EMPLOYEE RETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2015

EMPLOYEE RETIREMENT PLANS

Schedule of pre-tax expense related to retirement plans

        Pre-tax expense related to our retirement plans was as follows, in millions:

	2015		2014		2013
Defined-contribution plans	$	52	$	43	$	51
Defined-benefit plans		32		25		31
	$	84	$	68	$	82

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:

	2015						2014
	Qualified			Non-Qualified			Qualified			Non-Qualified
Changes in projected benefit obligation:
Projected benefit obligation at January 1	$	1,145		$	190		$	983		$	163
Service cost		3			—			3			—
Interest cost		41			7			41			7
Actuarial (gain) loss, net		(61	)		(11	)		184			32
Foreign currency exchange		(23	)		—			(24	)		—
Benefit payments		(46	)		(12	)		(42	)		(12	)
Projected benefit obligation at December 31	$	1,059		$	174		$	1,145		$	190
Changes in fair value of plan assets:
Fair value of plan assets at January 1	$	691		$	—		$	659		$	—
Actual return on plan assets		(12	)		—			38			—
Foreign currency exchange		(7	)		—			(8	)		—
Company contributions		38			12			49			12
Expenses, other		(6	)		—			(5	)		—
Benefit payments		(46	)		(12	)		(42	)		(12	)
Fair value of plan assets at December 31	$	658		$	—		$	691		$	—
Funded status at December 31:	$	(401	)	$	(174	)	$	(454	)	$	(190	)

Schedule of amounts in the Company's consolidated balance sheets

        Amounts in our consolidated balance sheets were as follows, in millions:

	At December 31, 2015						At December 31, 2014
	Qualified			Non-Qualified			Qualified			Non-Qualified
Other assets	$	1		$	—		$	—		$	—
Accrued liabilities		(3	)		(12	)		(2	)		(12	)
Other liabilities		(399	)		(162	)		(452	)		(178	)
Total net liability	$	(401	)	$	(174	)	$	(454	)	$	(190	)

Schedule of unrealized loss included in accumulated other comprehensive income before income taxes

        Unrealized loss included in accumulated other comprehensive income (loss) before income taxes was as follows, in millions:

	At December 31, 2015				At December 31, 2014
	Qualified		Non-Qualified		Qualified		Non-Qualified
Net loss	$	501	$	56	$	524	$	68
Net transition obligation		1		—		1		—
Net prior service cost		2		—		2		—
Total	$	504	$	56	$	527	$	68

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
	2015				2014
	Qualified		Non-Qualified		Qualified		Non-Qualified
Projected benefit obligation	$	1,045	$	174	$	1,132	$	190
Accumulated benefit obligation	$	1,045	$	174	$	1,132	$	190
Fair value of plan assets	$	643	$	—	$	677	$	—

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:

	2015					2014					2013
	Qualified			Non-Qualified		Qualified			Non-Qualified		Qualified			Non-Qualified
Service cost	$	3		$	—	$	3		$	—	$	3		$	—
Interest cost		47			7		47			7		44			6
Expected return on plan assets		(46	)		—		(45	)		—		(40	)		—
Recognized net loss		18			3		11			2		16			2
Net periodic pension cost	$	22		$	10	$	16		$	9	$	23		$	8

Schedule of the Company's qualified defined-benefit pension plan weighted average asset allocation

	2015			2014
Equity securities		49	%		46	%
Debt securities		32	%		34	%
Other		19	%		20	%
Total		100	%		100	%

Schedule of qualified defined-benefit pension plan assets at fair value

        The following table sets forth, by level within the fair value hierarchy, the qualified defined-benefit pension plan assets at fair value as of December 31, 2015 and 2014, in millions.

	At December 31, 2015
	Level 1		Level 2		Level 3		Total
Common and Preferred Stocks:
United States	$	127	$	126	$	—	$	253
International		55		14		—		69
Private Equity and Hedge Funds:
United States		—		—		52		52
International		—		—		24		24
Corporate Debt Securities:
United States		18		26		—		44
International		—		48		—		48
Government and Other Debt Securities:
United States		64		3		—		67
International		23		30		—		53
Common Collective Trust Fund –United States		—		4		—		4
Short-Term and Other Investments:
United States		2		—		—		2
International		2		21		19		42
Total Assets at Fair Value	$	291	$	272	$	95	$	658

	At December 31, 2014
	Level 1		Level 2		Level 3		Total
Common and Preferred Stocks:
United States	$	136	$	116	$	—	$	252
International		50		15		—		65
Private Equity and Hedge Funds:
United States		—		—		59		59
International		—		—		27		27
Corporate Debt Securities:
United States		15		33		—		48
International		—		75		—		75
Government and Other Debt Securities:
United States		64		2		—		66
International		24		27		—		51
Common Collective Trust Fund –United States		—		5		—		5
Short-Term and Other Investments:
United States		—		1		—		1
International		3		21		18		42
Total Assets at Fair Value	$	292	$	295	$	104	$	691

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:

	2015			2014
Fair Value, January 1	$	104		$	93
Purchases		4			13
Sales		(11	)		(9	)
Transfers, net		—			—
Unrealized (losses) gains		(2	)		7
Fair Value, December 31	$	95		$	104

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:

	2015			2014			2013
Discount rate for obligations		4.00	%		3.80	%		4.40	%
Expected return on plan assets		7.25	%		7.25	%		7.25	%
Rate of compensation increase		—	%		—	%		—	%
Discount rate for net periodic pension cost		3.80	%		4.40	%		3.80	%

Schedule of benefits expected to be paid relating to the Company's defined-benefit pension plans

        At December 31, 2015, 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
2016	$	49	$	12
2017	$	50	$	12
2018	$	51	$	12
2019	$	52	$	12
2020	$	53	$	12
2021 - 2025	$	280	$	58