Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2015

Defined Benefit Plan Disclosure [Line Items]

Expense recognized for defined contribution savings plans, included in compensation and benefits and discontinued operations in the consolidated statements of income

The expense recognized for these plans is included in Compensation and benefits in the Consolidated Statements of Income, as follows (in millions):

Years ended December 31	2015		2014		2013
U.S.	$	133	$	123	$	123
U.K.	42		42		45
Netherlands and Canada	25		30		18
	$	200	$	195	$	186

Pension Plans, Defined Benefit

Defined Benefit Plan Disclosure [Line Items]

Reconciliation of the changes in the benefit obligations and fair value of assets and a statement of the funded status

The following tables provide a reconciliation of the changes in the projected benefit obligations and fair value of assets for the years ended December 31, 2015 and 2014 and a statement of the funded status as of December 31, 2015 and 2014, for the material U.K. plans, U.S. plans and other major plans, which are located in the Netherlands and Canada. These plans represent approximately 93% of the Company's projected benefit obligations.

	U.K.						U.S.						Other
(millions)	2015			2014			2015			2014			2015			2014
Change in projected benefit obligation
At January 1	$	5,529		$	5,106		$	3,350		$	2,744		$	1,399		$	1,252
Service cost	1			1			—			2			—			—
Interest cost	198			230			131			129			33			47
Participant contributions	—			—			—			—			—			—
Plan amendment	27			—			—			—			(10		)	—
Curtailments	—			—			—			—			—			(16		)
Plan transfer and acquisitions	(2		)	—			(18		)	13			—			—
Actuarial loss (gain)	(83		)	(211		)	(25		)	265			24			(5		)
Benefit payments	(217		)	(192		)	(133		)	(130		)	(38		)	(51		)
Actual expenses	—			—			—			—			—			(2		)
Change in discount rate	(247		)	902			(145		)	327			(66		)	324
Foreign currency impact	(221		)	(307		)	—			—			(165		)	(150		)
At December 31	$	4,985		$	5,529		$	3,160		$	3,350		$	1,177		$	1,399
Accumulated benefit obligation at end of year	$	4,985		$	5,529		$	3,160		$	3,350		$	1,135		$	1,316
Change in fair value of plan assets
At January 1	$	6,224		$	5,398		$	2,036		$	1,855		$	1,161		$	1,061
Actual return on plan assets	91			1,199			(60		)	190			8			253
Participant contributions	—			—			—			—			—			—
Employer contributions	65			166			108			121			21			28
Plan transfer and acquisitions	(3		)	—			—			—			—			—
Benefit payments	(217		)	(192		)	(133		)	(130		)	(38		)	(51		)
Actual Expenses	—			—			—			—			—			(2		)
Foreign currency impact	(257		)	(347		)	—			—			(133		)	(128		)
At December 31	$	5,903		$	6,224		$	1,951		$	2,036		$	1,019		$	1,161
Market related value at end of year	$	5,903		$	6,224		$	2,064		$	1,950		$	1,019		$	1,161
Amount recognized in Statement of Financial Position at December 31
Funded status	$	918		$	695		$	(1,209	)	$	(1,314	)	$	(158	)	$	(238	)
Unrecognized prior-service cost	46			22			9			11			(7		)	3
Unrecognized loss	1,465			1,687			1,723			1,737			389			456
Net amount recognized	$	2,429		$	2,404		$	523		$	434		$	224		$	221

Amounts recognized in the Consolidated Statements of Financial Position

Amounts recognized in the Consolidated Statements of Financial Position consist of (in millions):

	U.K.						U.S.						Other
	2015			2014			2015			2014			2015			2014
Prepaid benefit cost (1)	$	1,012		$	918		$	—		$	—		$	—		$	—
Accrued benefit liability (2)	(94		)	(223		)	(1,209		)	(1,314		)	(158		)	(238		)
Accumulated other comprehensive loss	1,511			1,709			1,732			1,748			382			459
Net amount recognized	$	2,429		$	2,404		$	523		$	434		$	224		$	221

(1) Included in Prepaid pension

(2) Included in Other current liabilities and Pension, other post retirement, and post employment liabilities

Amounts recognized in Accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost

Amounts recognized in Accumulated other comprehensive loss (income) that have not yet been recognized as components of net periodic benefit cost at December 31, 2015 and 2014 consist of (in millions):

	U.K.				U.S.				Other
	2015		2014		2015		2014		2015			2014
Net loss	$	1,465	$	1,687	$	1,723	$	1,737	$	389		$	456
Prior service cost (income)	46		22		9		11		(7		)	3
	$	1,511	$	1,709	$	1,732	$	1,748	$	382		$	459

Components of net periodic benefit cost for the pension plans

The following table provides the components of net periodic benefit (income) cost for the plans (in millions):

	U.K.									U.S.									Other
	2015			2014			2013			2015			2014			2013			2015			2014			2013
Service cost	$	1		$	1		$	1		$	—		$	2		$	7		$	—		$	—		$	18
Interest cost	198			230			210			131			129			114			33			47			45
Expected return on plan assets, net of administration expenses	(307		)	(326		)	(302		)	(154		)	(157		)	(139		)	(50		)	(59		)	(59		)
Amortization of prior-service cost	1			1			1			2			2			—			—			—			—
Amortization of net actuarial loss	41			52			49			54			42			52			11			10			23
Curtailment gain and other	—			—			—			—			—			—			—			(2		)	—
Net periodic benefit (income) cost	$	(66	)	$	(42	)	$	(41	)	$	33		$	18		$	34		$	(6	)	$	(4	)	$	27

Weighted-average assumptions used to determine future benefit obligations and net periodic benefit cost

The weighted-average assumptions used to determine benefit obligations are as follows:

	U.K.		U.S.		Other
	2015	2014	2015	2014	2015	2014
Discount rate	3.96%	3.70%	3.69-4.43%	3.37-4.08%	2.43-3.96%	2.03-3.91%
Rate of compensation increase	3.63-4.13%	3.35-4.05%	N/A	N/A	2.00-3.50%	2.25-3.50%
Underlying price inflation	1.88%	1.95%	N/A	N/A	2.00-2.50%	2.00-2.50%

The weighted-average assumptions used to determine the net periodic benefit cost are as follows:

	U.K.			U.S.			Other
	2015	2014	2013	2015	2014	2013	2015	2014	2013
Discount rate	3.70%	4.55%	4.45%	3.37 - 4.08%	3.97 - 4.87%	3.73 - 4.05%	2.03 - 3.91%	3.60 - 4.71%	3.25 - 3.89%
Expected return on plan assets, net of administration expenses	5.09%	6.00%	6.30%	7.96%	8.80%	8.80%	3.99 - 5.21%	4.70 - 6.50%	4.60 - 6.50%
Rate of compensation increase	3.55 - 4.05%	3.70 - 4.40%	3.25 - 3.85%	NA	NA	N/A	2.25 - 3.50%	2.25 - 3.50%	2.25 - 3.50%

Estimated Future Benefit Payments

Estimated future benefit payments for plans are as follows at December 31, 2015 (in millions):

	U.K.		U.S.		Other
2016	$	143	$	164	$	38
2017	149		172		39
2018	157		184		40
2019	170		192		41
2020	180		187		42
2021 – 2025	1,048		952		227

U.S. [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair values of pension plan assets

The fair values of the Company's U.S. pension plan assets at December 31, 2015 and December 31, 2014, by asset category, are as follows (in millions):

			Fair Value Measurements Using
Asset Category	Balance at December 31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and cash equivalents (1)	$	33	$	33	$	—	$	—
Equity investments: (2)
Large cap domestic	299		299		—		—
Small cap domestic	88		30		58		—
International	262		52		210		—
Equity derivatives	203		170		33		—
Fixed income investments: (3)
Corporate bonds	484		—		148		336
Government and agency bonds	128		52		76		—
Asset-backed securities	—		—		—		—
Fixed income derivatives	69		47		22		—
Other investments:
Alternative investments (4)	305		—		—		305
Commodity derivatives (5)	13		—		13		—
Real estate and REITS (6)	67		67		—		—
Total	$	1,951	$	750	$	560	$	641

(1) Consists of cash and institutional short-term investment funds.

(2) Consists of equity securities, equity derivatives, and pooled equity funds.

(3) Consists of corporate and government bonds, asset-backed securities, and fixed income derivatives.

(4) Consists of limited partnerships, private equity and hedge funds.

(5) Consists of long-dated options and swaps on a commodity index.

(6) Consists of exchange traded real estate investment trusts ("REITS").

				Fair Value Measurements Using
Asset Category	Balance at December 31, 2014			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Cash and cash equivalents (1)	$	68		$	68	$	—		$	—
Equity investments: (2)
Large cap domestic	329			329		—			—
Small cap domestic	85			22		63			—
International	258			114		144			—
Equity derivatives	285			209		76			—
Fixed income investments: (3)
Corporate bonds	503			—		151			352
Government and agency bonds	109			29		80			—
Asset-backed securities	20			—		20			—
Fixed income derivatives	49			—		49			—
Other investments:
Alternative investments (4)	272			—		—			272
Commodity derivatives (5)	(8		)	—		(8		)	—
Real estate and REITS (6)	66			66		—			—
Total	$	2,036		$	837	$	575		$	624

(1) Consists of cash and institutional short-term investment funds.

(2) Consists of equity securities, equity derivatives, and pooled equity funds.

(3) Consists of corporate and government bonds, asset-backed securities, and fixed income derivatives.

(4) Consists of limited partnerships, private equity and hedge funds.

(5) Consists of long-dated options on a commodity index.

(6) Consists of exchange traded REITS.

Changes in the Level 3 fair-value category

The following table presents the changes in the Level 3 fair-value category in the Company's U.S. pension plans for the years ended December 31, 2015 and December 31, 2014 (in millions):

	Fair Value Measurement Using Level 3 Inputs
Balance at January 1, 2014	$	266
Actual return on plan assets:
Relating to assets still held at December 31, 2014	32
Relating to assets sold during 2014	5
Purchases, sales and settlements—net	321
Transfer in/(out) of Level 3	—
Balance at December 31, 2014	624
Actual return on plan assets:
Relating to assets still held at December 31, 2015	(4		)
Relating to assets sold during 2015	(3		)
Purchases, sales and settlements—net	24
Transfer in/(out) of Level 3	—
Balance at December 31, 2015	$	641

U.K. [Member]

Defined Benefit Plan Disclosure [Line Items]

Fair values of pension plan assets

The fair values of the Company's major U.K. pension plan assets at December 31, 2015 and December 31, 2014, by asset category, are as follows (in millions):

			Fair Value Measurements Using
	Balance at December 31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and cash equivalents	$	159	$	159	$	—	$	—
Equity investments:
Pooled funds: (1)
Global	360		61		299		—
Europe	17		—		17		—
Equity securities — global (2)	133		133		—		—
Derivatives (2)	66		—		66		—
Fixed income investments:
Pooled funds: (1)
Fixed income securities	283		—		259		24
Fixed income securities (3)	3,145		2,268		877		—
Annuities	827		—		—		827
Derivatives (3)	111		—		111		—
Other investments:
Pooled funds: (1)
Real estate (4)	65		—		—		65
Alternative investments (5)	717		—		4		713
Real estate	20		—		—		20
Total	$	5,903	$	2,621	$	1,633	$	1,649

(1) Consists of various equity, fixed income, commodity, and real estate mutual fund type investment vehicles.

(2) Consists of equity securities and equity derivatives.

(3) Consists of corporate and government bonds and fixed income derivatives.

(4) Consists of property funds and trusts holding direct real estate investments.

(5) Consists of limited partnerships, private equity and hedge funds.

			Fair Value Measurements Using
	Balance at December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and cash equivalents	$	224	$	224	$	—	$	—
Equity investments:
Pooled funds: (1)
Global	203		—		203		—
Europe	16		—		16		—
Equity securities — global (2)	127		127		—		—
Derivatives (2)	—		—		—		—
Fixed income investments:
Pooled funds: (1)
Fixed income securities	279		—		279		—
Fixed income securities (3)	3,292		3,292		—		—
Annuities	836		—		—		836
Derivatives (3)	233		—		233		—
Other investments:
Pooled funds: (1)
Real estate (4)	39		—		—		39
Alternative investments (5)	968		—		—		968
Real estate	7		—		—		7
Total	$	6,224	$	3,643	$	731	$	1,850

(1) Consists of various equity, fixed income, commodity, and real estate mutual fund type investment vehicles.

(2) Consists of equity securities and equity derivatives.

(3) Consists of corporate and government bonds and fixed income derivatives.

(4) Consists of property funds and trusts holding direct real estate investments.

(5) Consists of limited partnerships, private equity and hedge funds.

Changes in the Level 3 fair-value category

The following table presents the changes in the Level 3 fair-value category in the Company's U.K. pension plans for the years ended December 31, 2015 and December 31, 2014 (in millions):

	Fair Value Measurements Using Level 3 Inputs
	Annuities			Real Estate			Alternative Investments			Fixed			Total
Balance at January 1, 2014	$	564		$	23		$	546		$	—		$	1,133
Actual return on plan assets:
Relating to assets still held at December 31, 2014	(13		)	3			319			—			309
Relating to assets sold during 2014	—			1			5			—			6
Purchases, sales and settlements—net	333			21			359			—			713
Transfers in/(out) of Level 3	—			—			(206		)	—			(206		)
Foreign exchange	(48		)	(2		)	(55		)	—			(105		)
Balance at December 31, 2014	836			46			968			—			1,850
Actual return on plan assets:
Relating to assets still held at December 31, 2015	(32		)	11			(17		)	(7		)	(45		)
Relating to assets sold during 2015	—			(10		)	2			(1		)	(9		)
Purchases, sales and settlements—net	58			41			60			9			168
Transfers in/(out) of Level 3	—			—			(266		)	24			(242		)
Foreign exchange	(35		)	(3		)	(34		)	(1		)	(73		)
Balance at December 31, 2015	$	827		$	85		$	713		$	24		$	1,649

U.S. and Canadian Other Post-Retirement Benefits [Member]

Defined Benefit Plan Disclosure [Line Items]

Reconciliation of the changes in the benefit obligations and fair value of assets and a statement of the funded status

The following table provides an overview of the accumulated projected benefit obligation, fair value of plan assets, funded status and net amount recognized as of December 31, 2015 and 2014 for the Company's other significant post-retirement benefit plans located in the U.S. and Canada (in millions):

	2015			2014
Accumulated projected benefit obligation	$	105		$	116
Fair value of plan assets	18			19
Funded status	(87		)	(97		)
Unrecognized prior-service credit	(3		)	(4		)
Unrecognized loss	7			15
Net amount recognized	$	(83	)	$	(86	)

Fair values of pension plan assets

The fair values of the Company's Other major pension plan assets at December 31, 2015 and December 31, 2014, by asset category, are as follows (in millions):

			Fair Value Measurements Using
	Balance at December 31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and cash equivalents	$	11	$	11	$	—	$	—
Equity investments:
Pooled funds: (1)
Global	270		—		270		—
North America	37		—		37		—
Fixed income investments:
Pooled funds: (1)
Fixed income securities	576		—		576		—
Derivatives	12		—		12		—
Fixed income securities (2)	30		—		30		—
Derivatives (2)	48		—		48		—
Other investments:
Pooled funds: (1)
Commodities	2		—		2		—
REITS (3)	3		—		3		—
Alternative investments (4)	9		—		—		9
Derivatives	21		—		21		—
Total	$	1,019	$	11	$	999	$	9

(1) Consists of various equity, fixed income, commodity, and real estate mutual fund type investment vehicles.

(2) Consists of corporate and government bonds and fixed income derivatives.

(3) Consists of property funds and trusts holding direct real estate investments.

(4) Consists of limited partnerships, private equity and hedge funds.

			Fair Value Measurements Using
	Balance at December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and cash equivalents	$	12	$	12	$	—	$	—
Equity investments:
Pooled funds: (1)
Global	295		—		295		—
North America	42		—		42		—
Fixed income investments:
Pooled funds: (1)
Fixed income securities	629		—		629		—
Derivatives	18		—		18		—
Fixed income securities (2)	35		—		35		—
Derivatives (2)	74		—		74		—
Other investments:
Pooled funds: (1)
Commodities	21		—		21		—
REITS (3)	3		—		3		—
Alternative investments (4)	8		—		—		8
Derivatives	24		—		24		—
Total	$	1,161	$	12	$	1,141	$	8

(1) Consists of various equity, fixed income, commodity, and real estate mutual fund type investment vehicles.

(2) Consists of corporate and government bonds and fixed income derivatives.

(3) Consists of property funds and trusts holding direct real estate investments.

(4) Consists of limited partnerships, private equity and hedge funds.

Changes in the Level 3 fair-value category

The following table presents the changes in the Level 3 fair-value category in the Company's other pension plans for the years ended December 31, 2015 and December 31, 2014 (in millions):

	Fair Value Measurements Using Level 3 Inputs
	Real Estate			Alternative Investments			Total
Balance at January 1, 2014	$	17		$	8		$	25
Actual return on plan assets:
Relating to assets still held at December 31, 2014	—			1			1
Relating to assets sold during 2014	—			—			—
Purchases, sales and settlements—net	(17		)	—			(17		)
Transfers in/(out) of Level 3	—			—			—
Foreign exchange	—			(1		)	(1		)
Balance at December 31, 2014	—			8			8
Actual return on plan assets:
Relating to assets still held at December 31, 2015	—			2			2
Relating to assets sold during 2015	—			—			—
Purchases, sales and settlements—net	—			—			—
Transfers in/(out) of Level 3	—			—			—
Foreign exchange	—			(1		)	(1		)
Balance at December 31, 2015	$	—		$	9		$	9

Other information related to the Company's other post-retirement benefit plans

Other information related to the Company's other post-retirement benefit plans are as follows:

	2015	2014	2013
Net periodic benefit cost recognized (millions)	$6	$3	$4
Weighted-average discount rate used to determine future benefit obligations	3.99-4.33%	3.83 - 4.08	4.44 - 4.95
Weighted-average discount rate used to determine net periodic benefit costs	3.83-4.08%	4.44 - 4.95	3.67 - 4.00