XML 39 R50.htm IDEA: XBRL DOCUMENT v2.4.1.9
Pension Savings And Other Postretirement Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
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)
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Benefits cost:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Service cost
$
15

 
$
45

 
$
39

 
$
34

 
$
39

 
$
31

 
$
4

 
$
6

 
$
6

Interest cost
256

 
243

 
261

 
131

 
131

 
143

 
19

 
19

 
24

Expected return on plan assets
(311
)
 
(335
)
 
(299
)
 
(118
)
 
(111
)
 
(117
)
 
(1
)
 
(1
)
 
(1
)
Amortization of prior service cost (credit)
1

 
17

 
23

 
1

 
1

 
2

 
(45
)
 
(45
)
 
(40
)
Amortization of net losses
114

 
205

 
179

 
35

 
50

 
45

 
8

 
12

 
11

Net periodic cost
75

 
175

 
203

 
83

 
110

 
104

 
(15
)
 
(9
)
 
—

Curtailments/settlements
32

 
—

 
1

 
(13
)
 
4

 
11

 
—

 
—

 
—

Termination benefits
—

 
—

 
—

 
—

 
—

 
1

 
—

 
—

 
—

Total benefits cost
$
107

 
$
175

 
$
204

 
$
70

 
$
114

 
$
116

 
$
(15
)
 
$
(9
)
 
$
—

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

 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Prior service (credit) cost from plan amendments
$
(1
)
 
$
(30
)
 
$
—

 
$
1

 
$
(1
)
 
$
6

 
$
—

 
$
—

 
$
(82
)
Increase (decrease) in net actuarial losses
292

 
(374
)
 
665

 
(78
)
 
(128
)
 
372

 
3

 
(51
)
 
(4
)
Amortization of prior service (cost) credit in net periodic cost
(1
)
 
(17
)
 
(23
)
 
(1
)
 
(1
)
 
(2
)
 
45

 
47

 
40

Amortization of net losses in net periodic cost
(114
)
 
(205
)
 
(179
)
 
(36
)
 
(53
)
 
(43
)
 
(8
)
 
(13
)
 
(11
)
Immediate recognition of prior service cost and unrecognized gains and losses due to curtailments, settlements, and divestitures
(32
)
 
—

 
(1
)
 
(16
)
 
(3
)
 
(11
)
 
—

 
—

 
—

Total recognized in other comprehensive loss (income) before tax and minority
144

 
(626
)
 
462

 
(130
)
 
(186
)
 
322

 
40

 
(17
)
 
(57
)
Total recognized in total benefits cost and other comprehensive loss (income) before tax and minority
$
251

 
$
(451
)
 
$
666

 
$
(60
)
 
$
(72
)
 
$
438

 
$
25

 
$
(26
)
 
$
(57
)

  
Schedule of Defined Benefit Plans Disclosures [Table Text Block]
The change in benefit obligation and plan assets for 2014 and 2013 and the amounts recognized in our Consolidated Balance Sheet at December 31, 2014 and 2013 are as follows:
 
Pension Plans
 
 
 
 
 
U.S.
 
Non-U.S.
 
Other Postretirement Benefits
(In millions)
2014
 
2013
 
2014
 
2013
 
2014
 
2013
Change in benefit obligation:
 

 
 

 
 

 
 

 
 

 
 

Beginning balance
$
(5,981
)
 
$
(6,756
)
 
$
(3,129
)
 
$
(3,220
)
 
$
(388
)
 
(474
)
Newly adopted plans
—

 
—

 
(3
)
 
(3
)
 
—

 
—

Service cost — benefits earned
(15
)
 
(45
)
 
(34
)
 
(39
)
 
(4
)
 
(6
)
Interest cost
(256
)
 
(243
)
 
(131
)
 
(131
)
 
(19
)
 
(19
)
Plan amendments
1

 
30

 
(2
)
 
1

 
—

 
—

Actuarial (loss) gain
(693
)
 
605

 
(394
)
 
89

 
—

 
50

Participant contributions
—

 
—

 
(2
)
 
(2
)
 
(16
)
 
(16
)
Curtailments/settlements
1

 
—

 
69

 
13

 
—

 
—

Foreign currency translation
—

 
—

 
284

 
18

 
17

 
21

Benefit payments
436

 
428

 
164

 
145

 
49

 
56

Ending balance
$
(6,507
)
 
$
(5,981
)
 
$
(3,178
)
 
$
(3,129
)
 
$
(361
)
 
$
(388
)
Change in plan assets:
 

 
 

 
 

 
 

 
 

 
 

Beginning balance
$
4,800

 
$
4,100

 
$
2,455

 
$
2,354

 
$
5

 
$
6

Actual return on plan assets
711

 
104

 
505

 
140

 
—

 
—

Company contributions to plan assets
1,167

 
1,016

 
118

 
111

 
2

 
2

Cash funding of direct participant payments
9

 
8

 
44

 
27

 
31

 
38

Participant contributions
—

 
—

 
2

 
2

 
16

 
16

Settlements
(1
)
 
—

 
(39
)
 
(13
)
 
—

 
—

Foreign currency translation
—

 
—

 
(200
)
 
(21
)
 
—

 
(1
)
Benefit payments
(436
)
 
(428
)
 
(164
)
 
(145
)
 
(49
)
 
(56
)
Ending balance
$
6,250

 
$
4,800

 
$
2,721

 
$
2,455

 
$
5

 
$
5

Funded status at end of year
$
(257
)
 
$
(1,181
)
 
$
(457
)
 
$
(674
)
 
$
(356
)
 
$
(383
)

  
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)
2014
 
2013
 
2014
 
2013
 
2014
 
2013
Noncurrent assets
$
9

 
$
51

 
$
274

 
$
59

 
$
—

 
$
—

Current liabilities
(10
)
 
(12
)
 
(24
)
 
(25
)
 
(28
)
 
(33
)
Noncurrent liabilities
(256
)
 
(1,220
)
 
(707
)
 
(708
)
 
(328
)
 
(350
)
Net amount recognized
$
(257
)
 
$
(1,181
)
 
$
(457
)
 
$
(674
)
 
$
(356
)
 
$
(383
)
  
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)
2014
 
2013
 
2014
 
2013
 
2014
 
2013
Prior service cost (credit)
$
(4
)
 
$
31

 
$
4

 
$
7

 
$
(152
)
 
$
(199
)
Net actuarial loss
2,985

 
2,806

 
854

 
981

 
99

 
106

Gross amount recognized
2,981

 
2,837

 
858

 
988

 
(53
)
 
(93
)
Deferred income taxes
(177
)
 
(125
)
 
(141
)
 
(120
)
 
(1
)
 
12

Minority shareholders’ equity
(62
)
 
(57
)
 
(109
)
 
(153
)
 
1

 
1

Net amount recognized
$
2,742

 
$
2,655

 
$
608

 
$
715

 
$
(53
)
 
$
(80
)
  
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
 
2014
 
2013
 
2014
 
2013
Discount rate:
 

 
 

 
 

 
 

— U.S.
3.89
%
 
4.51
%
 
3.59
%
 
4.06
%
— Non-U.S.
3.31

 
4.36

 
4.89

 
6.62

Rate of compensation increase:
 

 
 

 
 

 
 

— U.S.
N/A

 
N/A

 
N/A

 
N/A

— Non-U.S.
2.88

 
3.11

 
N/A

 
4.32



The following table presents significant weighted average assumptions used to determine benefits cost for the years ended December 31:
 
Pension Plans
 
Other Postretirement Benefits
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount rate:
 

 
 

 
 

 
 

 
 

 
 

— U.S.
4.40
%
 
3.77
%
 
4.52
%
 
4.06
%
 
3.30
%
 
3.98
%
— Non-U.S.
4.36

 
4.12

 
5.07

 
6.62

 
5.64

 
5.91

Expected long term return on plan assets:
 

 
 

 
 

 
 

 
 

 
 
— U.S.
5.47

 
7.16

 
8.50

 
N/A

 
N/A

 
N/A

— Non-U.S.
5.12

 
5.01

 
5.56

 
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.
3.11

 
3.23

 
3.36

 
4.32

 
4.12

 
3.71

  
Schedule of Expected Benefit Payments [Table Text Block]
The following table presents estimated future benefit payments from the plans as of December 31, 2014. 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
2015
$
458

 
$
143

 
$
31

 
$
1

2016
447

 
144

 
28

 
1

2017
434

 
150

 
27

 
1

2018
431

 
157

 
27

 
1

2019
422

 
163

 
26

 
1

2020-2024
2,032

 
991

 
124

 
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)
2014
 
2013
 
2014
 
2013
All plans:
 

 
 

 
 

 
 

Accumulated benefit obligation
$
6,495

 
$
5,966

 
$
3,040

 
$
3,008

Plans not fully-funded:
 

 
 

 
 

 
 

Projected benefit obligation
$
5,087

 
$
4,101

 
$
1,112

 
$
2,106

Accumulated benefit obligation
5,076

 
4,086

 
994

 
2,004

Fair value of plan assets
4,822

 
2,869

 
384

 
1,375

  
Schedule of Health Care Cost Trend Rates [Table Text Block]
Assumed health care cost trend rates at December 31 follow:
 
2014
 
2013
Health care cost trend rate assumed for the next year
7.0
%
 
7.5
%
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

 
2022

  
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, 2014 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
$
22

 
$
(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.
 
2014
 
2013
 
2014
 
2013
Cash and short term securities
4
%
 
3
%
 
1
%
 
3
%
Equity securities
6

 
41

 
15

 
23

Debt securities
90

 
55

 
73

 
59

Alternatives
—

 
1

 
11

 
15

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, 2014, 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
$
229

 
$
218

 
$
11

 
$
—

 
$
32

 
$
27

 
$
5

 
$
—

Equity Securities
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
Common and Preferred Stock:
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
Non-U.S. Companies
—

 
—

 
—

 
—

 
19

 
19

 
—

 
—

Commingled Funds
12

 
—

 
12

 
—

 
328

 
19

 
309

 
—

Mutual Funds
—

 
—

 
—

 
—

 
70

 
7

 
63

 
—

Partnership Interests
362

 
—

 
133

 
229

 
—

 
—

 
—

 
—

Debt Securities
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
Corporate Bonds
2,678

 
—

 
2,678

 
—

 
179

 
17

 
162

 
—

Government Bonds
1,401

 
—

 
1,401

 
—

 
616

 
57

 
559

 
—

Asset Backed Securities
123

 
—

 
123

 
—

 
4

 
2

 
2

 
—

Commingled Funds
960

 
—

 
960

 
—

 
1,204

 
—

 
1,204

 
—

Mutual Funds
468

 
—

 
468

 
—

 
28

 
23

 
5

 
—

Alternatives
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
Commingled Funds
—

 
—

 
—

 
—

 
129

 
—

 
7

 
122

Real Estate
—

 
—

 
—

 
—

 
136

 
—

 
2

 
134

Other Investments
2

 
—

 
—

 
2

 
24

 
3

 
—

 
21

Total Investments
6,235

 
$
218

 
$
5,786

 
$
231

 
2,769

 
$
174

 
$
2,318

 
$
277

Other
15

 
 

 
 

 
 

 
(48
)
 
 

 
 

 
 

Total Plan Assets
$
6,250

 
 

 
 

 
 

 
$
2,721

 
 

 
 

 
 
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

 
 

 
 

 
 
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, 2014:
 
U.S.
 
Non-U.S.
(In millions)
Partnership Interests
 
Other
 
Commingled Funds
 
Real Estate
 
Other
Balance, beginning of year
$
209

 
$
6

 
$
163

 
$
170

 
$
19

Realized gains (losses)
31

 
—

 
1

 
1

 
—

Unrealized gains (losses) relating to instruments still held at the reporting date
(15
)
 
—

 
7

 
18

 
—

Purchases, sales, issuances and settlements (net)
4

 
(4
)
 
(42
)
 
(47
)
 
5

Foreign currency translation
—

 
—

 
(7
)
 
(8
)
 
(3
)
Balance, end of year
$
229

 
$
2

 
$
122

 
$
134

 
$
21


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