PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables)

12 Months Ended

Dec. 31, 2017

Defined Benefit Plan Disclosure [Line Items]

Schedule of Change in Projected Benefit Obligations, Plan Assets and Funded Status of All Significant Plans [Table Text Block]

Summarized information on the Company's pension and other postretirement benefit plans is as follows:



Change in Projected Benefit Obligations, Plan Assets and Funded Status of All Significant Plans	Defined Benefit Pension Plans						Other Postretirement Benefits
In millions	2017			2016			2017			2016
Change in projected benefit obligations:
Benefit obligations at beginning of year	$	30,280		$	25,652		$	1,835		$	1,597
Service cost	506			463			14			13
Interest cost	883			846			54			52
Plan participants' contributions	14			19			—			—
Actuarial changes in assumptions and experience	1,804			1,967			(198		)	13
Benefits paid	(1,440		)	(1,324		)	(151		)	(154		)
Plan amendments	14			—			—			—
Acquisitions/divestitures/other ¹	50			3,201			—			313
Effect of foreign exchange rates	932			(506		)	13			1
Termination benefits/curtailment cost/settlements ²	(1,192		)	(38		)	—			—
Benefit obligations at end of year	$	31,851		$	30,280		$	1,567		$	1,835

Change in plan assets:
Fair value of plan assets at beginning of year	$	21,208		$	18,774		$	—		$	—
Actual return on plan assets	2,500			1,437			—			—
Employer contributions	1,676			629			—			—
Plan participants' contributions	14			19			—			—
Benefits paid	(1,440		)	(1,324		)	—			—
Acquisitions/divestitures/other ³	(15		)	2,077			—			—
Effect of foreign exchange rates	646			(404		)	—			—
Settlements ⁴	(1,188		)	—			—			—
Fair value of plan assets at end of year	$	23,401		$	21,208		$	—		$	—

Funded status:
U.S. plans with plan assets ⁵	$	(5,363	)	$	(5,122	)	$	—		$	—
Non-U.S. plans with plan assets ⁵	(2,333		)	(2,474		)	—			—
All other plans ⁵	(754		)	(1,476		)	(1,567		)	(1,835		)
Funded status at end of year	$	(8,450	)	$	(9,072	)	$	(1,567	)	$	(1,835	)

Amounts recognized in the consolidated balance sheets at Dec 31:
Deferred charges and other assets	$	548		$	292		$	—		$	—
Accrued and other current liabilities	(48		)	(74		)	(125		)	(158		)
Pension and other postretirement benefits - noncurrent	(8,950		)	(9,290		)	(1,442		)	(1,677		)
Net amount recognized	$	(8,450	)	$	(9,072	)	$	(1,567	)	$	(1,835	)

Pretax amounts recognized in accumulated other comprehensive (income) loss at Dec 31:
Net loss (gain)	$	10,899		$	11,379		$	(326	)	$	(133	)
Prior service credit	(265		)	(304		)	—			—
Pretax balance in accumulated other comprehensive (income) loss at end of year	$	10,634		$	11,075		$	(326	)	$	(133	)

The 2017 impact includes the reclassification of a China pension liability of $69 million from "Other noncurrent obligations" to "Pension and other postretirement benefits - noncurrent" and the divestiture of a Korean company with pension benefit obligations of $25 million. The 2016 impact includes pension benefit obligations of $3,252 million and other postretirement benefit obligations of $313 million assumed with the ownership restructure of Dow Corning. The 2016 impact also includes the transfer of benefit obligations of $53 million in the U.S. through the purchase of annuity contracts from an insurance company. See Note 4 for additional information.

The 2017 impact includes the settlement of certain plan obligations for a U.S. non-qualified pension plan of $1,170 million required due to a change in control provision. The 2017 impact also includes the conversion of a Korean pension plan of $22 million to a defined contribution plan. The 2016 impact primarily relates to the curtailment of benefits for certain participants of a U.S. Dow Corning plan of $36 million.

The 2017 impact relates to the divestiture of a Korean company. The 2016 impact includes plan assets assumed with the ownership restructure of Dow Corning of $2,327 million. The 2016 impact also includes the purchase of annuity contracts of $55 million in the U.S. associated with the transfer of benefit obligations to an insurance company and the transfer of plan assets associated with the Reverse Morris Trust transaction with Olin of $184 million. See Notes 4 and 7 for additional information.


4.	The 2017 impact includes payments made of $1,170 million to settle certain plan obligations of a U.S. non-qualified pension plan required due to a change in control provision. The 2017 impact also includes payments made of $18 million to convert a Korean pension plan to a defined contribution plan.


5.	Updated to conform with the current year presentation.

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]



Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets at Dec 31	2017		2016
In millions	2017		2016
Projected benefit obligations	$	28,508	$	27,877
Accumulated benefit obligations	$	27,248	$	26,590
Fair value of plan assets	$	19,515	$	18,523

Schedule of Projected Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]



Pension Plans with Projected Benefit Obligations in Excess of Plan Assets at Dec 31	2017		2016
In millions	2017		2016
Projected benefit obligations	$	28,576	$	28,025
Accumulated benefit obligations	$	27,307	$	26,702
Fair value of plan assets	$	19,578	$	18,662

Schedule of Net Benefit Costs [Table Text Block]



Net Periodic Benefit Costs for All Significant Plans for the Year Ended Dec 31	Defined Benefit Pension Plans									Other Postretirement Benefits
In millions	2017			2016			2015			2017			2016			2015
Net Periodic Benefit Costs:
Service cost	$	506		$	463		$	484		$	14		$	13		$	14
Interest cost	883			846			975			54			52			59
Expected return on plan assets	(1,548		)	(1,447		)	(1,382		)	—			—			—
Amortization of prior service credit	(25		)	(24		)	(28		)	—			(3		)	(2		)
Amortization of unrecognized (gain) loss	638			587			706			(6		)	(7		)	(11		)
Curtailment/settlement/other ¹	683			(36		)	—			—			—			—
Net periodic benefit costs	$	1,137		$	389		$	755		$	62		$	55		$	60
Changes in plan assets and benefit obligations recognized in other comprehensive (income) loss:
Net (gain) loss	$	845		$	1,954		$	(127	)	$	(199	)	$	14		$	11
Prior service cost	14			—			63			—			—			—
Amortization of prior service credit	25			24			28			—			3			2
Amortization of unrecognized gain (loss)	(638		)	(587		)	(706		)	6			7			11
Settlement loss ²	(687		)	—			—			—			—			—
Total recognized in other comprehensive (income) loss	$	(441	)	$	1,391		$	(742	)	$	(193	)	$	24		$	24
Total recognized in net periodic benefit cost and other comprehensive (income) loss	$	696		$	1,780		$	13		$	(131	)	$	79		$	84


1.	The 2017 impact relates to the settlement of a U.S. non-qualified plan triggered by a change in control provision. The 2016 impact relates to the curtailment of benefits for certain participants of a Dow Corning plan in the U.S.


2.	The 2017 impact relates to the settlement of a U.S. non-qualified plan triggered by a change in control provision.

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]

The estimated pretax net (gain) loss and prior service credit for defined benefit pension plans and other postretirement benefit plans that will be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2018 are summarized below:



Estimated Pretax Amortization of Net (Gain) Loss and Prior Service Credit for the Year Ended Dec 31	2018
In millions	2018
Defined Benefit Pension Plans:
Net loss	$	679
Prior service credit	$	(25	)
Other Postretirement Benefit Plans:
Net gain	$	(24	)

Schedule of Expected Benefit Payments [Table Text Block]

Estimated Future Benefit Payments

The estimated future benefit payments, reflecting expected future service, as appropriate, are presented in the following table:



Estimated Future Benefit Payments at Dec 31, 2017	Defined Benefit Pension Plans		Other Postretirement Benefits
In millions	Defined Benefit Pension Plans		Other Postretirement Benefits
2018	$	1,471	$	126
2019	1,502		117
2020	1,533		118
2021	1,571		117
2022	1,612		115
2023-2027	8,517		527
Total	$	16,206	$	1,120

Schedule of Allocation of Plan Assets [Table Text Block]

The weighted-average target allocation for plan assets of the Company's pension plans is summarized as follows:



Target Allocation for Plan Assets at Dec 31, 2017	Target Allocation
Asset Category	Target Allocation
Equity securities	36	%
Fixed income securities	35
Alternative investments	28
Other investments	1
Total	100	%

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

The following table summarizes the bases used to measure the Company’s pension plan assets at fair value for the years ended December 31, 2017 and 2016:



Basis of Fair Value Measurements	Dec 31, 2017											Dec 31, 2016 ¹
In millions	Total			Level 1			Level 2			Level 3		Total			Level 1			Level 2			Level 3
Cash and cash equivalents	$	772		$	671		$	101		$	—	$	879		$	867		$	12		$	—
Equity securities:
U.S. equity securities ²	$	3,755		$	3,416		$	339		$	—	$	3,645		$	3,208		$	436		$	1
Non - U.S. equity securities	5,551			4,533			978			40		4,288			3,564			692			32
Total equity securities	$	9,306		$	7,949		$	1,317		$	40	$	7,933		$	6,772		$	1,128		$	33
Fixed income securities:
Debt - government-issued	$	4,596		$	158		$	4,437		$	1	$	3,970		$	136		$	3,834		$	—
Debt - corporate-issued	3,300			351			2,935			14		3,187			306			2,866			15
Debt - asset-backed	101			—			100			1		97			—			95			2
Total fixed income securities	$	7,997		$	509		$	7,472		$	16	$	7,254		$	442		$	6,795		$	17
Alternative investments:
Hedge funds	$	1,593		$	—		$	663		$	930	$	1,670		$	92		$	631		$	947
Private market securities	1,390			—			—			1,390		1,128			—			—			1,128
Real estate	2,221			21			—			2,200		2,087			21			24			2,042
Derivatives - asset position	261			2			259			—		367			2			365			—
Derivatives - liability position	(305		)	(2		)	(303		)	—		(374		)	(2		)	(372		)	—
Total alternative investments	$	5,160		$	21		$	619		$	4,520	$	4,878		$	113		$	648		$	4,117
Other investments	$	275		$	37		$	236		$	2	$	351		$	30		$	226		$	95
Subtotal	$	23,510		$	9,187		$	9,745		$	4,578	$	21,295		$	8,224		$	8,809		$	4,262
Items to reconcile to fair value of plan assets:
Pension trust receivables ³	$	27										$	38
Pension trust payables ⁴	(136		)									(125		)
Total	$	23,401										$	21,208

As a result of the Merger, certain asset categories and classifications of prior period amounts were revised to improve comparability with the presentation of DowDuPont, including reclassifying cash and cash equivalents of $794 million, equity securities of $1,646 million, fixed income securities of $442 million, alternative investments of $92 million and other investments of $30 million from Level 2 to Level 1. Further, pension trust receivables and pension trust payables previously presented as Level 2 investments are now separately presented.


2.	No DowDuPont common stock was directly held at December 31, 2017. No Dow common stock was directly held at December 31, 2016.


3.	Primarily receivables for investment securities sold.


4.	Primarily payables for investment securities purchased.

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]

The following table summarizes the changes in the fair value of Level 3 pension plan assets for the years ended December 31, 2017 and 2016:



Fair Value Measurement of Level 3 Pension Plan Assets ¹	Equity Securities			Fixed Income Securities			Alternative Investments			Other Investments			Total
In millions
Balance at Jan 1, 2016	$	28		$	17		$	3,797		$	38		$	3,880
Actual return on assets:
Relating to assets sold during 2016	—			2			163			(7		)	158
Relating to assets held at Dec 31, 2016	7			(1		)	(15		)	11			2
Purchases, sales and settlements, net	—			(4		)	172			53			221
Transfers out of Level 3, net	(2		)	3			—			—			1
Balance at Dec 31, 2016	$	33		$	17		$	4,117		$	95		$	4,262
Actual return on assets:
Relating to assets sold during 2017	(1		)	—			163			6			168
Relating to assets held at Dec 31, 2017	5			1			77			(5		)	78
Purchases, sales and settlements, net	3			(2		)	163			(94		)	70
Balance at Dec 31, 2017	$	40		$	16		$	4,520		$	2		$	4,578

As a result of the Merger, certain classifications of prior period amounts have been revised to improve comparability with the presentation of DowDuPont, including the reclassification of $1 million at December 31, 2016 of assets from equity securities to alternative investments and $481 million at December 31, 2016 ($276 million at January 1, 2016) of assets from fixed income securities to alternative investments.

Defined Benefit Pension Plans [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Assumptions Used [Table Text Block]

The weighted-average assumptions used to determine pension plan obligations and net periodic benefit costs for all plans are summarized in the table below:



Weighted-Average Assumptions for All Pension Plans	Benefit Obligations at Dec 31				Net Periodic Costs for the Year Ended
	2017		2016		2017		2016		2015
Discount rate	3.17	%	3.52	%	3.52	%	3.85	%	3.60	%
Rate of compensation increase	3.88	%	3.90	%	3.90	%	4.04	%	4.13	%
Expected return on plan assets	—		—		7.16	%	7.22	%	7.35	%

The weighted-average assumptions used to determine pension plan obligations and net periodic benefit costs for U.S. plans are summarized in the table below:



Weighted-Average Assumptions for U.S. Pension Plans	Benefit Obligations at Dec 31				Net Periodic Costs for the Year Ended
	2017		2016		2017		2016		2015
Discount rate	3.66	%	4.11	%	4.11	%	4.40	%	4.04	%
Rate of compensation increase	4.25	%	4.25	%	4.25	%	4.50	%	4.50	%
Expected return on plan assets	—		—		7.91	%	7.77	%	7.85	%