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EMPLOYEE BENEFITS (Tables)

12 Months Ended

Dec. 31, 2018

EMPLOYEE BENEFITS [Abstract]

Schedule of Net Benefit Costs

The net periodic benefits costs were valued with a measurement date of January 1 for each year and August 31, 2017 remeasurement date and consisted of the following components (in millions of dollars):

	For the Years Ended December 31,
	2018				2017				2016
SG&A
Service cost	$	6			$	7			$	8
Other income (expense)
Interest cost	7				8				10
Expected return on assets	(13		)		(12		)		(10		)
Amortization of prior service credit	(10		)		(7		)		(7		)
Amortization of unrecognized gains	(3		)		(2		)		—
Net periodic (benefits) costs	$	(13	)		$	(6	)		$	1

Schedule of Accumulated and Projected Benefit Obligations

Reconciliations of the beginning and ending balances of the postretirement benefit obligation, which is calculated as of December 31 measurement date, the fair value of plan assets available for benefits and the funded status of the benefit obligation follow (in millions of dollars):

	2018				2017
Benefit obligation at beginning of year	$	208			$	265
Service cost	6				7
Interest cost	7				8
Plan participants' contributions	3				3
Actuarial (gains)	(26		)		(34		)
Plan amendment	—				(34		)
Benefits paid	(9		)		(9		)
Prescription drug rebates	1				2
Benefit obligation at end of year	190				208
Plan assets available for benefits at beginning of year	189				164
Actual (losses) returns on plan assets	(8		)		29
Plan participants' contributions	3				3
Benefits paid	(9		)		(8		)
Prescription drug rebates	1				1
Plan assets available for benefits at end of year	176				189
Noncurrent postretirement benefit obligation	$	14			$	19

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

The amounts recognized in AOCE consisted of the following (in millions of dollars):

	As of December 31,
	2018				2017
Prior service credit	$	71			$	80
Unrecognized gains	37				37
Deferred tax (liability)	(26		)		(44		)
Net accumulated gains	$	82			$	73

Schedule of Assumptions Used

The following assumptions were used to determine net periodic benefit costs at January 1 of each year (excluding the August 31, 2017 remeasurement date):

	For the Years Ended December 31,
	2018			2017			2016
Discount rate	3.44	%		4.00	%		4.20	%
Long-term rate of return on plan assets, net of tax	7.13	%		7.13	%		6.65	%
Initial healthcare cost trend rate
Pre age 65	6.56	%		6.81	%		7.00	%
Post age 65	NA			9.36	%		7.00	%
Catastrophic drug benefit	12.50	%		NA			NA
Ultimate healthcare cost trend rate	4.50	%		4.50	%		4.50	%
Year ultimate healthcare cost trend rate reached	2026			2026			2026
HRA credit inflation index for grandfathered retirees	2.50	%		NA			NA

The following assumptions were used to determine benefit obligations at December 31:

	2018			2017			2016
Discount rate	4.08	%		3.44	%		4.00	%
Expected long-term rate of return on plan assets, net of tax	7.13	%		7.13	%		7.13	%
Initial healthcare cost trend rate
Pre age 65	6.31	%		6.56	%		6.81	%
Post age 65	N/A			NA			9.36	%
Catastrophic drug benefit	11.50	%		12.50	%		N/A
Ultimate healthcare cost trend rate	4.50	%		4.50	%		4.50	%
Year ultimate healthcare cost trend rate reached	2026			2026			2026
HRA credit inflation index for grandfathered retirees	2.50	%		2.50	%		N/A

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

Schedule of Allocation of Plan Assets

The plan's assets are stated at fair value, which represents the net asset value of shares held by the plan in the registered investment companies at the quoted market prices (level 1 input). The plan assets available for benefits are net of Trust liabilities, primarily related to deferred income taxes and taxes payable at December 31 (in millions of dollars):

	2018				2017
Registered investment companies:
Fidelity Spartan U.S. Equity Index Fund	$	80			$	83
Vanguard 500 Index Fund	93				104
Vanguard Total International Stock	26				30
Plan Assets	199				217
Trust liabilities	(23		)		(28		)
Plan assets available for benefits	$	176			$	189

Schedule of Expected Benefit Payments

The Company forecasts the following benefit payments related to postretirement (which include a projection for expected future employee service) for the next ten years (in millions of dollars):

Year		Estimated Gross Benefit Payments
2019		$	8
2020		9
2021		10
2022		11
2023		12
2024-2028		66

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EMPLOYEE BENEFITS [Abstract]

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Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

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Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost.

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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.

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Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit 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.

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Tabular disclosure of the effect of a one-percentage-point increase and the effect of a one-percentage-point decrease in the assumed health care cost trend rates on the aggregate of the service and interest cost components of net periodic postretirement health care benefit costs and the accumulated postretirement benefit obligation for health care benefits.

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Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

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Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

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