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Employee Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]  
Schedule of Changes in Accumulated Postemployment Benefit Obligations
The following table shows the change in the accumulated postretirement benefit obligation (APBO) for the years ended December 31, 2015 and 2014:
 
(in millions)
 
2015
 
2014
APBO at beginning of period
 
$
169

 
$
138

Service cost
 
11

 
10

Interest cost
 
7

 
7

Benefits paid
 
(6
)
 
(4
)
Actuarial loss
 
20

 
21

  Settlements
 
$
—

 
$
(3
)
APBO at end of period
 
$
201


$
169
Schedule of Amounts Recognized in Balance Sheet
The following table reconciles the funded status of the plans to the accrued postretirement benefit cost recognized in Other non-current liabilities on the Company’s Consolidated Balance Sheet at December 31, 2015 and 2014.
 
(in millions)
 
2015
 
2014
Funded status
 
$
(201
)
 
$
(169
)
Unrecognized net actuarial gain
 
(31
)
 
(53
)
Unrecognized prior service cost
 
9

 
12

Accumulated other comprehensive income
 
22

 
41

Cost recognized on Consolidated Balance Sheet
 
$
(201
)

$
(169
)
Schedule of Net Benefit Costs
The consolidated periodic postretirement benefit cost for the years ended December 31, 2015, 2014, and 2013, included the following:
 
(in millions)
 
2015
 
2014
 
2013
Service cost
 
$
11

 
$
10

 
$
30

Interest cost
 
7

 
7

 
4

Amortization of prior service cost
 
3

 
3

 
3

Recognized actuarial gain
 
(3
)
 
(4
)
 
(4
)
Settlements
 
$
—

 
$
(1
)
 
$
—

Net periodic postretirement benefit cost
 
$
18

 
$
15

 
$
33
Schedule of Assumptions Used
The following actuarial assumptions were used to account for the Company’s postretirement benefit plans at December 31, 2015, 2014, and 2013:
 
 
 
2015
 
2014
 
2013
Weighted-average discount rate
 
4.50
%
 
4.10
%
 
5.05
%
Assumed healthcare cost trend rate (1)
 
7.08
%
 
6.88
%
 
7.50
%
 
(1)
The assumed healthcare cost trend rate is assumed to remain at 7.08% for 2016, then decline gradually to 5.19% by 2026 and remain level thereafter.
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
The assumed healthcare cost trend rates have a significant effect on the amounts reported for the consolidated postretirement plans. A one percent change in all healthcare cost trend rates used in measuring the APBO at December 31, 2015, would have the following effects:
 
(in millions)
 
1% increase
 
1% decrease
Increase (decrease) in total service and interest costs
 
$
3

 
$
(2
)
Increase (decrease) in the APBO
 
$
29

 
$
(24
)