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Employee Bargaining Agreements and Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2015
Postemployment Benefits [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 Kingdom using a measurement date of December 31, 2015 and 2014, are as follows (in millions):

 

 

 

Pension Benefits

 

At year end

 

2015

 

 

2014

 

Benefit obligation at beginning of year

 

$

4

 

 

$

5

 

Service cost

 

 

 

 

 

 

Interest cost

 

 

1

 

 

 

 

Actuarial loss (gain)

 

 

(1

)

 

 

 

Benefits paid

 

 

 

 

 

 

Participants contributions

 

 

 

 

 

 

Exchange rate loss (gain)

 

 

 

 

 

 

Acquisitions (disposals)

 

 

13

 

 

 

 

Currency Impact

 

 

(1

)

 

 

(1

)

Benefit obligation at end of year

 

 

16

 

 

 

4

 

 

 

 

 

 

 

 

 

 

Fair value of plan assets at beginning of year

 

$

5

 

 

$

6

 

Actual return

 

 

(1

)

 

 

 

Benefits paid

 

 

 

 

 

 

Company contributions

 

 

1

 

 

 

 

Participants contributions

 

 

 

 

 

 

Exchange rate gain (loss)

 

 

 

 

 

 

Acquisitions (disposals)

 

 

13

 

 

 

 

Currency Impact

 

 

 

 

 

(1

)

Fair value of plan assets at end of year

 

 

18

 

 

 

5

 

 

 

 

 

 

 

 

 

 

Funded status

 

 

2

 

 

 

1

 

Accumulated benefit obligation at end of year

 

 

16

 

 

 

4

 

 

Assumption Rates Used for Benefit Obligations

The assumption rates used for benefit obligations are as follows:

 

 

 

Years Ended December 31,

 

 

 

2015

 

 

2014

 

Discount rate:

 

 

3.70

%

 

 

3.90

%

 

Assumption Rates Used for Net Periodic Benefit Costs

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

 

 

 

Years Ended December 31,

 

 

 

2015

 

2014

 

 

2013

 

Discount rate:

 

3.10% - 3.90%

 

3.90% - 4.40%

 

 

 

4.40%

 

Expected return on assets:

 

2.13% - 5.50%

 

 

5.50%

 

 

 

5.50%

 

 

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, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities

 

$

 

 

$

 

 

$

 

 

$

 

Fixed Income Securities

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

5

 

 

 

 

 

 

5

 

 

 

 

Total Fair Value Measurements

 

$

5

 

 

$

 

 

$

5

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities

 

$

10

 

 

$

10

 

 

$

 

 

$

 

Fixed Income Securities

 

 

3

 

 

 

3

 

 

 

 

 

 

 

Other

 

 

5

 

 

 

 

 

 

5

 

 

 

 

Total Fair Value Measurements

 

$

18

 

 

$

13

 

 

$

5

 

 

$