Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2017



	Pension Benefits									Postretirement Benefits
(In millions)	Year Ended December 31									Year Ended December 31
	2017			2016			2015			2017			2016			2015
Retirement plan expense
Defined benefit plans:
Service cost (benefits earned during the period)	$	78		$	82		$	92		$	2		$	3		$	5
Interest cost	106			113			112			6			8			8
Expected return on plan assets	(145		)	(137		)	(129		)	—			—			—
Settlement charges	—			(5		)	60			—			—			—
Curtailments	—			—			—			—			(38		)	—
Amortization of actuarial loss	65			56			69			4			3			7
Amortization of prior service cost (credit)	(7		)	2			2			(13		)	(17		)	(17		)
Net periodic defined benefit plan expense	97			111			206			(1		)	(41		)	3
Defined contribution plans	57			57			52			—			—			—
Total retirement plan expense	$	154		$	168		$	258		$	(1	)	$	(41	)	$	3

Changes In Defined Benefit Obligation And Fair Value Of Defined Benefit Plan Assets

The following tables set forth changes in the defined benefit obligation and the fair value of defined benefit plan assets for the years ended December 31, 2017 and 2016:



	Pension Benefits						Postretirement Benefits
	December 31 2017			December 31 2016			December 31 2017			December 31 2016
	(In millions)						(In millions)
Benefit obligation, beginning	$	2,992		$	2,880		$	171		$	199
Service cost	78			82			2			3
Interest cost	106			113			6			8
Actuarial loss (gain)	129			132			(4		)	5
Employee contributions	2			1			—			—
Curtailments	—			—			—			(38		)
Acquisitions	3			—			—			—
Settlements	(6		)	(10		)	—			—
Divestitures	—			(8		)	—			—
Benefits paid	(86		)	(142		)	(11		)	(9		)
Plan amendments	(180		)	—			(10		)	3
Actual expenses	(2		)	(2		)	—			—
Foreign currency effects	73			(54		)	—			—
Benefit obligation, ending	$	3,109		$	2,992		$	154		$	171

Fair value of plan assets, beginning	$	2,131		$	1,922		$	—		$	—
Actual return on plan assets	340			232			—			—
Employer contributions	29			183			11			9
Employee contributions	2			1			—			—
Settlements	(6		)	(10		)	—			—
Divestitures	—			(2		)	—			—
Benefits paid	(86		)	(142		)	(11		)	(9		)
Actual expenses	(2		)	(2		)	—			—
Foreign currency effects	40			(51		)	—			—
Fair value of plan assets, ending	$	2,448		$	2,131		$	—		$	—

Funded status	$	(661	)	$	(861	)	$	(154	)	$	(171	)

Prepaid benefit cost	$	55		$	30		$	—		$	—
Accrued benefit liability – current	(17		)	(16		)	(12		)	(13		)
Accrued benefit liability – long-term	(699		)	(875		)	(142		)	(158		)
Net amount recognized in the balance sheet	$	(661	)	$	(861	)	$	(154	)	$	(171	)

Principal Assumptions In Developing Net Periodic Pension Cost

The following table sets forth the principal assumptions used in developing net periodic pension cost:



	Pension Benefits		Postretirement Benefits
	December 31 2017	December 31 2016	December 31 2017	December 31 2016
Discount rate	3.7%	4.0%	3.9%	4.0%
Expected return on plan assets	6.8%	7.1%	N/A	N/A
Rate of compensation increase	4.6%	4.7%	N/A	N/A

The following table sets forth the principal assumptions used in developing the year-end actuarial present value of the projected benefit obligations:



	Pension Benefits				Postretirement Benefits
	December 31 2017		December 31 2016		December 31 2017	December 31 2016
Discount rate	3.4	%	3.7	%	3.7%	3.9%
Rate of compensation increase	4.7	%	4.6	%	N/A	N/A

Impact Of 1% Change In Assumed Health Care Cost Trend Rates

A 1% change in assumed health care cost trend rates would have the following effects:



	1% Increase		1% Decrease
	(In millions)
Effect on accumulated postretirement benefit obligations	$	5	$	(5	)

Schedule Of Fair Value Of Plan Assets

The following tables set forth, by level within the fair value hierarchy, the fair value of plan assets as of December 31, 2017 and 2016.



	Fair Value Measurements at December 31, 2017
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(In millions)
Common stock	$	261	$	—	$	—	$	261
Mutual funds	750		—		—		750
Corporate bonds	—		601		—		601
U.S. Treasury instruments	98		—		—		98
U.S. government agency, state and local government bonds	—		29		—		29
Other	—		19		—		19
Total assets	$	1,109	$	649	$	—	$	1,758

Common collective trust funds at NAV
U.S. equity							327
International equity							363
Total assets at fair value							$	2,448



	Fair Value Measurements at December 31, 2016
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(In millions)
Common stock	$	224	$	—	$	—	$	224
Mutual funds	646		—		—		646
Corporate bonds	—		492		—		492
U.S. Treasury instruments	150		—		—		150
U.S. government agency, state and local government bonds	—		22		—		22
Other	—		4		—		4
Total assets	$	1,020	$	518	$	—	$	1,538

Common collective trust funds at NAV
U.S. equity							287
International equity							306
Total assets at fair value							$	2,131

Actual Asset Allocation For Global Pension Plan Assets

The following table sets forth the actual asset allocation for the Company’s global pension plan assets as of the measurement date:



	December 31 2017⁽¹⁾⁽²⁾	December 31 2016⁽²⁾
Equity securities	58%	59%
Debt securities	40%	40%
Other	2%	1%
Total	100%	100%

⁽¹⁾

The Company’s U.S. pension plans contain approximately 78% of the Company’s global pension plan assets. The actual asset allocation for the Company’s U.S. pension plans as of the measurement date consists of 60% equity securities and 40% debt securities. The target asset allocation for the Company’s U.S. pension plans is approximately the same as the actual asset allocation. The actual asset allocation for the Company’s foreign pension plans as of the measurement date consists of 56% equity securities, 43% debt securities, and 1% in other investments. The target asset allocation for the Company’s foreign pension plans is approximately the same as the actual asset allocation.


⁽²⁾	The Company’s pension plans did not directly hold any shares of Company common stock as of the December 31, 2017 and 2016 measurement dates.

Expected Future Benefit Payments To Be Paid

The following benefit payments, which reflect expected future service, are expected to be paid by the benefit plans:



	Pension Benefits		Postretirement Benefits
	(In millions)
2018	$	105	$	12
2019	112		12
2020	118		12
2021	125		12
2022	132		11
2023-2027	762		54