Pension Plans and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2017

Pension Plans and Other Postretirement Benefits

Schedule of Changes in Projected Benefit Obligation

The following tables outline the change in benefit obligations and plan assets over the comparable periods:

In millions	2017		2016
Change in benefit obligation:
Benefit obligation at beginning of year	$	844	$	844
Interest cost		20		27
Actuarial loss (gain)		(31)		13
Benefit payments		(35)		(37)
Settlements		(667)		(3)
Benefit obligation at end of year	$	131	$	844

Schedule of Changes in Fair Value of Plan Assets

In millions	2017		2016
Change in plan assets:
Fair value of plan assets at the beginning of the year	$	624	$	613
Actual return on plan assets		32		26
Employer contributions		46		25
Benefit payments		(35)		(37)
Settlements		(667)		(3)
Fair value of plan assets at the end of the year		—		624
Funded status	$	(131)	$	(220)

Schedule of Net Benefit Costs

The components of net periodic benefit costs for the years ended December 31 are shown below:

In millions	2017		2016		2015
Components of net periodic benefit cost:
Interest cost	$	20	$	27	$	31
Expected return on plan assets		(20)		(32)		(33)
Amortization of net loss		21		32		21
Settlement losses		187		—		—
Net periodic pension cost	$	208	$	27	$	19

Schedule of Allocation of Plan Assets

The following tables show the fair value allocation of plan assets by asset category as of December 31, 2016.

	Fair value of plan assets at December 31, 2016
	Level 1		Level 2		Level 3		Total
Cash and money market funds	$	8	$	—	$	—	$	8
Fixed income funds		3		580		—		583
Equity mutual funds		33		—		—		33
Total assets at fair value	$	44	$	580	$	—	$	624

Schedule of Expected Benefit Payments

The Company estimates the following future benefit payments which are calculated using the same actuarial assumptions used to measure the benefit obligation as of December 31, 2017:

In millions
2018	$	21
2019		14
2020		12
2021		23
2022		8
Thereafter		31