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Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2017
Retirement Benefits [Abstract]  
Schedule of the Benefit Obligation, the Fair Value of Plan Assets, and the Funded Status
A summary of the benefit obligation and the fair value of plan assets, as well as the funded status for the retirement and postretirement plans as of December 31, 2017 and 2016, is as follows (benefits paid in the table below include only those amounts contributed directly to or paid directly from plan assets): 
(in millions)
Retirement Plans
 
Postretirement Plans
 
2017
 
2016
 
2017
 
2016
Net benefit obligation at beginning of year
$
2,260

 
$
2,199

 
$
57

 
$
80

Service cost
3

 
3

 
—

 
—

Interest cost
74

 
78

 
2

 
2

Plan participants’ contributions
—

 
—

 
3

 
4

Actuarial loss (gain)
107

 
196

 
(5
)
 
(6
)
Gross benefits paid
(110
)
 
(121
)
 
(8
)
 
(10
)
Foreign currency effect
38

 
(75
)
 
—

 
—

Other adjustments 1
(43
)
 
(20
)
 
—

 
(13
)
Net benefit obligation at end of year
2,329

 
2,260

 
49

 
57

Fair value of plan assets at beginning of year
2,073

 
2,023

 
—

 
—

Actual return on plan assets
263

 
259

 
—

 
—

Employer contributions
8

 
8

 
25

 
6

Plan participants’ contributions
—

 
—

 
3

 
4

Gross benefits paid
(110
)
 
(121
)
 
(8
)
 
(10
)
Foreign currency effect
31

 
(74
)
 


 
—

Other adjustments
(46
)
 
(22
)
 


 
—

Fair value of plan assets at end of year
2,219

 
2,073

 
20

 
—

Funded status
$
(110
)
 
$
(187
)
 
$
(29
)
 
$
(57
)
Amounts recognized in consolidated balance sheets:
 
 
 
 
 
 
 
Non-current assets
$
114

 
$
46

 
$
—

 
$
—

Current liabilities
(9
)
 
(8
)
 
—

 
(8
)
Non-current liabilities
(215
)
 
(225
)
 
(29
)
 
(49
)

$
(110
)
 
$
(187
)
 
$
(29
)
 
$
(57
)
Accumulated benefit obligation
$
2,319

 
$
2,251

 
 
 
 
Plans with accumulated benefit obligation in excess of the fair value of plan assets:
 
 
 
 
 
 
 
Projected benefit obligation
$
224

 
$
674

 
 
 
 
Accumulated benefit obligation
$
214

 
$
665

 
 
 
 
Fair value of plan assets
$
—

 
$
441

 
 
 
 
Amounts recognized in accumulated other comprehensive loss, net of tax:
 
 
 
 
 
 
 
Net actuarial loss (gain)
$
451

 
$
483

 
$
(37
)
 
$
(35
)
Prior service credit
1

 
1

 
(12
)
 
(13
)
Total recognized
$
452

 
$
484

 
$
(49
)
 
$
(48
)

1 
Relates to the impact of retiree annuity purchases.
Schedule of Net Periodic Benefit Cost
A summary of net periodic benefit cost for our retirement and postretirement plans for the years ended December 31, is as follows: 
(in millions)
Retirement Plans
 
Postretirement Plans
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
Service cost
$
3

 
$
3

 
$
6

 
$
—

 
$
—

 
$
—

Interest cost
74

 
78

 
96

 
2

 
2

 
3

Expected return on assets
(126
)
 
(122
)
 
(127
)
 
—

 
—

 
—

Amortization of:
 
 
 
 
 
 
 
 
 
 
 
Actuarial loss (gain)
18

 
16

 
20

 
(2
)
 
(1
)
 
—

Prior service (credit) cost
—

 
—

 
—

 
(2
)
 
—

 
(1
)
Other 1
8

 
—

 
—

 
—

 
—

 
—

Net periodic benefit cost
$
(23
)
 
$
(25
)
 
$
(5
)
 
$
(2
)
 
$
1

 
$
2
Schedule of Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income, Net of Tax
Other changes in plan assets and benefit obligations recognized in other comprehensive income, net of tax for the years ended December 31, are as follows: 
(in millions)
Retirement Plans
 
Postretirement Plans
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
Net actuarial (gain) loss
$
(20
)
 
$
60

 
$
(6
)
 
$
(3
)
 
$
(12
)
 
$
(17
)
Recognized actuarial (gain) loss
(12
)
 
(10
)
 
(13
)
 
1

 
1

 
—

Prior service (credit) cost
—

 
—

 
—

 
1

 
(8
)
 
1

Other 1

(7
)
 


 


 


 


 


Total recognized
$
(39
)
 
$
50

 
$
(19
)
 
$
(1
)
 
$
(19
)
 
$
(16
)

1 
Represents a charge related to our U.K retirement plan.
Schedule of Assumptions Used
 
Retirement Plans
 
Postretirement Plans
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
Benefit obligation:
 
 
 
 
 
 
 
 
 
 
 
Discount rate 2
3.68
%
 
4.14
%
 
4.47
%
 
3.40
%
 
3.69
%
 
3.90
%
Net periodic cost:
 
 
 
 
 
 
 
 
 
 
 
Weighted-average healthcare cost rate 1
 
 
 
 
 
 
7.00
%
 
7.00
%
 
7.00
%
Discount rate - U.S. plan 2
4.13
%
 
4.47
%
 
4.15
%
 
3.69
%
 
3.94
%
 
3.60
%
Discount rate - U.K. plan 2
2.58
%
 
3.84
%
 
3.80
%
 
 
 
 
 
 
Return on assets 3
6.25
%
 
6.25
%
 
6.25
%
 
 
 
 
 
 

1 
The assumed weighted-average healthcare cost trend rate will decrease ratably from 7% in 2017 to 5% in 2024 and remain at that level thereafter. Assumed healthcare cost trends have an effect on the amounts reported for the healthcare plans. A one percentage point change in assumed healthcare cost trend creates the following effects:
(in millions)
1% point
increase
 
1% point
decrease
Effect on postretirement obligation
$
—

 
$
—


2 
Effective January 1, 2017, we changed our discount rate assumption on our U.S. retirement plans to 4.13% from 4.47% in 2016 and changed our discount rate assumption on our U.K. plan to 2.58% from 3.84% in 2016 . At the end of 2015, we changed our approach used to measure service and interest costs on all of our retirement plans. For 2015 and prior periods presented, we measured service and interest costs utilizing a single weighted-average discount rate derived from the yield curve used to measure the benefit obligation. For 2016 and 2017, we elected to measure service and interest costs by applying the specific spot rates along that yield curve to the plans' liability cash flows. We believe this new approach provides a more precise measurement of service and interest costs by aligning the timing of the plans' liability cash flows to the corresponding spot rates on the yield curve. This change does not affect the measurement of our benefit obligation. We have accounted for this change as a change in accounting estimate that is inseparable from a change in accounting principle and, accordingly, have accounted for it on a prospective basis. Pension and postretirement medical costs decreased by approximately $10 million in 2017 and $14 million in 2016 as a result of this change.
3 
The expected return on assets assumption is calculated based on the plan’s asset allocation strategy and projected market returns over the long-term. Effective January 1, 2018, our return on assets assumption for the U.S. plan and U.K. plan decreased to 6.00% from 6.25%.
Schedule of Effects Created by One Percentage Point Change in Assumed Healthcare Cost Trend
A one percentage point change in assumed healthcare cost trend creates the following effects:
(in millions)
1% point
increase
 
1% point
decrease
Effect on postretirement obligation
$
—

 
$
—
Schedule of Information about the Expected Cash Flows for Retirement and Post-Retirement Plans and Impact of the Medicare Subsidy
Information about the expected cash flows for our retirement and postretirement plans and the impact of the Medicare subsidy is as follows: 
(in millions)
 
 
Postretirement Plans 2
 
Retirement 1
Plans
 
Gross
payments
 
Retiree
contributions
 
Medicare
subsidy 3
 
Net
payments
2018
$
88

 
$
9

 
$
(3
)
 
$
—

 
$
6

2019
90

 
8

 
(3
)
 
—

 
5

2020
93

 
8

 
(2
)
 
—

 
6

2021
96

 
7

 
(2
)
 
—

 
5

2022
99

 
6

 
(2
)
 
—

 
4

2023-2027
527

 
24

 
(9
)
 
—

 
15

1 
Reflects the total benefits expected to be paid from the plans or from our assets including both our share of the benefit cost and the participants’ share of the cost.
2 
Reflects the total benefits expected to be paid from our assets.
3 
Expected medicare subsidy amounts, for the years presented, are less than $1 million.
Schedule of Fair Value of Defined Benefit Plan Assets by Asset Class
The fair value of our defined benefit plans assets as of December 31, 2017 and 2016, by asset class is as follows:
(in millions)
December 31, 2017
 
Total
 
Level 1
 
Level 2
 
Level 3
Cash and short-term investments
$
10

 
$
10

 
$
—

 
$
—

Equities:
 
 
 
 
 
 
 
U.S. indexes 1
50

 
50

 
—

 
—

U.S. growth and value
109

 
109

 
—

 
—

U.K.
5

 
5

 
—

 
—

International, excluding U.K.
45

 
45

 
—

 
—

Fixed income:
 
 
 
 
 
 
 
Long duration strategy 2
1,076

 
—

 
1,076

 
—

Intermediate duration securities
35

 
—

 
35

 
—

Agency mortgage backed securities
5

 
—

 
5

 
—

Asset backed securities
19

 
—

 
19

 
—

Non-agency mortgage backed securities 3
15

 
—

 
15

 
—

International, excluding U.K.
18

 
—

 
18

 
—

Real Estate
 
 
 
 
 
 
 
U.K. 4
39

 
—

 
—

 
39

Total
$
1,426

 
$
219

 
$
1,168

 
$
39

Collective investment funds
$
793

 
 
 
 
 
 
Total
$
2,219

 
 
 
 
 
 
(in millions)
December 31, 2016
 
Total
 
Level 1
 
Level 2
 
Level 3
Cash, short-term investments, and other
$
38

 
$
38

 
$
—

 
$
—

Equities:
 
 
 
 
 
 
 
U.S. indexes 1
69

 
69

 
—

 
—

U.S. growth and value
103

 
103

 
—

 
—

U.K.
3

 
3

 
—

 
—

International, excluding U.K.
38

 
38

 
—

 
—

Fixed income:
 
 
 
 
 
 
 
Long duration strategy 2
970

 
—

 
970

 
—

Intermediate duration securities
32

 
—

 
32

 
—

Agency mortgage backed securities
5

 
—

 
5

 
—

Asset backed securities
19

 
—

 
19

 
—

Non-agency mortgage backed securities 3
20

 
—

 
20

 
—

International
16

 
—

 
16

 
—

Real Estate
 
 
 
 
 
 
 
U.K. 4
11

 
—

 
—

 
11

Total
$
1,324

 
$
251

 
$
1,062

 
$
11

Collective investment funds
$
749

 
 
 
 
 
 
Total
$
2,073

 
 
 
 
 
 
1 
Includes securities that are tracked in the S&P Smallcap 600 index.
2 
Includes securities that are mainly investment grade obligations of issuers in the U.S.
3 
Includes U.S. mortgage-backed securities that are not backed by the U.S. government.
4 
Includes a fund which holds real estate properties in the U.K.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
The trustee obtains estimated prices from vendors for securities that are not easily quotable and they are categorized accordingly as Level 3. The following table details further information on our plan assets where we have used significant unobservable inputs (Level 3):
(in millions)
Level 3
Balance as of December 31, 2016
$
11

Purchases

28

       Distributions
(1
)
       Gain (loss)
1

Balance as of December 31, 2017
$
39