XML 121 R40.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
PENSION AND POSTRETIREMENT BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Components of pension and postretirement amounts recognized in the balance sheets
 
As of December 31,
 
2019
 
2018
 
2019
 
2018
 
Pension Benefits
 
Postretirement Benefits
Amounts recognized in the balance sheet:
(in millions)
Accrued liabilities
$

 
$

 
$
(3
)
 
$
(2
)
Other long-term liabilities
(18
)
 
(14
)
 
(113
)
 
(82
)
 
$
(18
)
 
$
(14
)
 
$
(116
)
 
$
(84
)
 
 
 
 
 
 
 
 
Amounts recognized in accumulated other comprehensive (loss) income:
$
(6
)
 
$
(10
)
 
$
(17
)
 
$
4


Funding status of plans
 
As of December 31,
 
2019
 
2018
 
2019
 
2018
 
Pension Benefits
 
Postretirement Benefits
Amounts recognized in the balance sheet:
(in millions)
Accrued liabilities
$

 
$

 
$
(3
)
 
$
(2
)
Other long-term liabilities
(18
)
 
(14
)
 
(113
)
 
(82
)
 
$
(18
)
 
$
(14
)
 
$
(116
)
 
$
(84
)
 
 
 
 
 
 
 
 
Amounts recognized in accumulated other comprehensive (loss) income:
$
(6
)
 
$
(10
)
 
$
(17
)
 
$
4


 
As of December 31,
 
2019
 
2018
 
2019
 
2018
 
Pension Benefits
 
Postretirement Benefits
Changes in the benefit obligation:
(in millions)
Benefit obligation—beginning of year
$
56

 
$
65

 
$
84

 
$
93

Service cost—benefits earned during the period
1

 
1

 
4

 
4

Interest cost on projected benefit obligation
2

 
2

 
4

 
4

Actuarial loss (gain)
11

 
(2
)
 
19

 
(14
)
Cost of special termination benefits

 

 
6

 

Curtailment

 

 
2

 

Benefits paid
(25
)
 
(10
)
 
(3
)
 
(3
)
Benefit obligation—end of year
$
45

 
$
56

 
$
116

 
$
84

 
 
 
 
 
 
 
 
Changes in plan assets:
 

 
 

 
 

 
 

Fair value of plan assets—beginning of year
$
42

 
$
46

 
$

 
$

Actual gain (loss) on plan assets
7

 
(2
)
 

 

Employer contributions
3

 
8

 
3

 
3

Benefits paid
(25
)
 
(10
)
 
(3
)
 
(3
)
Fair value of plan assets—end of year
$
27

 
$
42

 
$

 
$

Unfunded status
$
(18
)
 
$
(14
)
 
$
(116
)
 
$
(84
)

Schedule of defined benefit pension plans with accumulated benefit obligations in excess of plan assets
 
2019
 
2018
 
(in millions)
Projected Benefit Obligation
$
45

 
$
56

Accumulated Benefit Obligation
$
41

 
$
53

Fair Value of Plan Assets
$
27

 
$
42


Schedule of Net Benefit Costs [Table Text Block]
 
For the years ended December 31,
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
 
Pension Benefits
 
Postretirement Benefits
Net periodic benefit costs:
(in millions)
Service cost—benefits earned during the period
$
1

 
$
1

 
$
1

 
$
4

 
$
4

 
$
3

Interest cost on projected benefit obligation
2

 
2

 
2

 
4

 
4

 
4

Expected return on plan assets
(2
)
 
(3
)
 
(3
)
 

 

 

Cost of special termination benefits

 

 

 
6

 

 

Amortization of net actuarial loss
1

 
2

 
2

 

 

 

Settlement costs
9

 
4

 
5

 

 

 

Net periodic benefit cost
$
11

 
$
6

 
$
7

 
$
14

 
$
8

 
$
7


Amounts recognized in other comprehensive income (expense)
 
For the years ended December 31,
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
 
Pension Benefits
 
Postretirement Benefits
Net periodic benefit costs:
(in millions)
Service cost—benefits earned during the period
$
1

 
$
1

 
$
1

 
$
4

 
$
4

 
$
3

Interest cost on projected benefit obligation
2

 
2

 
2

 
4

 
4

 
4

Expected return on plan assets
(2
)
 
(3
)
 
(3
)
 

 

 

Cost of special termination benefits

 

 

 
6

 

 

Amortization of net actuarial loss
1

 
2

 
2

 

 

 

Settlement costs
9

 
4

 
5

 

 

 

Net periodic benefit cost
$
11

 
$
6

 
$
7

 
$
14

 
$
8

 
$
7


 
For the years ended December 31,
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
Amounts recognized in other comprehensive income (loss):
Pension Benefits
 
Postretirement Benefits
(in millions)
Net actuarial (loss) gain
$
(6
)
 
$
(3
)
 
$
(4
)
 
$
(19
)
 
$
14

 
$
(12
)
Settlement costs
9

 
4

 
5

 
(2
)
 

 

Amortization of net actuarial gain/loss
1

 
2

 
2

 

 

 

Total recognized in other comprehensive income (loss)
$
4

 
$
3

 
$
3

 
$
(21
)
 
$
14

 
$
(12
)

Weighted-average assumptions used to determine benefit obligations and net periodic benefit cost
 
For the years ended December 31,
 
2019
 
2018
 
2019
 
2018
Benefit Obligation Assumptions:
Pension Benefits
 
Postretirement Benefits
Discount rate
3.16
%
 
4.22
%
 
3.48
%
 
4.57
%
Rate of compensation increase
4.00
%
 
4.00
%
 

 

Net Periodic Benefit Cost Assumptions:
 
 
 
 
 
 
 
Discount rate
4.22
%
 
3.53
%
 
4.57
%
 
3.87
%
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
 
Fair Value Measurements at
December 31, 2019
 
Level 1
 
Level 2
 
Level 3
 
Total
Asset Class:
(in millions)
Cash equivalents
$

 
$

 
$

 
$

Commingled funds:
 
 
 
 
 
 
 
Fixed income

 
3

 

 
3

U.S. equity

 
4

 

 
4

International equity

 
2

 

 
2

Mutual funds:
 

 
 
 
 

 
 
Bond funds
5

 

 

 
5

Blend funds
2

 

 

 
2

Value funds
2

 

 

 
2

Growth funds
2

 

 

 
2

Guaranteed deposit account

 

 
7

 
7

Total pension plan assets
$
11

 
$
9

 
$
7

 
$
27


 
Fair Value Measurements at
December 31, 2018
 
Level 1
 
Level 2
 
Level 3
 
Total
Asset Class:
(in millions)
Cash equivalents
$
1

 
$

 
$

 
$
1

Commingled funds:
 
 
 
 
 
 
 
Fixed income

 
9

 

 
9

U.S. equity

 
9

 

 
9

International equity

 
5

 

 
5

Mutual funds:
 

 
 
 
 

 
 
Bond funds
5

 

 

 
5

Blend funds
2

 

 

 
2

Value funds
2

 

 

 
2

Growth funds
2

 

 

 
2

Guaranteed deposit account

 

 
7

 
7

Total pension plan assets
$
12

 
$
23

 
$
7

 
$
42


Estimated future undiscounted benefit payments, which reflect expected future service, as appropriate
 
Pension
Benefits
 
Postretirement
Benefits
For the years ended December 31,
(in millions)
2020
$
10

 
$
4

2021
$
4

 
$
5

2022
$
2

 
$
5

2023
$
3

 
$
5

2024
$
2

 
$
5

2025 - 2029
$
11

 
$
27