XML 52 R37.htm IDEA: XBRL DOCUMENT v3.6.0.2
Pension Benefit Plans and Other Postretirement Benefits (Tables)
12 Months Ended
Dec. 31, 2016
Pension Benefit Plans and Other Postretirement Benefit Plans  
Weighted average assumptions used to determine benefit obligations and net periodic pension costs for pension plans, and accumulated postretirement benefit obligation and net postretirement benefit cost for postretirement plans

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2016

    

2015

    

2016

    

2015

 

Discount rate

 

4.17

%  

4.43

%  

2.94

%  

3.68

%  

Rate of compensation increase

 

N/A

 

2.97

%  

2.90

%  

2.84

%  

The weighted average assumptions used to determine net periodic pension costs are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

 

2016

 

2015

 

2014

 

2016

 

2015

 

2014

 

Discount rate

    

4.43

%  

4.05

%  

4.81

%  

3.68

%  

3.65

%  

4.14

%  

Rate of compensation increase

 

2.97

%  

2.96

%  

2.97

%  

2.84

%  

2.89

%  

3.31

%  

Expected long-term rate of return on assets

 

7.50

%  

8.00

%  

8.00

%  

7.15

%  

7.21

%  

7.23

%  

 

Pension Benefit Plans  
Pension Benefit Plans and Other Postretirement Benefit Plans  
Changes in the benefit obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2016

    

2015

    

2016

    

2015

 

Obligations at beginning of year

 

$

2,190

 

$

2,428

 

$

1,210

 

$

1,311

 

Change in benefit obligations:

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

 

15

 

 

24

 

 

16

 

 

15

 

Interest cost

 

 

90

 

 

96

 

 

44

 

 

44

 

Actuarial (gain) loss, including the effect of change in discount rates

 

 

36

 

 

(107)

 

 

160

 

 

(9)

 

Curtailment, settlement, and plan amendment

 

 

(200)

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

 

 

 

 

 

 

 

 

 

 

37

 

Participant contributions

 

 

 

 

 

 

 

 

2

 

 

1

 

Benefit payments

 

 

(175)

 

 

(252)

 

 

(71)

 

 

(58)

 

Other

 

 

 

 

 

1

 

 

3

 

 

 

 

Foreign currency translation

 

 

 

 

 

 

 

 

(129)

 

 

(131)

 

Net change in benefit obligations

 

 

(234)

 

 

(238)

 

 

25

 

 

(101)

 

Obligations at end of year

 

$

1,956

 

$

2,190

 

$

1,235

 

$

1,210

 

 

Changes in the fair value of the pension plans' assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2016

    

2015

    

2016

    

2015

 

Fair value at beginning of year

 

$

1,909

 

$

2,190

 

$

1,012

 

$

1,094

 

Change in fair value:

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual gain (loss) on plan assets

 

 

118

 

 

(32)

 

 

139

 

 

42

 

Benefit payments

 

 

(175)

 

 

(252)

 

 

(71)

 

 

(58)

 

Employer contributions

 

 

2

 

 

2

 

 

38

 

 

15

 

Participant contributions

 

 

 

 

 

 

 

 

2

 

 

1

 

Settlements

 

 

(200)

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

 

 

 

 

 

 

 

 

 

 

22

 

Foreign currency translation

 

 

 

 

 

 

 

 

(111)

 

 

(104)

 

Other

 

 

 

 

 

1

 

 

2

 

 

 

 

Net change in fair value of assets

 

 

(255)

 

 

(281)

 

 

(1)

 

 

(82)

 

Fair value at end of year

 

$

1,654

 

$

1,909

 

$

1,011

 

$

1,012

 

 

Funded status

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

 

2016

    

2015

    

2016

    

2015

 

Plan assets at fair value

    

$

1,654

    

$

1,909

    

$

1,011

    

$

1,012

 

Projected benefit obligations

 

 

1,956

 

 

2,190

 

 

1,235

 

 

1,210

 

Plan assets less than projected benefit obligations

 

 

(302)

 

 

(281)

 

 

(224)

 

 

(198)

 

Items not yet recognized in pension expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial loss

 

 

1,046

 

 

1,145

 

 

352

 

 

320

 

Prior service cost (credit)

 

 

1

 

 

2

 

 

(1)

 

 

(1)

 

 

 

 

1,047

 

 

1,147

 

 

351

 

 

319

 

Net amount recognized

 

$

745

 

$

866

 

$

127

 

$

121

 

 

Net amount recognized included in the Consolidated Balance Sheets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2016

    

2015

    

2016

    

2015

 

Pension assets

 

$

 —

 

$

 —

 

$

40

 

$

32

 

Current pension liability, included with other accrued liabilities

 

 

(7)

 

 

(1)

 

 

(7)

 

 

(6)

 

Pension benefits

 

 

(295)

 

 

(280)

 

 

(257)

 

 

(224)

 

Accumulated other comprehensive loss

 

 

1,047

 

 

1,147

 

 

351

 

 

319

 

Net amount recognized

 

$

745

 

$

866

 

$

127

 

$

121

 

 

Changes in plan assets and/or benefit obligations recognized in accumulated other comprehensive income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2016

    

2015

    

2016

    

2015

 

Current year actuarial (gain) loss

 

$

66

 

$

95

 

$

87

 

$

15

 

Amortization of actuarial loss

 

 

(67)

 

 

(74)

 

 

(12)

 

 

(15)

 

Settlement

 

 

(98)

 

 

 

 

 

 

 

 

 

 

 

 

 

(99)

 

 

21

 

 

75

 

 

 —

 

Translation

 

 

 

 

 

 

 

 

(43)

 

 

(31)

 

 

 

$

(99)

 

$

21

 

$

32

 

$

(31)

 

 

Components of net periodic pension cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

 

2016

 

2015

 

2014

 

2016

 

2015

 

2014

 

Service cost

    

$

15

    

$

24

    

$

22

    

$

16

    

$

15

    

$

23

 

Interest cost

 

 

90

 

 

96

 

 

105

 

 

44

 

 

44

 

 

69

 

Expected asset return

 

 

(149)

 

 

(170)

 

 

(176)

 

 

(65)

 

 

(67)

 

 

(86)

 

Amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial loss

 

 

67

 

 

74

 

 

68

 

 

13

 

 

15

 

 

18

 

Prior service credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net amortization

 

 

67

 

 

74

 

 

68

 

 

13

 

 

15

 

 

18

 

Net expense

 

$

23

 

$

24

 

$

19

 

$

8

 

$

7

 

$

24

 

 

Amounts expected to be amortized from accumulated other comprehensive income during 2015

 

 

 

 

 

 

 

 

 

    

U.S.

    

Non-U.S.

 

Amortization:

 

 

 

 

 

 

 

Actuarial loss

 

$

57

 

$

16

 

Prior service cost

 

 

1

 

 

 

 

Net amortization

 

$

58

 

$

16

 

 

Information for plans with projected and accumulated benefit obligations in excess of the fair value of plan assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Projected Benefit Obligation Exceeds 

 

Accumulated Benefit Obligation Exceeds

 

 

 

the Fair Value of Plan Assets

 

the Fair Value of Plan Assets

 

 

 

U.S.

 

Non-U.S.

 

U.S.

 

Non-U.S.

 

 

    

2016

 

2015

    

2016

 

2015

    

2016

 

2015

    

2016

 

2015

 

Projected benefit obligations

 

$

1,956

 

$

2,190

 

$

897

 

$

876

 

$

1,956

 

$

2,190

 

$

897

 

$

876

 

Accumulated benefit obligation

 

 

1,956

 

 

2,160

 

 

867

 

 

850

 

 

1,956

 

 

2,160

 

 

867

 

 

850

 

Fair value of plan assets

 

 

1,654

 

 

1,909

 

 

632

 

 

645

 

 

1,654

 

 

1,909

 

 

632

 

 

645

 

 

Fair values of defined benefit pension plan assets and target allocations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

2015

 

    

Level 1

    

Level 2

    

Level 3

 

Total

    

Level 1

    

Level 2

    

Level 3

 

Total

Cash and cash equivalents

 

$

24

 

$

 —

 

$

 —

 

$

24

 

$

30

 

$

 —

 

$

 —

 

$

30

Equity securities

 

 

 

 

 

 

 

 

 

 

 

 —

 

 

 

 

 

 

 

 

 

 

 

 —

Debt securities

 

 

37

 

 

2

 

 

 

 

 

39

 

 

16

 

 

 

 

 

 

 

 

16

Real estate

 

 

 

 

 

 

 

 

4

 

 

4

 

 

 

 

 

 

 

 

5

 

 

5

Other

 

 

 

 

 

37

 

 

6

 

 

43

 

 

 

 

 

24

 

 

6

 

 

30

Total

 

$

61

 

$

39

 

$

10

 

 

 

 

$

46

 

$

24

 

$

11

 

 

 

Investments measured at net asset value

 

 

 

 

 

 

 

 

 

 

$

901

 

 

 

 

 

 

 

 

 

 

$

931

Total non-U.S. assets at fair value

 

 

 

 

 

 

 

 

 

 

$

1,011

 

 

 

 

 

 

 

 

 

 

$

1,012

 

Reconciliation of pension plan assets recorded at fair value using significant unobservable inputs (Level 3)

 

 

 

 

 

 

 

 

 

    

2016

    

2015

 

Beginning balance

 

$

11

 

$

5

 

Net increase (decrease)

 

 

(1)

 

 

6

 

Ending balance

 

$

10

 

$

11

 

 

Estimated future benefit payments, reflecting expected future service, as appropriate, expected to be paid

 

 

 

 

 

 

 

Year(s)

    

U.S.

    

Non-U.S.

2017

 

$

157

 

$

53

2018

 

 

146

 

 

51

2019

 

 

145

 

 

54

2020

 

 

143

 

 

57

2021

 

 

140

 

 

60

2022 - 2026

 

 

656

 

 

343

 

Postretirement Benefits Other Than Pensions  
Pension Benefit Plans and Other Postretirement Benefit Plans  
Changes in the benefit obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2016

    

2015

    

2016

    

2015

 

Obligations at beginning of year

 

$

97

 

$

111

 

$

68

 

$

81

 

Change in benefit obligations:

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

 

 

 

 

 

 

 

1

 

 

1

 

Interest cost

 

 

4

 

 

4

 

 

3

 

 

3

 

Actuarial (gain) loss, including the effect of changing discount rates

 

 

(1)

 

 

(10)

 

 

9

 

 

(1)

 

Benefit payments

 

 

(9)

 

 

(8)

 

 

(2)

 

 

(3)

 

Foreign currency translation

 

 

 

 

 

 

 

 

2

 

 

(13)

 

Other

 

 

1

 

 

 

 

 

 

 

 

 

 

Net change in benefit obligations

 

 

(5)

 

 

(14)

 

 

13

 

 

(13)

 

Obligations at end of year

 

$

92

 

$

97

 

$

81

 

$

68

 

 

Funded status

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2016

    

2015

    

2016

    

2015

 

Postretirement benefit obligations

 

$

(92)

 

$

(97)

 

$

(81)

 

$

(68)

 

Items not yet recognized in net postretirement benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial gain (loss)

 

 

(21)

 

 

(23)

 

 

(6)

 

 

3

 

Prior service credit

 

 

30

 

 

38

 

 

 

 

 

 

 

 

 

 

9

 

 

15

 

 

(6)

 

 

3

 

Net amount recognized

 

$

(83)

 

$

(82)

 

$

(87)

 

$

(65)

 

 

Net amount recognized included in the Consolidated Balance Sheets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2016

    

2015

    

2016

    

2015

 

Current nonpension postretirement benefit, included with Other accrued liabilities

 

$

(8)

 

$

(8)

 

$

(3)

 

$

(2)

 

Nonpension postretirement benefits

 

 

(84)

 

 

(89)

 

 

(78)

 

 

(66)

 

Accumulated other comprehensive income (loss)

 

 

9

 

 

15

 

 

(6)

 

 

3

 

Net amount recognized

 

$

(83)

 

$

(82)

 

$

(87)

 

$

(65)

 

 

Changes in plan assets and/or benefit obligations recognized in accumulated other comprehensive income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2016

    

2015

    

2016

    

2015

 

Current year actuarial (gain) loss

 

$

(1)

 

$

(10)

 

$

9

 

$

 —

 

Amortization of actuarial loss

 

 

(1)

 

 

(2)

 

 

 

 

 

 

 

Amortization of prior service credit

 

 

8

 

 

8

 

 

 

 

 

 

 

 

 

$

6

 

$

(4)

 

$

9

 

$

 —

 

 

Components of net periodic pension cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2016

    

2015

    

2014

    

2016

    

2015

    

2014

 

Service cost

 

$

 —

 

$

 —

 

$

 —

 

$

1

 

$

1

 

$

1

 

Interest cost

 

 

4

 

 

4

 

 

5

 

 

3

 

 

3

 

 

4

 

Curtailment gain

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial loss

 

 

1

 

 

2

 

 

2

 

 

 

 

 

 

 

 

 

 

Prior service credit

 

 

(7)

 

 

(8)

 

 

(8)

 

 

 

 

 

 

 

 

 

 

Net amortization

 

 

(6)

 

 

(6)

 

 

(6)

 

 

 —

 

 

 —

 

 

 —

 

Net postretirement benefit (income) cost

 

$

(2)

 

$

(2)

 

$

(1)

 

$

4

 

$

4

 

$

5

 

 

Amounts expected to be amortized from accumulated other comprehensive income during 2015

 

 

 

 

 

 

 

 

 

    

U.S.

    

Non-U.S.

 

Amortization:

 

 

 

 

 

 

 

Actuarial loss

 

$

(1)

 

$

 —

 

Prior service credit

 

 

7

 

 

 

 

Net amortization

 

$

6

 

$

 —

 

 

Weighted average assumptions used to determine benefit obligations and net periodic pension costs for pension plans, and accumulated postretirement benefit obligation and net postretirement benefit cost for postretirement plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2016

    

2015

    

2014

    

2016

    

2015

    

2014

 

Accumulated postretirement benefit obligation

 

4.11

%  

4.35

%  

4.00

%  

3.55

%  

3.80

%  

3.75

%  

Net postretirement benefit cost

 

4.34

%  

3.99

%  

4.63

%  

3.80

%  

3.75

%  

4.47

%  

 

Weighted average assumed health care cost trend rates

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

    

2016

    

2015

    

2016

    

2015

 

Health care cost trend rate assumed for next year

 

6.40

%  

6.60

%  

5.00

%  

5.00

%  

Rate to which the cost trend rate is assumed to decline (ultimate trend rate)

 

5.00

%  

5.00

%  

5.00

%  

5.00

%  

Year that the rate reaches the ultimate trend rate

 

2024

 

2024

 

N/A

 

N/A

 

 

Effects of one-percentage-point change in assumed health care cost trend rates on amount reported for the postretirement benefit plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

Non-U.S.

 

 

 

1-Percentage-Point

 

1-Percentage-Point

 

 

    

Increase

    

Decrease

    

Increase

    

Decrease

 

Effect on total of service and interest cost

 

$

 —

 

$

 —

 

$

1

 

$

(1)

 

Effect on accumulated postretirement benefit obligations

 

 

4

 

 

(3)

 

 

13

 

 

(10)

 

 

Estimated future benefit payments, reflecting expected future service, as appropriate, expected to be paid

 

 

 

 

 

 

 

 

Year(s)

    

U.S.

    

Non-U.S.

 

2017

 

$

8

 

$

3

 

2018

 

 

8

 

 

3

 

2019

 

 

8

 

 

3

 

2020

 

 

8

 

 

3

 

2021

 

 

7

 

 

3

 

2022 - 2026

 

 

30

 

 

18