Pension and Other Post-Retirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Pension Other Post Retirement Benefits and Employee Benefit Plans Abstract

Components net periodic benefit cost (credit)

	U.S. and Non-U.S. Pension Benefits
	Year Ended December 31,
	2020		2019		2018
	(in millions)
Service cost	$	—	$	—	$	1
Interest cost		5		6		6
Expected return on plan assets		(5)		(4)		(5)
Amortization of actuarial losses		1		1		1
Settlement loss recognized		—		—		7
	$	1	$	3	$	10

Changes in benefit obligations and plan assets, and funded status of plans

	U.S and Non-U.S. Pension Benefits
	2020		2019
	(in millions)
Change in benefit obligation:
Benefit obligation, beginning of year	$	154	$	146
Interest cost		5		6
Benefits paid		(7)		(7)
Actuarial loss		11		11
Currency translation		3		(2)
Benefit obligation, end of year		166		154
Change in plan assets:
Fair value of plan assets, beginning of year		90		77
Actual return on plan assets		10		15
Employer contributions		1		5
Benefits paid		(7)		(7)
Fair value of plan assets, end of year		94		90
Funded status of the plan and amounts recognized in the consolidated balance sheets	$	(72)	$	(64)

Defined benefit plan assets measured at fair value on a recurring basis

	December 31, 2020						December 31, 2019
	Level 1		Level 2		Total		Level 1		Level 2		Total
	(in millions)
U.S. and Non-U.S. Plans:
Cash and cash equivalents	$	7	$	—	$	7	$	3	$	—	$	3
Government debt securities		3		6		9		1		2		3
Exchange traded funds		13		—		13		18		—		18
Mutual funds		40		2		42		26		2		28
Common stock		23		—		23		27		—		27
	$	86	$	8	$	94	$	75	$	4	$	79
Investments measured at net asset value						—						11
Plan assets measured at fair value					$	94					$	90