Rendering

Component: (Network and Table)
Network
2314301 - Disclosure - Pension and Other Postretirement Benefit Plans (Tables)
(http://www.resolutefp.com/role/PensionAndOtherPostretirementBenefitPlansTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001393066 (http://www.sec.gov/CIK)
Compensation and Retirement Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Compensation and Retirement Disclosure [Abstract]
 
Summary of Changes in Benefit Obligations
 
Pension Plans
 
OPEB Plans
(In millions)
2016
 
 
2015
 
 
 
2016
 
 
2015
 
 
Change in benefit obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
Benefit obligations as of beginning of year
$
5,068

 
$
6,229

 
 
$
174

 
$
210

 
Service cost
 
20

 
 
23

 
 
 
1

 
 
1

 
Interest cost
 
215

 
 
225

 
 
 
7

 
 
8

 
Actuarial loss (gain)
 
169

 
 
(140
)
 
 
 
—

 
 
(11
)
 
Participant contributions
 
8

 
 
7

 
 
 
2

 
 
2

 
Plan amendment
 
1

 
 
—

 
 
 
—

 
 
—

 
Settlements
 
(28
)
 
 
(65
)
 
 
 
—

 
 
—

 
Benefits paid
 
(380
)
 
 
(410
)
 
 
 
(15
)
 
 
(15
)
 
Effect of foreign currency exchange rate changes
 
123

 
 
(801
)
 
 
 
3

 
 
(21
)
 
Benefit obligations as of end of year
 
5,196

 
 
5,068

 
 
 
172

 
 
174

 
  
Summary of Change in Plan Assets
Change in plan assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair value of plan assets as of beginning of year
 
4,049

 
 
4,808

 
 
 
—

 
 
—

 
Actual return on plan assets
 
184

 
 
224

 
 
 
—

 
 
—

 
Employer contributions
 
141

 
 
123

 
 
 
13

 
 
13

 
Participant contributions
 
8

 
 
7

 
 
 
2

 
 
2

 
Settlements
 
(28
)
 
 
(65
)
 
 
 
—

 
 
—

 
Benefits paid
 
(380
)
 
 
(410
)
 
 
 
(15
)
 
 
(15
)
 
Effect of foreign currency exchange rate changes
 
99

 
 
(638
)
 
 
 
—

 
 
—

 
Fair value of plan assets as of end of year
 
4,073

 
 
4,049

 
 
 
—

 
 
—

 
Funded status as of end of year
$
(1,123
)
 
$
(1,019
)
 
 
$
(172
)
 
$
(174
)
 
  
Summary of Amounts Recognized in Consolidated Balance Sheets
Amounts recognized in our Consolidated Balance Sheets consisted of:
 
 
 
 
 
 
 
 
 
 
 
 
 
Other assets
$
3

 
$
10

 
 
$
—

 
$
—

 
Accounts payable and accrued liabilities
 
(3
)
 
 
(3
)
 
 
 
(14
)
 
 
(14
)
 
Pension and OPEB obligations
 
(1,123
)
 
 
(1,026
)
 
 
 
(158
)
 
 
(160
)
 
Net obligations recognized
$
(1,123
)
 
$
(1,019
)
 
 
$
(172
)
 
$
(174
)
 
  
Components of Net Periodic Benefit Cost Relating to Pension and OPEB Plans
The components of net periodic benefit cost relating to our pension and OPEB plans for the years ended December 31, 2016, 2015 and 2014, were as follows:
 
Pension Plans
 
OPEB Plans
(In millions)
2016
 
 
2015
 
 
2014
 
 
 
2016
 
 
2015
 
 
2014
 
 
Service cost
$
20

 
$
23

 
$
26

 
 
$
1

 
$
1

 
$
1

 
Interest cost
 
215

 
 
225

 
 
274

 
 
 
7

 
 
8

 
 
11

 
Expected return on plan assets
 
(247
)
 
 
(260
)
 
 
(300
)
 
 
 
—

 
 
—

 
 
—

 
Amortization of prior service credits
 
(1
)
 
 
(2
)
 
 
(2
)
 
 
 
(15
)
 
 
(14
)
 
 
(11
)
 
Amortization of actuarial losses (gains)
 
54

 
 
84

 
 
9

 
 
 
(5
)
 
 
(5
)
 
 
(4
)
 
Net periodic benefit cost before special events
 
41

 
 
70

 
 
7

 
 
 
(12
)
 
 
(10
)
 
 
(3
)
 
Curtailments and settlements
 
—

 
 
14

 
 
4

 
 
 
—

 
 
—

 
 
—

 
 
$
41

 
$
84

 
$
11

 
 
$
(12
)
 
$
(10
)
 
$
(3
)
 
  
Weighted-Average Assumptions Used to Determine Projected Benefit Obligations and Net Periodic Benefit Cost
The weighted-average assumptions used to determine the benefit obligations at the measurement dates and the net periodic benefit cost for the years ended December 31, 2016, 2015 and 2014, were as follows:
 
Pension Plans
 
OPEB Plans
 
2016

 
2015

 
2014

 
2016

 
2015

 
2014

Benefit obligations:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
3.8
%
 
4.2
%
 
4.0
%
 
3.9
%
 
4.4
%
 
4.0
%
Rate of compensation increase
2.5
%
 
2.5
%
 
2.5
%
 


 


 


Net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Discount rate
4.2
%
 
4.0
%
 
4.9
%
 
4.4
%
 
4.1
%
 
5.0
%
Expected return on assets
6.2
%
 
6.3
%
 
6.5
%
 


 


 


Rate of compensation increase
2.5
%
 
2.5
%
 
2.5
%
 


 


 


  
Assumed Health Care Cost Trend Rates Used to Determine Benefit Obligations
The assumed health care cost trend rates used to determine the benefit obligations for our domestic and foreign OPEB plans as of December 31, 2016 and 2015, were as follows:
 
2016
 
2015
 
Domestic Plans
Foreign Plans
 
Domestic Plans
Foreign Plans
Health care cost trend rate assumed for next year
7.0
%
 
4.2
%
 
 
7.2
%
 
4.4
%
 
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)
4.5
%
 
4.0
%
 
 
4.5
%
 
3.8
%
 
Year that the rate reaches the ultimate trend rate
2028

 
2028

 
 
2028

 
2033

 
  
Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rate
Variations of the health care cost trend rate can have a significant effect on the amounts reported. A 1% change in this assumption would have had the following impact on our 2016 OPEB obligation and costs for our domestic and foreign plans:
 
1% Increase
 
1% Decrease
(In millions, except percentages)
Domestic Plans
Foreign Plans
 
Domestic Plans
Foreign Plans
OPEB obligation
$
4

 
6
%
 
$
5

 
4
%
 
 
$
(3
)
 
(5
)%
 
$
(4
)
 
(4
)%
 
Service and interest costs
$
—

 
6
%
 
$
—

 
6
%
 
 
$
—

 
(5
)%
 
$
—

 
(5
)%
 
  
Fair Value of Plan Assets Held by Pension Plans
The fair value of plan assets held by our pension plans as of December 31, 2016, was as follows:
(In millions)
Total
 
 
Level 1
 
 
Level 2
 
 
Equity securities:
 
 
 
 
 
 
 
 
 
U.S. companies
$
865

 
$
865

 
$
—

 
Non-U.S. companies
 
889

 
 
889

 
 
—

 
Debt securities:
 
 
 
 
 
 
 
 
 
Corporate and government securities
 
1,281

 
 
163

 
 
1,118

 
Asset-backed securities
 
71

 
 
—

 
 
71

 
Cash and cash equivalents
 
320

 
 
320

 
 
—

 
Accrued interest and dividends
 
45

 
 
—

 
 
45

 
Total before investments measured at NAV
$
3,471

 
$
2,237

 
$
1,234

 
Investments measured at NAV
 
602

 
 
 
 
 
 
 
 
$
4,073

 
 
 
 
 
 
 
The fair value of plan assets held by our pension plans as of December 31, 2015, was as follows:
(In millions)
Total
 
 
Level 1
 
 
Level 2
 
 
Equity securities:
 
 
 
 
 
 
 
 
 
U.S. companies
$
587

 
$
587

 
$
—

 
Non-U.S. companies
 
626

 
 
626

 
 
—

 
Debt securities:
 
 
 
 
 
 
 
 
 
Corporate and government securities
 
2,243

 
 
274

 
 
1,969

 
Asset-backed securities
 
97

 
 
—

 
 
97

 
Cash and cash equivalents
 
191

 
 
191

 
 
—

 
Accrued interest and dividends
 
36

 
 
—

 
 
36

 
Total before investments measured at NAV
$
3,780

 
$
1,678

 
$
2,102

 
Investments measured at NAV
 
269

 
 
 
 
 
 
 
 
$
4,049

 
 
 
 
 
 
 
  
Expected Benefit Payments and Future Contributions
As of December 31, 2016, benefit payments expected to be paid over the next 10 years are as follows:
(In millions)
Pension Plans (1)
OPEB Plans
2017
$
355

 
$
14

 
2018
 
352

 
 
14

 
2019
 
350

 
 
14

 
2020
 
346

 
 
13

 
2021
 
342

 
 
13

 
2022 - 2026
 
1,637

 
 
60

 

(1) 
Benefit payments are expected be paid from the plans’ net assets.