance sheet classification, end of period:
Pension asset, non-current	$	—	$	5	$	—	$	5	$	—	$	2	$	—	$	2
Pension liability, current		(2)		—		(3)		(5)		(3)		(3)		(3)		(9)
Pension liability, non-current		(351)		(3)		(16)		(370)		(322)		(62)		(21)		(405)
Accumulated other comprehensive income (loss) (a)		(316)		(94)		23		(387)		(281)		(119)		25		(375)

(a) Amounts are before income tax effect.

Schedule of aggregate projected benefit obligation and fair value of plan assets for plans with a projected benefit obligation in excess of plan assets

The aggregate projected benefit obligation and fair value of plan assets for plans with a projected benefit obligation in excess of plan assets were as follows (in millions):

	December 31, 2016								December 31, 2015
	U.S.		Non-U.S.		OPEB				U.S.		Non-U.S.		OPEB
	Plans		Plans		Plans		Total		Plans		Plans		Plans		Total
Projected benefit obligation	$	1,557	$	5	$	19	$	1,581	$	1,523	$	502	$	24	$	2,049
Fair value of plan assets		1,204		2		—		1,206		1,198		439		—		1,637

Schedule of aggregate accumulated benefit obligation and fair value of plan assets for plans with an accumulated benefit obligation in excess of plan assets

The aggregate accumulated benefit obligation and fair value of plan assets for plans with an accumulated benefit obligation in excess of plan assets were as follows (in millions):

	December 31, 2016								December 31, 2015
	U.S.		Non-U.S.		OPEB				U.S.		Non-U.S.		OPEB
	Plans		Plans		Plans		Total		Plans		Plans		Plans		Total
Accumulated benefit obligation	$	1,557	$	4	$	19	$	1,580	$	1,523	$	374	$	24	$	1,921
Fair value of plan assets		1,204		—		—		1,204		1,198		352		—		1,550

Schedule of weighted average target and actual allocations of the investments of Transocean benefit plans

	December 31, 2016									December 31, 2015
		Target allocation				Actual allocation				Target allocation				Actual allocation
		U.S.		Non-U.S.		U.S.		Non-U.S.		U.S.		Non-U.S.		U.S.		Non-U.S.
		Plans		Plans		Plans		Plans		Plans		Plans		Plans		Plans
Equity securities		50	%	45	%	53	%	45	%	50	%	56	%	47	%	49	%
Fixed income securities		50	%	45	%	47	%	44	%	50	%	16	%	52	%	26	%
Other investments		—		10	%	—		11	%	—		28	%	1	%	25	%
Total		100	%	100	%	100	%	100	%	100	%	100	%	100	%	100	%

Schedule of fair value of the assets of Transocean benefit plans by asset category and their level within the fair value hierarchy

As of December 31, 2016, the investments for our funded Transocean Plans were categorized as follows (in millions):

	December 31, 2016
	Significant observable inputs						Significant other observable inputs						Total
	U.S.		Non-U.S.		Transocean		U.S.		Non-U.S.		Transocean		U.S.		Non-U.S.		Transocean
	Plans		Plans		Plans		Plans		Plans		Plans		Plans		Plans		Plans
Mutual funds
U.S. equity funds	$	516	$	—	$	516	$	2	$	—	$	2	$	518	$	—	$	518
Non-U.S. equity funds		113		—		113		4		181		185		117		181		298
Bond funds		567		—		567		—		178		178		567		178		745
Total mutual funds		1,196		—		1,196		6		359		365		1,202		359		1,561
Other investments
Cash and money market funds		2		2		4		—		—		—		2		2		4
Property collective trusts		—		—		—		—		17		17		—		17		17
Investment contracts		—		—		—		—		22		22		—		22		22
Total other investments		2		2		4		—		39		39		2		41		43
Total investments	$	1,198	$	2	$	1,200	$	6	$	398	$	404	$	1,204	$	400	$	1,604

As of December 31, 2015, the investments for our funded Transocean Plans were categorized as follows (in millions):

	December 31, 2015
	Significant observable inputs						Significant other observable inputs						Total
	U.S.		Non-U.S.		Transocean		U.S.		Non-U.S.		Transocean		U.S.		Non-U.S.		Transocean
	Plans		Plans		Plans		Plans		Plans		Plans		Plans		Plans		Plans
Mutual funds
U.S. equity funds	$	459	$	—	$	459	$	—	$	36	$	36	$	459	$	36	$	495
Non-U.S. equity funds		104		2		106		3		179		182		107		181		288
Bond funds		626		—		626		—		115		115		626		115		741
Total mutual funds		1,189		2		1,191		3		330		333		1,192		332		1,524
Other investments
Cash and money market funds		6		—		6		—		—		—		6		—		6
Property collective trusts		—		—		—		—		20		20		—		20		20
Investment contracts		—		—		—		—		87		87		—		87		87
Total other investments		6		—		6		—		107		107		6		107		113
Total investments	$	1,195	$	2	$	1,197	$	3	$	437	$	440	$	1,198	$	439	$	1,637

Schedule of Net Periodic Benefit Costs Before Tax

Net periodic benefit costs, before tax, included the following components (in millions):

	Year ended December 31, 2016						Year ended December 31, 2015						Year ended December 31, 2014
	U.S.		Non-U.S.		Transocean		U.S.		Non-U.S.		Transocean		U.S.		Non-U.S.		Transocean
	Plans		Plans		Plans		Plans		Plans		Plans		Plans		Plans		Plans
Net periodic benefit costs
Service cost	$	3	$	10	$	13	$	5	$	26	$	31	$	39	$	29	$	68
Interest cost		69		17		86		65		19		84		64		27		91
Expected return on plan assets		(80)		(25)		(105)		(87)		(28)		(115)		(75)		(28)		(103)
Settlements and curtailments		—		(5)		(5)		3		2		5		(7)		3		(4)
Actuarial (gain) loss, net		5		(1)		4		11		11		22		17		5		22
Prior service cost, net		—		—		—		—		—		—		(1)		—		(1)
Net periodic benefit costs	$	(3)	$	(4)	$	(7)	$	(3)	$	30	$	27	$	37	$	36	$	73

Schedule of amounts in accumulated other comprehensive income, before tax, that have not been recognized as components of net periodic benefit costs

The following table presents the amounts in accumulated other comprehensive income (loss), before tax, that have not been recognized as components of net periodic benefit costs (in millions):

	December 31, 2016								December 31, 2015
	U.S.		Non-U.S.		OPEB				U.S.		Non-U.S.		OPEB
	Plans		Plans		Plans		Total		Plans		Plans		Plans		Total
Actuarial gain (loss), net	$	(316)	$	(94)	$	(3)	$	(413)	$	(281)	$	(119)	$	(6)	$	(406)
Prior service cost, net		—		—		26		26		—		—		31		31
Total	$	(316)	$	(94)	$	23	$	(387)	$	(281)	$	(119)	$	25	$	(375)

Schedule of amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit costs in next fiscal year

The following table presents the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit costs during the year ending December 31, 2017 (in millions):

	Year ending December 31, 2017
	U.S.		Non-U.S.		OPEB
	Plans		Plans		Plans		Total
Actuarial loss, net	$	5	$	1	$	—	$	6
Prior service cost, net		—		—		(3)		(3)
Total amount expected to be recognized	$	5	$	1	$	(3)	$	3

Schedule of projected benefits payments

The following were the projected benefits payments (in millions):

	U.S.		Non-U.S.		OPEB
	Plans		Plans		Plans		Total
Years ending December 31,
2017	$	64	$	7	$	3	$	74
2018		68		6		3		77
2019		71		8		3		82
2020		74		8		2		84
2021		78		9		2		89
2022 - 2026		417		59		7		483