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Postretirement benefits (Tables)
 12 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]  
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, 2020 and 2019 was as follows:
Pension Benefit PlansOther Postretirement
Benefit Plans
2020201920202019
U.S. PlansNon-U.S. PlansU.S. PlansNon-U.S. Plans
(in millions of U.S. dollars)
Benefit obligation, beginning of year$3,569 $1,042 $3,092 $942 $103 $113 
   Service cost— 4 49 11 1 — 
   Interest cost99 22 118 27 2 4 
   Actuarial loss (gain)441 135 443 124 1 3 
   Benefits paid(127)(31)(121)(39)(20)(17)
   Curtailments— (2)— (4)— — 
   Settlements(15)— (12)(61)— — 
   Foreign currency revaluation and other— 29 — 42 (1)— 
Benefit obligation, end of year$3,967 $1,199 $3,569 $1,042 $86 $103 
Plan assets at fair value, beginning of year$3,301 $1,141 $2,784 $1,008 $152 $143 
   Actual return on plan assets563 126 636 169 6 9 
   Employer contributions17 19 14 16 1 — 
   Benefits paid(127)(31)(121)(39)(39)— 
   Settlements(15)— (12)(61)— — 
   Foreign currency revaluation and other— 29 — 48 — — 
Plan assets at fair value, end of year$3,739 $1,284 $3,301 $1,141 $120 $152 
Funded status at end of year$(228)$85 $(268)$99 $34 $49 
Amounts recognized in Accumulated other comprehensive
income, not yet recognized in net periodic cost (benefit):
Net actuarial loss (gain)$78 $163 $(21)$110 $(5)$(3)
Prior service cost (benefit)— 9 — 10 (31)(114)
Total$78 $172 $(21)$120 $(36)$(117)
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, 2020 and 2019 was as follows:
Pension Benefit PlansOther Postretirement
Benefit Plans
2020201920202019
U.S. PlansNon-U.S. PlansU.S. PlansNon-U.S. Plans
(in millions of U.S. dollars)
Benefit obligation, beginning of year$3,569 $1,042 $3,092 $942 $103 $113 
   Service cost— 4 49 11 1 — 
   Interest cost99 22 118 27 2 4 
   Actuarial loss (gain)441 135 443 124 1 3 
   Benefits paid(127)(31)(121)(39)(20)(17)
   Curtailments— (2)— (4)— — 
   Settlements(15)— (12)(61)— — 
   Foreign currency revaluation and other— 29 — 42 (1)— 
Benefit obligation, end of year$3,967 $1,199 $3,569 $1,042 $86 $103 
Plan assets at fair value, beginning of year$3,301 $1,141 $2,784 $1,008 $152 $143 
   Actual return on plan assets563 126 636 169 6 9 
   Employer contributions17 19 14 16 1 — 
   Benefits paid(127)(31)(121)(39)(39)— 
   Settlements(15)— (12)(61)— — 
   Foreign currency revaluation and other— 29 — 48 — — 
Plan assets at fair value, end of year$3,739 $1,284 $3,301 $1,141 $120 $152 
Funded status at end of year$(228)$85 $(268)$99 $34 $49 
Amounts recognized in Accumulated other comprehensive
income, not yet recognized in net periodic cost (benefit):
Net actuarial loss (gain)$78 $163 $(21)$110 $(5)$(3)
Prior service cost (benefit)— 9 — 10 (31)(114)
Total$78 $172 $(21)$120 $(36)$(117)
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess 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, 2020 and 2019:
20202019
U.S. PlansNon-U.S. PlansU.S. PlansNon-U.S. Plans
(in millions of U.S. dollars)
Plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation$3,967 $629 $3,569 $236 
Fair value of plan assets3,739 568 3,301 175 
Net funded status$(228)$(61)$(268)$(61)
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation$3,967 $593 $3,569 $173 
Fair value of plan assets$3,739 $565 $3,301 $140 
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess 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, 2020 and 2019:
20202019
U.S. PlansNon-U.S. PlansU.S. PlansNon-U.S. Plans
(in millions of U.S. dollars)
Plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation$3,967 $629 $3,569 $236 
Fair value of plan assets3,739 568 3,301 175 
Net funded status$(228)$(61)$(268)$(61)
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation$3,967 $593 $3,569 $173 
Fair value of plan assets$3,739 $565 $3,301 $140 
Defined Benefit Plan, Assumptions [Table Text Block]
The weighted-average assumptions used to determine the projected benefit obligation were as follows:
Pension Benefit Plans
U.S.
Plans		Non-U.S.
Plans		Other Postretirement Benefit Plans
December 31, 2020
Discount rate2.32 %1.80 %1.36 %
Rate of compensation increase (1)
N/A3.24 %N/A
Interest crediting rate4.10 %
December 31, 2019
Discount rate3.20 %2.39 %2.70 %
Rate of compensation increase (1)
N/A3.26 %N/A
Interest crediting rate4.10 %
Schedule of Net Benefit Costs [Table Text Block]
The components of net pension and other postretirement benefit costs reflected in Net income and other changes in plan assets and benefit obligations recognized in other comprehensive income were as follows:
Pension Benefit PlansOther Postretirement
Benefit Plans
U.S. PlansNon-U.S. Plans
Year Ended December 31202020192018202020192018202020192018
(in millions of U.S. dollars)
Costs reflected in Net income:
Service cost$— $49 $57 $4 $11 $12 $1 $— $1 
Non-service cost:
Interest cost99 118 105 22 27 27 2 4 3 
Expected return on plan assets(224)(189)(212)(41)(45)(50)(5)(4)(5)
Amortization of net actuarial loss— — — 2 3 1 — — — 
Amortization of prior service cost— — — — — — (83)(84)(85)
Curtailments— — — (1)(1)— — — (2)
Settlements3 2 2 — 1 3 — — — 
Total non-service benefit(122)(69)(105)(18)(15)(19)(86)(84)(89)
Net periodic benefit$(122)$(20)$(48)$(14)$(4)$(7)$(85)$(84)$(88)
Changes in plan assets and benefit obligations recognized in other comprehensive income
Net actuarial loss (gain)$102 $(4)$214 $56 $6 $34 $(2)$(2)$(11)
Prior service cost (benefit)— — — — 1 3 — — — 
Amortization of net actuarial loss— — — (2)(3)(1)— — (1)
Amortization of prior service cost— — — (1)— — 83 84 85 
Curtailments— — — (1)(3)— — — 3 
Settlements(3)(2)(2)— (1)(3)— — — 
Total decrease (increase) in other comprehensive income$99 $(6)$212 $52 $— $33 $81 $82 $76 

The line items in which the service and non-service cost components of net periodic (benefit) cost are included in the Consolidated statements of operations were as follows:
Pension Benefit PlansOther Postretirement Benefit Plans
Year Ended December 31202020192018202020192018
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses$— $6 $7 $— $— $— 
Administrative expenses4 54 62 1 — 1 
Total service cost4 60 69 1 — 1 
Non-service cost:
Losses and loss expenses(12)(7)(10)(9)(8)(9)
Administrative expenses(128)(77)(114)(77)(76)(80)
Total non-service benefit(140)(84)(124)(86)(84)(89)
Net periodic benefit$(136)$(24)$(55)$(85)$(84)$(88)
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. PlansNon-U.S. PlansOther Postretirement Benefit Plans
Year Ended December 31
2020
Discount rate in effect for determining service costN/A6.04 %3.00 %
Discount rate in effect for determining interest cost2.85 %2.24 %2.64 %
Rate of compensation increaseN/A3.26 %N/A
Expected long-term rate of return on plan assets7.00 %3.83 %3.00 %
Interest crediting rate4.10 %N/AN/A
2019
Discount rate in effect for determining service cost4.23 %4.48 %4.04 %
Discount rate in effect for determining interest cost3.94 %2.88 %3.69 %
Rate of compensation increase4.00 %3.37 %N/A
Expected long-term rate of return on plan assets7.00 %4.40 %3.00 %
Interest crediting rate4.10 %N/AN/A
2018
Discount rate in effect for determining service cost3.62 %3.97 %2.84 %
Discount rate in effect for determining interest cost3.27 %2.55 %2.62 %
Rate of compensation increase4.00 %3.46 %N/A
Expected long-term rate of return on plan assets7.00 %4.32 %2.59 %
Interest crediting rate4.10 %N/AN/A
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. PlansNon-U.S. Plans
202020192018202020192018
Healthcare cost trend rate5.96 %6.32 %6.68 %5.04 %5.24 %6.29 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)4.50 %4.50 %4.50 %4.00 %4.00 %4.50 %
Year that the rate reaches the ultimate trend rate203820382038204020402029
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 4 to the Consolidated Financial Statements.
December 31, 2020Pension Benefit Plans
(in millions of U.S. dollars)Level 1Level 2Level 3Total
U.S. Plans:
Short-term investments$59 $— $— $59 
U.S. Treasury / Agency250 186 — 436 
Non-U.S. and corporate bonds— 793 — 793 
Municipal— 2 — 2 
Equity securities1,818 — — 1,818 
Total U.S. Plan assets (1)
$2,127 $981 $— $3,108 
Non-U.S. Plans:
Short-term investments$5 $— $— $5 
Non-U.S. and corporate bonds— 609 — 609 
Equity securities127 388 — 515 
Total Non-U.S. Plan assets (1)
$132 $997 $— $1,129 
(1)Excluded from the table above are $543 million and $147 million of other investments related to the U.S. Plans and Non-U.S. Plans, respectively, limited partnerships of $74 million and $8 million in U.S. Plans and Non-U.S. Plans, respectively, measured using NAV as a practical expedient, and $14 million in cash related to the U.S. Plans.
December 31, 2019Pension Benefit Plans
(in millions of U.S. dollars)Level 1Level 2Level 3Total
U.S. Plans:
Short-term investments$18 $37 $— $55 
U.S. Treasury / Agency466 134 — 600 
Non-U.S. and corporate bonds— 749 — 749 
Municipal— 2 — 2 
Equity securities1,467 — — 1,467 
Total U.S. Plan assets (1)
$1,951 $922 $— $2,873 
Non-U.S. Plans:
Short-term investments$2 $— $— $2 
Non-U.S. and corporate bonds— 598 — 598 
Equity securities112 318 — 430 
Total Non-U.S. Plan assets (1)
$114 $916 $— $1,030 
(1)Excluded from the table above are $428 million and $107 million of other investments related to the U.S. Plans and Non-U.S. Plans, re
Schedule of expected future benefit payments
At December 31, 2020, our estimated expected future benefit payments are as follows:
Pension Benefit PlansOther Postretirement Benefit Plans
For the years ending December 31U.S.
Plans		Non-U.S. Plans
(in millions of U.S. dollars)
2021$159 $30 $19 
2022166 28 20 
2023171 30 16 
2024175 32 12 
2025180 32 7 
2026-2030947 185 5