XML 67 R40.htm IDEA: XBRL DOCUMENT v2.4.0.8
Pension and Postretirement Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2013
Components of Net Periodic Benefit Costs and Other Amounts Recognized in OCI
Components of net periodic benefit costs and other amounts recognized in OCI —
 
Pension Benefits
 
2013
 
2012
 
2011
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
Interest cost
$
74

 
$
11

 
$
85

 
$
12

 
$
92

 
$
13

Expected return on plan assets
(117
)
 
(1
)
 
(111
)
 
(1
)
 
(104
)
 
(2
)
Service cost


 
6

 


 
5

 


 
5

Amortization of net actuarial loss
20

 
4

 
14

 


 
20

 


Settlement loss


 


 


 


 


 
5

Net periodic benefit cost (credit)
(23
)
 
20

 
(12
)
 
16

 
8

 
21

 
 
 
 
 
 
 
 
 
 
 
 
Recognized in OCI:
 

 
 

 
 

 
 

 
 

 
 

Amount due to net actuarial (gains) losses
(88
)
 
(1
)
 
131

 
51

 
66

 
(1
)
Prior service cost from plan amendments


 


 


 
6

 


 


Amortization of net actuarial losses in net periodic cost
(20
)
 
(4
)
 
(14
)
 


 
(20
)
 
(5
)
Total recognized in OCI
(108
)
 
(5
)
 
117

 
57

 
46

 
(6
)
Net recognized in benefit cost and OCI
$
(131
)
 
$
15

 
$
105

 
$
73

 
$
54

 
$
15


 
OPEB - Non-U.S.
 
2013
 
2012
 
2011
Interest cost
$
5

 
$
5

 
$
7

Service cost
1

 
1

 


Net periodic benefit cost
6

 
6

 
7

 
 
 
 
 
 
Recognized in OCI:
 

 
 

 
 

Amount due to net actuarial (gains) losses
(12
)
 
(8
)
 
7

Total recognized in OCI
(12
)
 
(8
)
 
7

Net recognized in benefit cost and OCI
$
(6
)
 
$
(2
)
 
$
14
Reconciliation of Changes in Benefit Obligations, Plan Assets and Funded Status
Funded status — The following tables provide reconciliations of the changes in benefit obligations, plan assets and funded status.
 
Pension Benefits
 
 
 
 
 
2013
 
2012
 
OPEB - Non-U.S.
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
 
2013
 
2012
Reconciliation of benefit obligation:
 

 
 

 
 

 
 

 
 

 
 

Obligation at beginning of period
$
2,061

 
$
309

 
$
1,931

 
$
243

 
$
132

 
$
137

Interest cost
74

 
11

 
85

 
12

 
5

 
5

Service cost


 
6

 


 
5

 
1

 
1

Actuarial (gain) loss
(200
)
 
(1
)
 
182

 
51

 
(12
)
 
(8
)
Benefit payments
(130
)
 
(15
)
 
(137
)
 
(12
)
 
(6
)
 
(7
)
Plan amendments


 


 


 
6

 


 


New plans


 


 


 
3

 


 


Settlements


 
(2
)
 


 
(3
)
 


 


Translation adjustments


 
5

 


 
4

 
(8
)
 
4

Obligation at end of period
$
1,805

 
$
313

 
$
2,061

 
$
309

 
$
112

 
$
132


 
Pension Benefits
 
 
 
 
 
2013
 
2012
 
OPEB - Non-U.S.
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
 
2013
 
2012
Reconciliation of fair value of plan assets:
 

 
 

 
 

 
 

 
 

 
 

Fair value at beginning of period
$
1,734

 
$
42

 
$
1,497

 
$
43

 
$
—

 
$
—

Actual return on plan assets
5

 
1

 
162

 
1

 


 


Employer contributions
40

 
17

 
212

 
12

 
6

 
7

Benefit payments
(130
)
 
(15
)
 
(137
)
 
(12
)
 
(6
)
 
(7
)
Settlements


 
(2
)
 


 
(3
)
 


 


Translation adjustments


 
(1
)
 


 
1

 


 


Fair value at end of period
$
1,649

 
$
42

 
$
1,734

 
$
42

 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
Funded status at end of period
$
(156
)
 
$
(271
)
 
$
(327
)
 
$
(267
)
 
$
(112
)
 
$
(132
)
Amounts Recognized in Balance Sheet
Amounts recognized in the balance sheet —
 
Pension Benefits
 
 
 
 
 
2013
 
2012
 
OPEB - Non-U.S.
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
 
2013
 
2012
Amounts recognized in the consolidated balance sheet:
 

 
 

 
 

 
 

 
 

 
 

Noncurrent assets
$
1

 
$
7

 
$
—

 
$
7

 
$
—

 
$
—

Current liabilities


 
(11
)
 


 
(11
)
 
(6
)
 
(7
)
Noncurrent liabilities
(157
)
 
(267
)
 
(327
)
 
(263
)
 
(106
)
 
(125
)
Net amount recognized
$
(156
)
 
$
(271
)
 
$
(327
)
 
$
(267
)
 
$
(112
)
 
$
(132
)

Amounts recognized in AOCI —
 
Pension Benefits
 
 
 
 
 
2013
 
2012
 
OPEB - Non-U.S.
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
 
2013
 
2012
Amounts recognized in AOCI:
 

 
 

 
 

 
 

 
 

 
 

Net actuarial loss (gain)
$
452

 
$
58

 
$
560

 
$
63

 
$
(20
)
 
$
(8
)
Prior service cost


 
10

 


 
12

 


 


Gross amount recognized
452

 
68

 
560

 
75

 
(20
)
 
(8
)
Deferred tax benefits


 
(16
)
 


 
(18
)
 
5

 
2

Noncontrolling and equity interests


 
(1
)
 


 
(1
)
 


 


Net amount recognized
$
452

 
$
51

 
$
560

 
$
56

 
$
(15
)
 
$
(6
)
Aggregate Funding Levels of Defined Benefit Pension Plans
Aggregate funding levels — The following table presents information regarding the aggregate funding levels of our defined benefit pension plans at December 31:
 
2013
 
2012
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
Plans with fair value of plan assets in excess of obligations:
 

 
 

 
 

 
 

Accumulated benefit obligation
$
15

 
$
14

 
$
17

 
$
16

Projected benefit obligation
15

 
15

 
17

 
17

Fair value of plan assets
16

 
22

 
17

 
24

Plans with obligations in excess of fair value of plan assets:
 

 
 

 
 

 
 

Accumulated benefit obligation
1,790

 
266

 
2,044

 
260

Projected benefit obligation
1,790

 
298

 
2,044

 
292

Fair value of plan assets
1,633

 
20

 
1,717

 
18
Fair Value of Pension Plan Assets
Fair value of pension plan assets —
 
 
 
 
Fair Value Measurements at December 31, 2013
 
 
 
 
U.S.
 
Non-U.S.
 
 
 
 
Quoted
Prices in
Active
Markets
 
Significant
Other
Observable
Inputs
 
Significant
Unobservable
Inputs
 
Significant
Other
Observable
Inputs
 
Significant
Unobservable
Inputs
Asset Category
 
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
(Level 2)
 
(Level 3)
Equity securities:
 
 

 
 

 
 

 
 

 
 

 
 

U.S. all cap (a)
 
$
90

 
$
90

 
$
—

 
$
—

 
$
—

 
$
—

U.S. large cap
 
72

 
72

 


 


 


 


EAFE composite
 
155

 
155

 


 


 


 


Emerging markets
 
76

 
76

 


 


 


 


Fixed income securities:
 
 

 
 
 
 
 
 
 
 
 
 
U.S. core bonds (b)
 
203

 


 
203

 


 


 


Corporate bonds
 
494

 


 
494

 


 


 


U.S. Treasury strips
 
207

 


 
207

 


 


 


Non-U.S. government securities
 
11

 


 


 


 
11

 


Emerging market debt
 
81

 


 
81

 


 


 


Alternative Investments:
 
 

 
 
 
 
 
 
 
 
 
 
Hedge fund of funds (c)
 
83

 


 


 
83

 


 


Insurance contracts (d)
 
11

 


 


 


 


 
11

Real estate
 
48

 


 


 
48

 


 


Other (e)
 
(28
)
 


 
(34
)
 


 
6

 


Cash and cash equivalents
 
188

 


 
174

 


 
14

 


Total
 
$
1,691

 
$
393

 
$
1,125

 
$
131

 
$
31

 
$
11


 
 
 
 
Fair Value Measurements at December 31, 2012
 
 
 
 
U.S.
 
Non-U.S.
 
 
 
 
Quoted
Prices in
Active
Markets
 
Significant
Other
Observable
Inputs
 
Significant
Unobservable
Inputs
 
Significant
Other
Observable
Inputs
 
Significant
Unobservable
Inputs
Asset Category
 
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
(Level 2)
 
(Level 3)
Equity securities:
 
 

 
 

 
 

 
 

 
 

 
 

U.S. all cap (a)
 
$
75

 
$
75

 
$
—

 
$
—

 
$
—

 
$
—

U.S. large cap
 
132

 
132

 


 


 


 


EAFE composite
 
150

 
150

 


 


 


 


Emerging markets
 
84

 
84

 


 


 


 


Fixed income securities:
 
 

 
 
 
 
 
 
 
 
 
 
U.S. core bonds (b)
 
179

 


 
179

 


 


 


Corporate bonds
 
597

 


 
597

 


 


 


U.S. Treasury strips
 
232

 


 
232

 


 


 


Non-U.S. government securities
 
13

 


 


 


 
13

 


Emerging market debt
 
52

 


 
52

 


 


 


Alternative Investments:
 
 

 
 
 
 
 
 
 
 
 
 
Hedge fund of funds (c)
 
78

 


 


 
78

 


 


Insurance contracts (d)
 
9

 


 


 


 


 
9

Real estate
 
46

 


 


 
46

 


 


Other (e)
 
9

 


 
4

 


 
5

 


Cash and cash equivalents
 
120

 


 
105

 


 
15

 


Total
 
$
1,776

 
$
441

 
$
1,169

 
$
124

 
$
33

 
$
9

 __________________________
Notes:

(a)
This category comprises a combination of small-, mid- and large-cap equity stocks that are allocated at the investment manager's discretion. Investments include common and preferred securities as well as equity funds that invest in these instruments.
(b)
This category represents a combination of investment grade corporate bonds, sovereign bonds, Yankee bonds, asset backed securities and U.S. government bonds. Investments include fixed income funds that invest in these instruments.
(c)
This category includes fund managers that invest in a well-diversified group of hedge funds where strategies include, but are not limited to, event driven, relative value, long/short market neutral, multistrategy and global macro. Investments may be made directly or through pooled funds.
(d)
This category comprises contracts placed with insurance companies where the underlying assets are invested in fixed interest securities.
(e)
Other assets in the U.S. include interest rate derivatives which had a market value of $(34) at December 31, 2013 and $4 at December 31, 2012.
Reconciliation of Level 3 Assets
 
 
2013
 
2012
 
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
Reconciliation of Level 3 Assets
 
Hedge
fund of
funds
 
Real
Estate
and
Other
 
Insurance
contract
 
Hedge
fund of
funds
 
Real
Estate
and
Other
 
Insurance
contract
Fair value at beginning of period
 
$
78

 
$
46

 
$
9

 
$
73

 
$
43

 
$
10

Unrealized gains (losses) relating to:
 
 

 
 

 
 

 
 

 
 

 
 

Assets sold during the period
 


 


 


 


 


 
(1
)
Assets still held at the reporting date
 
8

 
4

 
2

 
5

 
1

 


Purchases, sales and settlements
 
(3
)
 
(2
)
 


 


 
3

 


Transfers out of Level 3
 


 


 


 


 
(1
)
 


Fair value at end of period
 
$
83

 
$
48

 
$
11

 
$
78

 
$
46

 
$
9
One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
A one-percentage-point change in assumed health care cost trend rates would have the following effects for 2013:
 
1% Point
Increase
 
1% Point
Decrease
Effect on total of service and interest cost components
$
1

 
$
(1
)
Effect on OPEB obligations
13

 
(12
)
Expected Future Benefit Payments
Estimated future benefit payments and contributions — Expected benefit payments by our pension and OPEB plans for each of the next five years and for the period 2019 through 2023 are as follows:
 
 
Pension Benefits
 
OPEB
Year
 
U.S.
 
Non-U.S.
 
Non-U.S.
2014
 
$
134

 
$
13

 
$
6

2015
 
133

 
14

 
6

2016
 
127

 
15

 
6

2017
 
124

 
16

 
6

2018
 
123

 
17

 
7

2019 to 2023
 
585

 
104

 
33

Total
 
$
1,226

 
$
179

 
$
64
Multiemployer Pension Plans
 
 
Employer
Identification
Number/
Plan Number
 
PPA
Zone Status
 
Funding Plan Pending/
Implemented
 
Contributions by Dana
 
Surcharge
Imposed
Pension
Fund
 
 
2013
 
2012
 
 
2013
 
2012
 
2011
 
SPT
 
23-6648508 / 499
 
Green
 
Green
 
No
 
$
9

 
$
10

 
$
9

 
No
Pension Plans, Defined Benefit
  
Significant Weighted Average Assumptions Used
Significant assumptions — The significant weighted average assumptions used in the measurement of pension benefit obligations at December 31 of each year and the net periodic benefit cost for each year are as follows:
 
2013
 
2012
 
2011
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
Pension benefit obligations:
 

 
 

 
 

 
 

 
 

 
 

Discount rate
4.63
%
 
4.15
%
 
3.77
%
 
3.93
%
 
4.57
%
 
4.98
%
Net periodic benefit cost:
 
 
 
 
 

 
 

 
 

 
 

Discount rate
3.77
%
 
3.93
%
 
4.57
%
 
4.98
%
 
5.23
%
 
4.87
%
Rate of compensation increase
N/A

 
3.73
%
 
N/A

 
3.14
%
 
N/A

 
3.21
%
Expected return on plan assets
7.00
%
 
3.35
%
 
7.00
%
 
3.74
%
 
7.50
%
 
4.09
%
Other Postretirement Benefit Plans, Defined Benefit
  
Significant Weighted Average Assumptions Used
The significant weighted average assumptions used in the measurement of OPEB obligations at December 31 of each year and the net periodic benefit cost for each year are as follows:
 
2013
 
2012
 
2011
 
Non-U.S.
 
Non-U.S.
 
Non-U.S.
OPEB benefit obligations:
 

 
 

 
 

Discount rate
4.65
%
 
3.90
%
 
4.18
%
Net periodic benefit cost:
 
 
 

 
 

Discount rate
3.90
%
 
4.18
%
 
5.11
%
Initial health care costs trend rate
6.11
%
 
6.40
%
 
6.70
%
Ultimate health care costs trend rate
5.03
%
 
5.02
%
 
5.02
%
Year ultimate reached
2018

 
2018

 
2018