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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]  
Pension and Postemployment Benefit Costs
Pension and postemployment benefit costs for the years ended December 31 were as follows: 
 202020192018
In millionsPensionPostemploymentPensionPostemploymentPensionPostemployment
Service cost$$11 $$11 $$
Interest cost
Expected return on plan assets(2)— (2)— (2)— 
Settlement charge— — — — — 
Curtailment charge— — — — (1)— 
Amortization of actuarial loss
Total costs$10 $19 $$17 $$13 
Accumulated Pension Benefit Obligation The following tables present the changes in benefit obligations, plan assets, funded status and the reconciliation of the funded status to amounts recognized in the consolidated balance sheets and in accumulated other comprehensive income at December 31:
 PensionPostemployment
In millions2020201920202019
Change in benefit obligation
Benefit obligation at January 1$149 $132 $61 $54 
Service cost11 11 
Interest cost
Plan participant contributions— — 
Actuarial loss14 24 12 21 
Benefits paid(1)(10)(24)(26)
Curtailment(5)(1)— — 
Settlement(11)(6)— — 
Plan Amendment— — — 
Currency translation adjustments(1)— — 
Benefit obligation at December 31$164 $149 $64 $61 
Change in plan assets
Fair value of plan assets at January 1$69 $68 $— $— 
Actual return on plan assets10 — — 
Company contributions— — 
Benefits paid(1)(10)— — 
Currency translation adjustments— — — 
Plan participant contribution— — 
Settlements(11)(6)— — 
Fair value of plan assets at December 3172 69 — — 
Funded status (underfunded)$(92)$(80)$(64)$(61)
Amounts Recognized in the Consolidated Balance Sheet
Non-current assets$$$— $— 
Current liabilities(2)(1)(10)(10)
Non-current liabilities(98)(85)(54)(51)
Net amounts recognized$(92)$(80)$(64)$(61)
Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
Unrecognized Net actuarial loss $31 $30 $66 $61 
Unrecognized Prior service cost— — 
Total$31 $30 $71 $63 
The following table presents the accumulated pension benefit obligation at December 31:
In millions20202019
Accumulated pension benefit obligation$153 $137 
The following table presents pension plans with accumulated benefit obligations in excess of plan assets at December 31:
In millions20202019
Projected benefit obligation$132 $119 
Accumulated benefit obligation$123 $109 
Fair value of plan assets
$33 $33 
Pre-Tax Net Changes in Projected Benefit Obligations Recognized in Other Comprehensive Income
The following table presents the pre-tax net changes in projected benefit obligations recognized in other comprehensive income:
 PensionPostemployment
In millions2020201920202019
Actuarial loss arising during the year$$15 $15 $21 
Amortization of loss included in net periodic benefit cost
(2)(1)(7)(5)
Recognition of loss due to curtailment
(5)— — — 
Recognition of loss due to settlement
(2)— — — 
Foreign currency exchange— — — 
Total recognized in other comprehensive income (loss)
$$14 $$16 
Weighted-Average Rates and Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit
The weighted-average rates and assumptions used to determine benefit obligations at December 31, and net periodic benefit cost for the years ended December 31, were as follows: 
 Pension Benefit ObligationsPension Benefit Cost
 20202019202020192018
Discount rate0.9%1.2%1.2%2.2%2.1%
Rate of compensation increase2.8%3.0%3.0%3.4%3.3%
Expected return on plan assetsN/AN/A3.5%3.0%2.8%
Interest crediting rate assumption0.9%0.9%0.9%0.8%N/A
 Postemployment 
Benefit Obligations
Postemployment 
Benefit Cost
 20202019202020192018
Discount rate1.6%1.8%1.8%2.5%2.6%
Rate of compensation increase3.0%3.0%3.0%3.0%3.0%
Involuntary turnover rate3.5%3.0%3.0%2.5%2.3%
Weighted-Average Asset Allocations, by Category The weighted-average asset allocations at December 31, by asset category are as follows: 
Actual Asset Allocation
as of December 31
Target Asset
 20202019Allocation
Equity securities34%34%32%
Debt securities44%43%49%
Insurance (annuity) contracts12%12%12%
Real estate8%10%4%
Other2%1%3%
Total100%100%100%
Pension Plan Assets at Fair Value The following table sets forth by level, within the fair value hierarchy, the pension plan assets at fair value as of December 31, 2020: 
  Fair Value Measurements at Reporting Date Using
Quoted Prices in Active Markets
for Identical
Assets
Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs
In millionsDecember 31, 2020(Level 1)(Level 2)(Level 3)
Money market funds$$— $$— 
Equity funds25 — 25 — 
Bond/fixed-income funds32 — 32 — 
Real estate indirect investments— — 
Insurance contracts— — 
Total assets at fair value$72 $— $64 $
The following table sets forth by level, within the fair value hierarchy, the pension plan assets at fair value as of December 31, 2019: 
  Fair Value Measurements at Reporting Date Using
Quoted Prices in Active 
Markets
for Identical
Assets
Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs
In millionsDecember 31, 2019(Level 1)(Level 2)(Level 3)
Money market funds$$— $$— 
Equity funds23 — 23 — 
Bond/fixed-income funds30 — 30 — 
Real estate indirect investments— — 
Insurance contracts— — 
Total assets at fair value$69 $— $61 $
Changes in Fair Value of the Pension Plan Level 3 Assets
The table below sets forth a summary of changes in the fair value of the pension plan level 3 assets for the year ended December 31, 2020:
In millionsInsurance
Contracts
Balance as of January 1, 2020$
Purchases, sales and settlements, net— 
Balance as of December 31, 2020$
The table below sets forth a summary of changes in the fair value of the pension plan level 3 assets for the year ended December 31, 2019:
In millionsInsurance
Contracts
Balance as of January 1, 2019$
Purchases, sales and settlements, net— 
December 31, 2019$
Estimated Future Benefit Payments The Company expects to make the following benefit payments, estimated based on the assumptions used to measure the company's benefit obligation at the end of the year, reflecting past and future service from its pension and postemployment plans: 
 Pension Postemployment
In millionsBenefitsBenefits
Year
2021$$10 
2022$$10 
2023$$10 
2024$$10 
2025$$10 
2026 - 2030$37 $52 
U.S and International Subsidiary Savings Plans The following table identifies the expense for the United States and International subsidiary savings plans for the years ended December 31:
In millions202020192018
U.S. savings plan$19 $21 $22 
International subsidiary savings plans$13 $16 $17