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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]  
Change in Benefit Obligation, Plan Assets and Funded Status of Defined Benefit Pension Plans

The change in benefit obligation, plan assets and the funded status of the defined benefit pension plans in the United States, United Kingdom, Norway, Germany and the Netherlands and defined postretirement plans in the United States, using a measurement date of December 31, 2014 and 2013, is as follows (in millions):

 

     Pension benefits      Postretirement  

At year end

    2014      2013      2014      2013  

Benefit obligation at beginning of year

    $ 846       $ 655       $ 45       $ 30   

Service cost

      8         7         —           1   

Interest cost

      35         31         2         2   

Actuarial loss (gain)

      116         (10 )       15         (12 ) 

Benefits paid

      (43 )       (38 )       (4 )       (4 ) 

Participants contributions

      —           —           1         —     

Exchange rate loss (gain)

      (51 )       7         —           —     

Acquisitions (disposals)

      (118 )       194         (6 )       28   

Curtailments

      (1 )       —           —           —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Benefit obligation at end of year

 $ 792    $ 846    $ 53    $ 45   
  

 

 

     

 

 

     

 

 

     

 

 

  

Fair value of plan assets at beginning of year

 $ 706    $ 517    $ —      $ —     

Actual return

   68      72      —        —     

Benefits paid

   (43 )    (38 )    (4 )    (4 ) 

Company contributions

   21      28      3      4   

Participants contributions

   —        —        1      —     

Exchange rate gain (loss)

   (31 )    4      —        —     

Acquisitions (disposals)

   (61 )    123      —        —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Fair value of plan assets at end of year

 $ 660    $ 706    $ —      $ —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Funded status

 $ (132 )  $ (140 )  $ (53 )  $ (45 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Accumulated benefit obligation at end of year

 $ 764    $ 811   
  

 

 

     

 

 

  
Assumption Rates Used for Benefit Obligations

The assumption rates used for benefit obligations are as follows:

 

     Years Ended December 31,
     2014    2013

Discount rate:

      

United States plan

    3.40% - 3.90%    4.65%

International plans

    2.10% - 3.60%    3.50% - 4.40%

Salary increase:

      

United States plan

    N/A    N/A

International plans

    2.00% - 4.20%    2.00% - 4.40%
Assumption Rates Used for Net Periodic Benefit Costs

The assumption rates used for net periodic benefit costs are as follows:

 

     Years Ended December 31,
     2014    2013    2012

Discount rate:

         

United States plan

    3.99% - 4.67%    3.80%    4.58%

International plans

    3.50% - 4.40%    3.46% - 4.40%    4.50% - 5.60%

Salary increase:

         

United States plan

    N/A    N/A    N/A

International plans

    2.00% - 4.40%    2.00% - 3.53%    2.00% - 4.00%

Expected return on assets:

         

United States plan

    6.50%    6.30%    6.33%

International plans

    3.50% - 5.53%    3.50% - 5.82%    4.50% - 6.51%
Plan's Assets Carried at Fair Value

The following table sets forth by level, within the fair value hierarchy, the Plan’s assets carried at fair value (in millions):

 

     Fair Value Measurements  
     Total      Level 1      Level 2      Level 3  

December 31, 2013:

            

Equity securities

    $ 296       $ —         $ 296       $ —     

Bonds

      172         —           172         —     

Other (insurance contracts)

      238         —           131         107   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Fair Value Measurements

 $ 706    $ —      $ 599    $ 107   
  

 

 

     

 

 

     

 

 

     

 

 

  

December 31, 2014:

Equity securities

 $ 116    $ —      $ 116    $ —     

Bonds

   323      —        323      —     

Other (insurance contracts)

   221      —        113      108   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Fair Value Measurements

 $ 660    $ —      $ 552    $ 108   
  

 

 

     

 

 

     

 

 

     

 

 

  
Summary of Changes in Fair Value of Plan's Level Three Assets

The following table sets forth a summary of changes in the fair value of the Plan’s Level 3 assets (in millions):

 

     Level 3
Plan
Assets		  

Balance at December 31, 2012

    $ 100   
  

 

 

  

Actual return on plan assets still held at reporting date

   5   

Purchases, sales and settlements

   5   

Currency translation adjustments

   (3 ) 
  

 

 

  

Balance at December 31, 2013

 $ 107   
  

 

 

  

Actual return on plan assets still held at reporting date

   14   

Purchases, sales and settlements

   5   

Currency translation adjustments

   (18 ) 
  

 

 

  

Balance at December 31, 2014

 $ 108