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PENSION AND POSTRETIREMENT EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Schedule of amounts recognized in accumulated other comprehensive loss

The amounts included in Accumulated other comprehensive loss as of December 31, 2019, and 2018 were as follows:

		Pension Benefit Plans																U.S. Postretirement Benefit Plan
		U.S. Plan								Non-U.S. Plans
(in millions)		2019				2018				2019				2018				2019				2018
Unrecognized actuarial losses		$	(20	)		$	(31	)		$	(65	)		$	(50	)		$	(2	)		$	(1	)
Unrecognized prior service credits		$	—			$	—			$	26			$	27			$	14			$	17

Components of net periodic benefit cost

The following table provides the components of net periodic (benefit) cost for the Company’s defined benefit pension plans and postretirement benefit plan in 2019, 2018 and 2017:

		Pension Benefit Plans																								U.S. Postretirement Benefit Plan
		U.S. Plan												Non-U.S. Plans
(in millions)		2019				2018				2017				2019				2018				2017				2019				2018				2017
Service cost		$	2			$	2			$	2			$	3			$	3			$	3			$	—			$	—			$	—
Interest cost		8				7				8				5				5				5				1				1				2
Expected return on plan assets		(13		)		(15		)		(13		)		(5		)		(5		)		(5		)		—				—				—
Amortization of net loss		—				—				—				1				1				2				—				—				—
Amortization of prior service credit		—				—				—				(1		)		(1		)		(1		)		(2		)		(2		)		(3		)
Other		—				—				—				1				—				—				—				—				—
Net periodic (benefit) cost		$	(3	)		$	(6	)		$	(3	)		$	4			$	3			$	4			$	(1	)		$	(1	)		$	(1	)

Components of the change in projected benefit obligations, change in plan assets and funded status

The table below presents components of the change in projected benefit obligation, change in plan assets and funded status for 2019 and 2018:

		Pension Benefit Plans																U.S. Postretirement Benefit Plan
		U.S. Plan								Non-U.S. Plans
(in millions)		2019				2018				2019				2018				2019				2018
Change in Projected Benefit Obligation
Projected benefit obligation, beginning of year		$	214			$	234			$	235			$	254			$	41			$	48
Service cost		2				2				3				3				—				—
Interest cost		8				7				5				5				1				1
Employee contributions		—				—				—				—				1				1
Settlements		—				—				(2		)		(2		)		—				—
Benefits paid		(15		)		(16		)		(8		)		(5		)		(4		)		(5		)
Actuarial losses (gains)		18				(13		)		30				(10		)		2				(4		)
Currency translation adjustments		—				—				(4		)		(10		)		—				—
Projected benefit obligation, end of year		227				214				259				235				41				41
Change in Plan Assets
Fair value of plan assets, beginning of year		187				206				147				155				—				—
Actual return on plan assets		42				(11		)		17				(2		)		—				—
Employee contributions		—				—				—				—				1				1
Company contributions		2				8				10				7				3				4
Settlements		—				—				(2		)		(2		)		—				—
Benefits paid		(15		)		(16		)		(8		)		(5		)		(4		)		(5		)
Currency translation adjustments		—				—				(3		)		(6		)		—				—
Fair value of plan assets, end of year		216				187				161				147				—				—
Funded Status at end of year		$	(11	)		$	(27	)		$	(98	)		$	(88	)		$	(41	)		$	(41	)
Recognized as:
Accrued and other current liabilities		$	—			$	—			$	(2	)		$	(2	)		$	(5	)		$	(5	)
Other non-current liabilities		$	(11	)		$	(27	)		$	(96	)		$	(86	)		$	(36	)		$	(36	)

Schedule of underfunded plans

Information for the underfunded pension benefit plans is as follows:

		U.S. Plan								Non-U.S. Plans
(in millions)		2019				2018				2019				2018
Projected benefit obligation		$	227			$	214			$	259			$	235
Accumulated benefit obligation		227				214				251				225
Fair value of plan assets		216				187				161				147

Future benefit payments for the pension benefit plans

Future benefit payments over the next 10 years for the pension benefit plans and the postretirement benefit plan, which reflect expected future service, as appropriate, are expected to be paid as follows:

(in millions)		Pension Benefit Plans								U.S. Postretirement  Benefit  Plan
		U.S. Plan				Non-U.S. Plans
2020		$	14			$	5			$	5
2021		18				6				4
2022		18				6				4
2023		17				6				4
2024		16				6				3
2025-2029		77				33				13

Weighted-average assumptions used to determine net periodic benefit costs and benefit obligations

The weighted-average assumptions used to determine net periodic benefit costs and benefit obligations for 2019, 2018 and 2017 were as follows:

		Pension Benefit Plans									U.S. Postretirement Benefit Plan
		2019			2018			2017			2019			2018			2017
For Determining Net Periodic (Benefit) Cost
U.S. Plans:
Discount rate		4.25	%		3.56	%		4.04	%		4.16	%		3.47	%		3.85	%
Expected rate of return on plan assets		7.25	%		7.50	%		7.50	%		—			—			—
Rate of compensation increase		—			—			—			—			—			—
Non-U.S. Plans:
Discount rate		2.39	%		2.29	%		2.08	%
Expected rate of return on plan assets		3.46	%		3.66	%		3.84	%
Rate of compensation increase		2.89	%		2.87	%		2.64	%

		Pension Benefit Plans						U.S. Postretirement Benefit Plan
														2019			2018			2019			2018
For Determining Benefit Obligation
U.S. Plans:
Discount rate		3.16	%		4.25	%		3.04	%		4.16	%
Rate of compensation increase		—			—			—			—
Non-U.S. Plans:
Discount rate		1.68	%		2.39	%
Rate of compensation increase		3.05	%		2.89	%

Actual asset allocations

The following presents the actual asset allocation as of December 31, 2019 and 2018:

		2019			2018
U.S. Plan
Equity securities		55	%		52	%
Fixed income securities		44	%		47	%
Other		1	%		1	%
Non-U.S. Plans
Cash and cash equivalents		6	%		5	%
Equity securities		25	%		20	%
Fixed income securities		64	%		69	%
Other		6	%		6	%

Fair value of pension and postretirement benefit plan assets assumed in connection with the Acquisition

The table below presents total plan assets by investment category as of December 31, 2019 and 2018 and the classification of each investment category within the fair value hierarchy with respect to the inputs used to measure fair value. There were no transfers between Level 1 and Level 2 during 2019 and 2018.

		Pension Benefit Plans - U.S. Plans
		December 31, 2019																December 31, 2018
(in millions)		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
Cash and cash equivalents		$	1			$	—			$	—			$	1			$	2			$	—			$	—			$	2
Commingled funds:
Equity securities:
U.S. broad market		—				64				—				64				—				51				—				51
Emerging markets		—				15				—				15				—				13				—				13
Worldwide developed markets		—				26				—				26				—				21				—				21
Other assets		—				15				—				15				—				13				—				13
Fixed income securities:
Investment grade		—				95				—				95				—				87				—				87
		$	1			$	215			$	—			$	216			$	2			$	185			$	—			$	187

		Pension Benefit Plans - Non-U.S. Plans
		December 31, 2019																December 31, 2018
(in millions)		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
Cash equivalents		$	—			$	9			$	—			$	9			$	—			$	7			$	—			$	7
Commingled funds:
Equity securities:
Emerging markets		—				2				—				2				—				1				—				1
Worldwide developed markets		—				38				—				38				—				29				—				29
Fixed income securities:
Investment grade		—				9				—				9				—				9				—				9
Global high yield		—				3				—				3				—				2				—				2
Government bond funds		1				90				—				91				—				90				—				90
Other assets		—				8				1				9				—				9				—				9
		$	1			$	159			$	1			$	161			$	—			$	147			$	—			$	147

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