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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Retirement Benefits [Abstract]

Schedule of combined funded status of the pension plans and their reconciliation with the related amounts recognized in balance sheet

The following table sets forth the combined funded status of the Pension Plans and their reconciliation to the related amounts recognized in our Consolidated Financial Statements at our December 31, 2020 and 2019 measurement dates:

						December 31,
						2020						2019
Change in benefit obligation:
Benefit obligation at beginning of year						$	154					$	125
Service cost						3						2
Interest cost						4						4
Participant contributions						1						1
Actuarial loss						17						21
Benefits paid						(4)						(3)
Other, principally foreign exchange						5						4
Benefit obligation at end of year						$	180					$	154
Change in plan assets:
Fair value of plan assets at beginning of year						$	129					$	107
Actual gain on plan assets						16						18
Employer contributions						4						4
Participant contributions						1						1
Benefits paid						(5)						(3)
Other, principally foreign exchange						3						2
Fair value of assets at end of year						$	148					$	129
Amounts recognized in the consolidated balance sheets:
Funded status (current)						$	—					$	—
Funded status (non-current)						(32)						(25)
Accumulated other comprehensive loss:
Unrecognized actuarial loss						40						34
Unrecognized prior service cost						(2)						—
Deferred taxes						—						(1)
Net amount recognized						$	6					$	8

Schedule of components of net periodic pension cost

The following table presents the components of our net periodic pension benefit cost:

						Year Ended December 31,
						2020						2019						2018
Components of net periodic pension benefit cost:
Service cost						$	3					$	2					$	3
Interest cost						4						4						4
Expected return on plan assets						(6)						(5)						(6)
Amortization of actuarial losses						2						1						1
Net periodic cost						$	3					$	2					$	2

Schedule of amounts included in accumulated other comprehensive loss expected to be recognized as components of net periodic pension cost during the next fiscal year

The amounts included in accumulated other comprehensive loss as of December 31, 2020 are expected to be recognized as components of net periodic pension benefit cost during the fiscal year ending December 31, 2021 are presented below:

Unrecognized loss			$	2
Unrecognized prior service cost			(1)
Net amount expected to be recognized			$	1

Schedule of fair value of defined benefit pension plan assets by asset category

The fair value of the plan assets for the Pension Plans at December 31, 2020 by asset category is presented below:

Asset Category						Market Value at 12/31/2020						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Equity securities(a)						$	58					$	41					$	17					$	—
Global return fund(a)						32						—						32						—
Corporate bonds(a)						25						—						25						—
Government bonds						5						—						5						—
Real estate						9						—						—						9
LDI (Liability Driven Investment)						17						—						17						—
Cash and cash equivalents(b)						2						2						—						—
Total pension assets						$	148					$	43					$	96					$	9
(a) The assets are invested through managed funds that are valued using inputs derived principally from quoted prices in active markets for the underlying assets in the fund. (b) The carrying value of cash and cash equivalents approximates fair value because of the short-term maturity of these instruments.

The fair value of the plan assets for both of the Pension Plans at December 31, 2019 by asset category is presented below:

Asset Category						Market Value at 12/31/2019						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Equity securities(a)						$	62					$	35					$	27					$	—
Global return fund(a)						19						—						19						—
Corporate bonds(a)						13						—						13						—
Government bonds						12						—						12						—
Real estate						5						—						—						5
LDI (Liability Driven Investment)						14						—						14						—
Cash and cash equivalents(b)						4						4						—						—
Total pension assets						$	129					$	39					$	85					$	5
(a) The assets are invested through managed funds that are valued using inputs derived principally from quoted prices in active markets for the underlying assets in the fund. (b) The carrying value of cash and cash equivalents approximates fair value because of the short-term maturity of these instruments.

Schedule of changes in fair value of pension assets valued using significant unobservable inputs (Level 3)

The change in fair value of the Pension Plan assets valued using significant unobservable inputs (Level 3) is presented below:

			2020						2019
Significant unobservable inputs (Level 3), beginning of period			$	5					$	4
Unrealized gain on asset still held			4						1
Significant unobservable inputs (Level 3), end of period			$	9					$	5

Schedule of weighted-average actuarial assumptions used to determine the benefit obligation and net periodic benefit cost

The table below presents the weighted-average actuarial assumptions used to determine the benefit obligation and net periodic benefit cost for the Pension Plans.

						U.K. Plan																		Canadian Plan
						2020						2019						2018						2020						2019						2018
Discount rates:
Benefit obligation						1.4		%				2.0		%				2.9		%				3.1		%				3.1		%				3.9		%
Net periodic pension cost						1.4		%				2.0		%				2.6		%				3.1		%				3.9		%				3.6		%
Rate of compensation increase						1.0		%				1.0		%				1.0		%				3.0		%				3.0		%				1.0		%
Expected return on assets						3.6		%				5.1		%				5.0		%				5.2		%				5.5		%				5.7		%

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Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

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Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period.

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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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