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Postretirement Plans (Tables)
 12 Months Ended
Dec. 31, 2018
Retirement Benefits, Description [Abstract]  
Components Of Net Periodic Benefit Cost The components of net periodic benefit cost were as follows:
 
Pension
 
Other Postretirement Benefits
Years ended December 31,
2018

 
2017

 
2016

 
2018

 
2017

 
2016

Service cost

$430

 

$402

 

$604

 

$94

 

$106

 

$128

Interest cost
2,781

 
2,991

 
3,050

 
194

 
229

 
262

Expected return on plan assets
(4,009
)
 
(3,847
)
 
(3,999
)
 
(8
)
 
(7
)
 
(8
)
Amortization of prior service (credits)/costs
(56
)
 
(39
)
 
38

 
(126
)
 
(137
)
 
(126
)
Recognized net actuarial loss
1,130

 
804

 
790

 
(10
)
 
10

 
22

Settlement/curtailment/other losses
44

 
1

 
40

 


 

 

Net periodic benefit cost

$320

 

$312

 

$523

 

$144

 

$201

 

$278

 
 
 
 
 
 
 
 
 
 
 
 
Net periodic benefit cost included in Earnings from operations

$313

 

$510

 

$1,257

 

$84

 

$107

 

$144

Net periodic benefit cost included in Other income/(loss), net
(143
)
 
(117
)
 
327

 
101

 
123

 
151

Net periodic benefit cost included in Earnings before income taxes

$170

 

$393

 

$1,584

 

$185

 

$230

 

$295
Schedule Of Changes In The Benefit Obligation, Plan Assets And Funded Status Of Pensions And OPB The following tables show changes in the benefit obligation, plan assets and funded status of both pensions and OPB for the years ended December 31, 2018 and 2017. Benefit obligation balances presented below reflect the PBO for our pension plans, and accumulated postretirement benefit obligations (APBO) for our OPB plans.
 
Pension
 
Other Postretirement Benefits
 
2018

 
2017

 
2018

 
2017

Change in benefit obligation
 
 
 
 
 
 
 
Beginning balance

$80,393

 

$76,745

 

$6,085

 

$6,431

Service cost
430

 
402

 
94

 
106

Interest cost
2,781

 
2,991

 
194

 
229

Amendments
(377
)
 
(7
)
 
(58
)
 
(35
)
Actuarial (gain)/loss
(6,352
)
 
5,653

 
(732
)
 
(204
)
Settlement/curtailment/other
(730
)
 
(751
)
 

 

Gross benefits paid
(4,700
)
 
(4,658
)
 
(487
)
 
(481
)
Subsidies


 


 
24

 
33

Exchange rate adjustment
(21
)
 
18

 
(6
)
 
6

Ending balance

$71,424

 

$80,393

 

$5,114

 

$6,085

Change in plan assets
 
 
 
 
 
 
 
Beginning balance at fair value

$64,011

 

$56,692

 

$143

 

$134

Actual return on plan assets
(2,585
)
 
8,552

 
(3
)
 
15

Company contribution
16

 
4,025

 
2

 
6

Plan participants’ contributions


 


 
7

 
4

Settlement payments
(764
)
 
(744
)
 

 

Benefits paid
(4,557
)
 
(4,530
)
 
(17
)
 
(16
)
Exchange rate adjustment
(19
)
 
16

 

 

Ending balance at fair value

$56,102

 

$64,011

 

$132

 

$143

Amounts recognized in statement of financial position at December 31 consist of:
 
 
 
 
 
 
 
Other assets

$138

 

$218

 


 


Other accrued liabilities
(137
)
 
(129
)
 

($398
)
 

($397
)
Accrued retiree health care


 


 
(4,584
)
 
(5,545
)
Accrued pension plan liability, net
(15,323
)
 
(16,471
)
 


 


Net amount recognized

($15,322
)
 

($16,382
)
 

($4,982
)
 

($5,942
)
Schedule Of Amounts Recognized In Accumulated Other Comprehensive Loss Amounts recognized in Accumulated other comprehensive loss at December 31 were as follows:
 
Pension
 
Other Postretirement Benefits
 
2018

 
2017

 
2018

 
2017

Net actuarial loss/(gain)

$22,061

 

$22,942

 

($783
)
 

($59
)
Prior service (credits)
(1,546
)
 
(1,211
)
 
(158
)
 
(226
)
Total recognized in Accumulated other comprehensive loss

$20,515

 

$21,731

 

($941
)
 

($285
)
Schedule Of Key Information For All Plans With ABO In Excess Of Plan Assets Key information for our plans with ABO and PBO in excess of plan assets as of December 31 was as follows:

2018

 
2017

Accumulated benefit obligation

$66,306

 

$71,975

Fair value of plan assets
52,894

 
58,353



2018

 
2017

Projected benefit obligation

$68,354

 

$74,953

Fair value of plan assets
52,894

 
58,353
Schedule Of Assumptions Used To Calculate The Benefit Obligation and Net Periodic Benefit Costs The following assumptions, which are the weighted average for all plans, are used to calculate the benefit obligation at December 31 of each year and the net periodic benefit cost for the subsequent year.
December 31,
2018

 
2017

 
2016

Discount rate:
 
 
 
 
 
Pension
4.20
%
 
3.60
%
 
4.00
%
Other postretirement benefits
4.00
%
 
3.30
%
 
3.70
%
Expected return on plan assets
6.80
%
 
6.80
%
 
6.80
%
Rate of compensation increase
5.30
%
 
5.30
%
 
4.40
%
Interest crediting rates for cash balance plans
5.15
%
 
5.15
%
 
5.15
%
Schedule Of Assumed Health Care Cost Trend Rates Assumed health care cost trend rates were as follows:
December 31,
2018

 
2017

 
2016

Health care cost trend rate assumed next year
5.50
%
 
6.00
%
 
6.50
%
Ultimate trend rate
4.50
%
 
4.50
%
 
5.00
%
Year that trend reached ultimate rate
2021

 
2021

 
2021
Schedule of actual allocations for pension assets and target allocations by asset class [Table Text Block] The actual and target allocations by asset class for the pension assets at December 31 were as follows:
 
Actual Allocations
 
Target Allocations
Asset Class
2018

 
2017

 
2018

 
2017

Fixed income
48
%
 
46
%
 
47
%
 
47
%
Global equity
28

 
31

 
29

 
29

Private equity
5

 
5

 
5

 
5

Real estate and real assets
9

 
8

 
9

 
9

Hedge funds
10

 
10

 
10

 
10

Total
100
%
 
100
%
 
100
%
 
100
%
Schedule of Allocation of Plan Assets The following table presents our plan assets using the fair value hierarchy as of December 31, 2018 and 2017. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant unobservable inputs.
 
December 31, 2018
December 31, 2017
 
Total

Level 1

Level 2

Level 3

Total

Level 1

Level 2

Level 3

Fixed income securities:
 
 
 
 
 
 
 
 
Corporate

$17,481



$17,479


$2


$19,603



$19,591


$12

U.S. government and agencies
5,589


5,589


5,430


5,430


Mortgage backed and asset backed
722


410

312

760


460

300

Municipal
1,255



1,255



1,355

 
1,355


Sovereign
967



967



1,237

 
1,237

 
Other
106


$53

53



118


$59

59


Derivatives:

 
 
 

 
 
 
Assets





49


49


Liabilities
(51
)

(51
)

(25
)

(25
)

Cash equivalents and other short-term investments
1,068



1,068


1,778



1,778


Equity securities:

 
 
 

 
 
 
U.S. common and preferred stock
3,744

3,744



4,615

4,615



Non-U.S. common and preferred stock
4,850

4,846

4


6,204

6,204




Derivatives:

 
 
 

 
 
 
Assets
3



3


4

1

3


Liabilities
(9
)


(9
)

(4
)


(4
)

Private equity 














Real estate and real assets:


 
 
 


 
 
 
Real estate
422

422





462

462





Real assets
659

311

344

4

705

449

253

3

Derivatives:


 
 
 


 
 
 
Assets
4


4



17



17



Liabilities
(17
)
(1
)
(16
)


(3
)


(3
)


Total

$36,793


$9,375


$27,100


$318


$42,305


$11,790


$30,200


$315

 
 
 
 
 
 
 
 
 
Fixed income common/collective/pooled funds

$938

 
 
 

$1,257

 
 
 
Fixed income other
442

 
 
 
303

 
 
 
Equity common/collective pooled funds
5,264

 
 
 
6,786

 
 
 
Private equity
2,934

 
 
 
2,767

 
 
 
Real estate and real assets
3,792

 
 
 
3,744

 
 
 
Hedge funds
5,484

 
 
 
6,440

 
 
 
Total investments measured at NAV as a practical expedient

$18,854

 
 
 

$21,297

 
 
 
 
 
 
 
 
 
 
 
 
Cash

$205

 
 
 

$170

 
 
 
Receivables
404

 
 
 
436

 
 
 
Payables
(154
)
 
 
 
(197
)
 
 
 
Total

$56,102

 
 
 

$64,011

 
 
 
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] The following tables present a reconciliation of Level 3 assets (excluding investments which are valued using NAVs as a practical expedient) held during the years ended December 31, 2018 and 2017. Transfers into and out of Level 3 are reported at the beginning-of-year values.
 
January 1
2018 Balance

 
Net Realized and Unrealized Gains/(Losses)

 
Net Purchases, Issuances and Settlements

 
Net Transfers Into/(Out of) Level 3

 
December 31
2018 Balance

Fixed income securities:
 
 
 
 
 
 
 
 
 
Corporate (1)

$2

 
 
 


 


 

$2

Mortgage backed and asset backed (1)
310

 

($3
)
 

$3

 

$2

 
312

Real assets
3

 


 


 
1

 
4

Total

$315

 

($3
)
 

$3

 

$3

 

$318

 
January 1
2017 Balance

 
Net Realized and Unrealized Gains/(Losses)

 
Net Purchases, Issuances and Settlements

 
Net Transfers Into/(Out of) Level 3

 
December 31
2017 Balance

Fixed income securities:
 
 
 
 
 
 
 
 
 
Corporate (1)

$12

 


 

$1

 

($1
)
 

$12

U.S. government and agencies
1

 
 
 
 
 
(1
)
 

Mortgage backed and asset backed (1)
331

 

$10

 
(39
)
 
(2
)
 
300

Equity securities:
 
 
 
 
 
 
 
 

U.S. common and preferred stock
1

 
(1
)
 
 
 

 

Real assets
5

 


 
(2
)
 
 
 
3

Total

$350

 

$9

 

($40
)
 

($4
)
 

$315


(1) 
Certain fixed income securities were reclassified between mortgage backed and asset backed and corporate on January 1, 2018 and 2017.
Schedule Of Estimated Future Benefit Payments The table below reflects the total pension benefits expected to be paid from the plans or from our assets, including both our share of the benefit cost and the participants’ share of the cost, which is funded by participant contributions. OPB payments reflect our portion only.
Year(s)
2019

 
2020

 
2021

 
2022

 
2023

 
2024-2028

Pensions

$4,711

 

$4,706

 

$4,684

 

$4,630

 

$4,575

 

$22,171

Other postretirement benefits:
 
 
 
 
 
 
 
 
 
 
 
Gross benefits paid
486

 
486

 
477

 
476

 
465

 
2,066

Subsidies
(17
)
 
(17
)
 
(17
)
 
(18
)
 
(18
)
 
(90
)
Net other postretirement benefits

$469

 

$469

 

$460

 

$458

 

$447

 

$1,976