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EMPLOYEE RETIREMENT PLANS (Tables)
 12 Months Ended
Dec. 31, 2018
Retirement Benefits [Abstract]  
Schedule of pre-tax expense related to retirement plans
Pre-tax expense related to our retirement plans was as follows, in millions:
 
2018
 
2017
 
2016
Defined-contribution plans
$
49

 
$
55

 
$
58

Defined-benefit pension plans
17

 
29

 
34

 
$
66

 
$
84

 
$
92
Schedule of changes in the projected benefit obligation and fair value of the plan assets, and the funded status of the Company's defined-benefit pension plans
Changes in the projected benefit obligation and fair value of plan assets, and the funded status of our defined-benefit pension plans were as follows, in millions:
 
2018
 
2017
 
Qualified
 
Non-Qualified
 
Qualified
 
Non-Qualified
Changes in projected benefit obligation:
 

 
 

 
 

 
 

Projected benefit obligation at January 1
$
961

 
$
170

 
$
1,055

 
$
170

Service cost
3

 
—

 
3

 
—

Interest cost
30

 
6

 
36

 
6

Actuarial (gain) loss, net
(48
)
 
(9
)
 
34

 
7

Foreign currency exchange
(7
)
 
—

 
20

 
—

Benefit payments
(43
)
 
(12
)
 
(43
)
 
(13
)
Divestitures
—

 
—

 
(144
)
 
—

Projected benefit obligation at December 31
$
896

 
$
155

 
$
961

 
$
170

Changes in fair value of plan assets:
 

 
 

 
 

 
 

Fair value of plan assets at January 1
$
695

 
$
—

 
$
717

 
$
—

Actual return on plan assets
(25
)
 
—

 
77

 
—

Foreign currency exchange
(4
)
 
—

 
8

 
—

Company contributions
52

 
12

 
52

 
13

Expenses, other
(5
)
 
—

 
(7
)
 
—

Benefit payments
(43
)
 
(12
)
 
(43
)
 
(13
)
Divestitures
—

 
—

 
(109
)
 
—

Fair value of plan assets at December 31
$
670

 
$
—

 
$
695

 
$
—

Funded status at December 31
$
(226
)
 
$
(155
)
 
$
(266
)
 
$
(170
)
Schedule of amounts in the Company's consolidated balance sheets
Amounts in our consolidated balance sheets were as follows, in millions:
 
At December 31, 2018
 
At December 31, 2017
 
Qualified
 
Non-Qualified
 
Qualified
 
Non-Qualified
Other assets
$
1

 
$
—

 
$
1

 
$
—

Accrued liabilities
(1
)
 
(13
)
 
(1
)
 
(13
)
Other liabilities
(226
)
 
(142
)
 
(266
)
 
(157
)
Total net liability
$
(226
)
 
$
(155
)
 
$
(266
)
 
$
(170
)
Schedule of unrealized loss included in accumulated other comprehensive income before income taxes
Unrealized loss included in accumulated other comprehensive loss before income taxes was as follows, in millions:
 
At December 31, 2018
 
At December 31, 2017
 
Qualified
 
Non-Qualified
 
Qualified
 
Non-Qualified
Net loss
$
448

 
$
47

 
$
442

 
$
59

Net prior service cost
3

 
—

 
3

 
—

Total
$
451

 
$
47

 
$
445

 
$
59
Schedule of information for defined-benefit pension plans with an accumulated benefit obligation in excess of plan assets
Information for defined-benefit pension plans with an accumulated benefit obligation in excess of plan assets was as follows, in millions:
 
At December 31
 
2018
 
2017
 
Qualified
 
Non-Qualified
 
Qualified
 
Non-Qualified
Projected benefit obligation
$
882

 
$
155

 
$
945

 
$
170

Accumulated benefit obligation
$
882

 
$
155

 
$
945

 
$
170

Fair value of plan assets
$
655

 
$
—

 
$
679

 
$
—
Schedule of net periodic pension cost for the Company's defined-benefit pension plans
Net periodic pension cost for our defined-benefit pension plans was as follows, in millions:
 
2018
 
2017
 
2016
 
Qualified
 
Non-Qualified
 
Qualified
 
Non-Qualified
 
Qualified
 
Non-Qualified
Service cost
$
3

 
$
—

 
$
3

 
$
—

 
$
3

 
$
—

Interest cost
36

 
6

 
44

 
6

 
49

 
7

Expected return on plan assets
(48
)
 
—

 
(46
)
 
—

 
(44
)
 
—

Recognized net loss
17

 
3

 
19

 
3

 
17

 
2

Net periodic pension cost
$
8

 
$
9

 
$
20

 
$
9

 
$
25

 
$
9
Schedule of the Company's qualified defined-benefit pension plan weighted average asset allocation
Our qualified defined-benefit pension plan weighted average asset allocation, which is based upon fair value, was as follows:
 
2018
 
2017
Equity securities
34
%
 
55
%
Debt securities
49
%
 
28
%
Other
17
%
 
17
%
Total
100
%
 
100
%
Schedule of qualified defined-benefit pension plan assets at fair value
The following tables set forth, by level within the fair value hierarchy, the qualified defined-benefit pension plan assets at fair value as of December 31, 2018 and 2017, as well as those valued at NAV using the practical expedient, which approximates fair value, in millions.



M. EMPLOYEE RETIREMENT PLANS (Continued)
 
At December 31, 2018
 
Level 1
 
Level 2
 
Level 3
 
Valued at NAV
 
Total
Plan Assets
 
 
 
 
 
 
 
 
 
Common and Preferred Stocks:
 
 
 
 
 
 
 
 
 
United States
$
81

 
$
—

 
$
—

 
$
21

 
$
102

International
37

 
—

 
—

 
89

 
126

Private Equity and Hedge Funds:
 
 
 
 
 
 
 
 
 
United States
—

 
—

 
32

 
—

 
32

International
—

 
—

 
27

 
34

 
61

Corporate Debt Securities:
 
 
 
 
 
 
 
 
 
United States
34

 
—

 
—

 
102

 
136

International
—

 
1

 
—

 
—

 
1

Government and Other Debt Securities:
 
 
 
 
 
 
 
 
 
United States
—

 
2

 
—

 
130

 
132

International
29

 
33

 
—

 
—

 
62

Common Collective Trust Fund – United States
—

 
4

 
—

 
—

 
4

Buy-in Annuity - International
—

 
11

 
—

 
—

 
11

Short-Term and Other Investments:
 
 
 
 
 
 
 
 
 
United States
1

 
—

 
—

 
—

 
1

International
2

 
—

 
—

 
—

 
2

Total Plan Assets
$
184

 
$
51

 
$
59

 
$
376

 
$
670

 
At December 31, 2017
 
Level 1
 
Level 2
 
Level 3
 
Valued at NAV
 
Total
Plan Assets
 
 
 
 
 
 
 
 
 
Common and Preferred Stocks:
 
 
 
 
 
 
 
 
 
United States
$
144

 
$
—

 
$
—

 
$
47

 
$
191

International
66

 
—

 
—

 
125

 
191

Private Equity and Hedge Funds:
 
 
 
 
 
 
 
 
 
United States
—

 
—

 
36

 
—

 
36

International
—

 
—

 
24

 
35

 
59

Corporate Debt Securities:
 
 
 
 
 
 
 
 
 
United States
31

 
26

 
—

 
—

 
57

International
—

 
7

 
—

 
21

 
28

Government and Other Debt Securities:
 
 
 
 
 
 
 
 
 
United States
15

 
7

 
—

 
31

 
53

International
31

 
28

 
—

 
—

 
59

Common Collective Trust Fund – United States
—

 
6

 
—

 
—

 
6

Buy-in Annuity - International
—

 
12

 
—

 
—

 
12

Short-Term and Other Investments:
 
 
 
 
 
 
 
 
 

United States
2

 
—

 
—

 
—

 
2

International
—

 
1

 
—

 
—

 
1

Total Plan Assets
$
289

 
$
87

 
$
60

 
$
259

 
$
695
Schedule of changes in the fair value of the qualified defined-benefit pension plan level 3 assets
Changes in the fair value of the qualified defined-benefit pension plan Level 3 assets, were as follows, in millions:
 
2018
 
2017
Fair Value, January 1
$
60

 
$
79

Purchases
6

 
6

Sales
(12
)
 
(31
)
Unrealized gains
5

 
6

Fair Value, December 31
$
59

 
$
60
Schedule of weighted-average major assumptions used in accounting for the Company's defined-benefit pension plans
Weighted average major assumptions used in accounting for our defined-benefit pension plans were as follows:
 
2018
 
2017
 
2016
Discount rate for obligations
3.80
%
 
3.30
%
 
3.50
%
Expected return on plan assets
7.00
%
 
7.25
%
 
7.25
%
Rate of compensation increase
—
%
 
—
%
 
—
%
Discount rate for net periodic pension cost
3.30
%
 
3.50
%
 
4.00
%
Schedule of benefits expected to be paid relating to the Company's defined-benefit pension plans
At December 31, 2018, the benefits expected to be paid in each of the next five years, and in aggregate for the five years thereafter, relating to our defined-benefit pension plans, were as follows, in millions:
 
Qualified
Plans
 
Non-Qualified
Plans
2019
$
48

 
$
13

2020
$
49

 
$
13

2021
$
50

 
$
12

2022
$
51

 
$
12

2023
$
52

 
$
12

2024 - 2028
$
263

 
$
55