EMPLOYEE BENEFITS (Tables)

12 Months Ended

Dec. 31, 2017

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

The following table presents qualified pension plan assets measured at fair value within the fair value hierarchy:



	Fair Value Measurements as of December 31, 2017
(in millions)	Total		Level 1		Level 2		Level 3
Assets:
Managed portfolio assets:
U.S. government obligations	8		—		8		—
Non-U.S. government obligations	2		—		2		—
Municipal obligations	1		—		1		—
Corporate bonds	102		—		102		—
Asset-backed securities	1		—		1		—
Total assets in the fair value hierarchy	114		—		114		—
Investments measured at net asset value ⁽¹⁾	1,024
Assets at fair value at measurement date of December 31, 2017		$1,138		$—		$114		$—

⁽¹⁾Certain investments that were measured at net asset value per share (or its equivalent) have not been classified in the fair value hierarchy.

The following table presents qualified pension plan assets measured at fair value within the fair value hierarchy:



	Fair Value Measurements as of December 31, 2016
(in millions)	Total		Level 1		Level 2		Level 3
Assets:
Managed portfolio assets
Cash and money market funds	2		—		2		—
U.S. government obligations	10		—		10		—
Municipal obligations	2		—		2		—
Corporate bonds	89		—		89		—
Asset-backed securities	1		—		1		—
Total assets in the fair value hierarchy	104		—		104		—
Investments measured at net asset value ⁽¹⁾	918
Assets at fair value at measurement date of December 31, 2016		$1,022		$—		$104		$—

⁽¹⁾Certain investments that were measured at net asset value per share (or its equivalent) have not been classified in the fair value hierarchy.

Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan

Changes in the fair value of defined benefit pension plan assets, projected benefit obligation, funded status, and accumulated benefit obligation are presented below:



	Year Ended December 31,
	Qualified Plan						Non-Qualified Plan
(in millions)	2017			2016			2017			2016
Fair value of plan assets as of January 1		$1,015			$917			$—			$—
Actual return on plan assets	185			82			—			—
Employer contributions	—			75			8			8
Benefits and administrative expenses paid	(61		)	(59		)	(8		)	(8		)
Fair value of plan assets as of December 31	1,139			1,015			—			—
Projected benefit obligation	1,089			1,024			106			105
Pension asset (obligation)		$50			($9	)		($106	)		($105	)
Accumulated benefit obligation		$1,089			$1,024			$106			$105

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Other changes in plan assets and benefit obligations recognized in OCI (for the qualified, non-qualified and postretirement plans) are presented below:



	Year Ended December 31,
(in millions)	2017			2016			2015
Net periodic pension income		($2	)		($1	)		($7	)
Net actuarial (gain) loss	(31		)	54			7
Amortization of prior service credit	1			1			—
Amortization of net actuarial loss	(18		)	(16		)	(15		)
Total recognized in other comprehensive income (loss)	(48		)	39			(8		)
Total recognized in net periodic pension cost and other comprehensive income (loss)		($50	)		$38			($15	)

Schedule of net periodic (income) cost

The components of net periodic pension (income) cost for the Company's qualified and non-qualified plans are presented below:



	Year Ended December 31,
	Qualified Plan									Non-Qualified Plan						Total
(in millions)	2017			2016			2015			2017		2016		2015		2017			2016			2015
Service cost		$3			$3			$3			$—		$—		$—		$3			$3			$3
Interest cost	42			44			44			4		4		4		46			48			48
Expected return on plan assets	(69		)	(68		)	(74		)	—		—		—		(69		)	(68		)	(74		)
Amortization of actuarial loss	16			14			13			2		2		2		18			16			15
Net periodic pension (income) cost		($8	)		($7	)		($14	)		$6		$6		$6		($2	)		($1	)		($8	)

Schedule of Expected Benefit Payments

Expected future benefit payments for the qualified and non-qualified plans are presented below:



	(in millions)
Expected benefit payments by fiscal year ending
December 31, 2018		$65
December 31, 2019	66
December 31, 2020	66
December 31, 2021	67
December 31, 2022	68
December 31, 2023 - 2027	346

Fair Value, Investments, Entities that Calculate Net Asset Value Per Share

The following table presents the unfunded commitments, redemption frequency and redemption notice period for Plan investments that utilize net asset value to determine fair value:

Fair Value Estimated Using Net Asset Value per Share December 31,

Unfunded

Redemption

Investment (dollars in millions)

2017

2016

Commitment

Frequency

Restrictions

Notice Period

Liquid Cash Fund

$11

$—

Daily

None

Same day before 5:30pm ET

Equity Mutual Fund⁽¹⁾

—

Daily

None

7 days

Common and Collective Funds:

Global equities funds

472

386

—

Daily

None

3 days

Balanced funds

214

193

—

Daily

None

2 days

Fixed income fund

150

133

—

Daily

None

3 days

Managed Portfolio - Fixed Income Mutual Fund ⁽²⁾

—

Daily

None

1 days

Limited Partnerships:

International equity fund

142

117

—

Monthly

None

3 days

Offshore feeder fund

—

Monthly

None

14 days

Total

$1,024

$918

$—

⁽¹⁾ The equity mutual fund seeks to offer participants capital appreciation by primarily investing in common stocks via investments in several underlying funds of the same fund family. The principal investment objective is to generate positive total return.

⁽²⁾ The managed portfolio fixed income mutual fund seeks to outperform the Barclay’s U.S. Long Credit Index or similar benchmark.

Qualified Plan

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Allocation of Plan Assets

The qualified plan’s allocation by asset category is presented below:



	Target Asset Allocation	Actual Asset Allocation
Asset Category	2017	2017		2016
Equity securities	48-58%	54.0	%	49.6	%
Debt securities	41-51%	45.0	%	45.2	%
Other		1.0	%	5.2	%
Total		100.0	%	100.0	%

Postretirement Benefit Plan

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Assumptions Used in Determining Benefit Obligations and Net Periodic Benefit Cost

Weighted-average rates assumed in determining the net periodic benefit cost of the postretirement benefits plan are as follows:



	For the Year Ended December 31,
(dollars in millions)	2017			2016
Discount rate	3.530		%	3.930		%
Rate of compensation increase	N/A			N/A
Ultimate health care cost trend rate	5.000		%	5.000		%

Effect on accumulated postretirement benefit obligation:
One percent increase in assumed health care cost trend		$—			$—
One percent decrease in assumed health care cost trend	—			—

Schedule of Expected Benefit Payments

Expected future benefit payments for the postretirement benefit plan are presented below:



	(in millions)
Expected benefit payments by fiscal year ending
December 31, 2018		$2
December 31, 2019	2
December 31, 2020	1
December 31, 2021	1
December 31, 2022	1
December 31, 2023 - 2027	5

Qualified and Non-Qualified Plans

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Assumptions Used in Determining Benefit Obligations and Net Periodic Benefit Cost

Weighted-average rates assumed in determining the actuarial present value of benefit obligations and net periodic benefit cost are presented below:



	As of and for the Year Ended December 31,
	2017		2016		2015
Assumptions for benefit obligations
Discount rate-qualified plan	3.670	%	4.190	%	4.640	%
Discount rate-non-qualified plan	3.530	%	4.050	%	4.540	%
Expected long-term rate of return on plan assets	7.000	%	7.500	%	7.500	%
Assumptions for net periodic pension cost
Discount rate-qualified plan	4.190	%	4.640	%	4.125	%
Discount rate-non-qualified plan	4.050	%	4.540	%	3.875	%
Expected long-term rate of return on plan assets	7.000	%	7.500	%	7.500	%