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EMPLOYEE BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
The following table presents changes in the fair value of the Company’s Pension Plans’ assets, projected benefit obligation, funded status, and accumulated benefit obligation:
 
Year Ended December 31,
 
Qualified Plan
 
Non-Qualified Plan
(in millions)
2019

 
2018

 
2019

 
2018

Fair value of plan assets as of January 1

$1,050

 

$1,139

 

$—

 

$—

Actual return on plan assets
259

 
(81
)
 
—

 
—

Employer contributions
—

 
50

 
8

 
8

Benefits and administrative expenses paid
(63
)
 
(58
)
 
(8
)
 
(8
)
Fair value of plan assets as of December 31
1,246

 
1,050

 
—

 
—

Projected benefit obligation
1,075

 
972

 
102

 
95

Pension asset (obligation)

$171

 

$78

 

($102
)
 

($95
)
Accumulated benefit obligation

$1,075

 

$972

 

$102

 

$95
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
The following table presents other changes in plan assets and benefit obligations recognized in OCI for the Company’s Pension Plans:
 
Year Ended December 31,
(in millions)
2019

 
2018

 
2017

Net periodic pension income

($5
)
 

($16
)
 

($2
)
Net actuarial (gain) loss
(49
)
 
49

 
(31
)
Amortization of prior service credit
—

 
1

 
1

Amortization of net actuarial loss
(19
)
 
(17
)
 
(18
)
Total (loss) gain recognized in other comprehensive loss
(68
)
 
33

 
(48
)
Total (loss) gain recognized in net periodic pension (income) cost and other comprehensive loss

($73
)
 

$17

 

($50
)
Schedule of Net Periodic (Income) Cost
The following table presents the components of net periodic pension (income) cost for the Company’s Pension Plans:
 
Year Ended December 31,
 
Qualified Plan
 
Non-Qualified Plan
 
Total
(in millions)
2019

 
2018

 
2017

 
2019

 
2018

 
2017

 
2019

 
2018

 
2017

Service cost

$3

 

$3

 

$3

 

$—

 

$—

 

$—

 

$3

 

$3

 

$3

Interest cost
41

 
39

 
42

 
4

 
4

 
4

 
45

 
43

 
46

Expected return on plan assets
(72
)
 
(79
)
 
(69
)
 
—

 
—

 
—

 
(72
)
 
(79
)
 
(69
)
Amortization of actuarial loss
17

 
15

 
16

 
2

 
2

 
2

 
19

 
17

 
18

Net periodic pension (income) cost(1)

($11
)
 

($22
)
 

($8
)
 

$6

 

$6

 

$6

 

($5
)
 

($16
)
 

($2
)

(1) In the Consolidated Statements of Operations, service cost is presented in salaries and employee benefits, and all other components of net periodic pension (income) cost are presented in other operating expense.

Schedule of Expected Benefit Payments
The following table presents the expected future benefit payments for the Company’s Pension Plans:
 
(in millions)

Expected benefit payments by fiscal year ending:
 
December 31, 2020

$67

December 31, 2021
68

December 31, 2022
68

December 31, 2023
68

December 31, 2024
69

December 31, 2025 - 2029
348