Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2012

Funded Status of Pension and Other Postretirement Benefit Plans

The funded status of the pension and other postretirement benefit plans at December 31, 2012 and 2011 was as follows:

	Pension Benefits						Other Postretirement Benefits
	2012			2011			2012			2011
	(in millions)
Benefit obligation, beginning of year	$	2,494		$	2,114		$	454		$	392
Service cost		88			79			12			11
Interest cost		124			120			20			22
Actuarial loss (gain)		256			256			(4	)		40
Benefits paid		(74	)		(75	)		(12	)		(11	)
Foreign currency translation effect		6			—			—			—
Benefit obligation, end of year		2,894			2,494			470			454
Plan assets at fair value		2,305			2,001			96			73
Funded status at end of year, included in other liabilities	$	589		$	493		$	374		$	381

Net Actuarial Loss and Prior Service Cost Included in Accumulated Other Comprehensive Income

Net actuarial loss and prior service cost included in accumulated other comprehensive income that were not yet recognized as components of net benefit costs at December 31, 2012 and 2011 were as follows:

	Pension Benefits				Other Postretirement Benefits
	2012		2011		2012		2011
	(in millions)
Net actuarial loss	$	989	$	928	$	108	$	122
Prior service cost		18		20		—		—
	$	1,007	$	948	$	108	$	122

Weighted Average Assumptions Used to Determine Benefit Obligations

The weighted average assumptions used to determine the benefit obligations were as follows:

	Pension Benefits						Other Postretirement Benefits
	2012			2011			2012			2011
Discount rate		4.4	%		5.0	%		4.4	%		5.0	%
Rate of compensation increase		4.5			4.5			—			—

Components of Net Pension and Other Postretirement Benefit Costs Reflected in Net Income

The components of net pension and other postretirement benefit costs reflected in net income and other changes in plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31, 2012, 2011 and 2010 were as follows:

	Pension Benefits									Other Postretirement Benefits
	2012			2011			2010			2012			2011			2010
	(in millions)
Costs reflected in net income
Service cost	$	88		$	79		$	75		$	12		$	11		$	11
Interest cost		124			120			112			20			22			21
Expected return on plan assets		(155	)		(140	)		(131	)		(6	)		(5	)		(4	)
Amortization of net actuarial loss and prior service cost and other		80			68			64			3			3			2
	$	137		$	127		$	120		$	29		$	31		$	30

Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income

	Pension Benefits									Other Postretirement Benefits
	2012			2011			2010			2012			2011			2010
	(in millions)
Costs reflected in net income
Service cost	$	88		$	79		$	75		$	12		$	11		$	11
Interest cost		124			120			112			20			22			21
Expected return on plan assets		(155	)		(140	)		(131	)		(6	)		(5	)		(4	)
Amortization of net actuarial loss and prior service cost and other		80			68			64			3			3			2
	$	137		$	127		$	120		$	29		$	31		$	30
Changes in plan assets and benefit obligations recognized in other comprehensive income
Net actuarial loss (gain)	$	139		$	355		$	16		$	(11	)	$	45		$	30
Amortization of net actuarial loss and prior service cost and other		(80	)		(68	)		(64	)		(3	)		(3	)		(2	)
	$	59		$	287		$	(48	)	$	(14	)	$	42		$	28

Weighted Average Assumptions Used to Determine Net Pension and Other Postretirement Benefit Costs

The weighted average assumptions used to determine net pension and other postretirement benefit costs were as follows:

	Pension Benefits						Other Postretirement Benefits
	2012		2011		2010		2012		2011		2010
Discount rate		5.0%		5.75%		6.0%		5.0%		5.75%		6.0%
Rate of compensation increase		4.5		4.5		4.5		—		—		—
Expected long term rate of return on plan assets		7.75		7.75		8.0		7.75		7.75		8.0

Weighted Average Health Care Cost Trend Rate Assumptions

The weighted average health care cost trend rate assumptions used to measure the expected cost of medical benefits were as follows:

	December 31
	2012			2011
Health care cost trend rate for next year		7.9	%		8.1	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)		4.5			4.5
Year that the rate reaches the ultimate trend rate		2028			2028

Fair Values of Pension Plan Assets

The fair values of the pension plan assets were as follows:

	December 31
	2012		2011
	(in millions)
Short term investments	$	33	$	45
Fixed maturities
U.S. government and government agency and authority obligations		239		207
Corporate bonds		321		290
Foreign government and government agency obligations		80		62
Mortgage-backed securities		174		176
Total fixed maturities		814		735
Equity securities		1,404		1,174
Other assets		54		47
	$	2,305	$	2,001

Estimated Benefits Expected to be Paid

The estimated benefits expected to be paid in each of the next five years and in the aggregate for the following five years are as follows:

Years Ending December 31	Pension Benefits		Other Postretirement Benefits
	(in millions)
2013	$	93	$	14
2014		101		15
2015		136		17
2016		114		18
2017		123		20
2018-2022		771		124