XML 112 R43.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Schedule of Changes in Projected Benefit Obligations
The following table presents the projected benefit obligation, fair value of plan assets, funded status and accumulated benefit obligation for the Domestic Plan, the U.K. Plan and the International Plans:

Domestic PlanU.K. PlanInternational Plans
201920182019201820192018
(in millions)
Change in Projected Benefit Obligation:
Benefit obligation at beginning of year$357  $384  $375  $443  $83  $86  
Service cost—  —      
Interest cost14  12  10     
Prior service cost (credit)(1)
—  —  (3)  —  —  
Actuarial loss (gain)37  (14) 62  (39)  —  
Settlements and curtailments(2) (2) —  —  (1) (1) 
Effect of foreign currency exchange rates—  —  13  (25) —  (1) 
Benefits paid(24) (23) (14) (20) (4) (5) 
Benefit obligation at end of year$382  $357  $445  $375  $87  $83  
Change in Plan Assets:
Fair value of plan assets at beginning of year$274  $306  $340  $386  $63  $65  
Actual return on plan assets, net of expenses53  (23) 57  (14)  (1) 
Employer contributions17  16   10    
Settlements(2) (2) —  —  (1) —  
Effect of foreign currency exchange rates—  —  12  (22) —  —  
Benefits paid(24) (23) (14) (20) (4) (5) 
Fair value of plan assets at end of year318  274  404  340  68  63  
Funded status at end of year (underfunded)
(64) (83) (41) (35) (19) (20) 
Accumulated benefit obligation$382  $357  $445  $375  $87  $83  
____________
(1)Relates to U.K. pension equalization requirements.
Schedule of Amounts Recognized in Balance Sheet
Amounts recognized in the consolidated balance sheets consisted of the following:

Domestic PlanU.K. PlanInternational Plans
201920182019201820192018
(in millions)
Other non-current assets$—  $—  $—  $—  $10  $ 
Other liabilities(64) (83) (41) (35) (29) (27) 
Net amount recognized$(64) $(83) $(41) $(35) $(19) $(20) 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
Amounts recognized in accumulated other comprehensive loss consisted of the following:

Domestic PlanU.K. PlanInternational Plans
201920182017201920182017201920182017
(in millions)
Net actuarial loss (gain)$(3) $22  $(15) $29  $(14) $13  $ $ $—  
Prior service cost (credit)(4) (4) (3) (3)  —  —  —  —  
Amortization of net loss(3) (3) (3) (3) (4) (4) (1) (1) —  
Net amount recognized$(10) $15  $(21) $23  $(14) $ $ $ $—  
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized Over Next Fiscal Year
The estimated unrecognized prior service cost and net loss that will be amortized into net periodic pension cost (credit) during the year ended December 31, 2020 are as follows:

Domestic PlanU.K. PlanInternational Plans
(in millions)
Unrecognized prior service cost(1)
$ $—  $—  
Unrecognized net loss
   
Amount unrecognized$ $ $ 
Schedule of Net Periodic Pension Cost (Credit)
The net periodic pension cost (credit) was as follows:

Domestic PlanU.K. PlanInternational Plans
201920182017201920182017201920182017
(in millions)
Service cost$ $ $ $ $ $ $ $ $ 
Interest cost14  12  12  10   10     
Expected return on plan assets(19) (19) (19) (19) (21) (19) (3) (3) (3) 
Amortization of prior service cost
   —  —  —  —  —  —  
Amortization of net loss        —  
Net periodic pension cost (credit)
$ $ $ $(4) $(5) $(3) $ $ $ 
Schedule of Weighted Average Assumptions Used
The weighted-average assumptions used to determine benefit obligations were as follows:

Domestic PlanU.K. PlanInternational Plans
201920182019201820192018
Discount rate3.2 %4.3 %2.1 %3.1 %2.2 %3.3 %
Salary inflationN/A  N/A1.6  1.8  2.2  2.2  
Pension inflationN/A  N/A2.8  3.0  1.9  1.8  

The weighted-average assumptions used to determine net periodic pension cost (credit) were as follows:

Domestic PlanU.K. PlanInternational Plans
201920182017201920182017201920182017
Discount rate4.3 %3.6 %4.0 %3.1 %2.6 %2.8 %3.1 %2.9 %3.0 %
Expected return on plan assets7.0  7.0  7.0  5.5  5.5  5.5  4.3  4.6  4.3  
Salary inflationN/AN/AN/A1.8  1.8  1.9  2.2  2.2  2.1  
Pension inflationN/AN/AN/A3.0  3.0  3.1  1.8  1.8  1.7  
Schedule of Fair Value of Pension Assets
The following tables present the fair value hierarchy of total plan assets measured at fair value by asset category:

December 31, 2019
Domestic PlanU.K. PlanInternational Plans
(in millions)
Level 1
Cash and cash equivalents
$—  $25  $12  
Equity funds
—  61   
Bond funds
 40  —  
Alternative investments
—  169  —  
Level 2
Equity funds
—  —   
Bond funds
—  —   
Net asset value(1)
Bond funds
—  54  —  
Common collective trusts
316  —  44  
Other
—  55  —  
$318  $404  $68  

December 31, 2018
Domestic PlanU.K. PlanInternational Plans
(in millions)
Level 1
Cash and cash equivalents
$—  $34  $11  
Equity funds
—  33   
Bond funds
—  39  —  
Alternative investments
—  140  —  
Level 2
Equity funds
—  —   
Bond funds
—  —   
Net asset value(1)
Bond funds
—  44  —  
Common collective trusts
274  —  40  
Other
—  50  —  
$274  $340  $63  
____________
(1)Certain investments are measured at net asset value per share as a practical expedient and, therefore, have not been classified in the fair value hierarchy.
Schedule of Expected Benefit Payments
As of December 31, 2019, the benefits expected to be paid in the next five years and in the aggregate for the five years thereafter were as follows:

Domestic PlanU.K. PlanInternational Plans
Year(in millions)
2020$33  $15  $12  
202127  15   
202227  15   
202326  16   
202426  16   
2025-2029119  83  23  
$258  $160  $56