Rendering

Component: (Network and Table)
Network
2333301 - Disclosure - Benefit Plans (Tables)
(http://www.cna.com/role/BenefitPlansTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Compensation and Retirement Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Compensation and Retirement Disclosure [Abstract]
 
Funded status
The following table presents a reconciliation of benefit obligations and plan assets.
 
Pension Benefits
 
Postretirement Benefits
(In millions)
2016
 
2015
 
2016
 
2015
Benefit obligation as of January 1
$
2,821

 
$
3,019

 
$
23

 
$
29

Changes in benefit obligation:
 
 
 
 
 
 
 
Service cost
—

 
4

 
—

 
—

Interest cost
113

 
112

 
—

 
1

Participants' contributions
—

 
—

 
4

 
4

Plan amendments
—

 
(55
)
 
—

 
—

Actuarial (gain) loss
68

 
(79
)
 
(6
)
 
(3
)
Benefits paid
(173
)
 
(173
)
 
(7
)
 
(8
)
Foreign currency translation and other
(14
)
 
(7
)
 
1

 
—

Settlement through group annuity purchase
(86
)
 
—

 
—

 
—

Benefit obligation as of December 31
2,729

 
2,821


15


23

Fair value of plan assets as of January 1
2,267

 
2,456

 
—

 
—

Change in plan assets:
 
 
 
 
 
 
 
Actual return on plan assets
193

 
(18
)
 
—

 
—

Company contributions
9

 
10

 
3

 
4

Participants' contributions
—

 
—

 
4

 
4

Benefits paid
(173
)
 
(173
)
 
(7
)
 
(8
)
Foreign currency translation and other
(15
)
 
(8
)
 
—

 
—

Settlement through group annuity purchase
(88
)
 
—

 
—

 
—

Fair value of plan assets as of December 31
2,193

 
2,267

 
—

 
—

Funded status
$
(536
)
 
$
(554
)
 
$
(15
)
 
$
(23
)
Amounts recognized on the Consolidated Balance Sheets as of December 31:
 
 
 
 
 
 
 
Other assets
$
4

 
$
12

 
$
—

 
$
—

Other liabilities
(540
)
 
(566
)
 
(15
)
 
(23
)
Net amount recognized
$
(536
)
 
$
(554
)
 
$
(15
)
 
$
(23
)
Amounts recognized in Accumulated other comprehensive income, not yet recognized in net periodic cost (benefit):
 
 
 
 
 
 
 
Prior service credit
$
—

 
$
—

 
$
(4
)
 
$
(6
)
Net actuarial loss
999

 
999

 
(3
)
 
3

Net amount recognized
$
999

 
$
999

 
$
(7
)
 
$
(3
)
 
 
Components of net periodic cost (benefit)
The components of net periodic cost (benefit) are presented in the following table.
Years ended December 31
 
 
 
 
 
(In millions)
2016
 
2015
 
2014
Pension cost (benefit)
 
 
 
 
 
Service cost
$
—

 
$
4

 
$
9

Interest cost on projected benefit obligation
113

 
112

 
132

Expected return on plan assets
(160
)
 
(174
)
 
(191
)
Amortization of net actuarial loss
37

 
34

 
25

Settlement loss
—

 
—

 
84

Net periodic pension cost (benefit)
$
(10
)
 
$
(24
)
 
$
59

 
 
 
 
 
 
Postretirement cost (benefit)
 
 
 
 
 
Interest cost on projected benefit obligation
$
—

 
$
1

 
$
1

Amortization of prior service credit
(2
)
 
(3
)
 
(10
)
Amortization of net actuarial loss
—

 
1

 
1

Curtailment gain
—


—


(86
)
Net periodic postretirement cost (benefit)
$
(2
)
 
$
(1
)
 
$
(94
)
 
 
Schedule of amounts recognized in Other comprehensive income
The amounts recognized in Other comprehensive income are presented in the following table.
Years ended December 31
 
 
 
 
 
(In millions)
2016
 
2015
 
2014
Pension and postretirement benefits
 
 
 
 
 
Amounts arising during the period
$
(29
)
 
$
(111
)
 
$
(337
)
Curtailment and other
—

 
56

 
(81
)
Settlement
—

 
—

 
84

Reclassification adjustment relating to prior service credit
(2
)
 
(3
)
 
(10
)
Reclassification adjustment relating to actuarial loss
37

 
35

 
26

Settlement through group annuity purchase
(2
)
 
—

 
—

Total increase (decrease) in Other comprehensive income
$
4

 
$
(23
)
 
$
(318
)
 
 
Schedule of estimated amounts to be recognized from Accumulated other comprehensive income into net periodic cost (benefit) during next fiscal year
The table below presents the estimated amounts to be recognized from AOCI into net periodic cost (benefit) during 2017.
(In millions)
Pension
Benefits
 
Postretirement Benefits
Amortization of prior service credit
$
—

 
$
(2
)
Amortization of net actuarial loss
36

 
—

Total estimated amounts to be recognized
$
36

 
$
(2
)
    
 
 
Actuarial assumptions for benefit obligations and for net cost or benefit
Actuarial assumptions used for the CNA Retirement Plan and CNA Health and Group Benefits Program to determine benefit obligations are presented in the following table.
December 31
2016
 
2015
Pension benefits
 
 
 
Discount rate
3.950
%
 
4.150
%
Expected long term rate of return
7.500

 
7.500

Postretirement benefits
 
 
 
Discount rate
2.750
%
 
2.750
%
Actuarial assumptions used for the CNA Retirement Plan and CNA Health and Group Benefits Program to determine net cost or benefit are presented in the following table.
Years ended December 31
2016
 
2015
 
2014
Pension benefits
 
 
 
 
 
Discount rate
4.150
%
 
3.850%/4.000%

 
4.650
%
Expected long term rate of return
7.500

 
7.500

 
7.500

Rate of compensation increases
N/A

 
3.920

 
3.990

Postretirement benefits
 
 
 
 
 
Discount rate
2.750
%
 
2.500
%
 
3.600%/3.100%

 
 
Fair value of plan assets measured on a recurring basis
Pension plan assets measured at fair value on a recurring basis as well as cash are presented in the following tables.
December 31, 2016
 
 
 
 
 
 
 
 
(In millions)
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets
 
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
 
Corporate and other bonds
 
$
—

 
$
500

 
$
10

 
$
510

States, municipalities and political subdivisions
 
—

 
63

 
—

 
63

Asset-backed:
 
 
 
 
 
 
 
 
Residential mortgage-backed
 
—

 
109

 
—

 
109

Commercial mortgage-backed
 
—

 
66

 
—

 
66

Other asset-backed
 
—

 
4

 
—

 
4

Total asset-backed
 
—

 
179

 
—

 
179

Total fixed maturity securities
 
—

 
742

 
10

 
752

Equity securities
 
363

 
105

 
—

 
468

Derivative financial instruments
 
—

 
—

 
—

 
—

Short term investments
 
11

 
35

 
—

 
46

Other assets
 
—

 
37

 
—

 
37

Cash
 
14

 
—

 
—

 
14

Total assets measured at fair value
 
$
388

 
$
919

 
$
10

 
1,317

Total limited partnerships measured at net asset value (1)
 
 
 
 
 
 
 
876

Total plan assets
 
 
 
 
 
 
 
$
2,193

December 31, 2015
 
 
 
 
 
 
 
 
(In millions)
 
Level 1
 
Level 2
 
Level 3
 
Total Assets
Assets
 
 
 
 
 
 
 
 
Fixed maturity securities:
 
 
 
 
 
 
 
 
Corporate and other bonds
 
$
—

 
$
455

 
$
10

 
$
465

States, municipalities and political subdivisions
 
—

 
106

 
—

 
106

Asset-backed:
 
 
 
 
 
 
 
 
Residential mortgage-backed
 
—

 
133

 
—

 
133

Commercial mortgage-backed
 
—

 
69

 
—

 
69

   Other asset-backed
 
—

 
11

 
—

 
11

Total asset-backed
 
—

 
213

 
—

 
213

Total fixed maturity securities
 
—

 
774

 
10

 
784

Equity securities
 
336

 
107

 
—

 
443

Derivative financial instruments
 
1

 
—

 
—

 
1

Short term investments
 
24

 
28

 
—

 
52

Other assets
 
—

 
52

 
—

 
52

Total assets measured at fair value
 
$
361

 
$
961

 
$
10

 
1,332

Total limited partnerships measured at net asset value (1)
 


 


 


 
935

Total plan assets
 

 

 

 
$
2,267

(1) In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position.
 
 
Reconciliation of level 3 plan assets
The tables below present a reconciliation for all pension plan assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3).
Level 3
(In millions)
Balance as of January 1, 2016
 
Actual return on assets still held as of
December 31, 2016
 
Actual return on assets sold during the year ended December 31, 2016
 
Purchases, sales and settlements
 
Net transfers into (out of) Level 3
 
Balance as of December 31, 2016
Fixed maturity securities:
 
 
 
 
 
 
 
 
 
 
 
Corporate and other bonds
$
10

 
$
—

 
$
—

 
$
—

 
$
—

 
$
10

Total
$
10


$
—


$
—


$
—


$
—


$
10

Level 3
(In millions)
Balance as of January 1, 2015
 
Actual return on assets still held as of
December 31, 2015
 
Actual return on assets sold during the year ended December 31, 2015
 
Purchases, sales and settlements
 
Net transfers into (out of) Level 3
 
Balance as of December 31, 2015
Fixed maturity securities:
 
 
 
 
 
 
 
 
 
 
 
Corporate and other bonds
$
15

 
$
—

 
$
—

 
$
—

 
$
(5
)
 
$
10

Total
$
15

 
$
—

 
$
—

 
$
—

 
$
(5
)
 
$
10

 
 
Estimated future minimum benefit payments to participants
The table below presents the estimated future minimum benefit payments to participants as of December 31, 2016.
(In millions)
Pension Benefits
 
Postretirement Benefits
2017
$
178

 
$
3

2018
178

 
2

2019
177

 
2

2020
178

 
2

2021
178

 
2

2022-2026
883

 
3