Table of Contents The weighted average rates used to determine the benefit obligations were as follows for the year ended December 31, 2020, the Successor period July 2, 2019 through December 31, 2019, and the Predecessor period January 1, 2019 through July 1, 2019: The weighted average rates used to determine net periodic pension expense (benefit) were as follows for the year ended December 31, 2020, the Successor period July 2, 2019 through December 31, 2019, the Predecessor period January 1, 2019 through July 1, 2019 and the year ended December 31, 2018: A one-percentage-point change in the assumed health care cost trend rates would change the projected benefit obligation for international non-pension postretirement benefits by approximately $2 and service cost and interest cost by $1. The impact on U.S. plans is negligible. Hexion Inc. |  102  | 2020 Form 10-K Pension Benefits U.S. Plans Non-U.S. Plans Successor Predecessor Successor Predecessor December 31, 2020 July 2, 2019 through December 31, 2019 January 1, 2019 through July 1, 2019 Year Ended December 31, 2018 December 31, 2020 July 2, 2019 through December 31, 2019 January 1, 2019 through July 1, 2019 Year Ended December 31, 2018 Discount rate 3.1  % 3.3  % 4.1  % 3.5  % 1.2  % 1.3  % 1.9  % 1.9  % Rate of increase in future compensation levels —  —  —  —  3.4 % 3.4  % 2.3  % 2.4  % Expected long-term rate of return on plan assets 6.6  % 6.6  % 6.6  % 6.7  % 3.1  % 2.6  % 3.1  % 3.1  % Non-Pension Postretirement Benefits U.S. Plans Non-U.S. Plans Successor Predecessor Successor Predecessor December 31, 2020 July 2, 2019 through December 31, 2019 January 1, 2019 through July 1, 2019 Year Ended December 31, 2018 December 31, 2020 July 2, 2019 through December 31, 2019 January 1, 2019 through July 1, 2019 Year Ended December 31, 2018 Discount rate —  % —  % 4.1  % 3.2  % 5.2  % 6.9  % 6.3  % 5.3  % Rate of increase in future compensation levels —  —  —  —  —  —  —  —  Expected long-term rate of return on plan assets —  —  —  —  —  —  —  —  Pension Benefits Successor Predecessor December 31, 2020 July 2, 2019 through December 31, 2019 January 1, 2019 through July 1, 2019 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Discount rate 2.2  % 0.8  % 3.1  % 1.2  % 3.3  % 1.3  % Rate of increase in future compensation levels —  3.6  % —  3.4  % —  3.4  % Non-Pension Postretirement Benefits Successor Predecessor December 31, 2020 July 2, 2019 through December 31, 2019 January 1, 2019 through July 1, 2019 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans Discount rate —  % 4.6  % —  % 5.2  % —  % 6.9  % Rate of increase in future compensation levels —  —  —  —  —  —  The weighted average assumed health care cost trend rates are as follows: Health care cost trend rate assumed for next year —  % 6.8  % —  % 5.7  % —  % 6.2  % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) —  % 4.5  % —  % 4.0  % —  % 4.0  % Year that the rate reaches the ultimate trend rate —  2040 —  2040 —  2040