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Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Schedule of Net Funded Status

The following table reconciles the Company's funded status, both domestic and foreign, as of the periods indicated:

December 31,		2015								2014
(in millions)		U.S.				Foreign				U.S.				Foreign
CHANGE IN PROJECTED BENEFIT OBLIGATION:
Benefit obligation as of January 1		$	1,235			$	4,363			$	1,059			$	4,749
Service cost		16				15				14				16
Interest cost		48				351				50				489
Employee contributions		—				3				—				4
Plan amendments		5				2				8				(3		)
Plan settlements		(3		)		—				—				—
Benefits paid		(61		)		(300		)		(59		)		(415		)
Actuarial (gain) loss		(68		)		(160		)		163				87
Effect of foreign currency exchange rate changes		—				(1,301		)		—				(564		)
Benefit obligation as of December 31		$	1,172			$	2,973			$	1,235			$	4,363
CHANGE IN PLAN ASSETS:
Fair value of plan assets as of January 1		$	1,061			$	3,272			$	941			$	3,605
Actual return on plan assets		(7		)		182				123				360
Employer contributions		31				89				56				135
Employee contributions		—				3				—				4
Plan settlements		(3		)		—				—				—
Benefits paid		(61		)		(300		)		(59		)		(415		)
Effect of foreign currency exchange rate changes		—				(962		)		—				(417		)
Fair value of plan assets as of December 31		$	1,021			$	2,284			$	1,061			$	3,272
RECONCILIATION OF FUNDED STATUS
Funded status as of December 31		$	(151	)		$	(689	)		$	(174	)		$	(1,091	)

Schedule of Amounts Recognized in Balance Sheet

The following table summarizes the amounts recognized on the Consolidated Balance Sheets in millions related to the funded status of the plans, both domestic and foreign, as of the periods indicated:

December 31,		2015								2014
AMOUNTS RECOGNIZED ON THE CONSOLIDATED BALANCE SHEETS		U.S.				Foreign				U.S.				Foreign
Noncurrent assets		$	—			$	67			$	—			$	51
Accrued benefit liability—current		—				(5		)		—				(4		)
Accrued benefit liability—noncurrent		(151		)		(751		)		(174		)		(1,138		)
Net amount recognized at end of year		$	(151	)		$	(689	)		$	(174	)		$	(1,091	)

Schedule of Accumulated and Projected Benefit Obligations

The next table summarizes the Company's U.S. and foreign accumulated benefit obligation as of the periods indicated (in millions):

December 31,	2015								2014
	U.S.				Foreign				U.S.				Foreign
Accumulated Benefit Obligation	$	1,150			$	2,931			$	1,208			$	4,301
Information for pension plans with an accumulated benefit obligation in excess of plan assets:
Projected benefit obligation	$	1,172			$	2,683			$	1,235			$	4,021
Accumulated benefit obligation	1,150				2,656				1,208				3,979
Fair value of plan assets	1,021				1,931				1,061				2,885
Information for pension plans with a projected benefit obligation in excess of plan assets:
Projected benefit obligation	$	1,172			$	2,697		(1)	$	1,235			$	4,038		(1)
Fair value of plan assets	1,021				1,942			(1)	1,061				2,897			(1)

⁽¹⁾ $686 million and $1.1 billion of the total net unfunded projected benefit obligation is due to Eletropaulo in Brazil as of December 31, 2015 and 2014, respectively.

Schedule of Assumptions Used

The table below summarizes the significant weighted average assumptions used in the calculation of benefit obligation and net periodic benefit cost, both domestic and foreign, as of the periods indicated:

December 31,	2015						2014
	U.S.			Foreign			U.S.			Foreign
Benefit Obligation:
Discount rates	4.44	%		11.37	%	(2)	4.04	%		10.47	%	(2)
Rates of compensation increase	3.34	%	(1)	6.32	%		3.94	%	(1)	6.41	%
Periodic Benefit Cost:
Discount rate	4.04	%		10.47	%		4.89	%		10.80	%
Expected long-term rate of return on plan assets	6.67	%		9.77	%		6.92	%		10.44	%
Rate of compensation increase	3.94	%	(1)	6.41	%		3.94	%	(1)	6.44	%

⁽¹⁾ A U.S. subsidiary of the Company has defined benefit obligations of $6 million and $748 million as of December 31, 2015 and 2014, respectively, for which salary bands, rather than rates of compensation increases, are used to determine future benefit costs. Rates of compensation increases in the table above do not include amounts related to these specific defined benefit plans. A plan with a defined benefit obligation of $742 million at December 31, 2014 and which used salary bands at that date is using a rate of compensation increase as at December 31, 2015. The rate of compensation increase for this plan is included in the weighted average in the above table for calculating the benefit obligation as at December 31, 2015, but is not included in the weighted average for calculating the benefit obligation as at December 31, 2014 or the periodic benefit cost for 2014 or 2015.

⁽²⁾  Includes an inflation factor that is used to calculate future periodic benefit cost, but is not used to calculate the benefit obligation.

Impact Of One Percent Change In Assumptions

The impact on pension expense from a one percentage point change in these assumptions is shown in the table below (in millions):

Increase of 1% in the discount rate		$	(32	)
Decrease of 1% in the discount rate		27
Increase of 1% in the long-term rate of return on plan assets		(36		)
Decrease of 1% in the long-term rate of return on plan assets		36

Schedule of Net Benefit Costs

The following table summarizes the components of the net periodic benefit cost in millions, both domestic and foreign, for the years indicated:

December 31,		2015								2014								2013
Components of Net Periodic Benefit Cost:		U.S.				Foreign				U.S.				Foreign				U.S.				Foreign
Service cost		$	16			$	15			$	14			$	16			$	16			$	26
Interest cost		48				351				50				489				46				515
Expected return on plan assets		(70		)		(247		)		(67		)		(362		)		(64		)		(484		)
Amortization of prior service cost		7				—				6				(1		)		5				—
Amortization of net loss		20				28				13				37				23				77
Settlement gain recognized		—				—				—				1				—				—
Total pension cost		$	21			$	147			$	16			$	180			$	26			$	134

Schedule of Net Periodic Benefit Cost Not yet Recognized

The following table summarizes in millions the amounts reflected in AOCL including AOCL attributable to noncontrolling interests, on the Consolidated Balance Sheet as of December 31, 2015, that have not yet been recognized as components of net periodic benefit cost and amounts expected to be reclassified to earnings in the next fiscal year:

December 31, 2015	Accumulated Other Comprehensive Income (Loss)								Amounts expected to be reclassified to earnings in next fiscal year
	U.S.				Foreign				U.S.				Foreign
Prior service cost	$	—			$	(5	)		$	—			$	—
Unrecognized net actuarial gain (loss)	(6		)		(1,092		)		—				(18		)
Total	$	(6	)		$	(1,097	)		$	—			$	(18	)

Target / Actual Allocation Of Pension Plan Asset

The following table summarizes the Company's target allocation for 2015 and pension plan asset allocation, both domestic and foreign, as of the periods indicated:

						Percentage of Plan Assets as of December 31,
	Target Allocations					2015						2014
Asset Category	U.S.			Foreign		U.S.			Foreign			U.S.			Foreign
Equity securities	46	%		15% -29%		44.76	%		13.23	%		44.02	%		16.28	%
Debt securities	50	%		60% - 85%		50.05	%		81.10	%		50.90	%		78.85	%
Real estate	2	%		0% - 3%		2.94	%		3.24	%		2.45	%		3.15	%
Other	2	%		0% - 5%		2.25	%		2.43	%		2.63	%		1.72	%
Total pension assets						100.00	%		100.00	%		100.00	%		100.00	%

Schedule of Allocation of Plan Assets

The asset allocation is reviewed periodically to determine a suitable asset allocation which seeks to manage risk through portfolio diversification and takes into account, among other possible factors, the above-stated objectives, in conjunction with current funding levels, cash flow conditions and economic and industry trends. The following table summarizes the Company's U.S. plan assets by category of investment and level within the fair value hierarchy in millions as of the periods indicated:

		December 31, 2015																December 31, 2014
U.S. Plans		Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3				Total
Equity securities —	Mutual funds	457				—				—				457				467				—				—				467
Debt securities —	Government debt securities	53				—				—				53				67				—				—				67
	Mutual funds(1)	458				—				—				458				473				—				—				473
Real Estate —	Real Estate	—				30				—				30				—				26				—				26
Other —	Cash and cash equivalents	—				—				—				—				4				—				—				4
	Other investments	—				23				—				23				—				24				—				24
	Total plan assets	$	968			$	53			$	—			$	1,021			$	1,011			$	50			$	—			$	1,061

⁽¹⁾ Mutual funds categorized as debt securities consist of mutual funds for which debt securities are the primary underlying investment.

Fair Value Of Plan Assets By Category / Level (Foreign)

The investment strategy of the foreign plans seeks to maximize return on investment while minimizing risk. The assumed asset allocation has less exposure to equities in order to closely match market conditions and near term forecasts. The following table summarizes the Company's foreign plan assets by category of investment and level within the fair value hierarchy in millions as of the periods indicated:

		December 31, 2015																December 31, 2014
Foreign Plans		Level 1				Level 2				Level 3				Total				Level 1				Level 2				Level 3				Total
Equity securities —	Common stock	$	9			$	—			$	—			$	9			$	21			$	—			$	—			$	21
	Mutual funds	167				—				—				167				274				—				—				274
	Private equity(1)	—				—				126				126				—				—				237				237
Debt securities —	Certificates of deposit	—				2				—				2				—				3				—				3
	Unsecured debentures	—				5				—				5				—				10				—				10
	Government debt securities	11				79				—				90				12				98				—				110
	Mutual funds(2)	218				1,535				—				1,753				215				2,236				—				2,451
	Other debt securities	—				2				—				2				—				6				—				6
Real estate —	Real estate(1)	—				—				74				74				—				—				103				103
Other —	Cash and cash equivalents	—				—				—				—				1				—				—				1
	Participant loans(3)	—				—				37				37				—				—				52				52
	Other assets	16				—				3				19				—				—				4				4
	Total plan assets	$	421			$	1,623			$	240			$	2,284			$	523			$	2,353			$	396			$	3,272

⁽¹⁾  Plan assets of our Brazilian subsidiaries are invested in private equities and commercial real estate through the plan administrator in Brazil. The fair value of these assets is determined using the income approach through annual appraisals based on a discounted cash flow analysis.

⁽²⁾  Mutual funds categorized as debt securities consist of mutual funds for which debt securities are the primary underlying investment.

⁽³⁾  Loans to participants are stated at cost, which approximates fair value.

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

The following table presents a reconciliation of all plan assets measured at fair value using significant unobservable inputs (Level 3) in millions for the periods indicated:

December 31,		2015				2014
Balance at January 1		$	396			$	530
Actual return on plan assets:
Returns relating to assets still held at reporting date		(36		)		(87		)
Purchases, sales and settlements, net		—				1
Transfers of (assets) liabilities into Level 3		—				5
Change due to exchange rate changes		(120		)		(53		)
Balance at December 31		$	240			$	396

Scheduled Cash Flows For Employer Contributions And Expected Future Benefit Payments

The following table summarizes the estimated cash flows for U.S. and foreign expected employer contributions and expected future benefit payments, both domestic and foreign in millions:

		U.S.				Foreign
Expected employer contribution in 2016		$	22			$	100
Expected benefit payments for fiscal year ending:
2016		65				268
2017		67				277
2018		69				289
2019		71				299
2020		73				309
2021 - 2025		380				1,686

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