XML 55 R39.htm IDEA: XBRL DOCUMENT v3.10.0.1
Pension Benefit Plans and Other Postretirement Benefits (Tables)
12 Months Ended
Dec. 31, 2018
Pension Benefit Plans  
Defined Benefit Plans and Other Postretirement Benefit Plans  
Changes in the benefit obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2018

    

2017

    

2018

    

2017

 

Obligations at beginning of year

 

$

1,650

 

$

1,956

 

$

1,148

 

$

1,235

 

Change in benefit obligations:

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

 

14

 

 

14

 

 

15

 

 

15

 

Interest cost

 

 

59

 

 

78

 

 

32

 

 

40

 

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

 

 

(108)

 

 

123

 

 

(23)

 

 

(15)

 

Settlements

 

 

(114)

 

 

(393)

 

 

(35)

 

 

(171)

 

Participant contributions

 

 

 

 

 

 

 

 

 2

 

 

 1

 

Benefit payments

 

 

(91)

 

 

(128)

 

 

(51)

 

 

(60)

 

Other

 

 

 3

 

 

 

 

 

(2)

 

 

 

 

Foreign currency translation

 

 

 

 

 

 

 

 

(64)

 

 

103

 

Net change in benefit obligations

 

 

(237)

 

 

(306)

 

 

(126)

 

 

(87)

 

Obligations at end of year

 

$

1,413

 

$

1,650

 

$

1,022

 

$

1,148

 

 

Changes in the fair value of the pension plans' assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2018

    

2017

    

2018

    

2017

 

Fair value at beginning of year

 

$

1,394

 

$

1,654

 

$

975

 

$

1,011

 

Change in fair value:

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual gain (loss) on plan assets

 

 

(96)

 

 

254

 

 

(15)

 

 

87

 

Benefit payments

 

 

(91)

 

 

(128)

 

 

(51)

 

 

(60)

 

Employer contributions

 

 

 1

 

 

 7

 

 

33

 

 

24

 

Participant contributions

 

 

 

 

 

 

 

 

 2

 

 

 1

 

Settlements

 

 

(114)

 

 

(393)

 

 

(35)

 

 

(171)

 

Foreign currency translation

 

 

 

 

 

 

 

 

(58)

 

 

83

 

Other

 

 

 

 

 

 

 

 

(8)

 

 

 

 

Net change in fair value of assets

 

 

(300)

 

 

(260)

 

 

(132)

 

 

(36)

 

Fair value at end of year

 

$

1,094

 

$

1,394

 

$

843

 

$

975

 

 

Funded status

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

 

2018

 

2017

 

2018

 

2017

 

Plan assets at fair value

    

$

1,094

    

$

1,394

    

$

843

    

$

975

 

Projected benefit obligations

 

 

1,413

 

 

1,650

 

 

1,022

 

 

1,148

 

Plan assets less than projected benefit obligations

 

 

(319)

 

 

(256)

 

 

(179)

 

 

(173)

 

Items not yet recognized in pension expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial loss

 

 

785

 

 

811

 

 

285

 

 

284

 

Prior service cost (credit)

 

 

 

 

 

 1

 

 

 4

 

 

(2)

 

 

 

 

785

 

 

812

 

 

289

 

 

282

 

Net amount recognized

 

$

466

 

$

556

 

$

110

 

$

109

 

 

Net amount recognized included in the Consolidated Balance Sheets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2018

    

2017

    

2018

    

2017

 

Pension assets

 

$

 —

 

$

 —

 

$

44

 

$

49

 

Current pension liability, included with other accrued liabilities

 

 

(3)

 

 

(2)

 

 

(5)

 

 

(5)

 

Pension benefits

 

 

(316)

 

 

(254)

 

 

(218)

 

 

(217)

 

Accumulated other comprehensive loss

 

 

785

 

 

812

 

 

289

 

 

282

 

Net amount recognized

 

$

466

 

$

556

 

$

110

 

$

109

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2018

    

2017

    

2018

    

2017

 

Current year actuarial (gain) loss

 

$

86

 

$

(2)

 

$

43

 

$

(40)

 

Amortization of actuarial loss

 

 

(51)

 

 

(57)

 

 

(11)

 

 

(16)

 

Settlement

 

 

(61)

 

 

(176)

 

 

(13)

 

 

(42)

 

Other

 

 

(1)

 

 

 

 

 

 6

 

 

 

 

 

 

 

(27)

 

 

(235)

 

 

25

 

 

(98)

 

Translation

 

 

 

 

 

 

 

 

(18)

 

 

30

 

Change in accumulated other comprehensive income

 

$

(27)

 

$

(235)

 

$

 7

 

$

(68)

 

 

Components of net periodic pension cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

 

2018

 

2017

 

2016

 

2018

 

2017

 

2016

 

Service cost

    

$

14

    

$

14

    

$

15

    

$

15

    

$

15

    

$

16

 

Interest cost

 

 

59

 

 

78

 

 

90

 

 

32

 

 

40

 

 

44

 

Expected asset return

 

 

(98)

 

 

(128)

 

 

(149)

 

 

(52)

 

 

(63)

 

 

(65)

 

Amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial loss

 

 

51

 

 

57

 

 

67

 

 

11

 

 

16

 

 

13

 

Net expense

 

$

26

 

$

21

 

$

23

 

$

 6

 

$

 8

 

$

 8

 

 

Amounts amortized from accumulated other comprehensive income during 2015

 

 

 

 

 

 

 

 

 

    

U.S.

    

Non-U.S.

 

Actuarial loss

 

$

40

 

$

10

 

 

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.

 

 

    

2018

 

2017

    

2018

 

2017

    

2018

 

2017

    

2018

 

2017

 

Projected benefit obligations

 

$

1,413

 

$

1,650

 

$

815

 

$

905

 

$

1,413

 

$

1,650

 

$

815

 

$

261

 

Accumulated benefit obligation

 

 

1,412

 

 

1,650

 

 

793

 

 

878

 

 

1,412

 

 

1,650

 

 

793

 

 

241

 

Fair value of plan assets

 

 

1,094

 

 

1,394

 

 

591

 

 

682

 

 

1,094

 

 

1,394

 

 

591

 

 

39

 

 

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.

 

 

    

2018

    

2017

    

2018

    

2017

 

Discount rate

 

4.36

%  

3.69

%  

3.01

%  

2.76

%

Rate of compensation increase

 

N/A

 

N/A

 

2.75

%  

2.78

%

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

 

2018

 

2017

 

2016

 

2018

 

2017

 

2016

 

Discount rate

    

3.69

%  

4.17

%  

4.43

%  

2.76

%  

2.94

%  

3.68

%

Rate of compensation increase

 

N/A

 

N/A

 

N/A

%  

2.78

%  

2.90

%  

2.84

%

Expected long-term rate of return on assets

 

7.25

%  

7.50

%  

7.50

%  

5.52

%  

6.32

%  

7.15

%

 

Fair value of defined benefit pension plan assets and target allocations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

2017

 

 

    

Level 1

    

Level 2

    

Level 3

 

Total

    

Level 1

    

Level 2

    

Level 3

 

Total

    

Cash and cash equivalents

 

$

 9

 

$

 —

 

$

 —

 

$

 9

 

$

 9

 

$

 —

 

$

 —

 

$

 9

 

Equity securities

 

 

 

 

 

 

 

 

 

 

 

 —

 

 

 

 

 

 

 

 

 

 

 

 —

 

Debt securities

 

 

34

 

 

 7

 

 

 

 

 

41

 

 

33

 

 

 

 

 

 

 

 

33

 

Real estate

 

 

 

 

 

 

 

 

 

 

 

 —

 

 

 

 

 

 

 

 

 

 

 

 —

 

Other

 

 

 

 

 

30

 

 

 

 

 

30

 

 

 

 

 

27

 

 

 

 

 

27

 

Total

 

$

43

 

$

37

 

$

 —

 

 

 

 

$

42

 

$

27

 

$

 —

 

 

 

 

Investments measured at net asset value

 

 

 

 

 

 

 

 

 

 

$

763

 

 

 

 

 

 

 

 

 

 

$

906

 

Total non-U.S. assets at fair value

 

 

 

 

 

 

 

 

 

 

$

843

 

 

 

 

 

 

 

 

 

 

$

975

 

 

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

 

 

 

 

 

 

 

 

 

    

2018

    

2017

 

Beginning balance

 

$

 —

 

$

10

 

Net increase (decrease)

 

 

 

 

 

(10)

 

Ending balance

 

$

 —

 

$

 —

 

 

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

 

 

 

 

 

 

 

Year(s)

    

U.S.

    

Non-U.S.

2019

 

$

102

 

$

47

2020

 

 

100

 

 

48

2021

 

 

99

 

 

51

2022

 

 

99

 

 

54

2023

 

 

97

 

 

56

2024-2028

 

 

463

 

 

279

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2018

    

2017

    

2018

    

2017

 

Obligations at beginning of year

 

$

89

 

$

92

 

$

89

 

$

81

 

Change in benefit obligations:

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

 

 

 

 

 

 

 

 1

 

 

 1

 

Interest cost

 

 

 3

 

 

 4

 

 

 3

 

 

 3

 

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

 

 

(9)

 

 

 

 

 

(4)

 

 

 1

 

Benefit payments

 

 

(9)

 

 

(7)

 

 

(2)

 

 

(2)

 

Foreign currency translation

 

 

 

 

 

 

 

 

(7)

 

 

 5

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in benefit obligations

 

 

(15)

 

 

(3)

 

 

(9)

 

 

 8

 

Obligations at end of year

 

$

74

 

$

89

 

$

80

 

$

89

 

 

Funded status

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2018

    

2017

    

2018

    

2017

 

Postretirement benefit obligations

 

$

(74)

 

$

(89)

 

$

(80)

 

$

(89)

 

Items not yet recognized in net postretirement benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial gain (loss)

 

 

(8)

 

 

(19)

 

 

(2)

 

 

(7)

 

Prior service credit

 

 

15

 

 

22

 

 

 

 

 

 

 

 

 

 

 7

 

 

 3

 

 

(2)

 

 

(7)

 

Net amount recognized

 

$

(67)

 

$

(86)

 

$

(82)

 

$

(96)

 

 

Net amount recognized included in the Consolidated Balance Sheets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2018

    

2017

    

2018

    

2017

 

Current nonpension postretirement benefit, included with Other accrued liabilities

 

$

(6)

 

$

(8)

 

$

(3)

 

$

(3)

 

Nonpension postretirement benefits

 

 

(68)

 

 

(81)

 

 

(77)

 

 

(86)

 

Accumulated other comprehensive income (loss)

 

 

 7

 

 

 3

 

 

(2)

 

 

(7)

 

Net amount recognized

 

$

(67)

 

$

(86)

 

$

(82)

 

$

(96)

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2018

    

2017

    

2018

    

2017

 

Current year actuarial (gain) loss

 

$

(8)

 

$

 —

 

$

(4)

 

$

 1

 

Amortization of actuarial loss

 

 

(2)

 

 

(2)

 

 

 

 

 

 

 

Amortization of prior service credit

 

 

 7

 

 

 8

 

 

 

 

 

 

 

 

 

$

(3)

 

$

 6

 

$

(4)

 

$

 1

 

 

Components of net periodic pension cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2018

    

2017

    

2016

    

2018

    

2017

    

2016

 

Service cost

 

$

 —

 

$

 —

 

$

 —

 

$

 1

 

$

 1

 

$

 1

 

Interest cost

 

 

 3

 

 

 4

 

 

 4

 

 

 3

 

 

 3

 

 

 3

 

Amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial loss

 

 

 2

 

 

 2

 

 

 2

 

 

 

 

 

 

 

 

 

 

Prior service credit

 

 

(7)

 

 

(8)

 

 

(8)

 

 

 

 

 

 

 

 

 

 

Net amortization

 

 

(5)

 

 

(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.

 

 

    

2018

    

2017

    

2016

    

2018

    

2017

    

2016

 

Accumulated postretirement benefit obligation

 

4.30

%  

3.61

%  

4.11

%  

3.60

%  

3.35

%  

3.55

%  

Net postretirement benefit cost

 

3.61

%  

4.11

%  

4.35

%  

3.35

%  

3.55

%  

3.80

%  

 

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

 

 

 

 

 

 

 

 

Year(s)

    

U.S.

    

Non-U.S.

 

2019

 

$

 7

 

$

 3

 

2020

 

 

 7

 

 

 3

 

2021

 

 

 6

 

 

 3

 

2022

 

 

 6

 

 

 3

 

2023

 

 

 6

 

 

 4

 

2024  -  2028

 

 

25

 

 

19

 

 

Weighted average assumed health care cost trend rates

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2018

    

2017

    

2018

    

2017

 

Health care cost trend rate assumed for next year

 

6.00

%  

6.20

%  

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

 

2025

 

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

 

$

(1)

 

Effect on accumulated postretirement benefit obligations

 

 

 3

 

 

(2)

 

 

14

 

 

(11)