Pension and Postretirement Benefit Plans

9 Months Ended

Sep. 30, 2016

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Pension and Postretirement Benefit Plans [Text Block]

Pension and Postretirement Benefit Plans

We have a number of defined contribution and defined benefit, qualified and nonqualified, pension plans covering eligible employees. Other postretirement benefits (OPEB), including medical and life insurance, are provided for certain employees upon retirement.

Components of net periodic benefit cost (credit) — 

	Pension
	2016						2015						OPEB - Non-U.S.
Three Months Ended September 30,	U.S.			Non-U.S.			U.S.			Non-U.S.			2016		2015
Interest cost	$	13		$	2		$	16		$	2		$	1	$	1
Expected return on plan assets	(23		)	(1		)	(27		)	(1		)
Service cost				2						2					1
Other
Amortization of net actuarial loss	6			1			4			1
Net periodic benefit cost (credit)	$	(4	)	$	4		$	(7	)	$	4		$	1	$	2
Nine Months Ended September 30,
Interest cost	$	39		$	6		$	50		$	6		$	3	$	3
Expected return on plan assets	(69		)	(2		)	(82		)	(2		)
Service cost				4						5					1
Other				1
Amortization of net actuarial loss	16			4			14			4
Net periodic benefit cost (credit)	$	(14	)	$	13		$	(18	)	$	13		$	3	$	4

Pension expense for the nine months ended September 30, 2016 increased modestly versus the same period in 2015 as the effect of a lower assumed return on plan assets was mostly offset by a reduction in the interest component. The $11 reduction in interest resulted primarily from adopting a full yield curve approach to estimating interest expense effective at the beginning of 2016. The new method applies the specific spot rates along the yield curve used in the most recent remeasurement of the benefit obligation, resulting in a more precise estimate.