The plan’s financial instruments, shown below, are presented at fair value. See Note 1 for further discussion on how the hierarchical levels of the fair values of the Plan’s investments are determined. The fair values of our U.S. defined benefit plan assets were: (a) Global Equity fund seeks to closely track the performance of the MSCI All Country World Index. (b) Global Real Asset funds seek to provide exposure to the listed global real estate investment trusts (REITs) and infrastructure markets. (c) Diversified Credit funds seek to provide exposure to the high yield, emerging markets, bank loans and securitized credit markets. (d) Liability-Driven Investment ("LDI") funds seek to invest in high quality fixed income securities that collectively closely match those found in discount curves used to value the plan's liabilities. We maintain defined benefit pension plans, which cover some or all of our employees in the following countries: Austria, Belgium, Canada, France, Germany, India, Italy, Japan, Mexico, The Netherlands, Sweden, Switzerland and the U.K. The assets of the plans in the U.K. (two plans), The Netherlands and Canada represent 9 4% of the total non-U.S. plan assets ("non-U.S. assets"). Details of other countries’ plan assets have not been provided due to immateriality. The following are assumptions related to the non-U.S. defined benefit pension plans: At December 31, 2020, as compared with December 31, 2019, we decreased our average discount rate for non-U.S. plans from 1.61% to 1.23% based on analysis of bonds and other publicly-traded instruments, by country, which had lower yields due to market conditions. To determine 2020 pension expense, we decreased our average expected rate of 96 Year Ended December 31, 2020 2019 2018 Weighted average assumptions used to determine Benefit Obligations: Discount rate 1.23  % 1.61  % 2.42  % Rate of increase in compensation levels 3.11  3.12  3.28  Weighted average assumptions used to determine net pension expense: Long-term rate of return on assets 2.37  % 3.37  % 3.62  % Discount rate 1.61  2.42  2.25  Rate of increase in compensation levels 3.12  3.28  3.25  Weighted-average interest crediting rates 1.00  % 1.00  % 1.00  % At December 31, 2020 At December 31, 2019 Hierarchical Levels Hierarchical Levels Total I II III Total I II III (Amounts in thousands) (Amounts in thousands) Cash and cash equivalents $ 5,986  $ 5,986  $ —  $ —  $ 4,994  $ 4,994  $ —  $ —  Commingled Funds: Equity securities Global Equity(a) 142,401  —  142,401  —  135,350  —  135,350  —  Global Real Assets(b) 61,604  —  61,604  —  60,523  —  60,523  —  Fixed income securities Diversified Credit(c) 66,995  —  66,995  —  56,375  —  56,375  —  Liability-Driven Investment(d) 200,694  —  200,694  —  225,311  —  225,311  —  $ 477,680  $ 5,986  $ 471,694  $ —  $ 482,553  $ 4,994  $ 477,559  $ — 