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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2018

The components of net periodic (benefit) cost consisted of the following:



	Year Ended December 31,
	2018			2017			2016
Service cost ^(a)	$	6		$	5		$	4
Interest cost ^(b)	19			19			21
Expected return on plan assets ^(b)	(33		)	(30		)	(27		)
Amortization of unrecognized amounts ^(b)	7			8			5
Net periodic (benefit) cost	$	(1	)	$	2		$	3

__________


^(a)	For the year ended December 31, 2018, $4 million and $2 million were included in operating expenses and selling, general and administrative expenses, respectively.


^(b)	Included in selling, general and administrative expenses.

Summary of Funded Status of Pension Plans

The Company uses a measurement date of December 31 for its pension plans. The funded status of the pension plans were as follows:



	As of December 31,
Change in Benefit Obligation	2018			2017
Benefit obligation at end of prior year	$	779		$	720
Service cost	6			5
Interest cost	19			19
Actuarial (gain) loss	(32		)	15
Currency translation adjustment	(24		)	44
Net benefits paid	(26		)	(24		)
Benefit obligation at end of current year	$	722		$	779

Change in Plan Assets
Fair value of assets at end of prior year	$	614		$	523
Actual return on plan assets	(29		)	59
Employer contributions	11			24
Currency translation adjustment	(21		)	32
Net benefits paid	(26		)	(24		)
Fair value of assets at end of current year	$	549		$	614

Schedule of Net Funded Status [Table Text Block]



	As of December 31,
Funded Status	2018			2017
Classification of net balance sheet assets (liabilities):
Non-current assets	$	18		$	24
Current liabilities	(4		)	(3		)
Non-current liabilities	(187		)	(186		)
Net funded status	$	(173	)	$	(165	)

Summary of Assumptions Used to Determine Pension Obligations and Pension Costs

The following assumptions were used to determine pension obligations and pension costs for the principal plans in which the Company’s employees participated:



		For the Year Ended December 31,
U.S. Pension Benefit Plans		2018		2017		2016
Discount rate:
	Net periodic benefit cost	3.50	%	3.90	%	4.40	%
	Benefit obligation	4.15	%	3.50	%	3.90	%
Long-term rate of return on plan assets		7.00	%	7.00	%	7.00	%

Non-U.S. Pension Benefit Plans
Discount rate:
	Net periodic benefit cost	2.55	%	2.45	%	3.45	%
	Benefit obligation	2.75	%	2.55	%	2.45	%
Long-term rate of return on plan assets		4.50	%	4.70	%	4.45	%

Summary of Defined Benefit Pension Plans' Assets Fair Value

The following table presents the defined benefit pension plans’ assets measured at fair value, as of December 31:



	2018
Asset Class	Level 1		Level 2		Total
Cash equivalents and short-term investments	$	10	$	25	$	35
U.S. equities	82		42		124
Non-U.S. equities	49		80		129
Real estate	—		17		17
Government bonds	3		8		11
Corporate bonds	89		31		120
Other assets	2		111		113
Total assets	$	235	$	314	$	549



	2017
Asset Class	Level 1		Level 2		Total
Cash equivalents and short-term investments	$	12	$	29	$	41
U.S. equities	102		43		145
Non-U.S. equities	50		100		150
Real estate	—		18		18
Government bonds	7		11		18
Corporate bonds	90		37		127
Other assets	3		112		115
Total assets	$	264	$	350	$	614