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Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Retirement Benefits [Abstract]  
Schedule of Net Funded Status
The following table reconciles the Company's funded status, both domestic and foreign, as of the periods indicated (in millions):
 
 
2017
 
2016
 
 
U.S.
 
Foreign
 
U.S.
 
Foreign
CHANGE IN PROJECTED BENEFIT OBLIGATION:
 
 
 
 
 
 
 
 
Benefit obligation as of January 1
 
$
1,188

 
$
411

 
$
1,172

 
$
374

Service cost
 
13

 
10

 
13

 
9

Interest cost
 
41

 
22

 
42

 
21

Employee contributions
 
—

 
1

 
—

 
1

Plan amendments
 
1

 
(1
)
 
—

 
(4
)
Plan curtailments
 
3

 
—

 
2

 
—

Plan settlements
 
—

 
(2
)
 
—

 
—

Benefits paid
 
(71
)
 
(22
)
 
(60
)
 
(19
)
Actuarial loss
 
82

 
29

 
19

 
58

Effect of foreign currency exchange rate changes
 
—

 
22

 
—

 
(29
)
Benefit obligation as of December 31
 
$
1,257

 
$
470

 
$
1,188

 
$
411

CHANGE IN PLAN ASSETS:
 
 
 
 
 
 
 
 
Fair value of plan assets as of January 1
 
$
1,044

 
$
402

 
$
1,021

 
$
379

Actual return on plan assets
 
141

 
31

 
61

 
59

Employer contributions
 
13

 
18

 
22

 
18

Employee contributions
 
—

 
1

 
—

 
1

Plan settlements
 
—

 
(2
)
 
—

 
—

Benefits paid
 
(71
)
 
(22
)
 
(60
)
 
(19
)
Effect of foreign currency exchange rate changes
 
—

 
27

 
—

 
(36
)
Fair value of plan assets as of December 31
 
$
1,127

 
$
455

 
$
1,044

 
$
402

RECONCILIATION OF FUNDED STATUS
 
 
 
 
 
 
 
 
Funded status as of December 31
 
$
(130
)
 
$
(15
)
 
$
(144
)
 
$
(9
)
Schedule of Amounts Recognized in Balance Sheet
The following table summarizes the amounts recognized on the Consolidated Balance Sheets related to the funded status of the DB Plans, both domestic and foreign, as of the periods indicated (in millions):
December 31,
 
2017
 
2016
Amounts Recognized on the Consolidated Balance Sheets
 
U.S.
 
Foreign
 
U.S.
 
Foreign
Noncurrent assets
 
$
—

 
$
69

 
$
—

 
$
60

Accrued benefit liability—current
 
—

 
(6
)
 
—

 
(5
)
Accrued benefit liability—noncurrent
 
(130
)
 
(78
)
 
(144
)
 
(64
)
Net amount recognized at end of year
 
$
(130
)
 
$
(15
)
 
$
(144
)
 
$
(9
)
Schedule of Accumulated and Projected Benefit Obligations
The following table summarizes the Company's U.S. and foreign accumulated benefit obligation as of the periods indicated (in millions):
December 31,
2017
 
2016
 
U.S.
 
Foreign
 
U.S.
 
Foreign
Accumulated Benefit Obligation
$
1,236

 
$
433

 
$
1,167

 
$
384

Information for pension plans with an accumulated benefit obligation in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligation
$
1,257

 
$
109

 
$
1,188

 
$
90

Accumulated benefit obligation
1,236

 
97

 
1,167

 
80

Fair value of plan assets
1,127

 
33

 
1,044

 
25

Information for pension plans with a projected benefit obligation in excess of plan assets:
 
 
 
 
 
 
 
Projected benefit obligation
$
1,257

 
$
238

 
$
1,188

 
$
212

Fair value of plan assets
1,127

 
154

 
1,044

 
142
Schedule of Assumptions Used
The following table summarizes the significant weighted average assumptions used in the calculation of benefit obligation and net periodic benefit cost, both domestic and foreign, as of the periods indicated:
December 31,
 
2017
 
2016
 
 
 
U.S.
 
Foreign
 
U.S.
 
Foreign
 
Benefit Obligation:
Discount rate
3.67
%
 
5.23
%
 
4.28
%
 
5.83
%
 
 
Rate of compensation increase
3.34
%
 
4.65
%
 
3.34
%
 
4.86
%
 
Periodic Benefit Cost:
Discount rate
4.28
%
 
5.83
%
(1) 
4.44
%
 
6.10
%
(1) 
 
Expected long-term rate of return on plan assets
6.67
%
 
5.30
%
 
6.67
%
 
5.09
%
 
 
Rate of compensation increase
3.34
%
 
4.86
%
 
3.34
%
 
4.45
%
 
_____________________________
(1) 
Includes an inflation factor that is used to calculate future periodic benefit cost, but is not used to calculate the benefit obligation.
Impact Of One Percent Change In Assumptions
The impact on pension expense from a one percentage point change in these assumptions is shown in the following table (in millions):
Increase of 1% in the discount rate
 
$
(13
)
Decrease of 1% in the discount rate
 
12

Increase of 1% in the long-term rate of return on plan assets
 
(15
)
Decrease of 1% in the long-term rate of return on plan assets
 
15
Schedule of Net Benefit Costs
The following table summarizes the components of the net periodic benefit cost, both domestic and foreign, for the years indicated (in millions):
December 31,
 
2017
 
2016
 
2015
Components of Net Periodic Benefit Cost:
 
U.S.
 
Foreign
 
U.S.
 
Foreign
 
U.S.
 
Foreign
Service cost
 
$
13

 
$
10

 
$
13

 
$
9

 
$
16

 
$
10

Interest cost
 
41

 
23

 
42

 
21

 
48

 
23

Expected return on plan assets
 
(69
)
 
(21
)
 
(68
)
 
(19
)
 
(70
)
 
(20
)
Amortization of prior service cost
 
6

 
—

 
7

 
(1
)
 
7

 
—

Amortization of net loss
 
18

 
2

 
18

 
2

 
20

 
2

Curtailment loss recognized
 
4

 
—

 
4

 
—

 
—

 
—

Total pension cost
 
$
13

 
$
14

 
$
16

 
$
12

 
$
21

 
$
15
Schedule of Net Periodic Benefit Cost Not yet Recognized
The following table summarizes in millions the amounts reflected in AOCL, including AOCL attributable to noncontrolling interests, on the Consolidated Balance Sheet as of December 31, 2017, that have not yet been recognized as components of net periodic benefit cost and amounts expected to be reclassified to earnings in the next fiscal year (in millions):
December 31, 2017
Accumulated Other Comprehensive Income (Loss)
 
Amounts expected to be reclassified to earnings in next fiscal year
 
U.S.
 
Foreign
 
U.S.
 
Foreign
Prior service cost
$
(1
)
 
$
1

 
$
—

 
$
—

Unrecognized net actuarial loss
(22
)
 
(81
)
 
(2
)
 
(3
)
Total
$
(23
)
 
$
(80
)
 
$
(2
)
 
$
(3
)
Target / Actual Allocation Of Pension Plan Asset
The following table summarizes the Company's target allocation for 2017 and pension plan asset allocation, both domestic and foreign, as of the periods indicated:
 
 
 
 
 
Percentage of Plan Assets as of December 31,
 
Target Allocations
 
2017
 
2016
Asset Category
U.S.
 
Foreign
 
U.S.
 
Foreign
 
U.S.
 
Foreign
Equity securities
33%
 
4%
 
31.90
%
 
4.61
%
 
50.96
%
 
18.66
%
Debt securities
65%
 
93%
 
64.53
%
 
93.10
%
 
45.88
%
 
78.35
%
Real estate
2%
 
—%
 
3.20
%
 
0.44
%
 
3.16
%
 
0.75
%
Other
—%
 
3%
 
0.37
%
 
1.85
%
 
—
%
 
2.24
%
Total pension assets
 
 
 
 
100.00
%
 
100.00
%
 
100.00
%
 
100.00
%
Schedule of Allocation of Plan Assets
The asset allocation is reviewed periodically to determine a suitable asset allocation which seeks to manage risk through portfolio diversification and takes into account the above-stated objectives, in conjunction with current funding levels, cash flow conditions and economic and industry trends. The following table summarizes the Company's U.S. DB Plan assets by category of investment and level within the fair value hierarchy as of the periods indicated (in millions):
 
 
December 31, 2017
 
December 31, 2016
U.S. Plans
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
Equity securities:
Mutual funds
$
359

 
$
—

 
$
—

 
$
359

 
$
532

 
$
—

 
$
—

 
$
532

Debt securities:
Government debt securities
135

 
—

 
—

 
135

 
86

 
—

 
—

 
86

 
Mutual funds (1)
593

 
—

 
—

 
593

 
393

 
—

 
—

 
393

Real estate:
Real estate
—

 
36

 
—

 
36

 
—

 
33

 
—

 
33

Other:
Cash and cash equivalents
4

 
—

 
—

 
4

 
—

 
—

 
—

 
—

 
Total plan assets
$
1,091

 
$
36

 
$
—

 
$
1,127

 
$
1,011

 
$
33

 
$
—

 
$
1,044

_____________________________
(1) 
Mutual funds categorized as debt securities consist of mutual funds for which debt securities are the primary underlying investment
Fair Value Of Plan Assets By Category / Level (Foreign)
The investment strategy of the foreign DB Plans seeks to maximize return on investment while minimizing risk. The assumed asset allocation has less exposure to equities in order to closely match market conditions and near term forecasts. The following table summarizes the Company's foreign DB plan assets by category of investment and level within the fair value hierarchy as of the periods indicated (in millions):
 
 
December 31, 2017
 
December 31, 2016
Foreign Plans
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
Equity securities:
Mutual funds
$
20

 
$
—

 
$
—

 
$
20

 
$
71

 
$
—

 
$
—

 
$
71

 
Private equity
—

 
—

 
1

 
1

 
—

 
—

 
4

 
4

Debt securities:
Government debt securities
11

 
—

 
—

 
11

 
10

 
—

 
—

 
10

 
Mutual funds (1)
323

 
90

 
—

 
413

 
215

 
90

 
—

 
305

Real estate:
Real estate
—

 
—

 
2

 
2

 
—

 
—

 
3

 
3

Other:
Participant loans (2)
—

 
—

 
—

 
—

 
—

 
—

 
2

 
2

 
Other assets
1

 
—

 
7

 
8

 
4

 
—

 
3

 
7

 
Total plan assets
$
355

 
$
90

 
$
10

 
$
455

 
$
300

 
$
90

 
$
12

 
$
402


_____________________________
(1) 
Mutual funds categorized as debt securities consist of mutual funds for which debt securities are the primary underlying investment.
(2) 
Loans to participants are stated at cost, which approximates fair value
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
.
Scheduled Cash Flows For Employer Contributions And Expected Future Benefit Payments
The following table summarizes the estimated cash flows for U.S. and foreign expected employer contributions and expected future benefit payments, both domestic and foreign (in millions):
 
 
U.S.
 
Foreign
Expected employer contribution in 2018
 
$
39

 
$
15

Expected benefit payments for fiscal year ending:
 
 
 
 
2018
 
71

 
23

2019
 
73

 
23

2020
 
74

 
25

2021
 
75

 
26

2022
 
76

 
27

2023 - 2027
 
380

 
170