XML 63 R46.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Employee Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Retirement Benefits [Abstract] |
Retirement Plan Expense |
| Pension Benefits |  | Postretirement Benefits
(In millions) | Year Ended December 31 |  | Year Ended December 31
| 2017 | 2016 | 2015 |  | 2017 | 2016 | 2015
Retirement plan expense |  |  |  |  |  |  |
Defined benefit plans: |  |  |  |  |  |  |
Service cost (benefits earned during the period) | $ | 78 |  | $ | 82 |  | $ | 92 |  |  | $ | 2 |  | $ | 3 |  | $ | 5 |
Interest cost | 106 |  | 113 |  | 112 |  |  | 6 |  | 8 |  | 8 |
Expected return on plan assets | (145 | ) | (137 | ) | (129 | ) |  | — |  | — |  | — |
Settlement charges | — |  | (5 | ) | 60 |  |  | — |  | — |  | — |
Curtailments | — |  | — |  | — |  |  | — |  | (38 | ) | — |
Amortization of actuarial loss | 65 |  | 56 |  | 69 |  |  | 4 |  | 3 |  | 7 |
Amortization of prior service cost (credit) | (7 | ) | 2 |  | 2 |  |  | (13 | ) | (17 | ) | (17 | )
Net periodic defined benefit plan expense | 97 |  | 111 |  | 206 |  |  | (1 | ) | (41 | ) | 3 |
Defined contribution plans | 57 |  | 57 |  | 52 |  |  | — |  | — |  | — |
Total retirement plan expense | $ | 154 |  | $ | 168 |  | $ | 258 |  |  | $ | (1 | ) | $ | (41 | ) | $ | 3 |
Changes In Defined Benefit Obligation And Fair Value Of Defined Benefit Plan Assets | The following tables set forth changes in the defined benefit obligation and the fair value of defined benefit plan assets for the years ended December 31, 2017 and 2016:
| Pension Benefits |  | Postretirement Benefits
| December 31 2017 |  | December 31 2016 |  | December 31 2017 |  | December 31 2016
| (In millions) |  | (In millions)
Benefit obligation, beginning | $ | 2,992 |  |  | $ | 2,880 |  |  | $ | 171 |  |  | $ | 199 |
Service cost | 78 |  |  | 82 |  |  | 2 |  |  | 3 |
Interest cost | 106 |  |  | 113 |  |  | 6 |  |  | 8 |
Actuarial loss (gain) | 129 |  |  | 132 |  |  | (4 | ) |  | 5 |
Employee contributions | 2 |  |  | 1 |  |  | — |  |  | — |
Curtailments | — |  |  | — |  |  | — |  |  | (38 | )
Acquisitions | 3 |  |  | — |  |  | — |  |  | — |
Settlements | (6 | ) |  | (10 | ) |  | — |  |  | — |
Divestitures | — |  |  | (8 | ) |  | — |  |  | — |
Benefits paid | (86 | ) |  | (142 | ) |  | (11 | ) |  | (9 | )
Plan amendments | (180 | ) |  | — |  |  | (10 | ) |  | 3 |
Actual expenses | (2 | ) |  | (2 | ) |  | — |  |  | — |
Foreign currency effects | 73 |  |  | (54 | ) |  | — |  |  | — |
Benefit obligation, ending | $ | 3,109 |  |  | $ | 2,992 |  |  | $ | 154 |  |  | $ | 171 |
Fair value of plan assets, beginning | $ | 2,131 |  |  | $ | 1,922 |  |  | $ | — |  |  | $ | — |
Actual return on plan assets | 340 |  |  | 232 |  |  | — |  |  | — |
Employer contributions | 29 |  |  | 183 |  |  | 11 |  |  | 9 |
Employee contributions | 2 |  |  | 1 |  |  | — |  |  | — |
Settlements | (6 | ) |  | (10 | ) |  | — |  |  | — |
Divestitures | — |  |  | (2 | ) |  | — |  |  | — |
Benefits paid | (86 | ) |  | (142 | ) |  | (11 | ) |  | (9 | )
Actual expenses | (2 | ) |  | (2 | ) |  | — |  |  | — |
Foreign currency effects | 40 |  |  | (51 | ) |  | — |  |  | — |
Fair value of plan assets, ending | $ | 2,448 |  |  | $ | 2,131 |  |  | $ | — |  |  | $ | — |
Funded status | $ | (661 | ) |  | $ | (861 | ) |  | $ | (154 | ) |  | $ | (171 | )
Prepaid benefit cost | $ | 55 |  |  | $ | 30 |  |  | $ | — |  |  | $ | — |
Accrued benefit liability – current | (17 | ) |  | (16 | ) |  | (12 | ) |  | (13 | )
Accrued benefit liability – long-term | (699 | ) |  | (875 | ) |  | (142 | ) |  | (158 | )
Net amount recognized in the balance sheet | $ | (661 | ) |  | $ | (861 | ) |  | $ | (154 | ) |  | $ | (171 | )
Principal Assumptions In Developing Net Periodic Pension Cost | The following table sets forth the principal assumptions used in developing net periodic pension cost:
| Pension Benefits |  | Postretirement Benefits
| December 31 2017 |  | December 31 2016 |  | December 31 2017 |  | December 31 2016
Discount rate | 3.7% |  | 4.0% |  | 3.9% |  | 4.0%
Expected return on plan assets | 6.8% |  | 7.1% |  | N/A |  | N/A
Rate of compensation increase | 4.6% |  | 4.7% |  | N/A |  | N/A
The following table sets forth the principal assumptions used in developing the year-end actuarial present value of the projected benefit obligations:
| Pension Benefits |  | Postretirement Benefits
| December 31 2017 |  | December 31 2016 |  | December 31 2017 |  | December 31 2016
Discount rate | 3.4 | % |  | 3.7 | % |  | 3.7% |  | 3.9%
Rate of compensation increase | 4.7 | % |  | 4.6 | % |  | N/A |  | N/A
Impact Of 1% Change In Assumed Health Care Cost Trend Rates | A 1% change in assumed health care cost trend rates would have the following effects:
| 1% Increase |  | 1% Decrease
| (In millions)
Effect on accumulated postretirement benefit obligations | $ | 5 |  |  | $ | (5 | )
Schedule Of Fair Value Of Plan Assets | The following tables set forth, by level within the fair value hierarchy, the fair value of plan assets as of December 31, 2017 and 2016.
| Fair Value Measurements 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) |  | Total
| (In millions)
Common stock | $ | 261 |  |  | $ | — |  |  | $ | — |  |  | $ | 261 |
Mutual funds | 750 |  |  | — |  |  | — |  |  | 750 |
Corporate bonds | — |  |  | 601 |  |  | — |  |  | 601 |
U.S. Treasury instruments | 98 |  |  | — |  |  | — |  |  | 98 |
U.S. government agency, state and local government bonds | — |  |  | 29 |  |  | — |  |  | 29 |
Other | — |  |  | 19 |  |  | — |  |  | 19 |
Total assets | $ | 1,109 |  |  | $ | 649 |  |  | $ | — |  |  | $ | 1,758 |
Common collective trust funds at NAV |  |  |  |  |  |  |
U.S. equity |  |  |  |  |  |  | 327 |
International equity |  |  |  |  |  |  | 363 |
Total assets at fair value |  |  |  |  |  |  | $ | 2,448 |
| Fair Value Measurements at December 31, 2016
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
| (In millions)
Common stock | $ | 224 |  |  | $ | — |  |  | $ | — |  |  | $ | 224 |
Mutual funds | 646 |  |  | — |  |  | — |  |  | 646 |
Corporate bonds | — |  |  | 492 |  |  | — |  |  | 492 |
U.S. Treasury instruments | 150 |  |  | — |  |  | — |  |  | 150 |
U.S. government agency, state and local government bonds | — |  |  | 22 |  |  | — |  |  | 22 |
Other | — |  |  | 4 |  |  | — |  |  | 4 |
Total assets | $ | 1,020 |  |  | $ | 518 |  |  | $ | — |  |  | $ | 1,538 |
Common collective trust funds at NAV |  |  |  |  |  |  |
U.S. equity |  |  |  |  |  |  | 287 |
International equity |  |  |  |  |  |  | 306 |
Total assets at fair value |  |  |  |  |  |  | $ | 2,131 |
Actual Asset Allocation For Global Pension Plan Assets | The following table sets forth the actual asset allocation for the Company’s global pension plan assets as of the measurement date:
| December 31 2017(1)(2) |  | December 31 2016(2)
Equity securities | 58% |  | 59%
Debt securities | 40% |  | 40%
Other | 2% |  | 1%
Total | 100% |  | 100%
(1) | The Company’s U.S. pension plans contain approximately 78% of the Company’s global pension plan assets. The actual asset allocation for the Company’s U.S. pension plans as of the measurement date consists of 60% equity securities and 40% debt securities. The target asset allocation for the Company’s U.S. pension plans is approximately the same as the actual asset allocation. The actual asset allocation for the Company’s foreign pension plans as of the measurement date consists of 56% equity securities, 43% debt securities, and 1% in other investments. The target asset allocation for the Company’s foreign pension plans is approximately the same as the actual asset allocation.
(2) | The Company’s pension plans did not directly hold any shares of Company common stock as of the December 31, 2017 and 2016 measurement dates.
Expected Future Benefit Payments To Be Paid | The following benefit payments, which reflect expected future service, are expected to be paid by the benefit plans:
| Pension Benefits |  | Postretirement Benefits
| (In millions)
2018 | $ | 105 |  |  | $ | 12 |
2019 | 112 |  |  | 12 |
2020 | 118 |  |  | 12 |
2021 | 125 |  |  | 12 |
2022 | 132 |  |  | 11 |
2023-2027 | 762 |  |  | 54 |

X
- Definition Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a)(b)(c) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e2439-114920 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e2417-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e2410-114920 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=77993564&loc=d3e4179-114921 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (m) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfEffectOfOnePercentagePointChangeInAssumedHealthCareCostTrendRatesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration