XML 55 R38.htm IDEA: XBRL DOCUMENT v3.8.0.1
Pension Benefit Plans and Other Postretirement Benefits (Tables)
12 Months Ended
Dec. 31, 2017
Pension Benefit Plans  
Defined Benefit Plans and Other Postretirement Benefit Plans  
Changes in the benefit obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2017

    

2016

    

2017

    

2016

 

Obligations at beginning of year

 

$

1,956

 

$

2,190

 

$

1,235

 

$

1,210

 

Change in benefit obligations:

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

 

14

 

 

15

 

 

15

 

 

16

 

Interest cost

 

 

78

 

 

90

 

 

40

 

 

44

 

Actuarial (gain) loss, including the effect of change in discount rates

 

 

123

 

 

36

 

 

(15)

 

 

160

 

Curtailment, settlement, and plan amendment

 

 

(393)

 

 

(200)

 

 

(171)

 

 

 

 

Participant contributions

 

 

 

 

 

 

 

 

 1

 

 

 2

 

Benefit payments

 

 

(128)

 

 

(175)

 

 

(60)

 

 

(71)

 

Other

 

 

 

 

 

 

 

 

 

 

 

 3

 

Foreign currency translation

 

 

 

 

 

 

 

 

103

 

 

(129)

 

Net change in benefit obligations

 

 

(306)

 

 

(234)

 

 

(87)

 

 

25

 

Obligations at end of year

 

$

1,650

 

$

1,956

 

$

1,148

 

$

1,235

 

 

Changes in the fair value of the pension plans' assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2017

    

2016

    

2017

    

2016

 

Fair value at beginning of year

 

$

1,654

 

$

1,909

 

$

1,011

 

$

1,012

 

Change in fair value:

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual gain (loss) on plan assets

 

 

254

 

 

118

 

 

87

 

 

139

 

Benefit payments

 

 

(128)

 

 

(175)

 

 

(60)

 

 

(71)

 

Employer contributions

 

 

 7

 

 

 2

 

 

24

 

 

38

 

Participant contributions

 

 

 

 

 

 

 

 

 1

 

 

 2

 

Settlements

 

 

(393)

 

 

(200)

 

 

(171)

 

 

 

 

Foreign currency translation

 

 

 

 

 

 

 

 

83

 

 

(111)

 

Other

 

 

 

 

 

 

 

 

 

 

 

 2

 

Net change in fair value of assets

 

 

(260)

 

 

(255)

 

 

(36)

 

 

(1)

 

Fair value at end of year

 

$

1,394

 

$

1,654

 

$

975

 

$

1,011

 

 

Funded status

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

 

2017

 

2016

 

2017

 

2016

 

Plan assets at fair value

    

$

1,394

    

$

1,654

    

$

975

    

$

1,011

 

Projected benefit obligations

 

 

1,650

 

 

1,956

 

 

1,148

 

 

1,235

 

Plan assets less than projected benefit obligations

 

 

(256)

 

 

(302)

 

 

(173)

 

 

(224)

 

Items not yet recognized in pension expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial loss

 

 

811

 

 

1,046

 

 

284

 

 

352

 

Prior service cost (credit)

 

 

 1

 

 

 1

 

 

(2)

 

 

(1)

 

 

 

 

812

 

 

1,047

 

 

282

 

 

351

 

Net amount recognized

 

$

556

 

$

745

 

$

109

 

$

127

 

 

Net amount recognized included in the Consolidated Balance Sheets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2017

    

2016

    

2017

    

2016

 

Pension assets

 

$

 —

 

$

 —

 

$

49

 

$

40

 

Current pension liability, included with other accrued liabilities

 

 

(2)

 

 

(7)

 

 

(5)

 

 

(7)

 

Pension benefits

 

 

(254)

 

 

(295)

 

 

(217)

 

 

(257)

 

Accumulated other comprehensive loss

 

 

812

 

 

1,047

 

 

282

 

 

351

 

Net amount recognized

 

$

556

 

$

745

 

$

109

 

$

127

 

 

Changes in plan assets and/or benefit obligations recognized in accumulated other comprehensive income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2017

    

2016

    

2017

    

2016

 

Current year actuarial (gain) loss

 

$

(2)

 

$

66

 

$

(40)

 

$

87

 

Amortization of actuarial loss

 

 

(57)

 

 

(67)

 

 

(16)

 

 

(12)

 

Settlement

 

 

(176)

 

 

(98)

 

 

(42)

 

 

 

 

 

 

 

(235)

 

 

(99)

 

 

(98)

 

 

75

 

Translation

 

 

 

 

 

 

 

 

30

 

 

(43)

 

Change in accumulated other comprehensive income

 

$

(235)

 

$

(99)

 

$

(68)

 

$

32

 

 

Components of net periodic pension cost (income) and net periodic postretirement (benefit) cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

 

2017

 

2016

 

2015

 

2017

 

2016

 

2015

 

Service cost

    

$

14

    

$

15

    

$

24

    

$

15

    

$

16

    

$

15

 

Interest cost

 

 

78

 

 

90

 

 

96

 

 

40

 

 

44

 

 

44

 

Expected asset return

 

 

(128)

 

 

(149)

 

 

(170)

 

 

(63)

 

 

(65)

 

 

(67)

 

Amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial loss

 

 

57

 

 

67

 

 

74

 

 

16

 

 

13

 

 

15

 

Net expense

 

$

21

 

$

23

 

$

24

 

$

 8

 

$

 8

 

$

 7

 

 

Amounts amortized from accumulated other comprehensive income during 2015

 

 

 

 

 

 

 

 

 

    

U.S.

    

Non-U.S.

 

Actuarial loss

 

$

52

 

$

13

 

 

Information for plans with projected and accumulated benefit obligations in excess of the fair value of plan assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Projected Benefit Obligation Exceeds 

 

Accumulated Benefit Obligation Exceeds

 

 

 

the Fair Value of Plan Assets

 

the Fair Value of Plan Assets

 

 

 

U.S.

 

Non-U.S.

 

U.S.

 

Non-U.S.

 

 

    

2017

 

2016

    

2017

 

2016

    

2017

 

2016

    

2017

 

2016

 

Projected benefit obligations

 

$

1,650

 

$

1,956

 

$

905

 

$

897

 

$

1,650

 

$

1,956

 

$

261

 

$

897

 

Accumulated benefit obligation

 

 

1,650

 

 

1,956

 

 

878

 

 

867

 

 

1,650

 

 

1,956

 

 

241

 

 

867

 

Fair value of plan assets

 

 

1,394

 

 

1,654

 

 

682

 

 

632

 

 

1,394

 

 

1,654

 

 

39

 

 

632

 

 

Weighted average assumptions used to determine benefit obligations and net periodic pension costs for pension plans, and accumulated postretirement benefit obligation and net postretirement benefit cost for postretirement plans

The weighted average assumptions used to determine benefit obligations are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2017

    

2016

    

2017

    

2016

 

Discount rate

 

3.69

%  

4.17

%  

2.76

%  

2.94

%

Rate of compensation increase

 

N/A

 

N/A

 

2.78

%  

2.90

%

The weighted average assumptions used to determine net periodic pension costs are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

 

2017

 

2016

 

2015

 

2017

 

2016

 

2015

 

Discount rate

    

4.17

%  

4.43

%  

4.05

%  

2.94

%  

3.68

%  

3.65

%

Rate of compensation increase

 

N/A

 

N/A

 

2.96

%  

2.90

%  

2.84

%  

2.89

%

Expected long-term rate of return on assets

 

7.50

%  

7.50

%  

8.00

%  

6.32

%  

7.15

%  

7.21

%

 

Fair value of defined benefit pension plan assets and target allocations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

2016

 

 

    

Level 1

    

Level 2

    

Level 3

 

Total

    

Level 1

    

Level 2

    

Level 3

 

Total

    

Cash and cash equivalents

 

$

 9

 

$

 —

 

$

 —

 

$

 9

 

$

24

 

$

 —

 

$

 —

 

$

24

 

Equity securities

 

 

 

 

 

 

 

 

 

 

 

 —

 

 

 

 

 

 

 

 

 

 

 

 —

 

Debt securities

 

 

33

 

 

 

 

 

 

 

 

33

 

 

37

 

 

 2

 

 

 

 

 

39

 

Real estate

 

 

 

 

 

 

 

 

 

 

 

 —

 

 

 

 

 

 

 

 

 4

 

 

 4

 

Other

 

 

 

 

 

27

 

 

 

 

 

27

 

 

 

 

 

37

 

 

 6

 

 

43

 

Total

 

$

42

 

$

27

 

$

 —

 

 

 

 

$

61

 

$

39

 

$

10

 

 

 

 

Investments measured at net asset value

 

 

 

 

 

 

 

 

 

 

$

906

 

 

 

 

 

 

 

 

 

 

$

901

 

Total non-U.S. assets at fair value

 

 

 

 

 

 

 

 

 

 

$

975

 

 

 

 

 

 

 

 

 

 

$

1,011

 

 

Reconciliation of pension plan assets recorded at fair value using significant unobservable inputs (Level 3)

 

 

 

 

 

 

 

 

 

    

2017

    

2016

 

Beginning balance

 

$

10

 

$

11

 

Net increase (decrease)

 

 

(10)

 

 

(1)

 

Ending balance

 

$

 —

 

$

10

 

 

Estimated future benefit payments, reflecting expected future service, as appropriate, expected to be paid

 

 

 

 

 

 

 

Year(s)

    

U.S.

    

Non-U.S.

2018

 

$

111

 

$

51

2019

 

 

112

 

 

47

2020

 

 

112

 

 

51

2021

 

 

109

 

 

53

2022

 

 

109

 

 

55

2023-2027

 

 

517

 

 

289

 

Postretirement Benefits Other Than Pensions  
Defined Benefit Plans and Other Postretirement Benefit Plans  
Changes in the benefit obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2017

    

2016

    

2017

    

2016

 

Obligations at beginning of year

 

$

92

 

$

97

 

$

81

 

$

68

 

Change in benefit obligations:

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

 

 

 

 

 

 

 

 1

 

 

 1

 

Interest cost

 

 

 4

 

 

 4

 

 

 3

 

 

 3

 

Actuarial (gain) loss, including the effect of changing discount rates

 

 

 

 

 

(1)

 

 

 1

 

 

 9

 

Benefit payments

 

 

(7)

 

 

(9)

 

 

(2)

 

 

(2)

 

Foreign currency translation

 

 

 

 

 

 

 

 

 5

 

 

 2

 

Other

 

 

 

 

 

 1

 

 

 

 

 

 

 

Net change in benefit obligations

 

 

(3)

 

 

(5)

 

 

 8

 

 

13

 

Obligations at end of year

 

$

89

 

$

92

 

$

89

 

$

81

 

 

Funded status

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2017

    

2016

    

2017

    

2016

 

Postretirement benefit obligations

 

$

(89)

 

$

(92)

 

$

(89)

 

$

(81)

 

Items not yet recognized in net postretirement benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial gain (loss)

 

 

(19)

 

 

(21)

 

 

(7)

 

 

(6)

 

Prior service credit

 

 

22

 

 

30

 

 

 

 

 

 

 

 

 

 

 3

 

 

 9

 

 

(7)

 

 

(6)

 

Net amount recognized

 

$

(86)

 

$

(83)

 

$

(96)

 

$

(87)

 

 

Net amount recognized included in the Consolidated Balance Sheets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2017

    

2016

    

2017

    

2016

 

Current nonpension postretirement benefit, included with Other accrued liabilities

 

$

(8)

 

$

(8)

 

$

(3)

 

$

(3)

 

Nonpension postretirement benefits

 

 

(81)

 

 

(84)

 

 

(86)

 

 

(78)

 

Accumulated other comprehensive income (loss)

 

 

 3

 

 

 9

 

 

(7)

 

 

(6)

 

Net amount recognized

 

$

(86)

 

$

(83)

 

$

(96)

 

$

(87)

 

 

Changes in plan assets and/or benefit obligations recognized in accumulated other comprehensive income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2017

    

2016

    

2017

    

2016

 

Current year actuarial (gain) loss

 

$

 —

 

$

(1)

 

$

 1

 

$

 9

 

Amortization of actuarial loss

 

 

(2)

 

 

(2)

 

 

 

 

 

 

 

Amortization of prior service credit

 

 

 8

 

 

 8

 

 

 

 

 

 

 

 

 

$

 6

 

$

 5

 

$

 1

 

$

 9

 

 

Components of net periodic pension cost (income) and net periodic postretirement (benefit) cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2017

    

2016

    

2015

    

2017

    

2016

    

2015

 

Service cost

 

$

 —

 

$

 —

 

$

 —

 

$

 1

 

$

 1

 

$

 1

 

Interest cost

 

 

 4

 

 

 4

 

 

 4

 

 

 3

 

 

 3

 

 

 3

 

Amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial loss

 

 

 2

 

 

 2

 

 

 2

 

 

 

 

 

 

 

 

 

 

Prior service credit

 

 

(8)

 

 

(8)

 

 

(8)

 

 

 

 

 

 

 

 

 

 

Net amortization

 

 

(6)

 

 

(6)

 

 

(6)

 

 

 —

 

 

 —

 

 

 —

 

Net postretirement benefit (income) cost

 

$

(2)

 

$

(2)

 

$

(2)

 

$

 4

 

$

 4

 

$

 4

 

 

Amounts amortized from accumulated other comprehensive income during 2015

 

 

 

 

 

 

 

 

 

    

U.S.

    

Non-U.S.

 

Amortization:

 

 

 

 

 

 

 

Actuarial loss

 

$

 1

 

$

 —

 

Prior service credit

 

 

(8)

 

 

 

 

Net amortization

 

$

(7)

 

$

 —

 

 

Weighted average assumptions used to determine benefit obligations and net periodic pension costs for pension plans, and accumulated postretirement benefit obligation and net postretirement benefit cost for postretirement plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2017

    

2016

    

2015

    

2017

    

2016

    

2015

 

Accumulated postretirement benefit obligation

 

3.61

%  

4.11

%  

4.35

%  

3.35

%  

3.55

%  

3.80

%  

Net postretirement benefit cost

 

4.11

%  

4.35

%  

3.99

%  

3.55

%  

3.80

%  

3.75

%  

 

Estimated future benefit payments, reflecting expected future service, as appropriate, expected to be paid

 

 

 

 

 

 

 

 

Year(s)

    

U.S.

    

Non-U.S.

 

2018

 

$

 8

 

$

 3

 

2019

 

 

 7

 

 

 3

 

2020

 

 

 7

 

 

 3

 

2021

 

 

 7

 

 

 4

 

2022

 

 

 6

 

 

 4

 

2023  -  2027

 

 

28

 

 

20

 

 

Weighted average assumed health care cost trend rates

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2017

    

2016

    

2017

    

2016

 

Health care cost trend rate assumed for next year

 

6.20

%  

6.40

%  

5.00

%  

5.00

%  

Rate to which the cost trend rate is assumed to decline (ultimate trend rate)

 

5.00

%  

5.00

%  

5.00

%  

5.00

%  

Year that the rate reaches the ultimate trend rate

 

2024

 

2024

 

N/A

 

N/A

 

 

Effects of one-percentage-point change in assumed health care cost trend rates on amount reported for the postretirement benefit plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

 

1-Percentage-Point

 

1-Percentage-Point

 

 

    

Increase

    

Decrease

    

Increase

    

Decrease

 

Effect on total of service and interest cost

 

$

 —

 

$

 —

 

$

 —

 

$

 1

 

Effect on accumulated postretirement benefit obligations

 

 

(4)

 

 

 4

 

 

(6)

 

 

 8