XML 139 R20.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Employee Benefit Plans (Notes)
12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Employee Benefit Plans EMPLOYEE BENEFIT PLANS
DEFINED BENEFIT PENSION PLAN
The Company’s defined benefit pension plan was closed to new entrants as of July 1, 1997 and existing participants do not accrue any additional benefits. The net periodic pension cost for 2019 was $2 million and was comprised of interest cost of approximately $5 million and the amortization of the actuarial net loss of $2 million, offset by a benefit of $5 million for the expected return on assets. The net periodic pension cost for 2018 was less than $1 million and was comprised of interest cost of approximately $5 million and the amortization of the actuarial net loss of $2 million, offset by a benefit of $7 million for the expected return on assets.
At December 31, 2019 and 2018, the accumulated benefit obligation of this plan was $143 million and $128 million, respectively, and the fair value of the plan assets were $100 million and $90 million, respectively, resulting in an unfunded accumulated benefit obligation of $43 million and $38 million, respectively, which is recorded in Other current and non-current liabilities in the Consolidated Balance Sheets.
Estimated future benefit payments as of December 31, 2019 are as follows:
YearAmount
2020$ 
2021 
2022 
2023 
2024 
2025 through 202945  
The minimum funding required during 2020 is estimated to be $8 million.
The following table presents the fair values of plan assets by category as of December 31, 2019:
Asset CategoryQuoted Price in Active Market for Identical Assets
(Level I)
Significant Other Observable Inputs
(Level II)
Significant Unobservable Inputs
(Level III)
Total
Cash and cash equivalents$ $—  $—  $ 
Equity securities—  51  —  51  
Fixed income securities—  48  —  48  
Total$ $99  $—  $100  
The following table presents the fair values of plan assets by category as of December 31, 2018:
Asset CategoryQuoted Price in Active Market for Identical Assets
(Level I)
Significant Other Observable Inputs
(Level II)
Significant Unobservable Inputs
(Level III)
Total
Cash and cash equivalents$ $—  $—  $ 
Equity securities—  43  —  43  
Fixed income securities—  44  —  44  
Total$ $87  $—  $90  
OTHER EMPLOYEE BENEFIT PLANS
The Company also maintains post-retirement health and welfare plans for certain subsidiaries and a non-qualified pension plan for certain individuals. At December 31, 2019 and 2018, the related projected benefit obligation for these plans accrued on the Company’s Consolidated Balance Sheets (primarily within other non-current liabilities) was $5 million for both periods.
DEFINED CONTRIBUTION SAVINGS PLAN
The Company sponsors a defined contribution savings plan that provides certain of its eligible employees an opportunity to accumulate funds for retirement and has a Company match for a portion of the contributions made by participating employees. The Company’s cost for contributions to this plan was $17 million, $16 million and $16 million for the years ended December 31, 2019, 2018 and 2017, respectively.