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Postretirement Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]  
Asset allocation
ASSET ALLOCATION
Other pension plans Principal retiree
Principal pension plans(weighted average)benefit plans
201520152015201520152015
TargetActualTargetActualTargetActual
December 31allocationallocationallocationallocationallocationallocation
Equity securities17 - 57%47%37%40%35 - 75%59%
Debt securities (including cash equivalents)13 - 5329374011 - 4627
Private equities8 - 1811540 - 2511
Real estate2 - 127980 - 121
Other investments3 - 1361280 - 102
Principal pension plans  
Defined Benefit Plan Disclosure [Line Items]  
Cost of Benefit Plans [Table Text Block]
COST OF PENSION PLANS
Principal pension plans
(In millions) 2015 2014 2013
Service cost for benefits earned$1,424 $1,205$1,535
Prior service cost amortization 205 214 246
Expected return on plan assets(3,302)(3,190)(3,500)
Interest cost on benefit obligations 2,778 2,745 2,460
Net actuarial loss amortization 3,288 2,565 3,664
Curtailment loss10565-
Pension cost$4,498 $3,604 $4,405
Assumptions used to measure pension benefit obligations
ASSUMPTIONS USED TO MEASURE PENSION BENEFIT OBLIGATIONS
Principal pension plans
December 31201520142013
Discount rate4.38%4.02%4.85%
Compensation increases3.80 4.10 4.00
Assumptions used to measure pension costs
ASSUMPTIONS USED TO MEASURE PENSION COST
Principal pension plans
December 31201520142013
Discount rate4.02%4.85%3.96%
Expected return on assets7.50 7.50 8.00
Funded status
FUNDED STATUS
Principal pension plans
December 31 (in millions)20152014
Projected benefit obligations$68,722$70,735
Fair value of plan assets45,72048,280
Underfunded$23,002$22,455
Projected benefit obligations
PROJECTED BENEFIT OBLIGATIONS
Principal pension plans
(In millions)20152014
Balance at January 1$70,735$58,113
Service cost for benefits earned1,4241,205
Interest cost on benefit obligations2,7782,745
Participant contributions155153
Plan amendments902-
Actuarial loss (gain)(4,017)(a)11,718(b)
Benefits paid(3,255)(3,199)
Balance at December 31(c)$68,722$70,735

  • Principally associated with discount rate changes.
  • Principally associated with discount rate and mortality assumption changes.
  • The PBO for the GE Supplementary Pension Plan, which is an unfunded plan, was $6,099 million and $6,632 million at year-end 2015 and 2014, respectively.

Fair value of pension plans' investments
FAIR VALUE OF PLAN ASSETS
Principal pension plans
(In millions)20152014
Balance at January 1$48,280$48,297
Actual gain on plan assets3072,793
Employer contributions233236
Participant contributions155153
Benefits paid(3,255)(3,199)
Balance at December 31$45,720$48,280
Amounts included in shareowners' equity
Principal pension plans
December 31 (in millions)20152014
Prior service cost$1,473$881
Net actuarial loss16,79521,105
Total $18,268$21,986
GE Pension Plan  
Defined Benefit Plan Disclosure [Line Items]  
Asset allocation
Principal pension plans
December 31 (in millions)20152014
Equity securities
   U.S. equity securities(a)$12,447$12,956
   Non-U.S. equity securities(a)9,0889,153
Debt securities
   Fixed income and cash investment funds3,2524,500
   U.S. corporate(b)5,5295,155
   Other debt securities(c)5,1315,729
Private equities(a)4,8855,249
Real estate(a)3,1863,129
Other investments(d)2,2022,409
Total plan assets$45,720$48,280

(a) Included direct investments and investment funds.

(b) Primarily represented investment-grade bonds of U.S. issuers from diverse industries.

(c) Primarily represented investments in residential and commercial mortgage-backed securities, non-U.S. corporate and government bonds and U.S. government, federal agency, state and municipal debt.

(d) Substantially all represented hedge fund investments.

Other pension plans and principal retiree benefit plans [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Cost of Benefit Plans [Table Text Block]
COST OF BENEFIT PLANS
Other pension plansPrincipal retiree benefit plans
(In millions) 2015 2014 2013 2015 2014 2013
Service cost for benefits earned$416$403 $435 $145$164 $229
Prior service cost (credit) amortization - 6 7 (8) 353 393
Expected return on plan assets(881)(789)(663)(48)(50)(60)
Interest cost on benefit obligations 555 587 523 335 424 410
Net actuarial loss (gain) amortization 289 205 343 (25) (150) (45)
Curtailment loss (gain)(6)--(225)(a)48 -
Benefit plans cost$373$412 $645 $174$789 $927

(a) Gain principally resulting from life insurance amendment.

Assumptions used to measure pension benefit obligations
ASSUMPTIONS USED TO MEASURE BENEFIT OBLIGATIONS
Other pension plans (weighted average)Principal retiree benefit plans
December 31201520142013201520142013
Discount rate3.33%3.53%4.39%3.93%3.89%4.61%
Compensation increases3.32 3.60 3.76 3.80 4.10 4.00
Initial healthcare trend rateN/AN/AN/A6.00(a)6.006.00

(a) For 2015, ultimately declining to 5% for 2030 and thereafter.

Assumptions used to measure pension costs
ASSUMPTIONS USED TO MEASURE BENEFIT COST
Other pension plans (weighted average)Principal retiree benefit plans
December 31201520142013201520142013
Discount rate3.53%4.39%3.92%3.89%(a)4.61%(a)3.74%(a)
Expected return on assets6.95 6.92 6.82 7.00 7.00 7.00

(a) Weighted average discount rates of 3.92%, 4.47% and 3.77% were used for determination of costs in 2015, 2014 and 2013, respectively.

Funded status
FUNDED STATUS
Principal retiree
Other pension plansbenefit plans
(In millions) 2015 2014 2015 2014
Benefit obligations$21,618 $15,589 $6,757 $10,703
Fair value of plan assets 17,368 12,386 695 813
Underfunded$4,250$3,203$6,062$9,890
Projected benefit obligations
BENEFIT OBLIGATIONS
Other pension plansPrincipal retiree benefit plans
(In millions)2015201420152014
Balance at January 1$15,589$13,535$10,703 $9,913
Service cost for benefits earned416403 145 164
Interest cost on benefit obligations555587 335 424
Participant contributions159 50 52
Plan amendments(12)(29) (3,291)(a) (586)
Actuarial loss (gain)(406)(b)2,170(b) (444)(b) 1,440(c)
Benefits paid(576)(493) (691) (704)
Acquisitions (dispositions)/ other - net6,859(d)48(50)-
Exchange rate adjustments(822)(641)--
Balance at December 31(e)$21,618$15,589$6,757 $10,703

  • Principally related to plan amendments affecting post-65 retiree health and retiree life insurance for certain production participants.
  • Primarily associated with discount rate changes.
  • Principally associated with discount rate and mortality assumption changes.
  • Substantially all related to Alstom acquisition.
  • The benefit obligation for retiree health plans was $4,838 million and $8,445 million at December 31, 2015 and 2014, respectively.
Fair value of pension plans' investments
Other pension plansPrincipal retiree benefit plans
December 31 (in millions)2015201420152014
Equity securities
   U.S. equity securities$667$635$203$205
   Non-U.S. equity securities6,3235,285162125
Debt securities
   Fixed income and cash investment funds6,2584,07184133
   U.S. corporate2422225247
   Other debt securities55136593103
Private equities7032627594
Real estate1,358690664
Other investments1,2668562042
Total plan assets$17,368$12,386$695$813
Amounts included in shareowners' equity
Principal retiree
Other pension plansbenefit plans
December 31 (In millions) 2015 2014 2015 2014
Prior service cost (credit)$(29)$(23)$(3,132)$(24)
Net actuarial loss (gain)3,0803,533(464)(71)
Total$3,051 $3,510 $(3,596) $(95)
Cost of Benefit Plans
COST OF BENEFIT PLANS
Other pension plansPrincipal retiree benefit plans
(In millions) 2015 2014 2013 2015 2014 2013
Benefit plan cost$373 $412 $645 $174 $789 $927