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Note 18 - Other Postretirement Benefits (Tables)
12 Months Ended
Dec. 31, 2017
Other Postretirement Benefits [Line Items]  
Schedule of Changes in Projected Benefit Obligations [Table Text Block]

The measurement date used to determine the pension obligation for all funded and unfunded U.S. and Non-U.S. defined benefit plans is December 31.

 

 

 

Year Ended

December 31, 2017

 

 

Year Ended

December 31, 2016

 

(in millions)

 

U.S.

 

 

Non-U.S.

 

 

U.S.

 

 

Non-U.S.

 

Change in Benefit Obligation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Projected benefit obligation at beginning of period

 

$

3,908

 

 

$

816

 

 

$

4,099

 

 

$

800

 

Service cost

 

 

12

 

 

 

3

 

 

 

12

 

 

 

3

 

Interest cost

 

 

115

 

 

 

12

 

 

 

113

 

 

 

14

 

Benefit payments

 

 

(352

)

 

 

(48

)

 

 

(395

)

 

 

(48

)

Actuarial loss

 

 

170

 

 

 

37

 

 

 

76

 

 

 

61

 

Special termination benefits

 

 

13

 

 

 

 

 

 

3

 

 

 

 

Currency adjustments

 

 

 

 

 

65

 

 

 

 

 

 

(14

)

Projected benefit obligation at end of period

 

$

3,866

 

 

$

885

 

 

$

3,908

 

 

$

816

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in Plan Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair value of plan assets at beginning of period

 

$

3,653

 

 

$

693

 

 

$

3,793

 

 

$

728

 

Gain on plan assets

 

 

503

 

 

 

27

 

 

 

255

 

 

 

19

 

Employer contributions

 

 

 

 

 

5

 

 

 

 

 

 

4

 

Benefit payments

 

 

(352

)

 

 

(48

)

 

 

(395

)

 

 

(48

)

Currency adjustments

 

 

 

 

 

45

 

 

 

 

 

 

(10

)

Fair value of plan assets at end of period

 

$

3,804

 

 

$

722

 

 

$

3,653

 

 

$

693

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Under Funded Status at end of period

 

$

(62

)

 

$

(163

)

 

$

(255

)

 

$

(123

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated benefit obligation at end of period

 

$

3,864

 

 

$

874

 

 

$

3,907

 

 

$

806

 

 

Schedule of Amounts from Other Post-retirement Plan Recognized in Balance Sheet [Table Text Block]

 

 

 

As of December 31,

 

 

 

2017

 

 

2016

 

Other current liabilities

 

$

(5

)

 

$

(5

)

Pension and other postretirement liabilities

 

 

(69

)

 

 

(69

)

 

 

$

(74

)

 

$

(74

)

 

Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

 

 

 

As of December 31,

 

 

 

2017

 

 

2016

 

Net actuarial gain

 

$

(2

)

 

$

(5

)

 

Schedule of Other Post-retirement Plan Recognized in Other Comprehensive (Income) Loss [Table Text Block]

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

Newly established loss

 

$

1

 

 

$

1

 

Amortization of:

 

 

 

 

 

 

 

 

  Net actuarial gain

 

 

2

 

 

 

2

 

Total loss recognized in Other comprehensive (loss) income

 

$

3

 

 

$

3

 

 

Schedule of Other Post-retirement Plan, Net Benefit Costs [Table Text Block]

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Components of net postretirement benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

 

 

$

 

 

$

 

Interest cost

 

 

2

 

 

 

2

 

 

 

3

 

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial gain

 

 

(2

)

 

 

(2

)

 

 

 

Other postretirement benefit cost from continuing

   operations

 

$

 

 

$

 

 

$

3

 

 

Schedule of Assumptions Used to Calculate Other Post-retirement Plan, Net Benefit Obligation [Table Text Block]

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

Discount rate

 

 

3.20

%

 

 

3.44

%

Salary increase rate

 

 

2.35

%

 

 

2.35

%

 

Schedule of Assumptions Used to Calculate Other Post-retirement Plan Net Benefit Costs [Table Text Block]

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Effective rate for interest cost

 

 

2.87

%

 

 

2.85

%

 

 

3.49

%

Salary increase rate

 

 

2.35

%

 

 

1.80

%

 

 

2.60

%

 

Other Post-retirement Benefits, Schedule of Health Care Cost Trend Rates [Table Text Block]

 

 

 

2017

 

 

2016

 

Healthcare cost trend

 

 

5.40

%

 

 

5.68

%

Rate to which the cost trend rate is assumed to decline

   (the ultimate trend rate)

 

 

4.38

%

 

 

4.38

%

Year that the rate reaches the ultimate trend rate

 

 

2022

 

 

 

2022

 

 

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]

 

 

 

1% increase

 

 

1% decrease

 

Effect on total service and interest cost

 

$

 

 

$

 

Effect on postretirement benefit obligation

 

 

5

 

 

 

(4

)

 

Schedule of Expected Other Post-retirement Benefit Payments [Table Text Block]

 

2018

 

$

5

 

2019

 

 

5

 

2020

 

 

4

 

2021

 

 

4

 

2022

 

 

4

 

2023-2027

 

 

19

 

 

Other Postretirement Benefit Plan [Member]  
Other Postretirement Benefits [Line Items]  
Schedule of Changes in Projected Benefit Obligations [Table Text Block]

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

Net benefit obligation at beginning of period

 

$

74

 

 

$

78

 

Interest cost

 

 

2

 

 

 

2

 

Plan participants’ contributions

 

 

3

 

 

 

5

 

Actuarial loss

 

 

1

 

 

 

1

 

Benefit payments

 

 

(8

)

 

 

(10

)

Currency adjustments

 

 

2

 

 

 

(2

)

Net benefit obligation at end of period

 

$

74

 

 

$

74

 

 

 

 

 

 

 

 

 

 

Underfunded status at end of period

 

$

(74

)

 

$

(74

)