RETIREMENT AND POSTRETIREMENT BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2016

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS

Components of amounts recognized in the balance sheets

The following tables show the amounts recognized in our balance sheets related to pension and postretirement benefit plans, as well as plans that we or our subsidiaries sponsor, and their funding status, obligations and plan asset fair values (in millions):

	Pension Benefits						Postretirement Benefits
	As of December 31,
	2016			2015			2016			2015
Amounts recognized in the balance sheet:
Accrued liabilities	$	—		$	—		$	(2	)	$	(1	)
Other long-term liabilities	(26		)	(27		)	(75		)	(70		)
	$	(26	)	$	(27	)	$	(77	)	$	(71	)
Amounts recognized in accumulated other comprehensive income (loss):	$	(18	)	$	(19	)	$	4		$	4

Funding status of plans

	Pension Benefits						Postretirement Benefits
	2016			2015			2016			2015
Changes in the benefit obligation:
Benefit obligation—beginning of year	$	83		$	108		$	71		$	68
Service cost—benefits earned during the period	1			4			3			5
Interest cost on projected benefit obligation	3			4			3			3
Curtailment (gain) loss	—			(12		)	—			5
Actuarial loss (gain)	7			24			1			(10		)
Benefits paid	(24		)	(45		)	(1		)	—
Benefit obligation—end of year	$	70		$	83		$	77		$	71
Changes in plan assets:
Fair value of plan assets—beginning of year	$	56		$	87		$	—		$	—
Actual return on plan assets	2			1			—			—
Employer contributions	10			13			1			—
Benefits paid	(24		)	(45		)	(1		)	—
Fair value of plan assets—end of year	$	44		$	56		$	—		$	—
Unfunded status	$	(26	)	$	(27	)	$	(77	)	$	(71	)

Schedule of defined-benefit pension plans with accumulated benefit obligations in excess of plan assets

	2016		2015
	(in millions)
Projected Benefit Obligation	$	70	$	83
Accumulated Benefit Obligation	$	67	$	81
Fair Value of Plan Assets	$	44	$	56

Components of the net periodic benefit costs

	Pension Benefits									Postretirement Benefits
	2016			2015			2014			2016		2015		2014
	(in millions)
Net periodic benefit costs:
Service cost—benefits earned during the period	$	1		$	4		$	4		$	3	$	5	$	4
Interest cost on projected benefit obligation	3			4			4			3		3		2
Expected return on plan assets	(3		)	(5		)	(6		)	—		—		—
Amortization of net actuarial loss (gain)	2			3			2			—		—		1
Settlement cost	8			18			2			—		—		—
Curtailment loss	—			—			—			—		5		—
Net periodic benefit cost	$	11		$	24		$	6		$	6	$	13	$	7

Amounts recognized in other comprehensive income (expense)

	Pension Benefits									Postretirement Benefits
	2016			2015			2014			2016		2015		2014
	(in millions)
Amounts recognized in other comprehensive income (loss):
Net actuarial (loss) gain	$	(9	)	$	(28	)	$	(6	)	$	—	$	9	$	1
Net prior service (cost) credit	—			12			—			—		—		—
Settlement cost	8			18			2			—		—		—
Transfer adjustment	—			—			—			—		—		2
Amortization of net actuarial gain/loss	2			3			2			—		—		1
Total recognized in other comprehensive income (loss)	$	1		$	5		$	(2	)	$	—	$	9	$	4

Weighted-average assumptions used to determine benefit obligations and net periodic benefit cost

	Pension Benefits				Postretirement Benefits
	For the years ended December 31,
	2016		2015		2016		2015
Benefit Obligation Assumptions:
Discount rate	3.88	%	3.99	%	4.58	%	4.81	%
Rate of compensation increase	4.00	%	4.00	%	—		—
Net Periodic Benefit Cost Assumptions:
Discount rate	3.99	%	3.82	%	4.81	%	4.44	%
Assumed long-term rate of return on assets	6.50	%	6.50	%	—		—
Rate of compensation increase	4.00	%	4.00	%	—		—

Fair values of pension plan assets by asset category

The fair values of our pension plan assets by asset category are as follows (in millions):

	Fair Value Measurements at December 31, 2016 Using
	Level 1		Level 2		Level 3		Total
Asset Class:
Cash equivalents	$	3	$	—	$	—	$	3
Commingled funds:
Fixed income	—		9		—		9
U.S. equity	—		10		—		10
International equity	—		6		—		6
Mutual funds:
Bond funds	4		—		—		4
Blend funds	2		—		—		2
Value funds	2		—		—		2
Growth funds	2		—		—		2
Guaranteed deposit account	—		—		6		6
Total pension plan assets	$	13	$	25	$	6	$	44

	Fair Value Measurements at December 31, 2015 Using
	Level 1		Level 2		Level 3		Total
Asset Class:
Commingled funds:
Fixed income	$	—	$	15	$	—	$	15
U.S. equity	—		16		—		16
International equity	—		10		—		10
Mutual funds:
Bond funds	4		—		—		4
Blend funds	2		—		—		2
Value funds	1		—		—		1
Growth funds	2		—		—		2
Guaranteed deposit account	—		—		6		6
Total pension plan assets	$	9	$	41	$	6	$	56

Estimated future benefit payments, which reflect expected future service, as appropriate

For the years ended December 31,	Pension Benefits		Postretirement Benefits
	(in millions)
2017	$	18	$	3
2018	$	9	$	3
2019	$	5	$	3
2020	$	5	$	3
2021	$	5	$	4
2022 - 2026	$	20	$	21