XML 72 R33.htm IDEA: XBRL DOCUMENT

Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2021

The changes in and the amount of the accumulated postretirement benefit obligation were as follows:

	As of December 31,
	2021			2020
	(in millions)
Accumulated postretirement benefit obligation as of January 1	$	54		$	51
Service cost		1			1
Interest cost		1			2
Benefits paid		(3	)		(4	)
Actuarial (gains) losses		(5	)		4
Accumulated postretirement benefit obligation as of December 31	$	48		$	54

The accrued benefit obligation was included in our consolidated balance sheets as follows:

	As of December 31,
	2021		2020
	(in millions)
Accrued and other current liabilities	$	3	$	3
Long-term postretirement benefit obligation		45		51
	$	48	$	54

A portion of our accrued benefit obligation has been recorded in accumulated other comprehensive income as follows:

	As of December 31, 2019			Changes			As of December 31, 2020			Changes			As of December 31, 2021
	(in millions)
Net actuarial gain (loss)	$	15		$	(5	)	$	10		$	5		$	15
Deferred income tax (expense) benefit		(4	)		2			(2	)		(1	)		(3	)
Accumulated other comprehensive income	$	11		$	(3	)	$	8		$	4		$	12

We used the following weighted-average assumptions to determine our postretirement benefit obligations:

	As of December 31,
	2021			2020
Discount rate		2.90	%		2.54	%
Health care cost trend rate assumed for next year		6.60	%		6.90	%
Ultimate trend rate		4.50	%		4.50	%
Year that the rate reaches the ultimate trend rate	2029			2029

We used the following weighted-average assumptions to determine our net periodic postretirement health care cost:

	For the Years Ended December 31,
	2021			2020			2019
Discount rate		2.54	%		3.24	%		4.37	%
Health care cost trend rate assumed for next year		6.90	%		7.20	%		7.70	%
Ultimate trend rate		4.50	%		4.50	%		4.50	%
Year that the rate reaches the ultimate trend rate	2029			2029			2029

Our estimated future benefit payments for our postretirement benefit plan as of December 31, 2021 were as follows: