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Long-term Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2019

General Discussion Of Pension And Other Postretirement Benefits [Abstract]

Schedules of Net Periodic Pension Income

The following table sets forth the Company’s net periodic pension income and amounts recognized in other comprehensive income (loss) for the years ended December 31, 2019, 2018, and 2017.

		Year Ended December 31,
		2019				2018				2017
Net periodic pension cost (income):
Service cost		$	13			$	14			$	16
Interest cost			17				16				16
Expected return on plan assets			(48	)			(58	)			(75	)
Amortization of prior service gain			(2	)			(2	)			(2	)
Amortization of actuarial loss			18				12				22
Settlement loss			383				—				1
Net periodic pension cost (income)			381				(18	)			(22	)
Changes in plan assets and benefit obligations recognized in other comprehensive income:
Net loss (gain)			144				115				(24	)
Amortization of actuarial loss			(18	)			(16	)			(24	)
Prior service gain			(5	)			—				—
Amortization of prior service gain			2				2				2
Settlement loss			(383	)			—				—
Effect of foreign exchange rates			(7	)			(8	)			38
(Benefit) cost recognized in other comprehensive income			(267	)			93				(8	)
Total net periodic pension income and cost (benefit) recognized in other comprehensive income		$	114			$	75			$	(30	)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

The following table sets forth the pre-tax amounts recognized in accumulated other comprehensive loss for the years ended December 31, 2019, 2018, and 2017.

		Year Ended December 31,
		2019				2018				2017
Net loss		$	151			$	419			$	329
Prior service credit			(14	)			(10	)			(11	)
Total amount recognized in accumulated other comprehensive loss		$	137			$	409			$	318

Summary of Benefit Obligations and Fair Value of Plan Assets and Funded Status of Plan

The following table sets forth summarized information on the Company’s pension plans at December 31, 2019 and 2018.

		December 31,
		2019				2018
Change in benefit obligation:
Benefit obligation at beginning of year		$	1,168			$	1,177
Service cost			13				14
Interest cost			17				16
Plan participants’ contributions			2				2
Actuarial loss			313				45
Benefits paid			(37	)			(46	)
Plan amendments			(5	)			—
Settlements and transfers			(945	)			2
Currency translation			(19	)			(42	)
Benefit obligation at end of year			507				1,168
Change in plan assets:
Fair value of plan assets at beginning of year			1,268				1,363
Actual return (loss) on plan assets			217				(17	)
Employer contributions			19				15
Plan participants’ contributions			2				2
Benefits paid			(37	)			(46	)
Settlements and transfers			(945	)			2
Currency translation			(24	)			(51	)
Fair value of plan assets at end of year			500				1,268
Total funded status at end of year		$	(7	)		$	100

Schedule of Amounts Recognized in the Consolidated Balance Sheet

The following table sets forth the net amounts recognized in the Company’s consolidated balance sheets at December 31, 2019 and 2018.

		December 31,
		2019				2018
Non-current assets		$	59			$	174
Current liabilities			(2	)			(1	)
Non-current liabilities			(64	)			(73	)
Total net amount recognized		$	(7	)		$	100

Schedule of Projected Benefit Obligations in Excess of Fair Value of Plan Assets

The following tables set forth information related to the Company’s pension plans with projected and accumulated benefit obligations in excess of the fair value of plan assets at December 31, 2019 and 2018.

		December 31,
Pension plans with projected benefit obligation in excess of plan assets		2019				2018
Projected benefit obligation		$	178			$	177
Accumulated benefit obligation			150				149
Fair value of plan assets			111				103

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

The following tables set forth information related to the Company’s pension plans with projected and accumulated benefit obligations in excess of the fair value of plan assets at December 31, 2019 and 2018.

		December 31,
Pension plans with accumulated benefit obligation in excess of plan assets		2019				2018
Projected benefit obligation		$	178			$	177
Accumulated benefit obligation			150				149
Fair value of plan assets			111				103

Schedule of Assumptions Used

The following tables set forth the assumptions that have been used to determine the Company’s benefit obligations and net benefit cost at December 31, 2019 and 2018.

		December 31,
Weighted-average assumptions used to determine benefit obligations		2019				2018
Discount rate			1.4	%			2.0	%
Rate of compensation increase (1)			2.6	%			2.5	%

(1) The rate of compensation increase represents the single annual effective salary increase that an average plan participant would receive during the participant’s entire career at Chemours. 

		December 31,
Weighted-average assumptions used to determine net benefit cost		2019				2018
Discount rate			2.0	%			1.9	%
Rate of compensation increase (1)			2.5	%			2.5	%
Expected return on plan assets			4.1	%			4.1	%

(1) The rate of compensation increase represents the single annual effective salary increase that an average plan participant would receive during the participant’s entire career at Chemours.

Schedule of Allocation of Plan Assets

The following table sets forth the weighted-average allocation for the Company’s pension plan assets at December 31, 2019 and 2018.

		December 31,
		2019				2018
Cash and cash equivalents			8	%			5	%
U.S. and non-U.S. equity securities			52	%			45	%
Fixed income securities			40	%			50	%
Total weighted-average allocation			100	%			100	%

The following tables set forth the fair values of the Company’s pension assets by level within the fair value hierarchy at December 31, 2019 and 2018.

		Fair Value Measurements at December 31, 2019
		Total				Level 1				Level 2
Asset category:
Debt - government issued		$	150			$	9			$	141
Debt - corporate issued			51				47				4
U.S. and non-U.S. equities			102				101				1
Mututal funds			135				—				135
Derivatives - asset position			28				—				28
Derivatives - liability position			—				—				—
Cash and cash equivalents			41				41				—
Other			2				2				—
Total pension assets before pension receivables			509			$	200			$	309
Pension trust payables, net (1)			(9	)
Total pension assets		$	500

(1) Payables are primarily for investments purchased and received but not yet paid.

		Fair Value Measurements at December 31, 2018
		Total				Level 1				Level 2
Asset category:
Debt - government issued		$	487			$	3			$	484
Debt - corporate issued			130				33				97
U.S. and non-U.S. equities			264				263				1
Mututal funds			296				—				296
Derivatives - asset position			9				—				9
Derivatives - liability position			(5	)			—				(5	)
Cash and cash equivalents			67				67				—
Other			12				8				4
Total pension assets before pension receivables			1,260			$	374			$	886
Pension trust receivables, net (1)			8
Total pension assets		$	1,268

(1) Receivables are primarily for investment income earned but not yet received.

Schedule of Expected Benefit Payments

The following table sets forth the benefit payments that are expected to be paid by the plans over the next five years and the five years thereafter as of December 31, 2019.

		Year Ended
		December 31,
2020		$	13
2021			9
2022			10
2023			13
2024			15
2025 to 2029			87

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