Long-Term Employee Benefits

3 Months Ended

Mar. 31, 2017

General Discussion of Pension and Other Postretirement Benefits [Abstract]

Long-Term Employee Benefits

Long-Term Employee Benefits

Defined Benefit Pensions

The workforce reductions in 2016 related to the 2016 global cost savings and restructuring plan triggered curtailments for certain of the company's pension plans, including the principal U.S. pension plan. For the principal U.S. pension plan, the company recorded curtailment losses of $49 during the quarter ended March 31, 2016 and re-measured the principal U.S. pension plan as of March 31, 2016. The curtailment loss was driven by the changes in the benefit obligation based on the demographics of the terminated positions partially offset by accelerated recognition of a portion of the prior service benefit. In connection with the re-measurement, the company recognized a pre-tax net loss of $1,191 within other comprehensive income (loss) for the three months ended March 31, 2016.

The following sets forth the components of the company’s net periodic benefit cost for pensions:

	Three Months Ended
	March 31,
	2017			2016
Service cost	$	33		$	47
Interest cost	195			217
Expected return on plan assets	(308		)	(338		)
Amortization of loss	190			172
Amortization of prior service benefit	(1		)	(2		)
Curtailment loss	—			49
Settlement loss	—			1
Net periodic benefit cost - Total	$	109		$	146
Less: Discontinued operations	—			(4		)
Net periodic benefit cost - Continuing operations	$	109		$	150

Other Post Employment Benefits

As a result of the workforce reductions noted above, curtailments were triggered for the company's other post employment benefit plans. The company recorded curtailment gains of $30 for the three months ended March 31, 2016. The curtailment gains were driven by accelerated recognition of a portion of the prior service benefit partially offset by the change in the benefit obligation based on the demographics of the terminated positions.

The following sets forth the components of the company’s net periodic benefit cost (credit) for other post employment benefits:

	Three Months Ended
	March 31,
	2017			2016
Service cost	$	2		$	3
Interest cost	22			23
Amortization of loss	23			17
Amortization of prior service benefit	(17		)	(39		)
Curtailment gain	—			(30		)
Net periodic benefit cost (credit)- Total	$	30		$	(26	)