Pension and Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2018

		Pension				Other Postretirement
		Benefits				Benefits
(In millions)	2018		2017		2018		2017
Change in benefit obligation
Benefit obligation, January 1	$	4,969	$	4,888	$	258	$	277
Service cost		3		3		-		-
Interest cost		169		186		8		9
Assumed in acquisition		137		-		-		-
Partial litigation settlement-attorneys' fees		32		-		-		-
(Gain) loss from past experience		(235)	⁽¹⁾	181	⁽²⁾	(31)		1
Benefits paid from plan assets		(314)		(277)		-		(3)
Benefits paid — other		(20)		(12)		(25)		(26)
Benefit obligation, December 31		4,741		4,969		210		258
Change in plan assets
Fair value of plan assets, January 1		4,281		3,977		2		5
Assumed in acquisition		96		-		-		-
Actual return on plan assets		85		418		-		-
Benefits paid		(314)		(277)		(2)		(3)
Contributions		3		163		-		-
Fair value of plan assets, December 31		4,151		4,281		-		2
Funded status	$	(590)	$	(688)	$	(210)	$	(256)

Liability in Consolidated Balance Sheets
Accrued expenses and other liabilities	$	(30)	$	(25)	$	(23)	$	(27)
Other non-current liabilities	$	(560)	$	(663)	$	(187)	$	(229)
(1) Gain reflects an increase in the discount rate and a favorable change in the mortality assumption.
(2) Loss reflects a decrease in the discount rate, partially offset by a favorable change in the mortality assumption.

	Pension				Other
	Benefits				Postretirement Benefits
(In millions)	2018		2017		2018		2017
Unrecognized net gains (losses)	$	(1,980)	$	(2,113)	$	32	$	-
Unrecognized prior service cost		(6)		(6)		44		46
Postretirement benefits liability adjustment	$	(1,986)	$	(2,119)	$	76	$	46

	Pension Benefits						Other Postretirement Benefits
(In millions)	2018		2017		2016		2018		2017		2016
Service cost	$	3	$	3	$	2	$	-	$	-	$	-
Interest cost		169		186		199		8		9		11
Expected long-term return on plan assets		(257)		(260)		(249)		-		-		-
Partial litigation settlement - attorneys' fees		32		-		-		-		-		-
Amortization of:
Net loss from past experience		70		66		65		1		1		1
Prior service cost		-		-		1		(2)		(3)		(3)
Settlement loss		-		7		-		-		-		-
Net plan cost	$	17	$	2	$	18	$	7	$	7	$	9

	2018	2017
Discount rate:
Pension benefit obligation	4.23%	3.51%
Other postretirement benefit obligation	4.09%	3.37%
Pension benefit cost	3.51%	3.95%
Other postretirement benefit cost	3.37%	3.70%
Expected long-term return on plan assets:
Pension benefit cost	7.00%	7.25%
Other postretirement benefit cost	5.00%	5.00%
Mortality table for pension and postretirement benefit obligations	RP 2014 with MP 2018 projection scale	RP 2014 with MP 2017 projection scale

(In millions)	2018		2017		2016
Expense	$	196	$	122	$	113

(In millions)		2018		2017
Fixed maturities:
Federal government and agency	$	-	$	1
Corporate		1,446		1,124
Asset-backed		32		22
Fund investments		768		884
Total fixed maturities		2,246		2,031
Equity securities:
Domestic		506		689
International, including funds and pooled separate accounts⁽¹⁾		360		476
Total equity securities		866		1,165
Securities partnerships		477		457
Real estate funds, including pooled separate accounts⁽¹⁾		250		300
Commercial mortgage loans		110		140
Hedge funds		36		73
Guaranteed deposit account contract		107		63
Cash equivalents and other current assets, net		59		52
Total pension assets at fair value	$	4,151	$	4,281

(1) A pooled separate account has several participating benefit plans and each owns a share of the total pool of investments.