XML 42 R50.htm IDEA: XBRL DOCUMENT v2.4.0.8
Pension Savings And Other Postretirement Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Compensation and Retirement Disclosure [Abstract]    
Schedule of Net Benefit Costs [Table Text Block]
Total benefits cost and amounts recognized in other comprehensive (income) loss follows:
 
Pension Plans
 
 
 
 
 
 
 
U.S.
 
Non-U.S.
 
Other Postretirement Benefits
(In millions)
2013
 
2012
 
2011
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
Benefits cost:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Service cost
$
45

 
$
39

 
$
41

 
$
39

 
$
31

 
$
32

 
$
6

 
$
6

 
$
6

Interest cost
243

 
261

 
283

 
131

 
143

 
150

 
19

 
24

 
30

Expected return on plan assets
(335
)
 
(299
)
 
(306
)
 
(111
)
 
(117
)
 
(131
)
 
(1
)
 
(1
)
 
—

Amortization of prior service cost (credit)
17

 
23

 
23

 
1

 
2

 
2

 
(45
)
 
(40
)
 
(37
)
Amortization of net losses
205

 
179

 
134

 
50

 
45

 
38

 
12

 
11

 
10

Net periodic cost
175

 
203

 
175

 
110

 
104

 
91

 
(9
)
 
—

 
9

Curtailments/settlements
—

 
1

 
15

 
4

 
11

 
1

 
—

 
—

 
—

Termination benefits
—

 
—

 
—

 
—

 
1

 
1

 
—

 
—

 
—

Total benefits cost
$
175

 
$
204

 
$
190

 
$
114

 
$
116

 
$
93

 
$
(9
)
 
$
—

 
$
9

Recognized in other comprehensive (income) loss before tax and minority:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Prior service (credit) cost from plan amendments
$
(30
)
 
$
—

 
$
—

 
$
(1
)
 
$
6

 
$
—

 
$
—

 
$
(82
)
 
$
—

(Decrease) increase in net actuarial losses
(374
)
 
665

 
735

 
(128
)
 
372

 
45

 
(51
)
 
(4
)
 
15

Amortization of prior service (cost) credit in net periodic cost
(17
)
 
(23
)
 
(23
)
 
(1
)
 
(2
)
 
(2
)
 
47

 
40

 
37

Amortization of net losses in net periodic cost
(205
)
 
(179
)
 
(134
)
 
(53
)
 
(43
)
 
(38
)
 
(13
)
 
(11
)
 
(10
)
Immediate recognition of prior service cost and unrecognized gains and losses due to curtailments, settlements, and divestitures
—

 
(1
)
 
(15
)
 
(3
)
 
(11
)
 
(4
)
 
—

 
—

 
—

Total recognized in other comprehensive (income) loss before tax and minority
(626
)
 
462

 
563

 
(186
)
 
322

 
1

 
(17
)
 
(57
)
 
42

Total recognized in total benefits cost and other comprehensive (income) loss before tax and minority
$
(451
)
 
$
666

 
$
753

 
$
(72
)
 
$
438

 
$
94

 
$
(26
)
 
$
(57
)
 
$
51


  
Schedule of Defined Benefit Plans Disclosures [Table Text Block]
The change in benefit obligation and plan assets for 2013 and 2012 and the amounts recognized in our Consolidated Balance Sheet at December 31, 2013 and 2012 are as follows:
 
Pension Plans
 
 
 
 
 
U.S.
 
Non-U.S.
 
Other Postretirement Benefits
(In millions)
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Change in benefit obligation:
 

 
 

 
 

 
 

 
 

 
 

Beginning balance
$
(6,756
)
 
$
(5,975
)
 
$
(3,220
)
 
$
(2,736
)
 
$
(474
)
 
(582
)
Newly adopted plans
—

 
—

 
(3
)
 
(24
)
 
—

 
—

Service cost — benefits earned
(45
)
 
(39
)
 
(39
)
 
(31
)
 
(6
)
 
(6
)
Interest cost
(243
)
 
(261
)
 
(131
)
 
(143
)
 
(19
)
 
(24
)
Plan amendments
30

 
—

 
1

 
—

 
—

 
82

Actuarial gain (loss)
605

 
(863
)
 
89

 
(383
)
 
50

 
6

Participant contributions
—

 
—

 
(2
)
 
(3
)
 
(16
)
 
(31
)
Curtailments/settlements
—

 
1

 
13

 
39

 
—

 
—

Termination benefits
—

 
—

 
—

 
(1
)
 
—

 
—

Foreign currency translation
—

 
—

 
18

 
(88
)
 
21

 
2

Benefit payments
428

 
381

 
145

 
150

 
56

 
79

Ending balance
$
(5,981
)
 
$
(6,756
)
 
$
(3,129
)
 
$
(3,220
)
 
$
(388
)
 
$
(474
)
Change in plan assets:
 

 
 

 
 

 
 

 
 

 
 

Beginning balance
$
4,100

 
$
3,523

 
$
2,354

 
$
2,091

 
$
6

 
$
6

Actual return on plan assets
104

 
497

 
140

 
158

 
—

 
—

Company contributions to plan assets
1,016

 
454

 
111

 
193

 
2

 
2

Cash funding of direct participant payments
8

 
8

 
27

 
29

 
38

 
46

Participant contributions
—

 
—

 
2

 
3

 
16

 
31

Settlements
—

 
(1
)
 
(13
)
 
(39
)
 
—

 
—

Foreign currency translation
—

 
—

 
(21
)
 
69

 
(1
)
 
—

Benefit payments
(428
)
 
(381
)
 
(145
)
 
(150
)
 
(56
)
 
(79
)
Ending balance
$
4,800

 
$
4,100

 
$
2,455

 
$
2,354

 
$
5

 
$
6

Funded status at end of year
$
(1,181
)
 
$
(2,656
)
 
$
(674
)
 
$
(866
)
 
$
(383
)
 
$
(468
)

  
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]
recognized in the Consolidated Balance Sheets consists of:
 
Pension Plans
 
 
 
 
 
U.S.
 
Non-U.S.
 
Other Postretirement Benefits
(In millions)
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Current assets
$
—

 
$
—

 
$
—

 
$
2

 
$
—

 
$
—

Noncurrent assets
51

 
—

 
59

 
33

 
—

 
—

Current liabilities
(12
)
 
(8
)
 
(25
)
 
(23
)
 
(33
)
 
(39
)
Noncurrent liabilities
(1,220
)
 
(2,648
)
 
(708
)
 
(878
)
 
(350
)
 
(429
)
Net amount recognized
$
(1,181
)
 
$
(2,656
)
 
$
(674
)
 
$
(866
)
 
$
(383
)
 
$
(468
)
  
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
mounts recognized in AOCL, net of tax, consist of:
 
Pension Plans
 
 
 
 
 
U.S.
 
Non-U.S.
 
Other Postretirement Benefits
(In millions)
2013
 
2012
 
2013
 
2012
 
2013
 
2012
Prior service cost (credit)
$
31

 
$
78

 
$
7

 
$
12

 
$
(199
)
 
$
(246
)
Net actuarial loss
2,806

 
3,385

 
981

 
1,162

 
106

 
170

Gross amount recognized
2,837

 
3,463

 
988

 
1,174

 
(93
)
 
(76
)
Deferred income taxes
(125
)
 
(125
)
 
(120
)
 
(157
)
 
12

 
4

Minority shareholders’ equity
(57
)
 
(67
)
 
(153
)
 
(174
)
 
1

 
2

Net amount recognized
$
2,655

 
$
3,271

 
$
715

 
$
843

 
$
(80
)
 
$
(70
)
  
Schedule of Assumptions Used [Table Text Block]
The following table presents significant weighted average assumptions used to determine benefit obligations at December 31:
 
Pension Plans
 
Other
Postretirement
Benefits
 
2013
 
2012
 
2013
 
2012
Discount rate:
 

 
 

 
 

 
 

— U.S.
4.51
%
 
3.71
%
 
4.06
%
 
3.30
%
— Non-U.S.
4.36

 
4.12

 
6.62

 
5.64

Rate of compensation increase:
 

 
 

 
 

 
 

— U.S.
N/A

 
N/A

 
N/A

 
N/A

— Non-U.S.
3.11

 
3.23

 
4.32

 
4.12



The following table presents significant weighted average assumptions used to determine benefits cost for the years ended December 31:
 
Pension Plans
 
Other Postretirement Benefits
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
Discount rate:
 

 
 

 
 

 
 

 
 

 
 

— U.S.
3.77
%
 
4.52
%
 
5.20
%
 
3.30
%
 
3.98
%
 
4.62
%
— Non-U.S.
4.12

 
5.07

 
5.54

 
5.64

 
5.91

 
6.52

Expected long term return on plan assets:
 

 
 

 
 

 
 

 
 

 
 
— U.S.
7.16

 
8.50

 
8.50

 
N/A

 
N/A

 
N/A

— Non-U.S.
5.01

 
5.56

 
6.29

 
N/A

 
N/A

 
N/A

Rate of compensation increase:
 

 
 

 
 

 
 

 
 

 
 
— U.S.
N/A

 
N/A

 
N/A

 
N/A

 
N/A

 
N/A

— Non-U.S.
3.23

 
3.36

 
3.43

 
4.12

 
3.71

 
3.99

  
Schedule of Expected Benefit Payments [Table Text Block]
The following table presents estimated future benefit payments from the plans as of December 31, 2013. Benefit payments for other postretirement benefits are presented net of retiree contributions:
 
Pension Plans
 
Other Postretirement Benefits
(In millions)
U.S.
 
Non-U.S.
 
Without Medicare Part D Subsidy
 
Medicare Part D Subsidy Receipts
2014
$
456

 
$
151

 
$
35

 
$
(1
)
2015
448

 
153

 
33

 
(1
)
2016
439

 
160

 
32

 
(1
)
2017
433

 
165

 
31

 
(1
)
2018
433

 
169

 
30

 
(1
)
2019-2023
2,095

 
946

 
144

 
(6
)
  
Selected Information On Pension Plans [Table Text Block]
The following table presents selected information on our pension plans:
 
U.S.
 
Non-U.S.
(In millions)
2013
 
2012
 
2013
 
2012
All plans:
 

 
 

 
 

 
 

Accumulated benefit obligation
$
5,966

 
$
6,738

 
$
3,008

 
$
3,094

Plans not fully-funded:
 

 
 

 
 

 
 

Projected benefit obligation
$
4,101

 
$
6,756

 
$
2,106

 
$
2,668

Accumulated benefit obligation
4,086

 
6,738

 
2,004

 
2,564

Fair value of plan assets
2,869

 
4,100

 
1,375

 
1,770

  
Schedule of Health Care Cost Trend Rates [Table Text Block]
Assumed health care cost trend rates at December 31 follow:
 
2013
 
2012
Health care cost trend rate assumed for the next year
7.5
%
 
8.2
%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
5.0

 
5.0

Year that the rate reaches the ultimate trend rate
2022

 
2017

  
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]
A 1% change in the assumed health care cost trend would have increased (decreased) the accumulated other postretirement benefits obligation at December 31, 2013 and the aggregate service and interest cost for the year then ended as follows:
(In millions)
1% Increase
 
1% Decrease
Accumulated other postretirement benefits obligation
$
21

 
$
(18
)
Aggregate service and interest cost
2

 
(2
)
  
Pension Plan Weighted Average Investment Allocation [Table Text Block]
Our pension plan weighted average investment allocation at December 31, by asset category, follows:
 
U.S.
 
Non-U.S.
 
2013
 
2012
 
2013
 
2012
Cash and short term securities
3
%
 
5
%
 
3
%
 
2
%
Equity securities
41

 
62

 
23

 
27

Debt securities
55

 
32

 
59

 
58

Alternatives
1

 
1

 
15

 
13

Total
100
%
 
100
%
 
100
%
 
100
%
  
Schedule of Allocation of Plan Assets [Table Text Block]
The fair values of our pension plan assets at December 31, 2013, by asset category are as follows:
 
U.S.
 
Non-U.S.
(In millions)
Total
 
Quoted
Prices
in Active
Markets
for Identical
Assets (Level 1)
 
Significant
Other
Observable
Inputs (Level 2)
 
Significant
Other
Unobservable
Inputs (Level 3)
 
Total
 
Quoted
Prices in
Active
Markets for
Identical
Assets (Level 1)
 
Significant
Other
Observable
Inputs (Level 2)
 
Significant
Other
Unobservable
Inputs (Level 3)
Cash and Short Term Securities
$
156

 
$
139

 
$
17

 
$
—

 
$
63

 
$
35

 
$
28

 
$
—

Equity Securities
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
Common and Preferred Stock:
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
U.S. Companies
55

 
55

 
—

 
—

 
23

 
23

 
—

 
—

Non-U.S. Companies
534

 
531

 
3

 
—

 
79

 
79

 
—

 
—

Commingled Funds
1,161

 
—

 
1,161

 
—

 
428

 
23

 
405

 
—

Mutual Funds
—

 
—

 
—

 
—

 
54

 
7

 
47

 
—

Partnership Interests
328

 
—

 
119

 
209

 
—

 
—

 
—

 
—

Equity Collars
(129
)
 
—

 
(129
)
 
—

 
 
 
 
 
 
 
 
Debt Securities
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
Corporate Bonds
1,215

 
—

 
1,214

 
1

 
157

 
15

 
142

 
—

Government Bonds
737

 
—

 
735

 
2

 
533

 
56

 
477

 
—

Asset Backed Securities
46

 
—

 
45

 
1

 
5

 
3

 
2

 
—

Commingled Funds
624

 
—

 
624

 
—

 
751

 
1

 
750

 
—

Mutual Funds
150

 
—

 
150

 
—

 
34

 
27

 
7

 
—

Interest Rate Swaptions
(125
)
 
—

 
(125
)
 
—

 
 
 
 
 
 
 
 
Alternatives
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
Commingled Funds
—

 
—

 
—

 
—

 
171

 
—

 
8

 
163

Real Estate
37

 
37

 
—

 
—

 
173

 
—

 
3

 
170

Other Investments
3

 
—

 
1

 
2

 
24

 
3

 
2

 
19

Total Investments
4,792

 
$
762

 
$
3,815

 
$
215

 
2,495

 
$
272

 
$
1,871

 
$
352

Other
8

 
 

 
 

 
 

 
(40
)
 
 

 
 

 
 

Total Plan Assets
$
4,800

 
 

 
 

 
 

 
$
2,455

 
 

 
 

 
 
The fair values of our pension plan assets at December 31, 2012, by asset category are as follows:
 
U.S.
 
Non-U.S.
(In millions)
Total
 
Quoted
Prices
in Active
Markets
for Identical
Assets (Level 1)
 
Significant
Other
Observable
Inputs (Level 2)
 
Significant
Other
Unobservable
Inputs (Level 3)
 
Total
 
Quoted
Prices in
Active
Markets for
Identical
Assets (Level 1)
 
Significant
Other
Observable
Inputs (Level 2)
 
Significant
Other
Unobservable
Inputs (Level 3)
Cash and Short Term Securities
$
218

 
$
207

 
$
11

 
$
—

 
$
56

 
$
32

 
$
24

 
$
—

Equity Securities
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
Common and Preferred Stock:
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
U.S. Companies
64

 
64

 
—

 
—

 
50

 
50

 
—

 
—

Non-U.S. Companies
721

 
715

 
6

 
—

 
119

 
119

 
—

 
—

Commingled Funds
1,487

 
—

 
1,487

 
—

 
376

 
21

 
355

 
—

Mutual Funds
—

 
—

 
—

 
—

 
101

 
13

 
88

 
—

Partnership Interests
254

 
—

 
63

 
191

 
—

 
—

 
—

 
—

Debt Securities
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
Corporate Bonds
519

 
—

 
518

 
1

 
130

 
15

 
115

 
—

Government Bonds
332

 
—

 
332

 
—

 
482

 
58

 
424

 
—

Asset Backed Securities
54

 
—

 
54

 
—

 
5

 
2

 
3

 
—

Commingled Funds
381

 
—

 
381

 
—

 
723

 
10

 
713

 
—

Mutual Funds
16

 
—

 
16

 
—

 
44

 
39

 
5

 
—

Alternatives
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
 Commingled Funds
—

 
—

 
—

 
—

 
150

 
3

 
4

 
143

Real Estate
48

 
48

 
—

 
—

 
142

 
—

 
4

 
138

Other Investments
2

 
—

 
—

 
2

 
19

 
—

 
—

 
19

Total Investments
4,096

 
$
1,034

 
$
2,868

 
$
194

 
2,397

 
$
362

 
$
1,735

 
$
300

Other
4

 
 

 
 

 
 

 
(43
)
 
 

 
 

 
 

Total Plan Assets
$
4,100

 
 

 
 

 
 

 
$
2,354

 
 

 
 

 
 
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
The following table sets forth a summary of changes in fair value of the pension plan investments classified as Level 3 for the year ended December 31, 2013:
 
U.S.
 
Non-U.S.
(In millions)
Partnership Interests
 
Other
 
Commingled Funds
 
Real Estate
 
Other
Balance, beginning of year
$
191

 
$
3

 
$
143

 
$
138

 
$
19

Realized gains (losses)
6

 
—

 
—

 
—

 
—

Unrealized gains relating to instruments still held at the reporting date
12

 
—

 
16

 
9

 
—

Purchases, sales, issuances and settlements (net)
—

 
3

 
—

 
19

 
—

Foreign currency translation
—

 
—

 
4

 
4

 
—

Balance, end of year
$
209

 
$
6

 
$
163

 
$
170

 
$
19


The following table sets forth a summary of changes in fair value of the pension plan investments classified as Level 3 for the year ended December 31, 2012:
 
U.S.
 
Non-U.S.
(In millions)
Partnership Interests
 
Other
 
Commingled Funds
 
Real Estate
 
Other
Balance, beginning of year
$
157

 
$
2

 
$
122

 
$
122

 
$
19

Realized gains (losses)
4

 
—

 
—

 
—

 
—

Unrealized gains relating to instruments still held at the reporting date
—

 
—

 
5

 
—

 
—

Purchases, sales, issuances and settlements (net)
30

 
—

 
10

 
10

 
—

Transfers in to Level 3
—

 
1

 
—

 
—

 
—

Foreign currency translation
—

 
—

 
6

 
6

 
—

Balance, end of year
$
191

 
$
3

 
$
143

 
$
138

 
$
19