Other noncurrent assets, net

  
Reconciliation of changes in the defined benefit obligations, fair value of assets and statement of funded status were as follows:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   |  |   |  |   |
|  |  |  |
|  |  | Year Ended December 31, |
| (in millions) |  | 2021 |  | 2020 |
|  |  |  |  |  |
| Change in Benefit Obligation |  |   |  |   |
| Benefit obligation at beginning of year |  | $ | 675  |  |  | $ | 578  |  |
| Service cost |  | 17  |  |  | 16  |  |
| Interest cost |  | 3  |  |  | 5  |  |
| Participant contributions |  | 4  |  |  | 4  |  |
| Actuarial losses (gains) |  | (16) |  |  | 31  |  |
| Plan amendments |  | (1) |  |  | —  |  |
| Acquisitions/Divestitures |  | (2) |  |  | —  |  |
| Effect of exchange rate changes |  | (41) |  |  | 59  |  |
|  |  |  |  |  |
| Plan curtailments and settlements |  | (1) |  |  | (1) |  |
| Benefits paid |  | (19) |  |  | (17) |  |
| Benefit obligation at end of year |  | $ | 619  |  |  | $ | 675  |  |
|  |  |  |  |  |
| Change in Plan Assets |  |   |  |   |
| Fair value of plan assets at beginning of year |  | $ | 213  |  |  | $ | 185  |  |
| Actual return on assets |  | 10  |  |  | 9  |  |
| Plan settlements |  | (1) |  |  | —  |  |
| Acquisitions/Divestitures |  | (3) |  |  | —  |  |
| Effect of exchange rate changes |  | (7) |  |  | 17  |  |
| Employer contributions |  | 15  |  |  | 15  |  |
| Participant contributions |  | 4  |  |  | 4  |  |
| Benefits paid |  | (19) |  |  | (17) |  |
| Fair value of plan assets at end of year |  | $ | 212  |  |  | $ | 213  |  |
|  |  |  |  |  |
| Funded status at end of year |  | $ | (407) |  |  | $ | (462) |  |

  
The amounts recognized in the accompanying Consolidated Balance Sheets, net of tax effects, were as follows: 

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Location In The |  | Year Ended December 31, |
| (in millions) |  | Consolidated Balance Sheets |  | 2021 |  | 2020 |
|  |  |  |  |  |  |  |
| Other noncurrent assets, net |  | Other noncurrent assets |  | $ | 2  |  |  | $ | —  |  |
| Deferred tax asset |  | Other noncurrent assets |  | 36  |  |  | 49  |  |
| Total assets |  |  |  | $ | 38  |  |  | $ | 49  |  |
|  |  |  |  |  |  |  |
| Current liabilities |  | Accrued liabilities |  | (9) |  |  | (10) |  |
| Other noncurrent liabilities |  | Other noncurrent liabilities |  | (400) |  |  | (452) |  |
| Deferred tax liability |  | Deferred income taxes |  | (1) |  |  | (1) |  |
| Total liabilities |  |  |  | $ | (410) |  |  | $ | (463) |  |
|  |  |  |  |  |  |  |
| Accumulated other comprehensive income |  | Accumulated other comprehensive loss |  | 105  |  |  | 139  |  |
| Net amount recognized |  |  |  | $ | (267) |  |  | $ | (275) |  |

  
103
