Pensions and Other Post-Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2015

Compensation And Retirement Disclosure [Abstract]

A summary of the activity for the Pension Plans follows:

	Year Ended December 31, 2015
	The			United
(IN MILLIONS)	Netherlands			States			Other			Total
Change in projected benefit obligation
Benefit obligation at beginning of period	$	784		$	380		$	698		$	1,862
Service cost		4			—			13			17
Interest cost		14			16			20			50
Plan participants’ contributions		1			—			1			2
Actuarial gains		(53	)		(4	)		(31	)		(88	)
Benefits paid		(29	)		(12	)		(21	)		(62	)
Expenses paid		(2	)		—			(2	)		(4	)
Premiums paid		—			—			(1	)		(1	)
Curtailments		—			—			(3	)		(3	)
Settlements		—			(46	)		(6	)		(52	)
Effect of foreign currency translation		(80	)		—			(52	)		(132	)
Benefit obligation at end of period		639			334			616			1,589
Change in plan assets
Fair value of plan assets at beginning of period		711			301			562			1,574
Actual return on plan assets		9			(13	)		22			18
Employer contributions		5			1			19			25
Plan participants’ contributions		1			—			1			2
Benefits paid		(29	)		(12	)		(21	)		(62	)
Expenses paid		(2	)		—			(2	)		(4	)
Premiums paid		—			—			(1	)		(1	)
Settlements		—			(46	)		(6	)		(52	)
Effect of foreign currency translation		(73	)		—			(43	)		(116	)
Fair value of plan assets at end of period		622			231			531			1,384
Funded status	$	(17	)	$	(103	)	$	(85	)	$	(205	)
Amounts recognized in the Consolidated Balance Sheets
Pension assets included in other non-current assets		—			—			22			22
Current liabilities		—			(1	)		(2	)		(3	)
Accrued benefit liability included in other non-current liabilities		(17	)		(102	)		(105	)		(224	)
Net amount recognized	$	(17	)	$	(103	)	$	(85	)	$	(205	)
Amounts recognized in Accumulated Other Comprehensive Income/(Loss), before tax
Net loss/(gain)	$	(54	)	$	30		$	(36	)	$	(60	)
Amortization of prior service costs		—			—			1			1
Settlement loss		—			(14	)		(1	)		(15	)
Amortization of net loss		(8	)		(7	)		(8	)		(23	)
Total recognized in other comprehensive income/(loss)	$	(62	)	$	9		$	(44	)	$	(97	)
Amounts not yet reflected in net periodic benefit cost and included in Accumulated Other Comprehensive Income/(Loss), before tax
Unrecognized losses	$	161		$	105		$	100		$	366

	Year Ended December 31, 2014
	The			United
(IN MILLIONS)	Netherlands			States			Other			Total
Change in projected benefit obligation
Benefit obligation at beginning of period	$	761		$	336		$	643		$	1,740
Service cost		4			1			14			19
Interest cost		25			16			26			67
Plan participants’ contributions		—			—			2			2
Actuarial losses		137			52			131			320
Benefits paid		(35	)		(12	)		(22	)		(69	)
Expenses paid		(2	)		—			(3	)		(5	)
Premiums paid		—			—			(1	)		(1	)
Amendments		(4	)		—			—			(4	)
Curtailments		—			(1	)		—			(1	)
Settlements		—			(12	)		(29	)		(41	)
Effect of foreign currency translation		(102	)		—			(63	)		(165	)
Benefit obligation at end of period		784			380			698			1,862
Change in plan assets
Fair value of plan assets at beginning of period		736			298			554			1,588
Actual return on plan assets		90			26			86			202
Employer contributions		11			1			23			35
Plan participants’ contributions		—			—			2			2
Benefits paid		(35	)		(12	)		(22	)		(69	)
Expenses paid		(2	)		—			(3	)		(5	)
Premiums paid		—			—			(1	)		(1	)
Settlements		—			(12	)		(29	)		(41	)
Acquisition		6			—			—			6
Effect of foreign currency translation		(95	)		—			(48	)		(143	)
Fair value of plan assets at end of period		711			301			562			1,574
Funded status	$	(73	)	$	(79	)	$	(136	)	$	(288	)
Amounts recognized in the Consolidated Balance Sheets
Pension assets included in other non-current assets		—			—			35			35
Current liabilities		—			(1	)		(2	)		(3	)
Accrued benefit liability included in other non-current liabilities		(73	)		(78	)		(169	)		(320	)
Net amount recognized	$	(73	)	$	(79	)	$	(136	)	$	(288	)
Amounts recognized in Accumulated Other Comprehensive Income/(Loss), before tax
Net loss/(gain)	$	45		$	46		$	65		$	156
Settlement loss		—			(1	)		(6	)		(7	)
Amortization of net loss		(5	)		(4	)		(3	)		(12	)
Total recognized in other comprehensive income/(loss)	$	40		$	41		$	56		$	137
Amounts not yet reflected in net periodic benefit cost and included in Accumulated Other Comprehensive Income/(Loss), before tax
Unrecognized losses	$	223		$	96		$	144		$	463

Total Accumulated Benefit Obligation and Minimum Liability Changes for Pension Plans

The total accumulated benefit obligation and minimum liability changes for the Pension Plans were as follows:

	Year Ended		Year Ended		Year Ended
	December 31,		December 31,		December 31,
(IN MILLIONS)	2015		2014		2013
Accumulated benefit obligation.	$	1,548	$	1,803	$	1,683

	Pension Plans with Accumulated
	Benefit Obligation in Excess of Plan
	Assets at December 31, 2015
	The		United
(IN MILLIONS)	Netherlands		States		Other		Total
Projected benefit obligation	$	578	$	334	$	509	$	1,421
Accumulated benefit obligation		577		334		470		1,381
Fair value of plan assets		560		231		402		1,193

	Pension Plans with Projected
	Benefit Obligation in Excess of Plan
	Assets at December 31, 2015
	The		United
(IN MILLIONS)	Netherlands		States		Other		Total
Projected benefit obligation	$	578	$	334	$	509	$	1,421
Accumulated benefit obligation		577		334		470		1,381
Fair value of plan assets		560		231		402		1,193

	Pension Plans with Accumulated
	Benefit Obligation in Excess of Plan
	Assets at December 31, 2014
	The		United
(IN MILLIONS)	Netherlands		States		Other		Total
Projected benefit obligation	$	784	$	380	$	590	$	1,754
Accumulated benefit obligation		783		380		537		1,700
Fair value of plan assets		711		301		419		1,431

	Pension Plans with Projected
	Benefit Obligation in Excess of Plan
	Assets at December 31, 2014
	The		United
(IN MILLIONS)	Netherlands		States		Other		Total
Projected benefit obligation	$	784	$	380	$	590	$	1,754
Accumulated benefit obligation		783		380		537		1,700
Fair value of plan assets		711		301		419		1,431

Net Periodic Benefit Cost

Net periodic benefit cost for the years ended December 31, 2015, 2014 and 2013, respectively, includes the following components:

	Net Periodic Pension Costs
	The			United
(IN MILLIONS)	Netherlands			States			Other			Total
Year ended December 31, 2015
Service cost	$	4		$	—		$	13		$	17
Interest cost		14			16			20			50
Expected return on plan assets		(30	)		(21	)		(31	)		(82	)
Settlement loss recognized		—			14			1			15
Amortization of prior service costs		—			—			(1	)		(1	)
Amortization of net loss		8			7			8			23
Net periodic pension cost	$	(4	)	$	16		$	10		$	22
Year ended December 31, 2014
Service cost	$	4		$	1		$	14		$	19
Interest cost		25			16			26			67
Expected return on plan assets		(35	)		(21	)		(35	)		(91	)
Settlement loss recognized		—			1			6			7
Amortization of net loss		5			4			3			12
Net periodic pension cost	$	(1	)		1			14			14
Year ended December 31, 2013
Service cost	$	4		$	—		$	15		$	19
Interest cost		25			13			24			62
Expected return on plan assets		(34	)		(18	)		(31	)		(83	)
Amortization of net loss		6			5			6			17
Net periodic pension cost	$	1		$	—		$	14		$	15

Component of Accumulated Other Comprehensive Income/(Loss) Expected to be Recognized

The deferred loss included as a component of accumulated other comprehensive income/(loss) that is expected to be recognized as a component of net periodic benefit cost during 2016 is as follows:

The

Netherlands

United

States

Other

Total

Net actuarial loss

)

(17

)

Weighted Average Assumptions Underlying Pension Computations

The weighted average assumptions underlying the pension computations were as follows:

	Year Ended December 31,
(IN MILLIONS)	2015			2014			2013
Pension benefit obligation:
—discount rate		3.2	%		2.8	%		4.1	%
—rate of compensation increase		1.7	%		2.0	%		2.1	%
Net periodic pension costs:
—discount rate		2.8	%		4.1	%		3.8	%
—rate of compensation increase		2.0	%		2.1	%		2.1	%
—expected long-term return on plan assets		6.0	%		6.0	%		6.0	%

Weighted Average Asset Allocation by Asset Category

Nielsen’s pension plans’ weighted average asset allocations by asset category are as follows:

	The			United
	Netherlands			States			Other			Total
At December 31, 2015
Equity securities		25	%		54	%		42	%		36	%
Fixed income securities		59			45			41			50
Other		16			1			17			14
Total		100	%		100	%		100	%		100	%
At December 31, 2014
Equity securities		24	%		58	%		44	%		37	%
Fixed income securities		61			33			49			51
Other		15			9			7			12
Total		100	%		100	%		100	%		100	%

Assets at Fair Value

Assets at fair value (See Note 8 – “Fair Value Measurements” for additional information on fair value measurement and the underlying fair value hierarchy) as of December 31, 2015 and 2014 are as follows:

(IN MILLIONS)	December 31, 2015								December 31, 2014
Asset Category	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash and equivalents	$	8	$	—	$	—	$	8	$	37	$	1	$	—	$	38
Equity securities – U.S.		25		67		—		92		80		13		—		93
Equity securities – Global.		5		214		—		219		4		292		—		296
Equity securities – non-U.S.		23		169		—		192		29		171		—		200
Real estate		—		—		33		33		—		—		39		39
Corporate bonds		104		410		—		514		111		413		—		524
Debt issued by national, state or local government		54		128		—		182		55		225		—		280
Other		—		14		130		144		—		16		88		104
Total Assets at Fair Value	$	219	$	1,002	$	163	$	1,384		316		1,131	$	127	$	1,574

Summary of Changes in Fair Value of Pension Plans Level 3 Assets

The following is a summary of changes in the fair value of the Pension Plans’ Level 3 assets for the years ended December 31, 2015 and 2014:

(IN MILLIONS)	Real Estate			Other			Total
Balance, end of year December 31, 2013	$	39		$	81		$	120
Actual return on plan assets:
Investments		4			—			4
Unrealized gains		—			17			17
Effect of foreign currency translation		(4	)		(10	)		(14	)
Balance, end of year December 31, 2014	$	39		$	88		$	127
Actual return on plan assets:
(Sales)/investments		(5	)		50			45
Unrealized gains		3			1			4
Effect of foreign currency translation		(4	)		(9	)		(13	)
Balance, end of year December 31, 2015	$	33		$	130		$	163

Estimated Future Benefit Payments

Estimated future benefit payments are as follows:

	The		United
(IN MILLIONS)	Netherlands		States		Other		Total
For the years ending December 31,
2016	$	29	$	14	$	24	$	67
2017		29		14		19		62
2018		30		15		19		64
2019		30		15		20		65
2020		30		16		22		68
2021-2025		149		92		127		368