Post-Employment Benefits (Tables)

12 Months Ended

Dec. 31, 2014

Post-Employment Benefits

Schedule of aggregate accumulated benefit obligations, projected benefit obligations and aggregate plan assets for plans whose accumulated benefit obligation exceeded plan assets

	Defined Benefit Plans						Medical and Dental Plans
(in millions)	2014			2013			2014			2013
Projected benefit obligations, January 1	$	6,432		$	11,322		$	1,297		$	1,889
Service cost — benefits earned during the year		269			303			33			43
Interest cost on projected benefit obligations		317			276			63			59
(Gains) losses, primarily changes in discount rates, plan design changes, law changes and differences between actual and estimated health care costs		1,554			(650	)		187			(156	)
Benefits paid		(222	)		(185	)		(57	)		(60	)
Separation of AbbVie Inc.		—			(4,654	)		—			(450	)
Other, including foreign currency translation		(5	)		20			(112	)		(28	)
Projected benefit obligations, December 31	$	8,345		$	6,432		$	1,411		$	1,297
Plan assets at fair value, January 1	$	6,123		$	7,949		$	462		$	417
Actual return on plans' assets		529			727			32			61
Company contributions		393			724			41			40
Benefits paid		(222	)		(185	)		(50	)		(56	)
Separation of AbbVie Inc.		—			(3,107	)		—			—
Other, including foreign currency translation		(69	)		15			—			—
Plan assets at fair value, December 31	$	6,754		$	6,123		$	485		$	462
Projected benefit obligations greater than plan assets, December 31	$	(1,591	)	$	(309	)	$	(926	)	$	(835	)
Long-term assets	$	374		$	685		$	—		$	—
Short-term liabilities		(15	)		(11	)		(1	)		—
Long-term liabilities		(1,950	)		(983	)		(925	)		(835	)
Net liability	$	(1,591	)	$	(309	)	$	(926	)	$	(835	)
Amounts Recognized in Accumulated Other Comprehensive Income (loss):
Actuarial losses, net	$	3,187		$	1,791		$	509		$	334
Prior service cost (credits)		1			20			(348	)		(252	)
Total	$	3,188		$	1,811		$	161		$	82

Schedule of plans where the accumulated benefit obligations exceeded plan assets the aggregate accumulated benefit obligations, the projected benefit obligations and the aggregate plan assets

(in millions)	2014		2013
Accumulated benefit obligation	$	4,315	$	408
Projected benefit obligation		5,133		505
Fair value of plan assets		3,170		—

Net cost for the entity's major defined benefit plans and post-employment medical and dental benefit plans

	Defined Benefit Plans									Medical and Dental Plans
	2014			2013			2012			2014			2013			2012
	(in millions)
Service cost — benefits earned during the year	$	269		$	303		$	389		$	33		$	43		$	61
Interest cost on projected benefit obligations		317			276			460			63			59			81
Expected return on plans' assets		(458	)		(396	)		(611	)		(40	)		(36	)		(33	)
Amortization of actuarial losses		103			169			244			16			34			34
Amortization of prior service cost (credits)		2			3			2			(39	)		(35	)		(42	)
Total cost		233			355			484			33			65			101
Less: Discontinued operations		(1	)		(3	)		(209	)		—			—			(48	)
Net cost — continuing operations	$	232		$	352		$	275		$	33		$	65		$	53

Weighted-average assumptions used to determine benefit obligations and net cost for defined benefit plans and medical and dental plans

        The weighted average assumptions used to determine benefit obligations for defined benefit plans and medical and dental plans are as follows:

	2014			2013			2012
Discount rate		3.9	%		4.9	%		4.3	%
Expected aggregate average long-term change in compensation		4.3	%		5.0	%		5.3	%

        The weighted average assumptions used to determine the net cost for defined benefit plans and medical and dental plans are as follows:

	2014			2013			2012
Discount rate		4.9	%		4.2	%		5.0	%
Expected return on plan assets		7.5	%		7.8	%		8.0	%
Expected aggregate average long-term change in compensation		4.9	%		5.0	%		5.3	%

        The assumed health care cost trend rates for medical and dental plans at December 31 were as follows:

	2014			2013			2012
Health care cost trend rate assumed for the next year		8	%		7	%		7	%
Rate that the cost trend rate gradually declines to		5	%		5	%		5	%
Year that rate reaches the assumed ultimate rate		2025			2019			2019

Assumed health care cost trend rates

	2014			2013			2012
Health care cost trend rate assumed for the next year		8	%		7	%		7	%
Rate that the cost trend rate gradually declines to		5	%		5	%		5	%
Year that rate reaches the assumed ultimate rate		2025			2019			2019

Bases used to measure defined benefit plans' assets at fair value

			Basis of Fair Value Measurement
	Outstanding Balances		Quoted Prices in Active Markets		Significant Other Observable Inputs		Significant Unobservable Inputs
	(in millions)
December 31, 2014:
Equities:
U.S. large cap (a)	$	1,615	$	757	$	858	$	—
U.S. mid cap (b)		433		142		291		—
International (c)		1,353		445		908		—
Fixed income securities:
U.S. government securities (d)		449		10		439		—
Corporate debt instruments (e)		573		130		443		—
Non-U.S. government securities (f)		697		286		411		—
Other (g)		130		35		95		—
Absolute return funds (h)		1,631		203		895		533
Commodities (i)		165		10		69		86
Other (j)		193		115		29		49
	$	7,239	$	2,133	$	4,438	$	668
December 31, 2013:
Equities:
U.S. large cap (a)	$	1,618	$	741	$	877	$	—
U.S. mid cap (b)		409		134		275		—
International (c)		1,319		608		711		—
Fixed income securities:
U.S. government securities (d)		453		61		392		—
Corporate debt instruments (e)		378		108		270		—
Non-U.S. government securities (f)		536		305		231		—
Other (g)		77		69		8		—
Absolute return funds (h)		1,474		197		791		486
Commodities (i)		170		6		97		67
Other (j)		151		149		—		2
	$	6,585	$	2,378	$	3,652	$	555

(a)	A mix of index funds that track the S&P 500 (50 percent in 2014 and 60 percent in 2013) and separate actively managed equity accounts that are benchmarked to the Russell 1000 (50 percent in 2014 and 40 percent in 2013).
(b)	A mix of index funds (70 percent in 2014 and 2013) and separate actively managed equity accounts (30 percent in 2014 and 2013) that track or are benchmarked to the S&P 400 midcap index.

(c)	A mix of index funds (20 percent in 2014 and 0 percent in 2013) and separate actively managed pooled investment funds (80 percent in 2014 and 100 percent in 2013) that track or are benchmarked to the MSCI EAFE and MSCI emerging market indices.
(d)	A mix of index funds that track the Barclays U.S. Gov't Aggregate (65 percent in 2014 and 50 percent in 2013) and separate actively managed accounts (35 percent in 2014 and 50 percent in 2013) that are benchmarked to Barclays U.S. Long Gov't/Corp Index or the Barclays Global Aggregate.
(e)	A mix of index funds that track the Barclays U.S. Gov't Aggregate (15 percent in 2014 and 40 percent in 2013) and separate actively managed accounts (85 percent in 2014 and 60 percent in 2013) that are benchmarked to Barclays U.S. Long Gov't/Corp Index or the Barclays Global Aggregate.
(f)	Primarily United Kingdom, Japan, Netherlands and Irish government-issued bonds.
(g)	Primarily mortgage backed securities (40 percent in 2014 and 100 percent in 2013) and an actively managed, diversified fixed income vehicle benchmarked to the one-month Libor / Euribor (60 percent in 2014 and 0 percent in 2013).
(h)	Primarily funds invested by managers that have a global mandate with the flexibility to allocate capital broadly across a wide range of asset classes and strategies including, but not limited to equities, fixed income, commodities, interest rate futures, currencies and other securities to outperform an agreed upon benchmark with specific return and volatility targets.
(i)	Primarily investments in liquid commodity future contracts and private energy funds.
(j)	Primarily cash and cash equivalents (75 percent in 2014 and 100 percent in 2013) and investment in real estate funds (25 percent in 2014 and 0 percent in 2013).

Change in the value of assets that are measured using significant unobservable inputs

	2014		2013
	(in millions)
January 1	$	555	$	783
Transfers in (out of) from other categories		—		6
Separation of AbbVie Inc.		—		(165	)
Actual return on plan assets:
Assets on hand at year end		25		29
Assets sold during the year		21		51
Purchases, sales and settlements, net		67		(149	)
December 31	$	668	$	555

Benefit payments expected to be paid to participants

(in millions)	Defined Benefit Plans		Medical and Dental Plans
2015	$	212	$	70
2016		225		71
2017		240		72
2018		259		73
2019		278		74
2020 to 2024		1,735		407