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PENSION BENEFITS (Tables) - Pension
12 Months Ended
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]  
Components of Company Plan Benefit Expense [Table Text Block]
(millions)20222021
Change in projected benefit obligation
Beginning of year$5,236 $5,675 
Service cost34 36 
Interest cost127 98 
Plan participants’ contributions 
Amendments3 18 
Actuarial (gain)loss(1,297)(130)
Benefits paid(482)(423)
Curtailment and special termination benefits (1)
Other(1)— 
Foreign currency adjustments(149)(38)
End of year$3,471 $5,236 
Change in plan assets
Fair value beginning of year$4,959 $5,211 
Actual return on plan assets(1,253)184 
Employer contributions3 
Plan participants’ contributions1 
Benefits paid(454)(397)
Foreign currency adjustments(189)(44)
Fair value end of year$3,067 $4,959 
Funded status$(404)$(277)
Amounts recognized in the Consolidated Balance Sheet consist of
Other assets$320 $448 
Other current liabilities(15)(19)
Pension liability(709)(706)
Net amount recognized$(404)$(277)
Amounts recognized in accumulated other comprehensive income consist of
Prior service cost$57 $61 
Net amount recognized$57 $61 
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]
(millions)20222021
Projected benefit obligation$2,478 $3,623 
Accumulated benefit obligation$2,469 $3,610 
Fair value of plan assets$1,756 $2,906 
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets
Information for pension plans with projected benefit obligations in excess of plan assets were:
(millions)20222021
Projected benefit obligation$2,545 $3,707 
Accumulated benefit obligation$2,517 $3,669 
Fair value of plan assets$1,821 $2,984 
Schedule of Net Benefit Costs [Table Text Block]
(millions)202220212020
Service cost$34 $36 $37 
Interest cost127 98 130 
Expected return on plan assets(258)(301)(340)
Amortization of unrecognized prior service cost9 
Other expense (income)(1)— 
Recognized net (gain) loss210 (12)184 
Net periodic benefit cost121 (171)26 
Curtailment and special termination benefits (1)(15)
Pension (income) expense:
Defined benefit plans121 (172)11 
Defined contribution plans5 20 
Total$126 $(165)$31 
Defined Benefit Plan, Assumptions [Table Text Block]
202220212020
Discount rate5.3 %2.6 %2.2 %
Long-term rate of compensation increase3.5 %3.5 %3.4 %

The worldwide weighted-average actuarial assumptions used to determine annual net periodic benefit cost were:
202220212020
Discount rate3.3 %2.3 %2.8 %
Discount rate - interest3.0 %1.8 %2.4 %
Long-term rate of compensation increase3.5 %3.4 %3.4 %
Long-term rate of return on plan assets6.0 %6.0 %6.8 %
Schedule of Allocation of Plan Assets [Table Text Block]
(millions)Fair Value Hierarchy Level20222021
Cash and cash equivalents (a)1, 2$11 $31 
Corporate stock, common1199 318 
Mutual funds:
Debt2 51 
Collective trusts:
Debt2302 599 
Bonds, corporate2287 396 
Bonds, government2111 597 
Bonds, other266 87 
Buy-in annuity contract3173 269 
Other (b)2, 390 104 
Sub-total$1,239 $2,452 
Investments measured at net asset value (NAV) practical expedient (c)1,828 $2,507 
Total plan assets$3,067 $4,959 
(a) Cash and cash equivalents includes Level 1 assets of $16 million and $36 million for 2022 and 2021, respectively, and Level 2 assets of ($5) million and ($5) million for 2022 and 2021, respectively.
(b) Other includes Level 2 assets of $64 million and $104 million for 2022 and 2021, respectively, and Level 3 assets of $26 million and $0 million for 2022 and 2021, respectively.
(c) Certain assets that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
Changes in fair value of the Plan's Level 3 assets are summarized as follows:
(millions)Annuity ContractOther
January 2, 2021$280 $ 
Realized and unrealized loss(9)— 
Currency translation(2)— 
January 1, 2022$269 $ 
Additions— 27 
Realized and unrealized loss(75)(1)
Currency translation(21)— 
December 31, 2022$173 $26