Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2019

The net periodic cost (benefit) for pension and Postretirement Health Care Benefits plans was as follows:



	U.S. Pension Benefit Plans									Non U.S. Pension Benefit Plans									Postretirement Health Care Benefits Plan
Years ended December 31	2019			2018			2017			2019			2018			2017			2019			2018			2017
Service cost	$	—		$	—		$	—		$	2		$	3		$	3		$	—		$	—		$	—
Interest cost	202			186			185			36			38			40			3			2			3
Expected return on plan assets	(275		)	(270		)	(229		)	(85		)	(92		)	(92		)	(10		)	(10		)	(10		)
Amortization of:
Unrecognized net loss	46			57			44			15			15			16			4			4			5
Unrecognized prior service benefit	—			—			—			—			—			—			(15		)	(15		)	(18		)
Settlement loss	359			—			—			—			—			48			—			—			—
Net periodic cost (benefit)	$	332		$	(27	)	$	—		$	(32	)	$	(36	)	$	15		$	(18	)	$	(19	)	$	(20	)

The status of the Company’s plans is as follows:



	U.S. Pension Benefit Plans						Non U.S. Pension Benefit Plans						Postretirement Health Care Benefits Plan
	2019			2018			2019			2018			2019			2018
Change in benefit obligation:
Benefit obligation at January 1	$	4,864		$	5,235		$	1,654		$	1,844		$	72		$	85
Service cost	—			—			2			3			—			—
Interest cost	202			186			36			38			3			2
Plan amendments	—			—			(83		)	10			—			—
Actuarial loss (gain)	609			(452		)	207			(97		)	4			(8		)
Foreign exchange valuation adjustment	—			—			44			(98		)	—			—
Benefit payments	(948		)	(105		)	(46		)	(46		)	(6		)	(7		)
Benefit obligation at December 31	$	4,727		$	4,864		$	1,814		$	1,654		$	73		$	72
Change in plan assets:
Fair value at January 1	$	3,673		$	3,614		$	1,438		$	1,590		$	133		$	151
Return on plan assets	873			(339		)	188			(28		)	33			(12		)
Company contributions	3			503			8			8			—			—
Foreign exchange valuation adjustment	—			—			53			(88		)	—			—
Benefit payments	(948		)	(105		)	(46		)	(44		)	(6		)	(6		)
Fair value at December 31	$	3,601		$	3,673		$	1,641		$	1,438		$	160		$	133
Funded status of the plan	$	(1,126	)	$	(1,191	)	$	(173	)	$	(216	)	$	87		$	61
Unrecognized net loss	1,935			2,329			648			543			42			74
Unrecognized prior service benefit	—			—			(84		)	11			(20		)	(35		)
Prepaid pension cost	$	809		$	1,138		$	391		$	338		$	109		$	100
Components of prepaid (accrued) pension cost:
Current benefit liability	$	(3	)	$	(3	)	$	—		$	—		$	—		$	—
Non-current benefit liability	(1,123		)	(1,188		)	(299		)	(265		)	—			—
Non-current benefit asset	—			—			126			49			87			61
Deferred income taxes	463			561			60			55			9			10
Accumulated other comprehensive loss	1,472			1,768			504			499			13			29
Prepaid pension cost	$	809		$	1,138		$	391		$	338		$	109		$	100

Weighted average actuarial assumptions used to determine costs for the plans at the beginning of the fiscal year were as follows:



	U.S. Pension Benefit Plans				Non U.S. Pension Benefit Plans				Postretirement Health Care Benefits Plan
	2019		2018		2019		2018		2019		2018
Discount rate	4.25	%	3.57	%	2.37	%	2.08	%	3.85	%	3.16	%
Investment return assumption	6.85	%	6.95	%	5.23	%	5.18	%	6.90	%	7.00	%

Weighted average actuarial assumptions used to determine benefit obligations for the plans were as follows:



	U.S. Pension Benefit Plans				Non U.S. Pension Benefit Plans				Postretirement Health Care Benefits Plan
	2019		2018		2019		2018		2019		2018
Discount rate	3.32	%	4.47	%	1.82	%	2.67	%	3.15	%	4.29	%
Future compensation increase rate	n/a		n/a		0.52	%	0.52	%	n/a		n/a

The accumulated benefit obligations for the plans were as follows:



	U.S. Pension Benefit Plans				Non U.S. Pension Benefit Plans
December 31	2019		2018		2019		2018
Accumulated benefit obligation	$	4,727	$	4,864	$	1,809	$	1,649

The weighted-average asset allocations by asset categories for all pension and the Postretirement Health Care Benefits plans were as follows:



	All Pension Benefit Plans				Postretirement Health Care Benefits Plan
December 31	2019		2018		2019		2018
Target Mix:
Equity securities	25	%	30	%	28	%	32	%
Fixed income securities	56	%	51	%	52	%	49	%
Cash and other investments	19	%	19	%	20	%	19	%
Actual Mix:
Equity securities	24	%	28	%	29	%	31	%
Fixed income securities	57	%	50	%	54	%	48	%
Cash and other investments	19	%	22	%	17	%	21	%

The following benefit payments are expected to be paid:



Year	U.S. Pension Benefit Plans		Non U.S. Pension Benefit Plans		Postretirement Health Care Benefits Plan
2020	$	133	$	48	$	7
2021	150		48		6
2022	169		49		6
2023	184		51		5
2024	201		52		5
2025-2029	1,261		276		22