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Employee Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Benefit Obligations in Excess of Fair Value of Plan Assets

December 31,

2019

2018

Projected benefit obligation

$

4,298

$

3,754

Fair value of plan assets

$

3,305

$

2,910
Accumulated Benefit Obligation in Excess of Fair Value of Plan Assets

December 31,

2019

2018

Accumulated benefit obligation

$

3,904

$

3,410

Fair value of plan assets

$

3,178

$

2,766
Net Periodic Benefit Expense

Postretirement benefits

2019

2018

2017

Service cost

$

9

$

10

$

10

Interest cost

27

24

26

Amortization of net gain

(7)

(1)

Amortization of prior service credit

(7)

(3)

Recognition of actuarial gain

(1)

Total net periodic benefit expense 

$

28

$

27

$

32

Special termination benefit charge

1

Total expense 

$

29

$

27

$

32

Other changes in plan assets and benefit obligations
‎  recognized in other comprehensive loss (income):

Current year actuarial loss (gain)

$

6

$

(47)

$

17

Amortization of actuarial gain 

1

1

Current year prior service cost (credit)

5

(40)

Amortization of prior service credit

7

7

3

Total recognized in other comprehensive loss (income)

$

19

$

(80)

$

21
Weighted-average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost

Pension benefits

Domestic

International

Postretirement benefits

2019

2018

2017

2019

2018

2017

2019

2018

2017

Discount rate

3.28

%

4.28

%

3.58

%

1.34

%

1.96

%

1.93

%

3.41

%

4.33

%

3.63

%

Rate of compensation increase

3.50

%

3.50

%

3.50

%

2.96

%

2.96

%

2.81

%

The weighted-average assumptions used to determine net periodic benefit cost for years ended December 31 were as follows:

Pension benefits

Domestic

International

Postretirement benefits

2019

2018

2017

2019

2018

2017

2019

2018

2017

Discount rate

4.28

%

3.58

%

4.01

%

1.96

%

1.93

%

2.29

%

4.33

%

3.63

%

4.06

%

Expected return on plan assets

6.00

%

6.00

%

6.00

%

2.01

%

2.13

%

3.97

%

Rate of compensation increase

3.50

%

3.50

%

3.50

%

2.96

%

2.81

%

2.06

%
Assumed Health Care Trend Rates

Assumed health care trend rates at December 31

2019

2018

Health care cost trend rate assumed for next year

6.75%

7.00%

Rate that the cost trend rate gradually declines to

5%

5%

Year that the rate reaches the ultimate trend rate

2027

2027
Effect One-percent-point Change in Assumed Health Care Cost

One-percentage-point
‎increase

One-percentage-point
‎decrease

Effect on annual total of service and interest cost (credit)

$

2

$

(2)

Effect on postretirement benefit obligation

$

42

$

(35)
Estimated Future Benefit Payments and Gross Medicare to be Received

Expected benefit payments

Domestic
‎pension
‎benefits

International
‎pension
‎benefits

Postretirement
‎benefits

2020

$

207

$

25

$

34

2021

$

214

$

33

$

37

2022

$

223

$

30

$

37

2023

$

233

$

30

$

37

2024

$

239

$

34

$

37

2025-2029

$

1,299

$

210

$

190
Pension Benefits [Member]  
Obligations and Funded Status Schedule

Total
‎pension benefits

Domestic
‎pension benefits

International
‎pension benefits

December 31,

2019

2018

2019

2018

2019

2018

Change in benefit obligation

Benefit obligation at beginning of year

$

4,003 

$

4,188 

$

3,358 

$

3,522 

$

645 

$

666 

Service cost

101 

103 

76 

78 

25 

25 

Interest cost

148 

132 

133 

116 

15 

16 

Plan participants’ contributions

1 

1 

1 

1 

Plan amendments

21 

20 

1 

Actuarial loss (gain)

533 

(210)

462 

(200)

71 

(10)

Other

6 

(1)

6 

(1)

Benefits paid

(214)

(202)

(180)

(179)

(34)

(23)

Foreign currency translation

3 

(29)

3 

(29)

Benefit obligation at end of year

$

4,581 

$

4,003 

$

3,856 

$

3,358 

$

725 

$

645 

Change in plan assets

Fair value of plan assets at beginning of year

$

3,239 

$

3,539 

$

2,742 

$

3,004 

$

497 

$

535 

Actual gain (loss) on plan assets

615 

(201)

576 

(202)

39 

1 

Employer contributions

22 

135 

14 

118 

8 

17 

Plan participants’ contributions

1 

1 

1 

1 

Benefits paid

(214)

(208)

(180)

(179)

(34)

(29)

Foreign currency translation

8 

(27)

8 

(27)

Fair value of plan assets at end of year

$

3,671 

$

3,239 

$

3,153 

$

2,742 

$

518 

$

497 

Funded status at end of year

Fair value of plan assets

$

3,671 

$

3,239 

$

3,153 

$

2,742 

$

518 

$

497 

Benefit obligations

(4,581)

(4,003)

(3,856)

(3,358)

(725)

(645)

Funded status of plans

$

(910)

$

(764)

$

(703)

$

(616)

$

(207)

$

(148)

Amounts recognized in the consolidated
‎  balance sheets consist of:

Noncurrent asset

$

82 

$

81 

$

82 

$

81 

Current liability

(20)

(29)

$

(13)

$

(13)

(7)

(16)

Noncurrent liability

(972)

(816)

(690)

(603)

(282)

(213)

Recognized liability

$

(910)

$

(764)

$

(703)

$

(616)

$

(207)

$

(148)

Amounts recognized in accumulated other
‎  comprehensive income consist of:

Net actuarial loss 

$

338 

$

338 

$

306 

$

324 

$

32 

$

14 

Prior service cost (credit)

29 

36 

30 

37 

(1)

(1)

Amount recognized at end of year 

$

367 

$

374 

$

336 

$

361 

$

31 

$

13 
Net Periodic Benefit Expense

Total pension benefits

Domestic pension benefits

International pension benefits

December 31,

2019

2018

2017

2019

2018

2017

2019

2018

2017

Service cost

$

101 

$

103 

$

92 

$

76 

$

78 

$

66 

$

25 

$

25 

$

26 

Interest cost

148 

132 

126 

133 

116 

112 

15 

16 

14 

Expected return on plan assets 

(171)

(189)

(174)

(161)

(178)

(163)

(10)

(11)

(11)

Amortization of prior service
‎  cost (credit)

6 

6 

5 

7 

7 

6 

(1)

(1)

(1)

Recognition of actuarial loss

90 

145 

21 

66 

143 

18 

24 

2 

3 

Total net periodic benefit expense

$

174 

$

197 

$

70 

$

121 

$

166 

$

39 

$

53 

$

31 

$

31 

Settlement charge

(1)

(1)

Special termination benefit charge

6 

6 

Total expense

$

180 

$

196 

$

70 

$

127 

$

166 

$

39 

$

53 

$

30 

$

31 

Other changes in plan assets and
‎  benefit obligations recognized
‎  in other comprehensive (income) loss:

Settlements

$

1 

$

1 

Current year actuarial loss (gain)

$

88 

180 

$

(30)

$

47 

$

182 

$

(8)

$

41 

(2)

$

(22)

Amortization of actuarial loss

(90)

(145)

(21)

(66)

(143)

(18)

(24)

(2)

(3)

Current year prior service cost

20 

20 

Amortization of prior service
‎  (cost) credit

(6)

(6)

(5)

(7)

(7)

(6)

1 

1 

1 

Total recognized in other
‎  comprehensive (income) loss 

$

(8)

$

50 

$

(56)

$

(26)

$

52 

$

(32)

$

18 

$

(2)

$

(24)
Changes in Fair Value of Level 3 Assets for Defined Benefit Plans

Level 3 assets – Domestic

Level 3 assets – International

(in millions)

Private
‎equity

Real
‎estate

Mortgages

Insurance
‎contracts

Balance at December 31, 2017

$

105

$

147

$

16

$

2

Actual return on plan assets relating to assets
‎  still held at the reporting date

15

9

Transfers in or out of level 3

(38)

(8)

6

Balance at December 31, 2018

$

82

$

148

$

22

$

2

Actual return on plan assets relating to assets
‎  still held at the reporting date

2

Transfers in or out of level 3

(18)

(5)

(1)

Balance at December 31, 2019

$

64

$

145

$

21

$

2
Postretirement Benefits [Member]  
Obligations and Funded Status Schedule

Postretirement benefits

December 31,

2019

2018

Change in benefit obligation

Benefit obligation at beginning of year

$

699

$

789

Service cost

9

10

Interest cost

27

24

Plan participants’ contributions

8

8

Plan amendments

5

(40)

Actuarial loss (gain)

6

(48)

Other

1

Benefits paid

(50)

(46)

Medicare subsidy received

2

Benefit obligation at end of year

$

705

$

699

Funded status at end of year

Fair value of plan assets

Benefit obligations

$

(705)

$

(699)

Funded status of plans

$

(705)

$

(699)

Amounts recognized in the consolidated balance sheets consist of:

Current liability

$

(34)

$

(37)

Noncurrent liability

(671)

(662)

Recognized liability

$

(705)

$

(699)

Amounts recognized in accumulated other comprehensive income consist of:

Net actuarial loss 

$

28

$

21

Prior service credit

(32)

(44)

Amount recognized at end of year 

$

(4)

$

(23)
United States [Member] | Pension Benefits [Member]  
Defined Benefit Plan Assets

December 31, 2019

December 31, 2018

(in millions)

Total

(Level 1)

(Level 2)

(Level 3)

Total

(Level 1)

(Level 2)

(Level 3)

Equity securities:

U.S. companies

$

494

$

2

$

492

$

363

$

2

$

361

International companies

387

387

324

324

Fixed income:

U.S. corporate bonds

2,017

226

1,791

1,626

183

1,443

Private equity (1)

64

$

64

82

$

82

Real estate (2)

145

145

148

148

Cash equivalents

46

46

199

199

Total

$

3,153

$

274

$

2,670

$

209

$

2,742

$

384

$

2,128

$

230

(1)This category includes venture capital, leverage buyouts and distressed debt limited partnerships invested primarily in U.S. companies. The inputs are valued by discounted cash flow analysis and comparable sale analysis.

(2)This category includes industrial, office, apartments, hotels, infrastructure and retail investments which are limited partnerships predominately in the U.S. The inputs are valued by discounted cash flow analysis; comparable sale analysis and periodic external appraisals.
International [Member] | Pension Benefits [Member]  
Defined Benefit Plan Assets

December 31, 2019

December 31, 2018

(in millions)

Total

(Level 1)

(Level 2)

(Level 3)

Total

(Level 1)

(Level 2)

(Level 3)

Fixed income:

International fixed income

$

455

$

373

$

82

$

428

$

361

$

67

Insurance contracts

2

$

2

2

$

2

Mortgages

21

21

22

22

Cash equivalents

40

40

45

45

Total

$

518

$

413

$

82

$

23

$

497

$

406

$

67

$

24