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Pension Benefit Plans and Other Postretirement Benefits (Tables)
12 Months Ended
Dec. 31, 2019
Pension Benefit Plans  
Defined Benefit Plans and Other Postretirement Benefit Plans  
Changes in the benefit obligations

U.S.

Non-U.S.

 

    

2019

    

2018

    

2019

    

2018

 

Obligations at beginning of year

$

1,413

$

1,650

$

1,022

$

1,148

Change in benefit obligations:

Service cost

 

12

 

14

 

12

 

15

Interest cost

 

58

 

59

 

33

 

32

Actuarial (gain) loss, including the effect of change in discount rates

144

(108)

116

(23)

Settlements

(35)

(114)

 

(44)

(35)

Acquisitions

 

30

Participant contributions

 

1

 

2

Benefit payments

 

(87)

 

(91)

 

(37)

 

(51)

Other

3

(6)

(2)

Foreign currency translation

 

23

 

(64)

Net change in benefit obligations

 

92

 

(237)

 

128

 

(126)

Obligations at end of year

$

1,505

$

1,413

$

1,150

$

1,022

Changes in the fair value of the pension plans' assets

U.S.

Non-U.S.

 

    

2019

    

2018

    

2019

    

2018

 

Fair value at beginning of year

$

1,094

$

1,394

$

843

$

975

Change in fair value:

Actual gain (loss) on plan assets

 

235

 

(96)

 

110

 

(15)

Benefit payments

 

(87)

 

(91)

 

(37)

 

(51)

Employer contributions

 

8

 

1

 

25

 

33

Participant contributions

 

1

 

2

Settlements

(35)

(114)

(44)

(35)

Acquisitions

30

Foreign currency translation

 

26

 

(58)

Other

 

(7)

 

(8)

Net change in fair value of assets

 

121

 

(300)

 

104

 

(132)

Fair value at end of year

$

1,215

$

1,094

$

947

$

843

Funded status

U.S.

Non-U.S.

 

2019

2018

2019

2018

 

Plan assets at fair value

    

$

1,215

    

$

1,094

    

$

947

    

$

843

Projected benefit obligations

 

1,505

 

1,413

 

1,150

 

1,022

Plan assets less than projected benefit obligations

 

(290)

 

(319)

 

(203)

 

(179)

Items not yet recognized in pension expense:

Actuarial loss

 

722

 

785

 

327

 

285

Prior service cost (credit)

 

 

 

5

 

4

 

722

 

785

 

332

 

289

Net amount recognized

$

432

$

466

$

129

$

110

Net amount recognized included in the Consolidated Balance Sheets

U.S.

Non-U.S.

 

    

2019

    

2018

    

2019

    

2018

 

Pension assets

$

$

$

42

$

44

Current pension liability, included with other accrued liabilities

 

(1)

 

(3)

 

(6)

 

(5)

Pension benefits

 

(289)

 

(316)

 

(239)

 

(218)

Accumulated other comprehensive loss

 

722

 

785

 

332

 

289

Net amount recognized

$

432

$

466

$

129

$

110

Changes in plan assets and/or benefit obligations recognized in accumulated other comprehensive income

U.S.

Non-U.S.

 

    

2019

    

2018

    

2019

    

2018

 

Current year actuarial (gain) loss

$

(6)

$

86

$

54

$

43

Amortization of actuarial loss

 

(41)

 

(51)

 

(10)

 

(11)

Settlement

(22)

(61)

(9)

(13)

Other

5

(1)

 

1

 

6

 

(64)

 

(27)

 

36

 

25

Translation

 

8

 

(18)

Change in accumulated other comprehensive income

$

(64)

$

(27)

$

44

$

7

Components of net periodic pension cost

U.S.

Non-U.S.

 

2019

2018

2017

2019

2018

2017

 

Service cost

    

$

12

    

$

14

    

$

14

    

$

12

    

$

15

    

$

15

Interest cost

 

58

 

59

 

78

 

33

 

32

 

40

Expected asset return

 

(86)

 

(98)

 

(128)

 

(48)

 

(52)

 

(63)

Amortization:

Actuarial loss

 

41

 

51

 

57

 

10

 

11

 

16

Net expense

$

25

$

26

$

21

$

7

$

6

$

8

Amounts amortized from accumulated other comprehensive income during 2015

    

U.S.

    

Non-U.S.

 

Actuarial loss

$

56

$

13

Information for plans with projected and accumulated benefit obligations in excess of the fair value of plan assets

Projected Benefit Obligation Exceeds 

Accumulated Benefit Obligation Exceeds

 

the Fair Value of Plan Assets

the Fair Value of Plan Assets

 

U.S.

Non-U.S.

U.S.

Non-U.S.

 

    

2019

2018

    

2019

2018

    

2019

2018

    

2019

2018

Projected benefit obligations

$

1,505

$

1,413

$

952

$

815

$

1,505

$

1,413

$

952

$

815

Accumulated benefit obligation

 

1,505

 

1,412

 

927

 

793

 

1,505

 

1,412

 

927

 

793

Fair value of plan assets

 

1,215

 

1,094

 

706

 

591

 

1,215

 

1,094

 

706

 

591

Weighted average assumptions used to determine benefit obligations and net periodic pension costs for pension plans, and accumulated postretirement benefit obligation and net postretirement benefit cost for postretirement plans

The weighted average assumptions used to determine benefit obligations are as follows:

U.S.

Non-U.S.

 

    

2019

    

2018

    

2019

    

2018

 

Discount rate

 

3.39

%  

4.36

%  

2.53

%  

3.01

%

Rate of compensation increase

 

N/A

N/A

2.89

%  

2.75

%

The weighted average assumptions used to determine net periodic pension costs are as follows:

U.S.

Non-U.S.

 

2019

2018

2017

2019

2018

2017

 

Discount rate

    

4.36

%  

3.69

%  

4.17

%  

3.01

%  

2.76

%  

2.94

%

Rate of compensation increase

 

N/A

N/A

N/A

%  

2.76

%  

2.78

%  

2.90

%

Expected long-term rate of return on assets

 

7.25

%  

7.25

%  

7.50

%  

5.50

%  

5.52

%  

6.32

%

Fair value of defined benefit pension plan assets and target allocations

2019

2018

    

Level 1

    

Level 2

    

Level 3

    

Total

    

Level 1

    

Level 2

    

Level 3

    

Total

 

Cash and cash equivalents

$

8

$

$

$

8

$

9

$

$

$

9

Equity securities

Debt securities

55

3

58

34

7

41

Real estate

Other

23

23

30

30

Total

$

63

$

26

$

$

43

$

37

$

Investments measured at net asset value

 

$

858

 

$

763

Total non-U.S. assets at fair value

$

947

$

843

Estimated future benefit payments, reflecting expected future service, as appropriate, expected to be paid

Year(s)

    

U.S.

    

Non-U.S.

2020

$

97

$

55

2021

 

96

 

53

2022

 

96

 

57

2023

 

94

 

59

2024

 

94

 

59

2025-2029

 

448

 

313

Other Postretirement Benefits  
Defined Benefit Plans and Other Postretirement Benefit Plans  
Changes in the benefit obligations

U.S.

Non-U.S.

 

    

2019

    

2018

    

2019

    

2018

 

Obligations at beginning of year

$

74

$

89

$

80

$

89

Change in benefit obligations:

Service cost

 

 

 

1

 

1

Interest cost

 

4

 

3

 

3

 

3

Actuarial (gain) loss, including the effect of changing discount rates

 

3

 

(9)

 

(15)

 

(4)

Benefit payments

 

(9)

 

(9)

 

(2)

 

(2)

Foreign currency translation

 

4

 

(7)

Other

Net change in benefit obligations

 

(2)

 

(15)

 

(9)

 

(9)

Obligations at end of year

$

72

$

74

$

71

$

80

Funded status

U.S.

Non-U.S.

 

    

2019

    

2018

    

2019

    

2018

 

Postretirement benefit obligations

$

(72)

$

(74)

$

(71)

$

(80)

Items not yet recognized in net postretirement benefit cost:

Actuarial gain (loss)

 

1

 

(8)

 

(1)

 

(2)

Prior service credit

 

8

 

15

 

9

 

7

 

(1)

 

(2)

Net amount recognized

$

(63)

$

(67)

$

(72)

$

(82)

Net amount recognized included in the Consolidated Balance Sheets

U.S.

Non-U.S.

 

    

2019

    

2018

    

2019

    

2018

 

Current nonpension postretirement benefit, included with Other accrued liabilities

$

(5)

$

(6)

$

(3)

$

(3)

Nonpension postretirement benefits

 

(67)

 

(68)

 

(68)

 

(77)

Accumulated other comprehensive income (loss)

 

9

 

7

 

(1)

 

(2)

Net amount recognized

$

(63)

$

(67)

$

(72)

$

(82)

Changes in plan assets and/or benefit obligations recognized in accumulated other comprehensive income

U.S.

Non-U.S.

 

    

2019

    

2018

    

2019

    

2018

 

Current year actuarial (gain) loss

$

3

$

(8)

$

(15)

$

(4)

Amortization of actuarial loss

 

(1)

 

(2)

Amortization of prior service credit

 

8

 

7

$

10

$

(3)

$

(15)

$

(4)

Components of net periodic pension cost

U.S.

Non-U.S.

 

    

2019

    

2018

    

2017

    

2019

    

2018

    

2017

 

Service cost

$

$

$

$

1

$

1

$

1

Interest cost

 

4

 

3

 

4

 

3

 

3

 

3

Amortization:

Actuarial loss

 

1

 

2

 

2

Prior service credit

 

(8)

 

(7)

 

(8)

Net amortization

 

(7)

 

(5)

 

(6)

 

 

 

Net postretirement benefit (income) cost

$

(3)

$

(2)

$

(2)

$

4

$

4

$

4

Amounts amortized from accumulated other comprehensive income during 2015

    

U.S.

    

Non-U.S.

 

Amortization:

Actuarial loss

$

1

$

(1)

Prior service credit

 

(8)

Net amortization

$

(7)

$

(1)

Weighted average assumptions used to determine benefit obligations and net periodic pension costs for pension plans, and accumulated postretirement benefit obligation and net postretirement benefit cost for postretirement plans

U.S.

Non-U.S.

 

    

2019

    

2018

    

2017

    

2019

    

2018

    

2017

 

Accumulated postretirement benefit obligation

 

3.31

%  

4.30

%  

3.61

%  

3.00

%  

3.60

%  

3.35

%  

Net postretirement benefit cost

 

4.30

%  

3.61

%  

4.11

%  

3.60

%  

3.35

%  

3.55

%  

Weighted average assumed health care cost trend rates

U.S.

Non-U.S.

 

    

2019

    

2018

    

2019

    

2018

 

Health care cost trend rate assumed for next year

 

5.80

%  

6.00

%  

5.00

%  

5.00

%  

Rate to which the cost trend rate is assumed to decline (ultimate trend rate)

 

5.00

%  

5.00

%  

5.00

%  

5.00

%  

Year that the rate reaches the ultimate trend rate

 

2025

2025

N/A

N/A

Effects of one-percentage-point change in assumed health care cost trend rates on amount reported for the postretirement benefit plans

U.S.

Non-U.S.

 

1-Percentage-Point

1-Percentage-Point

 

    

Increase

    

Decrease

    

Increase

    

Decrease

 

Effect on total of service and interest cost

$

$

$

1

$

(1)

Effect on accumulated postretirement benefit obligations

3

(2)

 

11

 

(9)

Estimated future benefit payments, reflecting expected future service, as appropriate, expected to be paid

Year(s)

    

U.S.

    

Non-U.S.

 

2020

$

6

$

3

2021

 

6

 

3

2022

 

6

 

3

2023

 

5

 

3

2024

 

5

 

3

2025  -  2029

 

21

 

15