Employee Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2019

Retirement Benefits [Abstract]

Schedule of Funded Status of Defined Benefit Pension Plans

Upon acquisition, the Company recognized the funded status of the assumed defined benefit pension plans, measured as the difference between the fair value of the plan assets and the projected benefit obligation, in the consolidated balance sheet as follows:

(In millions)	July 29, 2019
U.K. plan
Plan benefit obligations	$	(674	)
Fair value of plan assets	850
Net pension assets (1)	$	176
U.S. and other plans
Plan benefit obligations	$	(217	)
Fair value of plan assets	161
Net pension liabilities (2)	$	(56	)
Funded status of the plans	$	120

⁽¹⁾  Pension assets are included in other long-term assets in the consolidated balance sheet

⁽²⁾ 

Pension liabilities are included in other long-term liabilities in the consolidated balance sheet

Schedule of Weighted-Average Rate Assumptions

The weighted-average rate assumptions used in the measurement of the Company’s projected benefit obligations as of July 29, 2019 and net periodic benefit expense during the three and nine months ended September 30, 2019 were as follows:

	Projected Benefit Obligation		Net Periodic Benefit Expense
Discount rate	2.35	%	2.74	%
Expected long-term return on plan assets	n/a		2.79	%

Schedule of Expected Future Benefit Payments

The estimated future benefit payments are expected to be as follows:

(In millions)
Year ended December 31,
2019	$	28
2020	30
2021	32
2022	34
2023	36
Thereafter	194
Total	$	354

Schedule of Components of Net Periodic Benefit Expense

The components of net periodic benefit expense were as follows:

(In millions)	Three and Nine Months Ended September 30, 2019
Service costs	$	1
Interest costs	3
Expected return on plan assets	(5		)
Net periodic benefit expense	$	(1	)