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Pension and Other Postretirement Plans (Tables)
 12 Months Ended
Dec. 31, 2018
Retirement Benefits [Abstract]  
Reconciliation of the Change in Benefit Obligation and Plan Assets and Funded Status
The following tables set forth the reconciliation of the beginning and ending balances of the benefit obligation and plan assets, the funded status and the amounts recognized in these financial statements for the defined benefit and other postretirement plans (in millions):
 
Pension Benefits
 
Year Ended December 31, 2018
 
Year Ended December 31, 2017
Accumulated benefit obligation:
$
4,448

 
$
4,739

 
 
 
 
Change in projected benefit obligation:
 
 
 
Projected benefit obligation at beginning of year
$
5,852

 
$
5,253

Service cost
228

 
195

Interest cost
217

 
220

Actuarial (gain) loss
(601
)
 
525

Gross benefits paid and settlements
(292
)
 
(366
)
Other
(8
)
 
25

Projected benefit obligation at end of year
$
5,396

 
$
5,852

 
 
 
 
Change in plan assets:
 
 
 
Fair value of plan assets at beginning of year
$
3,932

 
$
3,355

Actual (loss) return on plan assets
(215
)
 
510

Employer contributions
413

 
419

Gross benefits paid and settlements
(292
)
 
(366
)
Other
(11
)
 
14

Fair value of plan assets at end of year
$
3,827

 
$
3,932

Funded status—Net amount recognized
$
(1,569
)
 
$
(1,920
)





 
Pension Benefits
 
December 31, 2018
 
December 31, 2017
Amounts recognized in the consolidated balance sheets consist of:
 
 
 
Noncurrent asset
$
13

 
$
9

Current liability
(6
)
 
(8
)
Noncurrent liability
(1,576
)
 
(1,921
)
Total liability
$
(1,569
)
 
$
(1,920
)
 
 
 
 
Amounts recognized in accumulated other comprehensive loss consist of:
 
 
 
Net actuarial loss
$
(1,382
)
 
$
(1,610
)
Prior service cost
(5
)
 
(1
)
Total accumulated other comprehensive loss
$
(1,387
)
 
$
(1,611
)
 
 
 
 
 
Other Postretirement Benefits
 
Year Ended December 31, 2018
 
Year Ended December 31, 2017
Change in benefit obligation:
 
 
 
Benefit obligation at beginning of year
$
1,710

 
$
1,687

Service cost
12

 
13

Interest cost
61

 
66

Plan participants' contributions
68

 
68

Benefits paid
(181
)
 
(178
)
Actuarial loss (gain)
(285
)
 
40

Other
6

 
14

Benefit obligation at end of year
$
1,391

 
$
1,710

 
 
 
 
Change in plan assets:
 
 
 
Fair value of plan assets at beginning of year
$
54

 
$
55

Actual return on plan assets
1

 
1

Employer contributions
111

 
108

Plan participants' contributions
68

 
68

Benefits paid
(181
)
 
(178
)
Fair value of plan assets at end of year
53

 
54

Funded status—Net amount recognized
$
(1,338
)
 
$
(1,656
)
Amounts Recognized in Consolidated Balance Sheet and Accumulated Other Comprehensive Income (Loss)
 
Pension Benefits
 
December 31, 2018
 
December 31, 2017
Amounts recognized in the consolidated balance sheets consist of:
 
 
 
Noncurrent asset
$
13

 
$
9

Current liability
(6
)
 
(8
)
Noncurrent liability
(1,576
)
 
(1,921
)
Total liability
$
(1,569
)
 
$
(1,920
)
 
 
 
 
Amounts recognized in accumulated other comprehensive loss consist of:
 
 
 
Net actuarial loss
$
(1,382
)
 
$
(1,610
)
Prior service cost
(5
)
 
(1
)
Total accumulated other comprehensive loss
$
(1,387
)
 
$
(1,611
)
 
 
 
 
 
Other Postretirement Benefits
 
Year Ended December 31, 2018
 
Year Ended December 31, 2017
Change in benefit obligation:
 
 
 
Benefit obligation at beginning of year
$
1,710

 
$
1,687

Service cost
12

 
13

Interest cost
61

 
66

Plan participants' contributions
68

 
68

Benefits paid
(181
)
 
(178
)
Actuarial loss (gain)
(285
)
 
40

Other
6

 
14

Benefit obligation at end of year
$
1,391

 
$
1,710

 
 
 
 
Change in plan assets:
 
 
 
Fair value of plan assets at beginning of year
$
54

 
$
55

Actual return on plan assets
1

 
1

Employer contributions
111

 
108

Plan participants' contributions
68

 
68

Benefits paid
(181
)
 
(178
)
Fair value of plan assets at end of year
53

 
54

Funded status—Net amount recognized
$
(1,338
)
 
$
(1,656
)

 
Other Postretirement Benefits
 
December 31, 2018
 
December 31, 2017
Amounts recognized in the consolidated balance sheets consist of:
 
 
 
Current liability
$
(43
)
 
$
(54
)
Noncurrent liability
(1,295
)
 
(1,602
)
Total liability
$
(1,338
)
 
$
(1,656
)
Amounts recognized in accumulated other comprehensive income consist of:
 
 
 
Net actuarial gain
$
554

 
$
301

Prior service credit
170

 
208

Total accumulated other comprehensive income
$
724

 
$
509
Accumulated Benefit Obligation and Projected Benefit Obligation in Excess of Plan Assets
The following information relates to all pension plans with an accumulated benefit obligation and a projected benefit obligation in excess of plan assets at December 31 (in millions):
 
2018
 
2017
Projected benefit obligation
$
5,196

 
$
5,637

Accumulated benefit obligation
4,286

 
4,567

Fair value of plan assets
3,614

 
3,709
Components Of Net Periodic Benefit Cost
Net periodic benefit cost for the years ended December 31 included the following components (in millions):
 
2018
 
2017
 
2016
 
Pension Benefits
 
Other Postretirement Benefits
 
Pension Benefits
 
Other Postretirement Benefits
 
Pension Benefits
 
Other Postretirement Benefits
Service cost
$
228

 
$
12

 
$
195

 
$
13

 
$
112

 
$
19

Interest cost
217

 
61

 
220

 
66

 
200

 
86

Expected return on plan assets
(292
)
 
(2
)
 
(243
)
 
(2
)
 
(216
)
 
(2
)
Curtailment gain
—

 
—

 
—

 
—

 
—

 
(107
)
Amortization of unrecognized actuarial (gain) loss
130

 
(32
)
 
128

 
(33
)
 
76

 
(19
)
Amortization of prior service credits
—

 
(37
)
 
—

 
(37
)
 
—

 
(31
)
Other
1

 
—

 
5

 
—

 
5

 
—

Net periodic benefit cost (credit)
$
284

 
$
2

 
$
305

 
$
7

 
$
177

 
$
(54
)
Assumptions Used for Benefit Plans
The assumptions used for the benefit plans were as follows: 
 
 
Pension Benefits
Assumptions used to determine benefit obligations
 
2018
 
2017
Discount rate
 
4.20
%
 
3.65
%
Rate of compensation increase
 
3.89
%
 
3.89
%
 
 
 
 
 
Assumptions used to determine net expense
 
 
Discount rate
 
3.65
%
 
4.19
%
Expected return on plan assets
 
7.31
%
 
7.02
%
Rate of compensation increase
 
3.89
%
 
3.54
%
 
 
 
Other Postretirement Benefits
Assumptions used to determine benefit obligations
 
2018
 
2017
Discount rate
 
4.30
%
 
3.63
%
 
 
 
 
 
Assumptions used to determine net expense
 
 
 
 
Discount rate
 
3.63
%
 
4.07
%
Expected return on plan assets
 
3.00
%
 
3.00
%
Health care cost trend rate assumed for next year
 
6.00
%
 
6.25
%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate in 2023)
 
5.00
%
 
5.00
%
Allocation of Plan Assets
United's plan assets are allocated within the following guidelines:
 
 Percent of Total
 
Expected Long-Term
Rate of Return
Equity securities
30-45
%
 
9.5
%
Fixed-income securities
30-40
 
 
5.8
 
Alternatives
10-25
 
 
7.3
 
Other
0-10
 
 
7.8
 
Pension and Other Postretirement Plan Assets
The following tables present information about United's pension and other postretirement plan assets at December 31, (in millions):
 
 
2018
 
 
2017
Pension Plan Assets:
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Assets Measured at NAV(a)
 
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Assets Measured at NAV(a)
Equity securities funds
 
$
1,394

 
$
254

 
$
106

 
$
—

 
$
1,034

 
 
$
1,406

 
$
269

 
$
133

 
$
—

 
$
1,004

Fixed-income securities
 
1,431

 
—

 
605

 
21

 
805

 
 
1,470

 
—

 
834

 
18

 
618

Alternatives
 
596

 
—

 
—

 
134

 
462

 
 
637

 
—

 
—

 
139

 
498

Other investments
 
406

 
224

 
40

 
142

 
—

 
 
419

 
32

 
124

 
172

 
91

Total
 
$
3,827

 
$
478

 
$
751

 
$
297

 
$
2,301

 
 
$
3,932

 
$
301

 
$
1,091

 
$
329

 
$
2,211

Other Postretirement Benefit Plan Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposit administration fund
 
$
53

 
$
—

 
$
—

 
$
53

 
$
—

 
 
$
54

 
$
—

 
$
—

 
$
54

 
$
—

(a) In accordance with the relevant accounting standards, certain investments that are measured at fair value using the net asset value ("NAV") per share (or its equivalent) have not been classified in the fair value hierarchy. These investments are commingled funds that invest in fixed-income instruments including bonds, debt securities, and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities. Redemption periods for these investments range from daily to semiannually.
Defined Benefit Plan Assets Measured at Fair Value Using Unobservable Inputs
The reconciliation of United's defined benefit plan assets measured at fair value using unobservable inputs (Level 3) for the years ended December 31, 2018 and 2017 is as follows (in millions):
 
2018
 
2017
Balance at beginning of year
$
383

 
$
287

Actual return (loss) on plan assets:
 
 
 
Sold during the year
10

 
7

Held at year end
(21
)
 
16

Purchases, sales, issuances and settlements (net)
(22
)
 
73

Balance at end of year
$
350

 
$
383
Estimated Future Benefit Payments
The estimated future benefit payments, net of expected participant contributions, in United's pension plans and other postretirement benefit plans as of December 31, 2018 are as follows (in millions):
 
Pension
 
Other
Postretirement
 
Other Postretirement—
subsidy receipts
2019
$
329

 
$
100

 
$
5

2020
327

 
104

 
6

2021
353

 
108

 
6

2022
367

 
111

 
6

2023
379

 
113

 
7

Years 2024 – 2028
2,022

 
575

 
38
Participation in the IAM National Pension Plan
United's participation in the IAM National Pension Plan ("IAM Plan") for the annual period ended December 31, 2018 is outlined in the table below. There have been no significant changes that affect the comparability of 2018 and 2017 contributions. The risks of participating in these multi-employer plans are different from single-employer plans, as United may be subject to additional risks that others do not meet their obligations, which in certain circumstances could revert to United. The IAM Plan reported $435 million in employers' contributions for the year ended December 31, 2017. For 2017, the Company's contributions to the IAM Plan represented more than 5% of total contributions to the IAM Plan. The 2018 information is not available as Form 5500 is not final for the plan year.
Pension Fund
IAM National Pension Fund
EIN/ Pension Plan Number
51-6031295 - 002
Pension Protection Act Zone Status (2018 and 2017)
Green Zone. Plans in the green zone are at least 80 percent funded.
FIP/RP Status Pending/Implemented
No
United's Contributions
$52 million, $50 million and $41 million in the years ended December 31, 2018, 2017 and 2016, respectively
Surcharge Imposed
No
Expiration Date of Collective Bargaining Agreement
N/A