Postretirement benefits (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Net Funded Status [Table Text Block]

Obligations and funded status

The funded status of the pension and other postretirement benefit plans as well as the amounts recognized in Accumulated other comprehensive income at December 31, 2018 and 2017 was as follows:



	Pension Benefit Plans												Other Postretirement Benefit Plans
	2018						2017						2018			2017
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
(in millions of U.S. dollars)	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Benefit obligation, beginning of year	$	3,285		$	1,077		$	3,035		$	1,025		$	137		$	165
Service cost	57			12			63			17			1			2
Interest cost	105			27			105			27			3			4
Actuarial loss (gain)	(214		)	(71		)	232			(4		)	(20		)	(2		)
Benefits paid	(108		)	(26		)	(132		)	(28		)	(15		)	(14		)
Amendments	—			4			—			—			—			(23		)
Curtailments	—			—			—			(32		)	—			2
Settlements	(33		)	(27		)	(18		)	(8		)	—			—
Foreign currency revaluation and other	—			(54		)	—			80			7			3
Benefit obligation, end of year	$	3,092		$	942		$	3,285		$	1,077		$	113		$	137
Plan assets at fair value, beginning of year	$	3,109		$	1,172		$	2,765		$	962		$	157		$	159
Actual return on plan assets	(218		)	(63		)	441			100			1			6
Employer contributions	34			14			53			63			—			6
Benefits paid	(108		)	(26		)	(132		)	(28		)	(15		)	(14		)
Settlements	(33		)	(27		)	(18		)	(8		)	—			—
Foreign currency revaluation and other	—			(62		)	—			83			—			—
Plan assets at fair value, end of year	$	2,784		$	1,008		$	3,109		$	1,172		$	143		$	157
Funded status at end of year	$	(308	)	$	66		$	(176	)	$	95		$	30		$	20
Amounts recognized in Accumulated other comprehensive income, not yet recognized in net periodic cost (benefit):
Net actuarial loss (gain)	$	(15	)	$	112		$	(227	)	$	82		$	—		$	12
Prior service cost (benefit)	—			9			—			6			(200		)	(288		)
Total	$	(15	)	$	121		$	(227	)	$	88		$	(200	)	$	(276	)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

The funded status of the pension and other postretirement benefit plans as well as the amounts recognized in Accumulated other comprehensive income at December 31, 2018 and 2017 was as follows:



	Pension Benefit Plans												Other Postretirement Benefit Plans
	2018						2017						2018			2017
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
(in millions of U.S. dollars)	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Benefit obligation, beginning of year	$	3,285		$	1,077		$	3,035		$	1,025		$	137		$	165
Service cost	57			12			63			17			1			2
Interest cost	105			27			105			27			3			4
Actuarial loss (gain)	(214		)	(71		)	232			(4		)	(20		)	(2		)
Benefits paid	(108		)	(26		)	(132		)	(28		)	(15		)	(14		)
Amendments	—			4			—			—			—			(23		)
Curtailments	—			—			—			(32		)	—			2
Settlements	(33		)	(27		)	(18		)	(8		)	—			—
Foreign currency revaluation and other	—			(54		)	—			80			7			3
Benefit obligation, end of year	$	3,092		$	942		$	3,285		$	1,077		$	113		$	137
Plan assets at fair value, beginning of year	$	3,109		$	1,172		$	2,765		$	962		$	157		$	159
Actual return on plan assets	(218		)	(63		)	441			100			1			6
Employer contributions	34			14			53			63			—			6
Benefits paid	(108		)	(26		)	(132		)	(28		)	(15		)	(14		)
Settlements	(33		)	(27		)	(18		)	(8		)	—			—
Foreign currency revaluation and other	—			(62		)	—			83			—			—
Plan assets at fair value, end of year	$	2,784		$	1,008		$	3,109		$	1,172		$	143		$	157
Funded status at end of year	$	(308	)	$	66		$	(176	)	$	95		$	30		$	20
Amounts recognized in Accumulated other comprehensive income, not yet recognized in net periodic cost (benefit):
Net actuarial loss (gain)	$	(15	)	$	112		$	(227	)	$	82		$	—		$	12
Prior service cost (benefit)	—			9			—			6			(200		)	(288		)
Total	$	(15	)	$	121		$	(227	)	$	88		$	(200	)	$	(276	)

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]

The following table provides information on pension plans where the benefit obligation is in excess of plan assets at December 31, 2018 and 2017:



	2018						2017
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
(in millions of U.S. dollars)	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation	$	3,092		$	222		$	3,285		$	216
Fair value of plan assets	2,784			170			3,109			166
Net funded status	$	(308	)	$	(52	)	$	(176	)	$	(50	)
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation	$	3,066		$	115		$	3,223		$	152
Fair value of plan assets	$	2,784		$	86		$	3,109		$	123

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]

The following table provides information on pension plans where the benefit obligation is in excess of plan assets at December 31, 2018 and 2017:



	2018						2017
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
(in millions of U.S. dollars)	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation	$	3,092		$	222		$	3,285		$	216
Fair value of plan assets	2,784			170			3,109			166
Net funded status	$	(308	)	$	(52	)	$	(176	)	$	(50	)
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation	$	3,066		$	115		$	3,223		$	152
Fair value of plan assets	$	2,784		$	86		$	3,109		$	123

Schedule of Assumptions Used [Table Text Block]

The weighted-average assumptions used to determine the projected benefit obligation were as follows:



	Pension Benefit Plans
	U.S. Plans		Non-U.S. Plans		Other Postretirement Benefit Plans
	U.S. Plans		Non-U.S. Plans		Other Postretirement Benefit Plans
December 31, 2018
Discount rate	4.20	%	3.10	%	3.78	%
Rate of compensation increase	4.00	%	3.37	%	N/A
Interest crediting rate	4.10	%
December 31, 2017
Discount rate	3.59	%	2.76	%	2.77	%
Rate of compensation increase	4.00	%	3.46	%	N/A
Interest crediting rate	4.10	%

Schedule of Net Benefit Costs [Table Text Block]

The components of net pension and other postretirement benefit costs reflected in Net income and other changes in plan assets and benefit obligations recognized in other comprehensive income were as follows:



	Pension Benefit Plans																		Other Postretirement Benefit Plans
	U.S. Plans									Non-U.S. Plans									Other Postretirement Benefit Plans
Year Ended December 31	2018			2017			2016			2018			2017			2016			2018			2017			2016
(in millions of U.S. dollars)	2018			2017			2016			2018			2017			2016			2018			2017			2016
Costs reflected in Net income:
Service cost	$	57		$	63		$	75		$	12		$	17		$	18		$	1		$	2		$	10
Non-service cost:
Interest cost	105			105			103			27			27			30			3			4			17
Expected return on plan assets	(212		)	(189		)	(165		)	(50		)	(42		)	(39		)	(5		)	(5		)	(8		)
Amortization of net actuarial loss (gain)	—			—			—			1			3			2			—			—			(1		)
Amortization of prior service cost	—			—			—			—			—			(1		)	(85		)	(89		)	(15		)
Curtailments	—			—			(117		)	—			(27		)	—			(2		)	(37		)	—
Settlements	2			—			(2		)	3			—			1			—			—			—
Total non-service (benefit) cost	(105		)	(84		)	(181		)	(19		)	(39		)	(7		)	(89		)	(127		)	(7		)
Net periodic (benefit) cost	$	(48	)	$	(21	)	$	(106	)	$	(7	)	$	(22	)	$	11		$	(88	)	$	(125	)	$	3
Changes in plan assets and benefit obligations recognized in other comprehensive income
Net actuarial loss (gain)	$	214		$	(21	)	$	(326	)	$	34		$	(57	)	$	49		$	(11	)	$	(3	)	$	17
Prior service cost (benefit)	—			—			—			3			—			(8		)	—			(23		)	(395		)
Amortization of net actuarial loss	—			—			—			(1		)	(3		)	—			(1		)	—			—
Amortization of prior service cost	—			—			—			—			—			—			85			89			—
Curtailments	—			—			117			—			(6		)	—			3			39			—
Settlements	(2		)	1			2			(3		)	—			(1		)	—			—			—
Total decrease (increase) in other comprehensive income	$	212		$	(20	)	$	(207	)	$	33		$	(66	)	$	40		$	76		$	102		$	(378	)

The service and non-service cost components of net periodic (benefit) cost reflected in the Consolidated statements of operations were as follows:



	Pension Benefit Plans									Other Postretirement Benefit Plans
Year Ended December 31	2018			2017			2016			2018			2017			2016
(in millions of U.S. dollars)	2018			2017			2016			2018			2017			2016
Service Cost:
Losses and loss expenses	$	7		$	7		$	8		$	—		$	—		$	—
Administrative expenses	62			73			85			1			2			10
Total service cost	69			80			93			1			2			10
Non-Service Cost:
Losses and loss expenses	(10		)	(8		)	(18		)	(9		)	(13		)	—
Administrative expenses	(114		)	(115		)	(170		)	(80		)	(114		)	(7		)
Total non-service (benefit) cost	(124		)	(123		)	(188		)	(89		)	(127		)	(7		)
Net periodic (benefit) cost	$	(55	)	$	(43	)	$	(95	)	$	(88	)	$	(125	)	$	3

Schedule of assumptions used, net periodic benefit costs [Table Text Block]

he weighted-average assumptions used to determine the net periodic pension and other postretirement benefit costs were as follows:



	Pension Benefit Plans
	U.S. Plans		Non-U.S. Plans		Other Postretirement Benefit Plans
Year Ended December 31	U.S. Plans		Non-U.S. Plans		Other Postretirement Benefit Plans
2018
Discount rate in effect for determining service cost	3.62	%	3.97	%	2.84	%
Discount rate in effect for determining interest cost	3.27	%	2.55	%	2.62	%
Rate of compensation increase	4.00	%	3.46	%	N/A
Expected long-term rate of return on plan assets	7.00	%	4.32	%	2.59	%
Interest crediting rate	4.10	%
2017
Discount rate in effect for determining service cost	4.20	%	3.55	%	2.84	%
Discount rate in effect for determining interest cost	3.53	%	2.61	%	2.44	%
Rate of compensation increase	4.00	%	3.57	%	N/A
Expected long-term rate of return on plan assets	7.00	%	4.23	%	3.00	%
Interest crediting rate	4.10	%
2016
Discount rate in effect for determining service cost	4.38	%	3.85	%	4.32	%
Discount rate in effect for determining interest cost	3.59	%	3.44	%	4.02	%
Rate of compensation increase	4.00	%	3.33	%	N/A
Expected long-term rate of return on plan assets	7.00	%	4.79	%	6.34	%
Interest crediting rate	4.10	%

Schedule of Health Care Cost Trend Rates [Table Text Block]

The weighted-average healthcare cost trend rate assumptions used to measure the expected cost of healthcare benefits were as follows:



	U.S. Plans						Non-U.S. Plans
	2018		2017		2016		2018		2017		2016
Healthcare cost trend rate	6.68	%	7.01	%	7.28	%	6.29	%	6.61	%	6.61	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.50	%	4.50	%	4.50	%	4.50	%	4.50	%	4.50	%
Year that the rate reaches the ultimate trend rate	2038		2038		2038		2029		2029		2029

Schedule of Allocation of Plan Assets [Table Text Block]

The following tables present the fair values of the pension plan assets, by valuation hierarchy. For additional information on how we classify these assets within the valuation hierarchy, refer to Note 3 to the Consolidated financial statements.



December 31, 2018	Pension Benefit Plans
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
U.S. Plans:
Short-term investments	$	10	$	74	$	—	$	84
U.S. Treasury and agency	433		82		—		515
Foreign and corporate bonds	—		641		—		641
Equity securities	1,050		—		—		1,050
Total U.S. Plan assets ⁽¹⁾	$	1,493	$	797	$	—	$	2,290
Non-U.S. Plans:
Short-term investments	$	7	$	—	$	—	$	7
Foreign and corporate bonds	—		418		—		418
Equity securities	103		371		—		474
Total Non-U.S. Plan assets⁽¹⁾	$	110	$	789	$	—	$	899


⁽¹⁾	Excluded from the table above are $494 million and $109 million of other investments measured using NAV as a practical expedient related to the U.S. Plans and Non-U.S. Plans, respectively.



December 31, 2017	Pension Benefit Plans
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
U.S. Plans:
Short-term investments	$	9	$	52	$	—	$	61
U.S. Treasury and agency	446		79		—		525
Foreign and corporate bonds	—		692		—		692
Equity securities	1,154		—		—		1,154
Total U.S. Plan assets ⁽¹⁾	$	1,609	$	823	$	—	$	2,432
Non-U.S. Plans:
Short-term investments	$	5	$	—	$	—	$	5
Foreign and corporate bonds	—		456		—		456
Equity securities	122		492		—		614
Total Non-U.S. Plan assets ⁽¹⁾	$	127	$	948	$	—	$	1,075


⁽¹⁾	Excluded from the table above are $677 million and $95 million of other investments measured using NAV as a practical expedient related to the U.S. Plans and Non-U.S. Plans, re

Schedule of expected future benefit payments

Expected future payments are as follows:



	Pension Benefit Plans				Other Postretirement Benefit Plans
For the years ending December 31	U.S. Plans		Non-U.S. Plans
(in millions of U.S. dollars)	U.S. Plans		Non-U.S. Plans
2019	$	140	$	26	$	18
2020	148		28		19
2021	155		27		21
2022	162		26		22
2023	168		28		18
2024-2028	909		155		19