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Employee Benefits (Tables) | 12 Months Ended
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Dec. 31, 2018
Retirement Benefits [Abstract] |
Expense recognized for defined contribution savings plans, included in compensation and benefits and discontinued operations in the consolidated statements of income | The expense for the significant plans in the U.S., U.K., Netherlands and Canada is as follows (in millions):
Years ended December 31 | 2018 |  | 2017 |  | 2016
U.S. | $ | 98 |  |  | $ | 105 |  |  | $ | 121 |
U.K. | 45 |  |  | 43 |  |  | 43 |
Netherlands and Canada | 25 |  |  | 25 |  |  | 27 |
Total | $ | 168 |  |  | $ | 173 |  |  | $ | 191 |
Reconciliation of the changes in the benefit obligations and fair value of assets and a statement of the funded status | The following table provides an overview of the accumulated projected benefit obligation, fair value of plan assets, funded status and net amount recognized as of December 31, 2018 and 2017 for the Company’s other significant postretirement benefit plans located in the U.S. and Canada (in millions):
| 2018 |  | 2017
Accumulated projected benefit obligation | $ | 91 |  |  | $ | 99 |
Fair value of plan assets | 14 |  |  | 17 |
Funded status | (77 | ) |  | (82 | )
Unrecognized prior-service credit | (1 | ) |  | (1 | )
Unrecognized (gain) loss | (6 | ) |  | (3 | )
Net amount recognized | $ | (84 | ) |  | $ | (86 | )
The following tables provide a reconciliation of the changes in the projected benefit obligations and fair value of assets for the years ended December 31, 2018 and 2017 and a statement of the funded status as of December 31, 2018 and 2017, for the material U.K., U.S., and other major plans, which are located in the Netherlands, and Canada. These plans represent approximately 90% of the Company’s projected benefit obligations.
| U.K. |  | U.S. |  | Other
(millions) | 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017
Change in projected benefit obligation |  |  |  |  |  |  |  |  |  |  |
At January 1 | $ | 4,893 |  |  | $ | 4,874 |  |  | $ | 3,155 |  |  | $ | 2,902 |  |  | $ | 1,401 |  |  | $ | 1,227 |
Service cost | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Interest cost | 109 |  |  | 123 |  |  | 99 |  |  | 96 |  |  | 27 |  |  | 26 |
Plan amendment | 13 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Settlements | (176 | ) |  | (496 | ) |  | — |  |  | — |  |  | — |  |  | — |
Actuarial loss (gain) | (297 | ) |  | 100 |  |  | (221 | ) |  | 309 |  |  | (47 | ) |  | 49 |
Benefit payments | (160 | ) |  | (146 | ) |  | (156 | ) |  | (152 | ) |  | (43 | ) |  | (39 | )
Foreign currency impact | (253 | ) |  | 438 |  |  | — |  |  | — |  |  | (67 | ) |  | 138 |
At December 31 | $ | 4,129 |  |  | $ | 4,893 |  |  | $ | 2,877 |  |  | $ | 3,155 |  |  | $ | 1,271 |  |  | $ | 1,401 |
Accumulated benefit obligation at end of year | $ | 4,129 |  |  | $ | 4,893 |  |  | $ | 2,877 |  |  | $ | 3,155 |  |  | $ | 1,247 |  |  | $ | 1,373 |
Change in fair value of plan assets |  |  |  |  |  |  |  |  |  |  |
At January 1 | $ | 5,906 |  |  | $ | 5,675 |  |  | $ | 1,958 |  |  | $ | 1,683 |  |  | $ | 1,256 |  |  | $ | 1,076 |
Actual return on plan assets | (125 | ) |  | 274 |  |  | (141 | ) |  | 308 |  |  | (19 | ) |  | 70 |
Employer contributions | 97 |  |  | 86 |  |  | 135 |  |  | 119 |  |  | 20 |  |  | 21 |
Settlements | (176 | ) |  | (496 | ) |  | — |  |  | — |  |  | — |  |  | — |
Benefit payments | (160 | ) |  | (146 | ) |  | (156 | ) |  | (152 | ) |  | (43 | ) |  | (39 | )
Foreign currency impact | (317 | ) |  | 513 |  |  | — |  |  | — |  |  | (59 | ) |  | 128 |
At December 31 | $ | 5,225 |  |  | $ | 5,906 |  |  | $ | 1,796 |  |  | $ | 1,958 |  |  | $ | 1,155 |  |  | $ | 1,256 |
Market related value at end of year | $ | 5,225 |  |  | $ | 5,906 |  |  | $ | 1,981 |  |  | $ | 1,926 |  |  | $ | 1,155 |  |  | $ | 1,256 |
Amount recognized in Statement of Financial Position at December 31 |  |  |  |  |  |  |  |  |  |  |
Funded status | $ | 1,096 |  |  | $ | 1,013 |  |  | $ | (1,081 | ) |  | $ | (1,197 | ) |  | $ | (116 | ) |  | $ | (145 | )
Unrecognized prior-service cost | 30 |  |  | 19 |  |  | 3 |  |  | 5 |  |  | (7 | ) |  | (7 | )
Unrecognized loss | 1,106 |  |  | 1,217 |  |  | 1,705 |  |  | 1,701 |  |  | 440 |  |  | 459 |
Net amount recognized | $ | 2,232 |  |  | $ | 2,249 |  |  | $ | 627 |  |  | $ | 509 |  |  | $ | 317 |  |  | $ | 307 |
Amounts recognized in the Consolidated Statements of Financial Position | Amounts recognized in the Consolidated Statements of Financial Position consist of (in millions):
| U.K. |  | U.S. |  | Other
| 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017
Prepaid benefit cost (1) | $ | 1,113 |  |  | $ | 1,034 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Accrued benefit liability - current(2) | (1 | ) |  | (1 | ) |  | (46 | ) |  | (43 | ) |  | (5 | ) |  | (5 | )
Accrued benefit liability - non-current(3) | (16 | ) |  | (20 | ) |  | (1,035 | ) |  | (1,154 | ) |  | (111 | ) |  | (140 | )
Accumulated other comprehensive loss | 1,136 |  |  | 1,236 |  |  | 1,708 |  |  | 1,706 |  |  | 433 |  |  | 452 |
Net amount recognized | $ | 2,232 |  |  | $ | 2,249 |  |  | $ | 627 |  |  | $ | 509 |  |  | $ | 317 |  |  | $ | 307 |
(1) | Included in Prepaid pension
(2) | Included in Other current liabilities
(3) | Included in Pension, other postretirement, and postemployment liabilities
Amounts recognized in Accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost | Amounts recognized in Accumulated other comprehensive loss (income) that have not yet been recognized as components of net periodic benefit cost at December 31, 2018 and 2017 consist of (in millions):
| U.K. |  | U.S. |  | Other
| 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017
Net loss | $ | 1,106 |  |  | $ | 1,217 |  |  | $ | 1,705 |  |  | $ | 1,701 |  |  | $ | 440 |  |  | $ | 459 |
Prior service cost (income) | 30 |  |  | 19 |  |  | 3 |  |  | 5 |  |  | (7 | ) |  | (7 | )
Total | $ | 1,136 |  |  | $ | 1,236 |  |  | $ | 1,708 |  |  | $ | 1,706 |  |  | $ | 433 |  |  | $ | 452 |
Components of net periodic benefit cost for the pension plans | Service cost is reported in Compensation and benefits and all other components are reported in Other income (expense) as follows (in millions):
| U.K. |  | U.S. |  | Other
| 2018 |  | 2017 |  | 2016 |  | 2018 |  | 2017 |  | 2016 |  | 2018 |  | 2017 |  | 2016
Service cost | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost | 109 |  |  | 123 |  |  | 158 |  |  | 99 |  |  | 96 |  |  | 111 |  |  | 27 |  |  | 26 |  |  | 29 |
Expected return on plan assets, net of administration expenses | (192 | ) |  | (199 | ) |  | (243 | ) |  | (144 | ) |  | (140 | ) |  | (156 | ) |  | (45 | ) |  | (47 | ) |  | (48 | )
Amortization of prior-service cost | 1 |  |  | 1 |  |  | 2 |  |  | 2 |  |  | 2 |  |  | 2 |  |  | — |  |  | — |  |  | — |
Amortization of net actuarial loss | 28 |  |  | 31 |  |  | 31 |  |  | 59 |  |  | 50 |  |  | 50 |  |  | 12 |  |  | 11 |  |  | 10 |
Net periodic benefit (income) cost | (54 | ) |  | (44 | ) |  | (52 | ) |  | 16 |  |  | 8 |  |  | 7 |  |  | (6 | ) |  | (10 | ) |  | (9 | )
Settlement expense | 37 |  |  | 125 |  |  | 61 |  |  | — |  |  | — |  |  | 158 |  |  | — |  |  | — |  |  | — |
Total net periodic benefit cost (income) | $ | (17 | ) |  | $ | 81 |  |  | $ | 9 |  |  | $ | 16 |  |  | $ | 8 |  |  | $ | 165 |  |  | $ | (6 | ) |  | $ | (10 | ) |  | $ | (9 | )
Weighted-average assumptions used to determine future benefit obligations and net periodic benefit cost | The weighted-average assumptions used to determine benefit obligations are as follows:
| U.K. |  | U.S. (1) |  | Other
| 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017
Discount rate | 2.95% |  | 2.63% |  | 3.92 - 4.26% |  | 3.27 - 3.61% |  | 1.89 - 3.88% |  | 1.78 - 3.39%
Rate of compensation increase | 3.73 - 4.23% |  | 3.70 - 4.20% |  | N/A |  | N/A |  | 1.00 - 3.00% |  | 1.00 - 3.00%
Underlying price inflation | 1.88% |  | 1.87% |  | N/A |  | N/A |  | 2.00% |  | 2.00%
(1) | U.S. pension plans are frozen and therefore not impacted by compensation increases or price inflation.
The weighted-average assumptions used to determine the net periodic benefit cost are as follows:
| U.K. |  | U.S. |  | Other
| 2018 |  | 2017 |  | 2016 |  | 2018 |  | 2017 |  | 2016 |  | 2018 |  | 2017 |  | 2016
Discount rate | 2.63% |  | 2.77% |  | 3.96% |  | 3.27 - 3.61% |  | 3.53 - 4.11% |  | 3.69 - 4.43% |  | 1.78 - 3.39% |  | 1.85 - 3.81% |  | 2.43 - 3.96%
Expected return on plan assets, net of administration expenses | 3.34% |  | 3.36% |  | 4.55% |  | 7.71% |  | 7.88% |  | 7.81% |  | 1.70 - 4.85% |  | 2.68 - 5.15% |  | 3.47 - 4.95%
Rate of compensation increase | 3.70 - 4.20% |  | 3.70 - 4.20% |  | 3.63 - 4.13% |  | N/A |  | N/A |  | N/A |  | 1.00 - 3.00% |  | 1.00 - 3.50% |  | 2.00 - 3.50%
Fair values of pension plan assets | The fair values of the Company’s major U.K. pension plan assets at December 31, 2018 and December 31, 2017, by asset category, are as follows (in millions):
|  |  | Fair Value Measurements Using
| Balance at December 31, 2018 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Cash and cash equivalents (1) | $ | 96 |  |  | $ | 96 |  |  | $ | — |  |  | $ | — |
Equity investments: |  |  |  |  |  |  |  |
Pooled funds: |  |  |  |  |  |  |
Global (2) | 209 |  |  | — |  |  | — |  |  | — |
Europe (2) | 3 |  |  | — |  |  | — |  |  | — |
Fixed income investments: (3) |  |  |  |  |  |  |
Derivatives (4) | (949 | ) |  | — |  |  | (949 | ) |  | — |
Fixed income securities (5) | 2,446 |  |  | 2,079 |  |  | 367 |  |  | — |
Annuities | 1,688 |  |  | — |  |  | — |  |  | 1,688 |
Pooled funds: |  |  |  |  |  |  |
Derivatives (2) | 39 |  |  | — |  |  | — |  |  | — |
Fixed income securities (2) | 850 |  |  | — |  |  | — |  |  | — |
Other investments: |  |  |  |  |  |  |
Real estate (2) (6) | 149 |  |  | — |  |  | — |  |  | — |
Alternative investments (2) (7) | 694 |  |  | — |  |  | — |  |  | — |
Total | $ | 5,225 |  |  | $ | 2,175 |  |  | $ | (582 | ) |  | $ | 1,688 |
(1) | Consists of cash and institutional short-term investment funds.
(2) | Certain investments measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the above table are intended to permit reconciliation of the fair values to the amounts presented in the plan assets contained in this Note.
(3) | Consists of various equity, fixed income, commodity, and real estate mutual fund type investment vehicles.
(4) | Consists of equity securities and equity derivatives, including repurchase agreements.
(5) | Consists of corporate and government bonds.
(6) | Consists of property funds and trusts holding direct real estate investments.
(7) | Consists of limited partnerships, private equity, and hedge funds.
|  |  | Fair Value Measurements Using
| Balance at December 31, 2017 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Cash and cash equivalents (1) | $ | 209 |  |  | $ | 209 |  |  | $ | — |  |  | $ | — |
Equity investments: |  |  |  |  |  |  |
Pooled funds: |  |  |  |  |  |  |  |  |  |  |
Global (2) | 401 |  |  | — |  |  | — |  |  | — |
Europe (2) | 6 |  |  | — |  |  | — |  |  | — |
Fixed income investments: (3) |  |  |  |  |  |  |  |  |  |  |
Derivatives (4) | (771 | ) |  | — |  |  | (771 | ) |  | — |
Fixed income securities (5) | 2,787 |  |  | 2,362 |  |  | 425 |  |  | — |
Annuities | 1,909 |  |  | — |  |  | — |  |  | 1,909 |
Pooled funds: |  |  |  |  |  |  |  |  |  |  |
Derivatives (2) | 57 |  |  | — |  |  | — |  |  | — |
Fixed income securities (2) | 251 |  |  | — |  |  | — |  |  | — |
Other investments: |  |  |  |  |  |  |
Real estate (2) (6) | 146 |  |  | — |  |  | — |  |  | — |
Alternative investments (2) (7) | 911 |  |  | — |  |  | — |  |  | — |
Total | $ | 5,906 |  |  | $ | 2,571 |  |  | $ | (346 | ) |  | $ | 1,909 |
(1) | Consists of cash and institutional short-term investment funds.
(2) | Certain investments measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the above table are intended to permit reconciliation of the fair values to the amounts presented in the plan assets contained in this Note.
(3) | Consists of various equity, fixed income, commodity, and real estate mutual fund type investment vehicles.
(4) | Consists of equity securities and equity derivatives, including repurchase agreements.
(5) | Consists of corporate and government bonds.
(6) | Consists of property funds and trusts holding direct real estate investments.
(7) | Consists of limited partnerships, private equity, and hedge funds.
The fair values of the Company’s U.S. pension plan assets at December 31, 2018 and December 31, 2017, by asset category, are as follows (in millions):
|  |  | Fair Value Measurements Using
Asset Category | Balance at December 31, 2018 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Cash and cash equivalents (1) | $ | 130 |  |  | $ | 130 |  |  | $ | — |  |  | $ | — |
Equity investments: |  |  |  |  |  |  |
Large cap domestic | 294 |  |  | 294 |  |  | — |  |  | — |
Small cap domestic | 14 |  |  | 14 |  |  | — |  |  | — |
International | 76 |  |  | 76 |  |  | — |  |  | — |
Equity derivatives | (14 | ) |  | — |  |  | (14 | ) |  | — |
Pooled funds: |  |  |  |  |  |  |
International (2) | 235 |  |  | — |  |  | — |  |  | — |
Large cap domestic (2) | 8 |  |  | — |  |  | — |  |  | — |
Small cap domestic (2) | 42 |  |  | — |  |  | — |  |  | — |
Fixed income investments: (3) |  |  |  |  |  |  |
Corporate bonds | 111 |  |  | — |  |  | 111 |  |  | — |
Government and agency bonds | 126 |  |  | 95 |  |  | 31 |  |  | — |
Asset-backed securities | 2 |  |  | — |  |  | 2 |  |  | — |
Pooled funds: |  |  |  |  |  |  |  |  |  |  |
Government and agency bonds (2) | 95 |  |  | — |  |  | — |  |  | — |
Corporate bonds (2) | 322 |  |  | — |  |  | — |  |  | — |
Other investments: |  |  |  |  |  |  |
Real estate and REITs (4) | 78 |  |  | 78 |  |  | — |  |  | — |
Alternative investments (2) (5) | 277 |  |  | — |  |  | — |  |  | — |
Total | $ | 1,796 |  |  | $ | 687 |  |  | $ | 130 |  |  | $ | — |
(1) | Consists of cash and institutional short-term investment funds.
(2) | Certain investments measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the above table are intended to permit reconciliation of the fair values to the amounts presented in the plan assets contained in this Note.
(3) | Consists of corporate and government bonds, asset-backed securities, and fixed-income derivatives.
(4) | Consists of exchange traded real estate investment trusts (“REITs”).
(5) | Consists of limited partnerships, private equity, and hedge funds.
|  |  | Fair Value Measurements Using
Asset Category | Balance at December 31, 2017 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Cash and cash equivalents (1) | $ | 56 |  |  | $ | 56 |  |  | $ | — |  |  | $ | — |
Equity investments: |  |  |  |  |  |  |
Large cap domestic | 313 |  |  | 313 |  |  | — |  |  | — |
Small cap domestic | 17 |  |  | 17 |  |  | — |  |  | — |
International | 90 |  |  | 90 |  |  | — |  |  | — |
Equity derivatives | 111 |  |  | — |  |  | 111 |  |  | — |
Pooled funds: |  |  |  |  |  |  |
International (2) | 270 |  |  | — |  |  | — |  |  | — |
Large cap domestic (2) | 12 |  |  | — |  |  | — |  |  | — |
Small cap domestic (2) | 114 |  |  | — |  |  | — |  |  | — |
Fixed income investments: (3) |  |  |  |  |  |  |
Corporate bonds | 110 |  |  | — |  |  | 110 |  |  | — |
Government and agency bonds | 148 |  |  | 114 |  |  | 34 |  |  | — |
Pooled funds: |  |  |  |  |  |  |
Corporate bonds (2) | 290 |  |  | — |  |  | — |  |  | — |
Other investments: |  |  |  |  |  |  |
Real estate and REITs (4) | 82 |  |  | 82 |  |  | — |  |  | — |
Alternative investments (2) (5) | 345 |  |  | — |  |  | — |  |  | — |
Total | $ | 1,958 |  |  | $ | 672 |  |  | $ | 255 |  |  | $ | — |
(1) | Consists of cash and institutional short-term investment funds.
(2) | Certain investments measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the above table are intended to permit reconciliation of the fair values to the amounts presented in the plan assets contained in this Note.
(3) | Consists of corporate and government bonds, asset-backed securities, and fixed-income derivatives.
(4) | Consists of exchange traded REITs.
(5) | Consists of limited partnerships, private equity, and hedge funds.
The fair values of the Company’s other major pension plan assets at December 31, 2018 and December 31, 2017, by asset category, are as follows (in millions):
|  |  | Fair Value Measurements Using
| Balance at December 31, 2018 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Cash and cash equivalents | $ | 10 |  |  | $ | 10 |  |  | $ | — |  |  | $ | — |
Equity investments: |  |  |  |  |  |  |
Pooled funds: |  |  |  |  |  |  |
Global (1) | 281 |  |  | — |  |  | — |  |  | — |
Fixed income investments: |  |  |  |  |  |  |
Derivatives (2) | 9 |  |  | — |  |  | 9 |  |  | — |
Pooled funds: |  |  |  |  |  |  |
Fixed income securities (1) | 766 |  |  | — |  |  | — |  |  | — |
Derivatives (1)(2) | 16 |  |  | — |  |  | — |  |  | — |
Other investments: |  |  |  |  |  |  |
Alternative investments (1) (3) | 63 |  |  | — |  |  | — |  |  | — |
Pooled funds: |  |  |  |  |  |  |
REITs (1) (4) | 10 |  |  | — |  |  | — |  |  | — |
Total | $ | 1,155 |  |  | $ | 10 |  |  | $ | 9 |  |  | $ | — |
(1) | Certain investments measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the above table are intended to permit reconciliation of the fair values to the amounts presented in the plan assets contained in this Note.
(2) | Consists of corporate and government bonds and fixed-income derivatives.
(3) | Consists of limited partnerships, private equity, and hedge funds.
(4) | Consists of property funds and trusts holding direct real estate investments.
|  |  | Fair Value Measurements Using
| Balance at December 31, 2017 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Cash and cash equivalents | $ | 11 |  |  | $ | 11 |  |  | $ | — |  |  | $ | — |
Equity investments: |  |  |  |  |  |  |
Pooled funds: |  |  |  |  |  |  |
Global (1) | 370 |  |  | — |  |  | — |  |  | — |
North America (1) | 26 |  |  | — |  |  | — |  |  | — |
Fixed income investments: |  |  |  |  |  |  |  |  |  |
Fixed income securities (2) | 211 |  |  | — |  |  | 211 |  |  | — |
Derivatives (2) | 40 |  |  | — |  |  | 40 |  |  | — |
Pooled funds: |  |  |  |  |  |  |  |  |  |
Fixed income securities (1) | 566 |  |  | — |  |  | — |  |  | — |
Other investments: |  |  |  |  |  |  |  |  |  |
Alternative investments (1) (3) | 26 |  |  | — |  |  | — |  |  | — |
Pooled funds: |  |  |  |  |  |  |  |  |  |
REITs (1) (4) | 6 |  |  | — |  |  | — |  |  | — |
Total | $ | 1,256 |  |  | $ | 11 |  |  | $ | 251 |  |  | $ | — |
(1) | Certain investments measured at fair value using the net asset value per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the above table are intended to permit reconciliation of the fair values to the amounts presented in the plan assets contained in this Note.
(2) | Consists of corporate and government bonds and fixed-income derivatives.
(3) | Consists of limited partnerships, private equity, and hedge funds.
(4) | Consists of property funds and trusts holding direct real estate investments.
Changes in the Level 3 fair-value category | The following table presents the changes in the Level 3 fair-value category in the Company’s U.K. pension plans for the years ended December 31, 2018 and December 31, 2017 (in millions):
Fair Value Measurements Using Level 3 Inputs | Annuities
Balance at January 1, 2017 | $ | 1,773 |
Actual return on plan assets: |
Relating to assets still held at December 31, 2017 | (66 | )
Purchases, sales and settlements—net | 45 |
Foreign exchange | 157 |
Balance at December 31, 2017 | 1,909 |
Actual return on plan assets: |
Relating to assets still held at December 31, 2018 | (122 | )
Purchases, sales and settlements—net | 7 |
Foreign exchange | (106 | )
Balance at December 31, 2018 | $ | 1,688 |
Estimated Future Benefit Payments | Estimated future benefit payments for plans, not including voluntary one-time lump sum payments, are as follows at December 31, 2018 (in millions):
|  | U.K. |  | U.S. |  | Other
2019 |  | $ | 137 |  |  | $ | 178 |  |  | $ | 42 |
2020 |  | 139 |  |  | 182 |  |  | 43 |
2021 |  | 144 |  |  | 185 |  |  | 44 |
2022 |  | 149 |  |  | 187 |  |  | 45 |
2023 |  | 152 |  |  | 177 |  |  | 46 |
2024 – 2028 |  | 795 |  |  | 879 |  |  | 248 |
Other information related to the Company's other post-retirement benefit plans | Other information related to the Company’s other postretirement benefit plans are as follows:
| 2018 |  | 2017 |  | 2016
Net periodic benefit cost recognized (millions) | $3 |  | $1 |  | $5
Weighted-average discount rate used to determine future benefit obligations | 3.91 - 4.26% |  | 3.32 - 3.64% |  | 3.71 - 4.15%
Weighted-average discount rate used to determine net periodic benefit costs | 3.32 - 3.64% |  | 3.71 - 4.15% |  | 3.99 - 4.33%

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- Definition Disclosure of the change in the benefit obligation and the fair value of assets of pension plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. + References No definition available. + Details
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- Definition Disclosure of the net periodic benefit cost recognized, weighted-average discount rate used to determine future benefit obligations and weighted-average discount rate used to determine net periodic benefit costs for the other post-retirement benefits plan. + References No definition available. + Details
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- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
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