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