discount rate to increase without an offsetting increase in the operating results, it is likely that we would be required to recognize an impairment charge related to this trademark. Management will continue to monitor the fair value of our intangible assets in future periods. 

Pension Plan Valuations 

Our Company sponsors and/or contributes to pension and postretirement health care and life insurance benefit plans covering substantially all U.S. employees. We also sponsor nonqualified, unfunded defined benefit pension plans for certain associates and participate in multi-employer pension plans in the United States. In addition, our Company and its subsidiaries have various pension plans and other forms of postretirement arrangements outside the United States. 

Management is required to make certain critical estimates related to actuarial assumptions used to determine our pension expense and related obligation. We believe the most critical assumptions are related to (1) the discount rate used to determine the present value of the liabilities and (2) the expected long-term rate of return on plan assets. All of our actuarial assumptions are reviewed annually. Changes in these assumptions could have a material impact on the measurement of our pension expense and related obligation. 

At each measurement date, we determine the discount rate by reference to rates of high-quality, long-term corporate bonds that mature in a pattern similar to the future payments we anticipate making under the plans. As of December 31, 2013 and 2012, the weighted-average discount rate used to compute our benefit obligation was4.75 percent and 4.00 percent, respectively. 

The expected long-term rate of return on plan assets is based upon the long-term outlook of our investment strategy as well as our historical returns and volatilities for each asset class. We also review current levels of interest rates and inflation to assess the reasonableness of our long-term rates. Our pension plan investment objective is to ensure all of our plans have sufficient funds to meet their benefit obligations when they become due. As a result, the Company periodically revises asset allocations, where appropriate, to improve returns and manage risk. The weighted-average expected long-term rate of return used to calculate our pension expense was 8.25 percent in 2013 and 2012. 

In 2013, the Company's total pension expense related to defined benefit plans was$197 million. In 2014, we expect our total pension expense to be approximately $32 million. The anticipated decrease is primarily due to an increase in the weighted-average discount rate used to calculate the Company's benefit obligation, favorable asset performance during 2013 and the approximately $175 million of contributions the Company expects to make in 2014 to its international plans. The estimated impact of a 50 basis-point decrease in the discount rate on our 2014 pension expense is an increase to our pension expense of approximately $37 million. Additionally, the estimated impact of a 50 basis- point decrease in the expected long-term rate of return on plan assets on our 2014 pension expense is an increase to our