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Benefit Plans | 12 Months Ended
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Dec. 31, 2017
Retirement Benefits [Abstract] |
Benefit Plans | Benefit Plans Subsidiaries of Altria Group, Inc. sponsor noncontributory defined benefit pension plans covering the majority of all employees of Altria Group, Inc. and its subsidiaries. However, employees hired on or after a date specific to their employee group are not eligible to participate in these noncontributory defined benefit pension plans but are instead eligible to participate in a defined contribution plan with enhanced benefits. This transition for new hires occurred from October 1, 2006 to January 1, 2008. In addition, effective January 1, 2010, certain employees of UST’s subsidiaries and Middleton who were participants in noncontributory defined benefit pension plans ceased to earn additional benefit service under those plans and became eligible to participate in a defined contribution plan with enhanced benefits. Altria Group, Inc. and its subsidiaries also provide postretirement health care and other benefits to the majority of retired employees. The plan assets and benefit obligations of Altria Group, Inc.’s pension plans and postretirement plans are measured at December 31 of each year. In December 2017, Altria Group, Inc. made a contribution of $270 million to a trust to fund certain postretirement benefits. Prior to this contribution, Altria Group, Inc.’s postretirement plans were not funded. The discount rates for Altria Group, Inc.’s plans were based on a yield curve developed from a model portfolio of high-quality corporate bonds with durations that match the expected future cash flows of the pension and postretirement benefit obligations.
▪ | Obligations and Funded Status: The benefit obligations, plan assets and funded status of Altria Group, Inc.’s pension and postretirement plans at December 31, 2017 and 2016 were as follows:
| Pension |  | Postretirement
(in millions) | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Change in benefit obligation: |  |  |  |  |  |  |
Benefit obligation at beginning of year | $ | 8,312 |  |  | $ | 8,011 |  |  | $ | 2,364 |  |  | $ | 2,392 |
Service cost | 75 |  |  | 76 |  |  | 16 |  |  | 17 |
Interest cost | 288 |  |  | 281 |  |  | 76 |  |  | 77 |
Benefits paid | (703 | ) |  | (440 | ) |  | (139 | ) |  | (135 | )
Actuarial losses | 589 |  |  | 367 |  |  | 56 |  |  | 24 |
Termination, settlement and curtailment | (51 | ) |  | 13 |  |  | — |  |  | 5 |
Other | — |  |  | 4 |  |  | (38 | ) |  | (16 | )
Benefit obligation at end of year | 8,510 |  |  | 8,312 |  |  | 2,335 |  |  | 2,364 |
Change in plan assets: |  |  |  |  |  |  |
Fair value of plan assets at beginning of year | 7,475 |  |  | 6,706 |  |  | — |  |  | — |
Actual return on plan assets | 1,219 |  |  | 678 |  |  | — |  |  | — |
Employer contributions | 24 |  |  | 531 |  |  | 270 |  |  | — |
Benefits paid | (703 | ) |  | (440 | ) |  | — |  |  | — |
Fair value of plan assets at end of year | 8,015 |  |  | 7,475 |  |  | 270 |  |  | — |
Funded status at December 31 | $ | (495 | ) |  | $ | (837 | ) |  | $ | (2,065 | ) |  | $ | (2,364 | )
Amounts recognized on Altria Group, Inc.’s consolidated balance sheets were as follows: |  |  |  |  |  |  |
Other accrued liabilities | $ | (51 | ) |  | $ | (32 | ) |  | $ | (78 | ) |  | $ | (147 | )
Accrued pension costs | (445 | ) |  | (805 | ) |  | — |  |  | — |
Other assets | 1 |  |  | — |  |  | — |  |  | — |
Accrued postretirement health care costs | — |  |  | — |  |  | (1,987 | ) |  | (2,217 | )
| $ | (495 | ) |  | $ | (837 | ) |  | $ | (2,065 | ) |  | $ | (2,364 | )
The table above presents the projected benefit obligation for Altria Group, Inc.’s pension plans. The accumulated benefit obligation, which represents benefits earned to date, for the pension plans was $8.2 billion and $8.0 billion at December 31, 2017 and 2016, respectively. For plans with accumulated benefit obligations in excess of plan assets at December 31, 2017, the projected benefit obligation, accumulated benefit obligation and fair value of plan assets were $413 million, $364 million and $124 million, respectively. At December 31, 2016, the accumulated benefit obligations were in excess of plan assets for all pension plans. The Patient Protection and Affordable Care Act (“PPACA”), as amended by the Health Care and Education Reconciliation Act of 2010, mandates health care reforms with staggered effective dates from 2010 to 2022, including the imposition of an excise tax on high cost health care plans effective in 2022. The additional accumulated postretirement liability resulting from the PPACA, which is not material to Altria Group, Inc., has been included in Altria Group, Inc.’s accumulated postretirement benefit obligation at December 31, 2017 and 2016. Given the complexity of the PPACA and the extended time period during which implementation is expected to occur, future adjustments to Altria Group, Inc.’s accumulated postretirement benefit obligation may be necessary. The following assumptions were used to determine Altria Group, Inc.’s pension benefit obligations at December 31:
| 2017 |  |  | 2016 |
Discount rate | 3.7 | % |  | 4.1 | %
Rate of compensation increase | 4.0 |  |  | 4.0 |
The following assumptions were used to determine Altria Group, Inc.’s postretirement benefit obligations at December 31:
| 2017 |  |  | 2016 |
Discount rate | 3.7 | % |  | 4.1 | %
Health care cost trend rate assumed for next year | 7.0 |  |  | 7.0 |
Ultimate trend rate | 5.0 |  |  | 5.0 |
Year that the rate reaches the ultimate trend rate | 2022 |  |  | 2022 |
▪ | Components of Net Periodic Benefit Cost: Net periodic benefit cost consisted of the following for the years ended December 31, 2017, 2016 and 2015:
| Pension |  | Postretirement
(in millions) | 2017 |  |  | 2016 |  |  | 2015 |  |  | 2017 |  |  | 2016 |  |  | 2015 |
Service cost | $ | 75 |  |  | $ | 76 |  |  | $ | 86 |  |  | $ | 16 |  |  | $ | 17 |  |  | $ | 18 |
Interest cost | 288 |  |  | 281 |  |  | 337 |  |  | 76 |  |  | 77 |  |  | 100 |
Expected return on plan assets | (601 | ) |  | (553 | ) |  | (539 | ) |  | — |  |  | — |  |  | — |
Amortization: |  |  |  |  |  |  |  |  |  |  |
Net loss | 197 |  |  | 171 |  |  | 234 |  |  | 25 |  |  | 25 |  |  | 43 |
Prior service cost (credit) | 4 |  |  | 5 |  |  | 7 |  |  | (38 | ) |  | (39 | ) |  | (39 | )
Termination, settlement and curtailment | 86 |  |  | 34 |  |  | 8 |  |  | — |  |  | (2 | ) |  | — |
Net periodic benefit cost | $ | 49 |  |  | $ | 14 |  |  | $ | 133 |  |  | $ | 79 |  |  | $ | 78 |  |  | $ | 122 |
Termination, settlement and curtailment shown in the table above primarily relate to the settlement charge discussed below, and the productivity initiative and facilities consolidation discussed in Note 4. Asset Impairment, Exit and Implementation Costs. In the third quarter of 2017, Altria Group, Inc. made a voluntary, limited-time offer to former employees with vested benefits in the Altria Retirement Plan who had not commenced receiving benefit payments and who met certain other conditions. Eligible participants were offered the opportunity to make a one-time election to receive their pension benefit as a single lump sum payment or as a monthly annuity. Distributions to former employees who elected to receive lump sum payments totaled approximately $277 million, substantially all of which were made in December 2017 from the Altria Retirement Plan’s assets. Payments began on January 1, 2018 to former employees who elected a monthly annuity. As a result of the lump sum distributions, Altria Group, Inc. recorded a one-time settlement charge of $81 million in 2017. The amounts included in termination, settlement and curtailment in the table above were comprised of the following changes:
| Pension |  | Post- retirement |
(in millions) | 2017 |  | 2016 |  | 2015 |  |  | 2016 |
Benefit obligation | $ | — |  | $ | 23 |  | $ | — |  |  | $ | 11 |
Other comprehensive earnings/losses: |  |  |  |  |
Net loss | 86 |  | 9 |  | 8 |  |  | — |
Prior service cost (credit) | — |  | 2 |  | — |  |  | (13 | )
| $ | 86 |  | $ | 34 |  | $ | 8 |  |  | $ | (2 | )
Beginning in 2016, Altria Group, Inc. began using a spot rate approach to estimate the service and interest cost components of net periodic benefit costs by applying the specific spot rates along the yield curve to the relevant projected cash flows, as Altria Group, Inc. believes that this approach is a more precise estimate of service and interest cost. This change resulted in a decrease of approximately $70 million and $20 million to its 2016 pre-tax pension and postretirement net periodic benefit cost, respectively. Prior to 2016, Altria Group, Inc. estimated the service and interest cost components of net periodic benefit cost using a single weighted-average discount rate derived from the yield curve used to measure the pension and postretirement plans benefit obligations. The estimated net loss and prior service cost (credit) that are expected to be amortized from accumulated other comprehensive losses into net periodic benefit cost during 2018 is as follows:
(in millions) | Pension |  |  | Postretirement |
Net loss | $ | 228 |  |  | $ | 35 |
Prior service cost (credit) | 4 |  |  | (42 | )
The following assumptions were used to determine Altria Group, Inc.’s net periodic benefit cost for the years ended December 31:
| Pension |  | Postretirement
| 2017 |  |  | 2016 |  |  | 2015 |  |  | 2017 |  |  | 2016 |  |  | 2015 |
Discount rates: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost | 4.3 | % |  | 4.7 | % |  | 4.1 | % |  | 4.3 | % |  | 4.5 | % |  | 4.0 | %
Interest cost | 3.5 |  |  | 3.6 |  |  | 4.1 |  |  | 3.5 |  |  | 3.4 |  |  | 4.0 |
Expected rate of return on plan assets | 8.0 |  |  | 8.0 |  |  | 8.0 |  |  | — |  |  | — |  |  | — |
Rate of compensation increase | 4.0 |  |  | 4.0 |  |  | 4.0 |  |  | — |  |  | — |  |  | — |
Health care cost trend rate | — |  |  | — |  |  | — |  |  | 7.0 |  |  | 6.5 |  |  | 7.0 |
Assumed health care cost trend rates have a significant effect on the amounts reported for the postretirement health care plans. A one-percentage-point change in assumed health care cost trend rates would have had the following effects as of December 31, 2017:
| One-Percentage-Point Increase |  |  | One-Percentage-Point Decrease |
Effect on total of postretirement service and interest cost | 7.8 | % |  | (6.9 | )%
Effect on postretirement benefit obligation | 6.6 | % |  | (5.5 | )%
▪Defined Contribution Plans: Altria Group, Inc. sponsors deferred profit-sharing plans covering certain salaried, non-union and union employees. Contributions and costs are determined generally as a percentage of earnings, as defined by the plans. Amounts charged to expense for these defined contribution plans totaled $83 million, $93 million and $85 million in 2017, 2016 and 2015, respectively. ▪Pension Plan Assets: Altria Group, Inc.’s investment strategy for its pension plan assets is based on an expectation that equity securities will outperform debt securities over the long term. Altria Group, Inc. believes that it implements the investment strategy in a prudent and risk-controlled manner, consistent with the fiduciary requirements of the Employee Retirement Income Security Act of 1974, by investing retirement plan assets in a well-diversified mix of equities, fixed income and other securities that reflects the impact of the demographic mix of plan participants on the benefit obligation using a target asset allocation between equity securities and fixed income investments of 55%/45%. The composition of Altria Group, Inc.’s plan assets at December 31, 2017 was broadly characterized as an allocation between equity securities (59%), corporate bonds (30%) and U.S. Treasury and foreign government securities (11%). Virtually all pension assets can be used to make monthly benefit payments. Altria Group, Inc.’s investment objective for its pension plan assets is accomplished by investing in U.S. and international equity index strategies that are intended to mirror indices such as the Standard & Poor’s 500 Index, Russell Small Cap Completeness Index, Research Affiliates Fundamental Index (“RAFI”) Low Volatility U.S. Index, and Morgan Stanley Capital International (“MSCI”) Europe, Australasia, and the Far East (“EAFE”) Index. Altria Group, Inc.’s pension plans also invest in actively managed international equity securities of large, mid and small cap companies located in developed and emerging markets, as well as long duration fixed income securities that primarily include corporate bonds of companies from diversified industries. The allocation to below investment grade securities represented 16% of the fixed income holdings or 7% of total plan assets at December 31, 2017. The allocation to emerging markets represented 4% of the equity holdings or 3% of total plan assets at December 31, 2017. Altria Group, Inc.’s risk management practices for its pension plans include ongoing monitoring of asset allocation, investment performance and investment managers’ compliance with their investment guidelines, periodic rebalancing between equity and debt asset classes and annual actuarial re-measurement of plan liabilities. Altria Group, Inc.’s expected rate of return on pension plan assets is determined by the plan assets’ historical long-term investment performance, current asset allocation and estimates of future long-term returns by asset class. The forward-looking estimates are consistent with the overall long-term averages exhibited by returns on equity and fixed income securities. Altria Group, Inc. has reduced this assumption from 8.0% to 7.8% for determining its pension net periodic benefit cost for 2018. The fair values of Altria Group, Inc.’s pension plan assets by asset category at December 31, 2017 and 2016 were as follows:
| 2017 |  | 2016
(in millions) | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
U.S. and foreign government securities or their agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government and agencies | $ | — |  |  | $ | 588 |  |  | $ | — |  |  | $ | 588 |  |  | $ | — |  |  | $ | 444 |  |  | $ | — |  |  | $ | 444 |
U.S. municipal bonds | — |  |  | 81 |  |  | — |  |  | 81 |  |  | — |  |  | 102 |  |  | — |  |  | 102 |
Foreign government and agencies | — |  |  | 150 |  |  | — |  |  | 150 |  |  | — |  |  | 185 |  |  | — |  |  | 185 |
Corporate debt instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Above investment grade | — |  |  | 1,789 |  |  | — |  |  | 1,789 |  |  | — |  |  | 1,735 |  |  | — |  |  | 1,735 |
Below investment grade and no rating | — |  |  | 511 |  |  | — |  |  | 511 |  |  | — |  |  | 602 |  |  | — |  |  | 602 |
Common stock: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
International equities | 1,396 |  |  | — |  |  | — |  |  | 1,396 |  |  | 1,076 |  |  | — |  |  | — |  |  | 1,076 |
U.S. equities | 831 |  |  | — |  |  | — |  |  | 831 |  |  | 760 |  |  | — |  |  | — |  |  | 760 |
Other, net | 120 |  |  | 74 |  |  | — |  |  | 194 |  |  | 142 |  |  | 33 |  |  | 13 |  |  | 188 |
| $ | 2,347 |  |  | $ | 3,193 |  |  | $ | — |  |  | $ | 5,540 |  |  | $ | 1,978 |  |  | $ | 3,101 |  |  | $ | 13 |  |  | $ | 5,092 |
Investments measured at NAV as a practical expedient for fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common/collective trusts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. large cap |  |  |  |  |  |  | 2,014 |  |  |  |  |  |  |  |  | 1,940 |
U.S. small cap |  |  |  |  |  |  | 361 |  |  |  |  |  |  |  |  | 363 |
International developed markets |  |  |  |  |  |  | 100 |  |  |  |  |  |  |  |  | 80 |
Fair value of plan assets, net |  |  |  |  |  |  | $ | 8,015 |  |  |  |  |  |  |  |  | $ | 7,475 |
Level 3 holdings and transactions were immaterial to total plan assets at December 31, 2017 and 2016. For a description of the fair value hierarchy and the three levels of inputs used to measure fair value, see Note 2. Summary of Significant Accounting Policies. Following is a description of the valuation methodologies used for investments measured at fair value.
▪ | U.S. and Foreign Government Securities: U.S. and foreign government securities consist of investments in Treasury Nominal Bonds and Inflation Protected Securities and municipal securities. Government securities are valued at a price that is based on a compilation of primarily observable market information, such as broker quotes. Matrix pricing, yield curves and indices are used when broker quotes are not available.
▪ | Corporate Debt Instruments: Corporate debt instruments are valued at a price that is based on a compilation of primarily observable market information, such as broker quotes. Matrix pricing, yield curves and indices are used when broker quotes are not available.
▪ | Common Stock: Common stocks are valued based on the price of the security as listed on an open active exchange on last trade date.
▪ | Common/Collective Trusts: Common/collective trusts consist of funds that are intended to mirror indices such as Standard & Poor’s 500 Index, Russell Small Cap Completeness Index and MSCI EAFE Index. They are valued on the basis of the relative interest of each participating investor in the fair value of the underlying assets of each of the respective common/collective trusts. The underlying assets are valued based on the net asset value (“NAV”), which is provided by the investment account manager as a practical expedient to estimate fair value. These investments are not classified by level but are disclosed to permit reconciliation to the fair value of plan assets.
▪Postretirement Plan Assets: Altria Group, Inc. has established a long-term investment strategy for its postretirement plan assets using a target asset allocation between equity securities and fixed income investments of 55%/45%. The expected rate of return on plan assets is 7.8% for determining Altria Group, Inc.’s postretirement net periodic benefit cost for 2018. At December 31, 2017, postretirement plan assets totaled $270 million. Approximately $150 million was invested in domestic and international common/collective trusts. The underlying assets of each of the respective common/collective trusts are valued based on the NAV, which is provided by the investment account manager as a practical expedient to estimate fair value. Additionally, approximately $120 million was held in an interest bearing cash account, which is classified in Level 1 of the fair value hierarchy, pending full implementation of the investment strategy in early January 2018. ▪Cash Flows: Altria Group, Inc. makes contributions to the pension plans to the extent that the contributions are tax deductible and pays benefits that relate to plans for salaried employees that cannot be funded under IRS regulations. Currently, Altria Group, Inc. anticipates making employer contributions to its pension plans of up to approximately $60 million in 2018 based on current tax law. However, this estimate is subject to change as a result of changes in tax and other benefit laws, as well as asset performance significantly above or below the assumed long-term rate of return on pension plan assets, or changes in interest rates. In December 2017, Altria Group, Inc. made a contribution of $270 million to its postretirement plans. Currently, Altria Group, Inc. anticipates making employer contributions to its postretirement plans of up to approximately $70 million in 2018. However, this estimate is subject to change as a result of changes in tax and other benefit laws, as well as asset performance significantly above or below the assumed long-term rate of return on postretirement plan assets. Estimated future benefit payments at December 31, 2017 were as follows:
(in millions) | Pension |  |  | Postretirement |
2018 | $ | 480 |  |  | $ | 142 |
2019 | 451 |  |  | 140 |
2020 | 456 |  |  | 138 |
2021 | 459 |  |  | 136 |
2022 | 463 |  |  | 133 |
2023-2027 | 2,372 |  |  | 620 |
Comprehensive Earnings/Losses The amounts recorded in accumulated other comprehensive losses at December 31, 2017 consisted of the following:
(in millions) | Pension |  |  | Post- retirement |  |  | Post- employment |  |  | Total |
Net loss | $ | (2,493 | ) |  | $ | (612 | ) |  | $ | (93 | ) |  | $ | (3,198 | )
Prior service (cost) credit | (15 | ) |  | 195 |  |  | — |  |  | 180 |
Deferred income taxes | 979 |  |  | 166 |  |  | 34 |  |  | 1,179 |
Amounts recorded in accumulated other comprehensive losses | $ | (1,529 | ) |  | $ | (251 | ) |  | $ | (59 | ) |  | $ | (1,839 | )
The amounts recorded in accumulated other comprehensive losses at December 31, 2016 consisted of the following:
(in millions) | Pension |  |  | Post- retirement |  |  | Post- employment |  |  | Total |
Net loss | $ | (2,857 | ) |  | $ | (581 | ) |  | $ | (99 | ) |  | $ | (3,537 | )
Prior service (cost) credit | (19 | ) |  | 195 |  |  | — |  |  | 176 |
Deferred income taxes | 1,124 |  |  | 153 |  |  | 36 |  |  | 1,313 |
Amounts recorded in accumulated other comprehensive losses | $ | (1,752 | ) |  | $ | (233 | ) |  | $ | (63 | ) |  | $ | (2,048 | )
The movements in other comprehensive earnings/losses during the year ended December 31, 2017 were as follows:
(in millions) | Pension |  |  | Post- retirement |  |  | Post- employment |  |  | Total |
Amounts reclassified to net earnings as components of net periodic benefit cost: |  |  |  |  |  |  |
Amortization: |  |  |  |  |  |  |
Net loss | $ | 197 |  |  | $ | 25 |  |  | $ | 17 |  |  | $ | 239 |
Prior service cost/credit | 4 |  |  | (38 | ) |  | — |  |  | (34 | )
Other expense: |  |  |  |  |  |  |
Net loss | 86 |  |  | — |  |  | — |  |  | 86 |
Deferred income taxes | (113 | ) |  | 6 |  |  | (6 | ) |  | (113 | )
| 174 |  |  | (7 | ) |  | 11 |  |  | 178 |
Other movements during the year: |  |  |  |  |  |  |
Net loss | 81 |  |  | (56 | ) |  | (11 | ) |  | 14 |
Prior service cost/credit | — |  |  | 38 |  |  | — |  |  | 38 |
Deferred income taxes | (32 | ) |  | 7 |  |  | 4 |  |  | (21 | )
| 49 |  |  | (11 | ) |  | (7 | ) |  | 31 |
Total movements in other comprehensive earnings/losses | $ | 223 |  |  | $ | (18 | ) |  | $ | 4 |  |  | $ | 209 |
The movements in other comprehensive earnings/losses during the year ended December 31, 2016 were as follows:
(in millions) | Pension |  |  | Post- retirement |  |  | Post- employment |  |  | Total |
Amounts reclassified to net earnings as components of net periodic benefit cost: |  |  |  |  |  |  |
Amortization: |  |  |  |  |  |  |
Net loss | $ | 171 |  |  | $ | 25 |  |  | $ | 18 |  |  | $ | 214 |
Prior service cost/credit | 5 |  |  | (39 | ) |  | — |  |  | (34 | )
Other expense (income): |  |  |  |  |  |  |
Net loss | 9 |  |  | — |  |  | — |  |  | 9 |
Prior service cost/credit | 2 |  |  | (13 | ) |  | — |  |  | (11 | )
Deferred income taxes | (69 | ) |  | 11 |  |  | (7 | ) |  | (65 | )
| 118 |  |  | (16 | ) |  | 11 |  |  | 113 |
Other movements during the year: |  |  |  |  |  |  |
Net loss | (232 | ) |  | (18 | ) |  | (9 | ) |  | (259 | )
Prior service cost/credit | (4 | ) |  | 16 |  |  | — |  |  | 12 |
Deferred income taxes | 92 |  |  | 1 |  |  | 3 |  |  | 96 |
| (144 | ) |  | (1 | ) |  | (6 | ) |  | (151 | )
Total movements in other comprehensive earnings/losses | $ | (26 | ) |  | $ | (17 | ) |  | $ | 5 |  |  | $ | (38 | )
The movements in other comprehensive earnings/losses during the year ended December 31, 2015 were as follows:
(in millions) | Pension |  |  | Post- retirement |  |  | Post- employment |  |  | Total |
Amounts reclassified to net earnings as components of net periodic benefit cost: |  |  |  |  |  |  |
Amortization: |  |  |  |  |  |  |
Net loss | $ | 234 |  |  | $ | 43 |  |  | $ | 19 |  |  | $ | 296 |
Prior service cost/credit | 7 |  |  | (39 | ) |  | — |  |  | (32 | )
Other expense: |  |  |  |  |  |  |
Net loss | 8 |  |  | — |  |  | — |  |  | 8 |
Deferred income taxes | (96 | ) |  | (2 | ) |  | (7 | ) |  | (105 | )
| 153 |  |  | 2 |  |  | 12 |  |  | 167 |
Other movements during the year: |  |  |  |  |  |  |
Net loss | (410 | ) |  | 192 |  |  | (5 | ) |  | (223 | )
Prior service cost/credit | (6 | ) |  | 6 |  |  | — |  |  | — |
Deferred income taxes | 160 |  |  | (75 | ) |  | 1 |  |  | 86 |
| (256 | ) |  | 123 |  |  | (4 | ) |  | (137 | )
Total movements in other comprehensive earnings/losses | $ | (103 | ) |  | $ | 125 |  |  | $ | 8 |  |  | $ | 30 |

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- Definition The entire disclosure of an entity's employee compensation and benefit plans, excluding share-based compensation and including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 712 -URI http://asc.fasb.org/topic&trid=2197446 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -URI http://asc.fasb.org/topic&trid=2127225 + Details
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