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Pension and Postretirement Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2014
Components of Net Periodic Benefit Costs and Other Amounts Recognized in OCI
Components of net periodic benefit costs and other amounts recognized in OCI —
 
Pension Benefits
 
2014
 
2013
 
2012
 
U.S.

 
Non-U.S.
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
Interest cost
$
80

 
$
11

 
$
74

 
$
11

 
$
85

 
$
12

Expected return on plan assets
(111
)
 
(1
)
 
(117
)
 
(1
)
 
(111
)
 
(1
)
Service cost


 
6

 


 
6

 


 
5

Amortization of net actuarial loss
16

 
3

 
20

 
4

 
14

 


Settlement loss
36

 
6

 
 
 
 
 
 
 
 
Other
(5
)
 
(1
)
 


 


 


 


Net periodic benefit cost (credit)
16

 
24

 
(23
)
 
20

 
(12
)
 
16

 
 
 
 
 
 
 
 
 
 
 
 
Recognized in OCI:
 

 
 

 
 

 
 

 
 

 
 

Amount due to net actuarial (gains) losses
93

 
53

 
(88
)
 
(1
)
 
131

 
51

Prior service cost from plan amendments


 


 


 


 


 
6

Reclassification adjustment for net actuarial losses in net periodic benefit cost
(52
)
 
(9
)
 
(20
)
 
(4
)
 
(14
)
 
 
Venezuelan bolivar devaluation
 
 
(4
)
 
 
 
(2
)
 
 
 
 
Other
(2
)
 
(1
)
 


 


 


 


Total recognized in OCI
39

 
39

 
(108
)
 
(7
)
 
117

 
57

Net recognized in benefit cost and OCI
$
55

 
$
63

 
$
(131
)
 
$
13

 
$
105

 
$
73


 
OPEB - Non-U.S.
 
2014
 
2013
 
2012
Interest cost
$
5

 
$
5

 
$
5

Service cost
1

 
1

 
1

Amortization of net actuarial gain
(1
)
 
 
 
 
Net periodic benefit cost
$
5

 
$
6

 
$
6

 
 
 
 
 
 
Recognized in OCI:
 

 
 

 
 

Amount due to net actuarial (gains) losses
10

 
(12
)
 
(8
)
Reclassification adjustment for amortization of net actuarial gain
1

 
 
 
 
Total recognized in OCI
11

 
(12
)
 
(8
)
Net recognized in benefit cost and OCI
$
16

 
$
(6
)
 
$
(2
)
Reconciliation of Changes in Benefit Obligations, Plan Assets and Funded Status
Funded status — The following tables provide reconciliations of the changes in benefit obligations, plan assets and funded status.
 
Pension Benefits
 
 
 
 
 
2014
 
2013
 
OPEB - Non-U.S.
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
 
2014
 
2013
Reconciliation of benefit obligation:
 

 
 

 
 

 
 

 
 

 
 

Obligation at beginning of period
$
1,805

 
$
313

 
$
2,061

 
$
309

 
$
112

 
$
132

Interest cost
80

 
11

 
74

 
11

 
5

 
5

Service cost


 
6

 


 
6

 
1

 
1

Actuarial (gain) loss
212

 
54

 
(200
)
 
(1
)
 
10

 
(12
)
Benefit payments
(124
)
 
(16
)
 
(130
)
 
(15
)
 
(6
)
 
(6
)
New plans


 
16

 


 


 


 


Settlements
(133
)
 
(7
)
 


 
(2
)
 


 


Other
(17
)
 
(11
)
 
 
 
 
 


 


Translation adjustments


 
(41
)
 


 
5

 
(12
)
 
(8
)
Obligation at end of period
$
1,823

 
$
325

 
$
1,805

 
$
313

 
$
110

 
$
112


The amounts included on the Other line of the preceding table represent the error correction discussed in Note 1 to these consolidated financial statements and the reclassification of the amount related to our operations in Venezuela to noncurrent liabilities of disposal group held for sale as discussed in Note 2.
 
Pension Benefits
 
 
 
 
 
2014
 
2013
 
OPEB - Non-U.S.
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
 
2014
 
2013
Reconciliation of fair value of plan assets:
 

 
 

 
 

 
 

 
 

 
 

Fair value at beginning of period
$
1,649

 
$
42

 
$
1,734

 
$
42

 
$
—

 
$
—

Actual return on plan assets
230

 
2

 
5

 
1

 


 


Employer contributions


 
16

 
40

 
17

 
6

 
6

Benefit payments
(124
)
 
(16
)
 
(130
)
 
(15
)
 
(6
)
 
(6
)
Settlements
(133
)
 
(7
)
 


 
(2
)
 


 


New plans
 
 
18

 
 
 
 
 
 
 
 
Asset reversion
 
 
(6
)
 
 
 
 
 
 
 
 
Translation adjustments


 
(5
)
 


 
(1
)
 


 


Fair value at end of period
$
1,622

 
$
44

 
$
1,649

 
$
42

 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
Funded status at end of period
$
(201
)
 
$
(281
)
 
$
(156
)
 
$
(271
)
 
$
(110
)
 
$
(112
)
Amounts Recognized in Balance Sheet
Amounts recognized in the balance sheet —
 
Pension Benefits
 
 
 
 
 
2014
 
2013
 
OPEB - Non-U.S.
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
 
2014
 
2013
Amounts recognized in the consolidated balance sheet:
 
 
 

 
 

 
 

 
 

 
 

Noncurrent assets
$
—

 
$
3

 
$
1

 
$
7

 
$
—

 
$
—

Current liabilities


 
(10
)
 


 
(11
)
 
(5
)
 
(6
)
Noncurrent liabilities
(201
)
 
(274
)
 
(157
)
 
(267
)
 
(105
)
 
(106
)
Net amount recognized
$
(201
)
 
$
(281
)
 
$
(156
)
 
$
(271
)
 
$
(110
)
 
$
(112
)




Amounts recognized in AOCI —
 
Pension Benefits
 
 
 
 
 
2014
 
2013
 
OPEB - Non-U.S.
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
 
2014
 
2013
Amounts recognized in AOCI:
 

 
 

 
 

 
 

 
 

 
 

Net actuarial loss (gain)
$
491

 
$
103

 
$
452

 
$
58

 
$
(9
)
 
$
(20
)
Prior service cost


 
3

 


 
10

 


 


Gross amount recognized
491

 
106

 
452

 
68

 
(9
)
 
(20
)
Deferred tax benefits


 
(25
)
 


 
(16
)
 
3

 
5

Noncontrolling and equity interests


 


 


 
(1
)
 


 


Net amount recognized
$
491

 
$
81

 
$
452

 
$
51

 
$
(6
)
 
$
(15
)
Aggregate Funding Levels of Defined Benefit Pension Plans
Aggregate funding levels — The following table presents information regarding the aggregate funding levels of our defined benefit pension plans at December 31:
 
2014
 
2013
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
Plans with fair value of plan assets in excess of obligations:
 

 
 

 
 

 
 

Accumulated benefit obligation
$
—

 
$
14

 
$
15

 
$
14

Projected benefit obligation


 
14

 
15

 
15

Fair value of plan assets


 
16

 
16

 
22

Plans with obligations in excess of fair value of plan assets:
 
 
 
 
 

 
 

Accumulated benefit obligation
1,823

 
283

 
1,790

 
266

Projected benefit obligation
1,823

 
311

 
1,790

 
298

Fair value of plan assets
1,622

 
28

 
1,633

 
20
Fair Value of Pension Plan Assets
Fair value of pension plan assets —
 
 
 
 
Fair Value Measurements at December 31, 2014
 
 
 
 
U.S.
 
 
Non-U.S.
 
 
 
 
 
 
Quoted
Prices in
Active
Markets
 
Significant
Other
Observable
Inputs
 
Significant
Unobserv-able
Inputs
 
Quoted
Prices in
Active
Markets
Significant
Other
Observable
Inputs
 
Significant
Unobserv-able
Inputs
Asset Category
 
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
(Level 1)
(Level 2)
 
(Level 3)
Equity securities:
 
 

 
 

 
 

 
 

 
 
 

 
 

U.S. all cap (a)
 
$
76

 
$
76

 
$
—

 
$
—

 
$
—

$
—

 
$
—

U.S. large cap
 
76

 
76

 


 


 
 


 


U.S. small cap
 
22

 
22

 
 
 
 
 
 
 
 
 
EAFE composite
 
139

 
139

 


 


 
 


 


Emerging markets
 
78

 
75

 


 


 
3



 


Fixed income securities:
 
 

 
 
 
 
 
 
 
 
 
 
 
U.S. core bonds (b)
 
132

 


 
132

 


 
 


 


Corporate bonds
 
500

 


 
500

 


 
 


 


U.S. Treasury strips
 
263

 


 
263

 


 
 


 


Non-U.S. government securities
 
25

 


 


 


 
 
25

 


Emerging market debt
 
69

 


 
69

 


 
 


 


Alternative investments:
 
 

 
 
 
 
 
 
 
 
 
 
 
Hedge fund of funds (c)
 
87

 


 


 
87

 
 


 


Insurance contracts (d)
 
10

 


 


 


 
 


 
10

Real estate
 
50

 


 


 
50

 
 


 


Other (e)
 
(3
)
 


 
(3
)
 


 
 


 


Cash and cash equivalents
 
142

 


 
136

 


 


6

 


Total
 
$
1,666

 
$
388

 
$
1,097

 
$
137

 
$
3

$
31

 
$
10


 
 
 
 
Fair Value Measurements at December 31, 2013
 
 
 
 
U.S.
 
Non-U.S.
 
 
 
 
Quoted
Prices in
Active
Markets
 
Significant
Other
Observable
Inputs
 
Significant
Unobservable
Inputs
 
Significant
Other
Observable
Inputs
 
Significant
Unobservable
Inputs
Asset Category
 
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
(Level 2)
 
(Level 3)
Equity securities:
 
 

 
 

 
 

 
 

 
 

 
 

U.S. all cap (a)
 
$
90

 
$
90

 
$
—

 
$
—

 
$
—

 
$
—

U.S. large cap
 
72

 
72

 


 


 


 


EAFE composite
 
155

 
155

 


 


 


 


Emerging markets
 
76

 
76

 


 


 


 


Fixed income securities:
 
 

 
 
 
 
 
 
 
 
 
 
U.S. core bonds (b)
 
203

 


 
203

 


 


 


Corporate bonds
 
494

 


 
494

 


 


 


U.S. Treasury strips
 
207

 


 
207

 


 


 


Non-U.S. government securities
 
11

 


 


 


 
11

 


Emerging market debt
 
81

 


 
81

 


 


 


Alternative investments:
 
 

 
 
 
 
 
 
 
 
 
 
Hedge fund of funds (c)
 
83

 


 


 
83

 


 


Insurance contracts (d)
 
11

 


 


 


 


 
11

Real estate
 
48

 


 


 
48

 


 


Other (e)
 
(28
)
 


 
(34
)
 


 
6

 


Cash and cash equivalents
 
188

 


 
174

 


 
14

 


Total
 
$
1,691

 
$
393

 
$
1,125

 
$
131

 
$
31

 
$
11

________________________________
Notes:
(a)
This category comprises a combination of small-, mid- and large-cap equity stocks that are allocated at the investment manager's discretion. Investments include common and preferred securities as well as equity funds that invest in these instruments.
(b)
This category represents a combination of investment grade corporate bonds, sovereign bonds, Yankee bonds, asset backed securities and U.S. government bonds. Investments include fixed income funds that invest in these instruments.
(c)
This category includes fund managers that invest in a well-diversified group of hedge funds where strategies include, but are not limited to, event driven, relative value, long/short market neutral, multistrategy and global macro. Investments may be made directly or through pooled funds.
(d)
This category comprises contracts placed with insurance companies where the underlying assets are invested in fixed interest securities.
(e)
Other assets in the U.S. represent interest rate derivatives which had a market value of $(3) at December 31, 2014 and $(34) at December 31, 2013.
Reconciliation of Level 3 Assets
 
 
2014
 
2013
 
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
Reconciliation of Level 3 Assets
 
Hedge
fund of
funds
 
Real
Estate
and
Other
 
Insurance
contract
 
Hedge
fund of
funds
 
Real
Estate
and
Other
 
Insurance
contract
Fair value at beginning of period
 
$
83

 
$
48

 
$
11

 
$
78

 
$
46

 
$
9

Unrealized gains (losses) relating to:
 
 

 
 

 
 

 
 

 
 

 
 

Assets sold during the period
 


 


 


 


 


 


Assets still held at the reporting date
 
4

 
5

 


 
8

 
4

 
2

Purchases, sales and settlements
 


 
(3
)
 
(1
)
 
(3
)
 
(2
)
 


Fair value at end of period
 
$
87

 
$
50

 
$
10

 
$
83

 
$
48

 
$
11
One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
A one-percentage-point change in assumed health care cost trend rates would have the following effects for 2014:
 
1% Point
Increase
 
1% Point
Decrease
Effect on total of service and interest cost components
$
1

 
$
(1
)
Effect on OPEB obligations
14

 
(12
)
Expected Future Benefit Payments
Estimated future benefit payments and contributions — Expected benefit payments by our pension and OPEB plans for each of the next five years and for the period 2020 through 2024 are as follows:
 
 
Pension Benefits
 
OPEB
Year
 
U.S.
 
Non-U.S.
 
Non-U.S.
2015
 
$
132

 
$
14

 
$
5

2016
 
127

 
15

 
6

2017
 
123

 
16

 
6

2018
 
120

 
16

 
6

2019
 
116

 
16

 
6

2020 to 2024
 
555

 
113

 
30

Total
 
$
1,173

 
$
190

 
$
59
Multiemployer Pension Plans
 
 
Employer
Identification
Number/
Plan Number
 
PPA
Zone Status
 
Funding Plan Pending/
Implemented
 
Contributions by Dana
 
Surcharge
Imposed
Pension
Fund
 
 
2014
 
2013
 
 
2014
 
2013
 
2012
 
SPT
 
23-6648508 / 499
 
Green
 
Green
 
No
 
$
9

 
$
9

 
$
10

 
No
Pension Plan [Member]  
Significant Weighted Average Assumptions Used
Significant assumptions — The significant weighted-average assumptions used in the measurement of pension benefit obligations at December 31 of each year and the net periodic benefit cost for each year are as follows:
 
2014
 
2013
 
2012
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
Pension benefit obligations:
 

 
 

 
 

 
 

 
 

 
 

Discount rate
3.81
%
 
3.75
%
 
4.63
%
 
4.15
%
 
3.77
%
 
3.93
%
Net periodic benefit cost:
 
 
 
 
 

 
 

 
 

 
 

Discount rate
4.63
%
 
4.15
%
 
3.77
%
 
3.93
%
 
4.57
%
 
4.98
%
Rate of compensation increase
N/A

 
3.77
%
 
N/A

 
3.73
%
 
N/A

 
3.14
%
Expected return on plan assets
7.00
%
 
3.41
%
 
7.00
%
 
3.35
%
 
7.00
%
 
3.74
%
Other Postretirement Benefit Plan [Member]  
Significant Weighted Average Assumptions Used
The significant weighted-average assumptions used in the measurement of OPEB obligations at December 31 of each year and the net periodic benefit cost for each year are as follows:
 
2014
 
2013
 
2012
 
Non-U.S.
 
Non-U.S.
 
Non-U.S.
OPEB benefit obligations:
 

 
 

 
 

Discount rate
3.84
%
 
4.65
%
 
3.90
%
Net periodic benefit cost:
 
 
 

 
 

Discount rate
4.65
%
 
3.90
%
 
4.18
%
Initial health care costs trend rate
5.91
%
 
6.11
%
 
6.40
%
Ultimate health care costs trend rate
5.02
%
 
5.03
%
 
5.02
%
Year ultimate reached
2018

 
2018

 
2018