Rendering

Component: (Network and Table)
Network
2319301 - Disclosure - Employee Benefit Plans (Tables)
(http://www.adm.com/role/EmployeeBenefitPlansTables)
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]
 
Retirement Plan Expense
 
Pension Benefits
 
Postretirement Benefits
(In millions) 
Year Ended December 31
 
Year Ended December 31
 
2016
2015
2014
 
2016
2015
2014
Retirement plan expense
 
 
 
 
 
 
 
Defined benefit plans:
 
 
 
 
 
 
 
Service cost (benefits earned during the period)
$
82

$
92

$
71

 
$
3

$
5

$
4

Interest cost
113

112

126

 
8

8

8

Expected return on plan assets
(137
)
(129
)
(155
)
 



Settlement charges
(5
)
60

95

 



Curtailments



 
(38
)


Amortization of actuarial loss
56

69

36

 
3

7

2

Amortization of prior service cost (credit)
2

2

3

 
(17
)
(17
)
(18
)
Net periodic defined benefit plan expense
111

206

176

 
(41
)
3

(4
)
Defined contribution plans
57

52

50

 



Total retirement plan expense
$
168

$
258

$
226

 
$
(41
)
$
3

$
(4
)

 
 
Changes In Defined Benefit Obligation And Fair Value Of Defined Benefit Plan Assets
The following tables set forth changes in the defined benefit obligation and the fair value of defined benefit plan assets for the years ended December 31, 2016 and 2015:
 
Pension Benefits
 
Postretirement Benefits
 
December 31
2016
 
December 31
2015
 
December 31
2016
 
December 31
2015
 
(In millions)
 
(In millions)
Benefit obligation, beginning
$
2,880

 
$
3,305

 
$
199

 
$
231

Service cost
82

 
92

 
3

 
5

Interest cost
113

 
112

 
8

 
8

Actuarial loss (gain)
132

 
(117
)
 
5

 
(32
)
Employee contributions
1

 
2

 

 

Curtailments

 
(2
)
 
(38
)
 

Settlements
(10
)
 
(323
)
 

 

Divestitures
(8
)
 
(1
)
 

 
(1
)
Benefits paid
(142
)
 
(91
)
 
(9
)
 
(11
)
Plan amendments

 
(1
)
 
3

 

Actual expenses
(2
)
 
(2
)
 

 

Foreign currency effects
(54
)
 
(94
)
 

 
(1
)
Benefit obligation, ending
$
2,992

 
$
2,880

 
$
171

 
$
199

 
 
 
 
 
 
 
 
Fair value of plan assets, beginning
$
1,922

 
$
2,194

 
$

 
$

Actual return on plan assets
232

 
(7
)
 

 

Employer contributions
183

 
222

 
9

 
11

Employee contributions
1

 
2

 

 

Settlements
(10
)
 
(328
)
 

 

Divestitures
(2
)
 
(1
)
 

 

Benefits paid
(142
)
 
(91
)
 
(9
)
 
(11
)
Actual expenses
(2
)
 
(2
)
 

 

Foreign currency effects
(51
)
 
(67
)
 

 

Fair value of plan assets, ending
$
2,131

 
$
1,922

 
$

 
$

 
 
 
 
 
 
 
 
Funded status
$
(861
)
 
$
(958
)
 
$
(171
)
 
$
(199
)
 
 
 
 
 
 
 
 
Prepaid benefit cost
$
30

 
$
32

 
$

 
$

Accrued benefit liability – current
(16
)
 
(16
)
 
(13
)
 
(13
)
Accrued benefit liability – long-term
(875
)
 
(974
)
 
(158
)
 
(186
)
Net amount recognized in the balance sheet
$
(861
)
 
$
(958
)
 
$
(171
)
 
$
(199
)
 
 
Principal Assumptions In Developing Net Periodic Pension Cost
The following table sets forth the principal assumptions used in developing net periodic pension cost:
 
 
Pension Benefits
 
Postretirement Benefits
 
December 31
2016
 
December 31
2015
 
December 31
2016
 
December 31
2015
Discount rate
4.0%
 
3.5%
 
4.0%
 
3.8%
Expected return on plan assets
7.1%
 
6.3%
 
N/A
 
N/A
Rate of compensation increase
4.7%
 
3.8%
 
N/A
 
N/A


The following table sets forth the principal assumptions used in developing the year-end actuarial present value of the projected benefit obligations:

 
Pension Benefits
 
Postretirement Benefits
 
December 31
2016
 
December 31
2015
 
December 31
2016
 
December 31
2015
Discount rate
3.7
%
 
4.0
%
 
3.9%
 
4.0%
Rate of compensation increase
4.6
%
 
4.7
%
 
N/A
 
N/A
 
 
Impact Of 1% Change In Assumed Health Care Cost Trend Rates
A 1% change in assumed health care cost trend rates would have the following effects:
 
 
1% Increase
 
1% Decrease
 
(In millions)
Effect on accumulated postretirement benefit obligations
$
5

 
$
(4
)
 
 
Schedule Of Fair Value Of Plan Assets
The following tables set forth, by level within the fair value hierarchy, the fair value of plan assets as of December 31, 2016 and 2015.
 
Fair Value Measurements at December 31, 2016
 
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
 
(In millions)
Common stock
 
 
 
 
 
 
 
U.S. companies
$
222

 
$

 
$

 
$
222

International companies
2

 

 

 
2

Equity mutual funds
 

 
 

 
 

 
 

Emerging markets
82

 

 

 
82

International
117

 

 

 
117

Large cap U.S.
447

 

 

 
447

Common collective trust funds
 

 
 

 
 

 
 

International equity

 
306

 

 
306

Large cap U.S. equity

 
47

 

 
47

Fixed income

 
190

 

 
190

Other

 
50

 

 
50

Debt instruments
 

 
 

 
 

 
 

Corporate bonds

 
492

 

 
492

U.S. Treasury instruments
150

 

 

 
150

U.S. government agency, state and local government bonds

 
22

 

 
22

Other

 
4

 

 
4

Total assets at fair value
$
1,020

 
$
1,111

 
$

 
$
2,131



 
Fair Value Measurements at December 31, 2015
 
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
 
(In millions)
Common stock
 
 
 
 
 
 
 
U.S. companies
$
196

 
$

 
$

 
$
196

International companies
8

 

 

 
8

Equity mutual funds
 

 
 

 
 

 
 

Emerging markets
58

 

 

 
58

International
105

 

 

 
105

Large cap U.S.
409

 

 

 
409

Common collective trust funds
 

 
 

 
 

 
 

International equity

 
278

 

 
278

Large cap U.S. equity

 
45

 

 
45

Fixed income

 
193

 

 
193

Other

 
47

 

 
47

Debt instruments
 

 
 

 
 

 
 

Corporate bonds

 
457

 

 
457

U.S. Treasury instruments
99

 

 

 
99

U.S. government agency, state and local government bonds

 
24

 

 
24

Other

 
3

 

 
3

Total assets at fair value
$
875

 
$
1,047

 
$

 
$
1,922



 
 
Actual Asset Allocation For Global Pension Plan Assets
The following table sets forth the actual asset allocation for the Company’s global pension plan assets as of the measurement date:
 
 
December 31 2016(1)(2)
 
December 31
2015(2)
Equity securities
59%
 
58%
Debt securities
40%
 
40%
Other
1%
 
2%
Total
100%
 
100%

(1) 
The Company’s U.S. pension plans contain approximately 79% of the Company’s global pension plan assets.  The actual asset allocation for the Company’s U.S. pension plans as of the measurement date consists of 60% equity securities and 40% debt securities.  The target asset allocation for the Company’s U.S. pension plans is approximately the same as the actual asset allocation.  The actual asset allocation for the Company’s foreign pension plans as of the measurement date consists of 54% equity securities, 41% debt securities, and 5% in other investments.  The target asset allocation for the Company’s foreign pension plans is approximately the same as the actual asset allocation.

(2) 
The Company’s pension plans did not directly hold any shares of Company common stock as of the December 31, 2016 and 2015 measurement dates. 

 
 
Expected Future Benefit Payments To Be Paid
The following benefit payments, which reflect expected future service, are expected to be paid by the benefit plans:
 
 
Pension
Benefits
 
Postretirement
Benefits
 
(In millions)
2017
$
94

 
$
13

2018
100

 
12

2019
107

 
12

2020
113

 
12

2021
121

 
12

2022 – 2026
709

 
57