XML 63 R46.htm IDEA: XBRL DOCUMENT v3.8.0.1
Pensions And Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]  
Changes in Benefit Obligations, Plan Assets and Funded Status

Year Ended December 31, 2017

Year Ended December 31, 2016

Pension Benefits

Global OPEB Plans

Pension Benefits

Global OPEB Plans

U.S.

Non-U.S.


U.S.

Non-U.S.

Change in benefit obligations











Beginning benefit obligation
$
68,827


$
21,156


$
6,180


$
71,486


$
21,008


$
6,066

Service cost
203


180


19


220


255


18

Interest cost
2,145


473


202


2,212


527


201

Actuarial losses
2,885


561


311


416


1,328


230

Benefits paid
(5,067
)

(1,369
)

(426
)

(5,507
)

(1,458
)

(400
)
Foreign currency translation adjustments
—


1,953


78


—


(445
)

45

Curtailments, settlements and other
(543
)

(165
)

10


—


(59
)

20

Ending benefit obligation
68,450


22,789


6,374


68,827


21,156


6,180

Change in plan assets

















Beginning fair value of plan assets
61,622


12,799


—


61,072


12,794


—

Actual return on plan assets
6,549


1,025


—


4,004


750


—

Employer contributions
77


1,153


406


2,054


1,022


378

Benefits paid
(5,067
)

(1,369
)

(426
)

(5,507
)

(1,458
)

(400
)
Foreign currency translation adjustments
—


1,007


—


—


(229
)

—

Settlements and other
(542
)

(120
)

20


(1
)

(80
)

22

Ending fair value of plan assets
62,639


14,495


—


61,622


12,799


—

Ending funded status
$
(5,811
)

$
(8,294
)

$
(6,374
)

$
(7,205
)

$
(8,357
)

$
(6,180
)
Amounts recorded in the consolidated balance sheets

















Non-current assets
$
—


$
67


$
—


$
—


$
91


$
—

Current liabilities
(71
)

(355
)

(376
)

(73
)

(316
)

(377
)
Non-current liabilities
(5,740
)

(8,006
)

(5,998
)

(7,132
)

(8,132
)

(5,803
)
Net amount recorded
$
(5,811
)

$
(8,294
)

$
(6,374
)

$
(7,205
)

$
(8,357
)

$
(6,180
)
Amounts recorded in Accumulated other comprehensive loss

















Net actuarial gain (loss)
$
114


$
(4,163
)

$
(1,186
)

$
55


$
(3,852
)

$
(901
)
Net prior service (cost) credit
23


(26
)

55


27


(30
)

54

Total recorded in Accumulated other comprehensive loss
$
137


$
(4,189
)

$
(1,131
)

$
82


$
(3,882
)

$
(847
)
Schedule of amounts recorded in the consolidated balance sheets

Year Ended December 31, 2017

Year Ended December 31, 2016

Pension Benefits

Global OPEB Plans

Pension Benefits

Global OPEB Plans

U.S.

Non-U.S.


U.S.

Non-U.S.

Change in benefit obligations











Beginning benefit obligation
$
68,827


$
21,156


$
6,180


$
71,486


$
21,008


$
6,066

Service cost
203


180


19


220


255


18

Interest cost
2,145


473


202


2,212


527


201

Actuarial losses
2,885


561


311


416


1,328


230

Benefits paid
(5,067
)

(1,369
)

(426
)

(5,507
)

(1,458
)

(400
)
Foreign currency translation adjustments
—


1,953


78


—


(445
)

45

Curtailments, settlements and other
(543
)

(165
)

10


—


(59
)

20

Ending benefit obligation
68,450


22,789


6,374


68,827


21,156


6,180

Change in plan assets

















Beginning fair value of plan assets
61,622


12,799


—


61,072


12,794


—

Actual return on plan assets
6,549


1,025


—


4,004


750


—

Employer contributions
77


1,153


406


2,054


1,022


378

Benefits paid
(5,067
)

(1,369
)

(426
)

(5,507
)

(1,458
)

(400
)
Foreign currency translation adjustments
—


1,007


—


—


(229
)

—

Settlements and other
(542
)

(120
)

20


(1
)

(80
)

22

Ending fair value of plan assets
62,639


14,495


—


61,622


12,799


—

Ending funded status
$
(5,811
)

$
(8,294
)

$
(6,374
)

$
(7,205
)

$
(8,357
)

$
(6,180
)
Amounts recorded in the consolidated balance sheets

















Non-current assets
$
—


$
67


$
—


$
—


$
91


$
—

Current liabilities
(71
)

(355
)

(376
)

(73
)

(316
)

(377
)
Non-current liabilities
(5,740
)

(8,006
)

(5,998
)

(7,132
)

(8,132
)

(5,803
)
Net amount recorded
$
(5,811
)

$
(8,294
)

$
(6,374
)

$
(7,205
)

$
(8,357
)

$
(6,180
)
Amounts recorded in Accumulated other comprehensive loss

















Net actuarial gain (loss)
$
114


$
(4,163
)

$
(1,186
)

$
55


$
(3,852
)

$
(901
)
Net prior service (cost) credit
23


(26
)

55


27


(30
)

54

Total recorded in Accumulated other comprehensive loss
$
137


$
(4,189
)

$
(1,131
)

$
82


$
(3,882
)

$
(847
)
Schedule of Projected Benefit Obligations in Excess of Fair Value of Plan Assets
The following table summarizes the total accumulated benefit obligations (ABO), the ABO and fair value of plan assets for defined benefit pension plans with ABO in excess of plan assets, and the PBO and fair value of plan assets for defined benefit pension plans with PBO in excess of plan assets:
 
December 31, 2017
 
December 31, 2016
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
ABO
$
68,437

 
$
22,650

 
$
68,813

 
$
20,836

Plans with ABO in excess of plan assets
 
 
 
 
 
 
 
ABO
$
68,437

 
$
21,679

 
$
68,813

 
$
20,172

Fair value of plan assets
$
62,639

 
$
13,408

 
$
61,622

 
$
12,046

Plans with PBO in excess of plan assets
 
 
 
 
 
 
 
PBO
$
68,450

 
$
21,822

 
$
68,827

 
$
20,458

Fair value of plan assets
$
62,639

 
$
13,411

 
$
61,622

 
$
12,009
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
The following table summarizes the total accumulated benefit obligations (ABO), the ABO and fair value of plan assets for defined benefit pension plans with ABO in excess of plan assets, and the PBO and fair value of plan assets for defined benefit pension plans with PBO in excess of plan assets:
 
December 31, 2017
 
December 31, 2016
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
ABO
$
68,437

 
$
22,650

 
$
68,813

 
$
20,836

Plans with ABO in excess of plan assets
 
 
 
 
 
 
 
ABO
$
68,437

 
$
21,679

 
$
68,813

 
$
20,172

Fair value of plan assets
$
62,639

 
$
13,408

 
$
61,622

 
$
12,046

Plans with PBO in excess of plan assets
 
 
 
 
 
 
 
PBO
$
68,450

 
$
21,822

 
$
68,827

 
$
20,458

Fair value of plan assets
$
62,639

 
$
13,411

 
$
61,622

 
$
12,009
Schedule of Net Periodic Pension and OPEB expense
The following table summarizes the components of net periodic pension and OPEB expense along with the assumptions used to determine benefit obligations:

Year Ended December 31, 2017
 
Year Ended December 31, 2016
 
Year Ended December 31, 2015

Pension Benefits
 
Global OPEB Plans
 
Pension Benefits
 
Global OPEB Plans
 
Pension Benefits
 
Global OPEB Plans

U.S.

Non-U.S.


U.S.

Non-U.S.


U.S.

Non-U.S.

Components of expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
315


$
199


$
19


$
381


$
273


$
18


$
406


$
306


$
24

Interest cost
2,145


473


202


2,212


527


201


2,754


689


238

Expected return on plan assets
(3,677
)

(750
)

—


(3,778
)

(733
)

—


(3,896
)

(794
)

—

Amortization of net actuarial (gains) losses
(6
)

157


23


(25
)

137


19


8


188


37

Curtailments, settlements and other(a)
(37
)

8


(5
)

(4
)

16


(13
)

(4
)

141


(14
)
Net periodic pension and OPEB (income) expense
$
(1,260
)

$
87


$
239


$
(1,214
)

$
220


$
225


$
(732
)

$
530


$
285

Weighted-average assumptions used to determine benefit obligations(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Discount rate
3.53
%
 
2.66
%
 
3.52
%
 
3.92
%
 
2.88
%
 
3.93
%
 
4.06
%
 
3.36
%
 
4.13
%
Weighted-average assumptions used to determine net expense(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Discount rate
3.35
%
 
2.94
%
 
3.39
%
 
3.36
%
 
3.14
%
 
3.49
%
 
3.73
%
 
3.30
%
 
3.83
%
Expected rate of return on plan assets
6.23
%
 
5.82
%
 
N/A

 
6.33
%
 
6.07
%
 
N/A

 
6.38
%
 
6.32
%
 
N/A

_________
(a)
The curtailment charges recorded in the year ended December 31, 2015 were due primarily to the GM Canada hourly pension plan that was remeasured as a result of a voluntary separation program.
(b)
The rate of compensation increase does not have a significant effect on our U.S. pension and OPEB plans.
Schedule of Assumptions Used
The following table summarizes the components of net periodic pension and OPEB expense along with the assumptions used to determine benefit obligations:

Year Ended December 31, 2017
 
Year Ended December 31, 2016
 
Year Ended December 31, 2015

Pension Benefits
 
Global OPEB Plans
 
Pension Benefits
 
Global OPEB Plans
 
Pension Benefits
 
Global OPEB Plans

U.S.

Non-U.S.


U.S.

Non-U.S.


U.S.

Non-U.S.

Components of expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
315


$
199


$
19


$
381


$
273


$
18


$
406


$
306


$
24

Interest cost
2,145


473


202


2,212


527


201


2,754


689


238

Expected return on plan assets
(3,677
)

(750
)

—


(3,778
)

(733
)

—


(3,896
)

(794
)

—

Amortization of net actuarial (gains) losses
(6
)

157


23


(25
)

137


19


8


188


37

Curtailments, settlements and other(a)
(37
)

8


(5
)

(4
)

16


(13
)

(4
)

141


(14
)
Net periodic pension and OPEB (income) expense
$
(1,260
)

$
87


$
239


$
(1,214
)

$
220


$
225


$
(732
)

$
530


$
285

Weighted-average assumptions used to determine benefit obligations(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Discount rate
3.53
%
 
2.66
%
 
3.52
%
 
3.92
%
 
2.88
%
 
3.93
%
 
4.06
%
 
3.36
%
 
4.13
%
Weighted-average assumptions used to determine net expense(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Discount rate
3.35
%
 
2.94
%
 
3.39
%
 
3.36
%
 
3.14
%
 
3.49
%
 
3.73
%
 
3.30
%
 
3.83
%
Expected rate of return on plan assets
6.23
%
 
5.82
%
 
N/A

 
6.33
%
 
6.07
%
 
N/A

 
6.38
%
 
6.32
%
 
N/A

_________
(a)
The curtailment charges recorded in the year ended December 31, 2015 were due primarily to the GM Canada hourly pension plan that was remeasured as a result of a voluntary separation program.
(b)
The rate of compensation increase does not have a significant effect on our U.S. pension and OPEB plans.
Schedule of Expected Net Benefit Payments
The following table summarizes net benefit payments expected to be paid in the future, which include assumptions related to estimated future employee service:
 
Pension Benefits
 
Global OPEB Plans
 
U.S. Plans
 
Non-U.S. Plans
 
2018
$
5,288

 
$
1,458

 
$
379

2019
$
5,053

 
$
1,323

 
$
374

2020
$
4,895

 
$
1,302

 
$
368

2021
$
4,758

 
$
1,276

 
$
365

2022
$
4,639

 
$
1,233

 
$
362

2023 - 2027
$
21,553

 
$
5,759

 
$
1,817
Pension Plan [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of contributions to defined benefit pension plans
The following table summarizes contributions made to the defined benefit pension plans:
 
Years Ended December 31,

2017

2016

2015
U.S. hourly and salaried
$
77


$
2,054


$
95

Non-U.S.
1,153


1,022


1,108

Total
$
1,230


$
3,076


$
1,203
Schedules of Fair Value of Plan Assets by Asset Class and Target Allocations
The following table summarizes the target allocations by asset category for U.S. and non-U.S. defined benefit pension plans:

December 31, 2017

December 31, 2016

U.S.

Non-U.S.

U.S.

Non-U.S.
Equity
15
%

18
%

15
%

21
%
Debt
61
%

56
%

61
%

51
%
Other(a)
24
%

26
%

24
%

28
%
Total
100
%

100
%

100
%

100
%

__________
(a)
Primarily includes private equity, real estate and absolute return strategies which mainly consist of hedge funds.

Assets and Fair Value Measurements The following tables summarize the fair value of U.S. and non-U.S. defined benefit pension plan assets by asset class:

December 31, 2017

December 31, 2016

Level 1

Level 2

Level 3

Total

Level 1

Level 2

Level 3

Total
U.S. Pension Plan Assets























Common and preferred stocks
$
8,892


$
17


$
2


$
8,911


$
8,288


$
35


$
3


$
8,326

Government and agency debt securities(a)
—


12,116


—


12,116


—


11,374


—


11,374

Corporate and other debt securities
—


26,122


—


26,122


—


25,452


—


25,452

Other investments, net
552


119


395


1,066


486


288


403


1,177

Net plan assets subject to leveling
$
9,444


$
38,374


$
397


48,215


$
8,774


$
37,149


$
406


46,329

Plan assets measured at net asset value























Investment funds









6,632











6,509

Private equity and debt investments









3,539











4,012

Real estate investments









3,351











3,634

Total plan assets measured at net asset value









13,522











14,155

Other plan assets, net(b)









902











1,138

Net plan assets









$
62,639











$
61,622



December 31, 2017

December 31, 2016

Level 1

Level 2

Level 3

Total

Level 1

Level 2

Level 3

Total
Non-U.S. Pension Plan Assets























Common and preferred stocks
$
578


$
1


$
6


$
585


$
978


$
3


$
—


$
981

Government and agency debt securities(a)
—


3,853


—


3,853


—


3,221


—


3,221

Corporate and other debt securities
—


2,566


—


2,566


—


2,040


3


2,043

Other investments, net
23


149


438


610


37


153


429


619

Net plan assets subject to leveling
$
601


$
6,569


$
444


7,614


$
1,015


$
5,417


$
432


6,864

Plan assets measured at net asset value























Investment funds









5,346











4,428

Private equity and debt investments









570











546

Real estate investments









1,097











1,092

Total plan assets measured at net asset value









7,013











6,066

Other plan assets (liabilities), net(b)









(132
)










(131
)
Net plan assets









$
14,495











$
12,799

__________
(a)
Includes U.S. and sovereign government and agency issues.
(b)
Cash held by the plans, net of amounts receivable/payable for unsettled security transactions and payables for investment manager fees, custody fees and other expenses.