Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

The fair values of the Company’s financial assets and liabilities by level in the fair value hierarchy as of December 31, 2014 and 2013 were as follows:



December 31, 2014	Level 1		Level 2		Total
Assets:
Foreign exchange derivative contracts	$	—	$	1	$	1
Available-for-sale securities:
Government, agency, and government-sponsored enterprise obligations	—		14		14
Corporate bonds	—		16		16
Mutual funds	—		2		2
Common stock and equivalents	71		—		71
Liabilities:
Foreign exchange derivative contracts	$	—	$	5	$	5
Interest agreement derivative contracts	—		2		2



December 31, 2013	Level 1		Level 2		Total
Assets:
Foreign exchange derivative contracts	—		4		4
Available-for-sale securities:
Government, agency, and government-sponsored enterprise obligations	—		15		15
Corporate bonds	—		7		7
Mutual funds	—		11		11
Common stock and equivalents	2		—		2
Liabilities:
Foreign exchange derivative contracts	$	—	$	2	$	2
Interest agreement derivative contracts	—		3		3

Changes In Fair Value Of Level 3 Assets

The following table summarizes the changes in fair value of the Level 3 assets:



	2014
Balance at January 1	$	26
Transfers to Level 2	(14		)
Loss on assets held	(1		)
Payments received for securities sold	(10		)
Purchases	1
Other	(2		)
Balance at December 31	$	—

Pension And Postretirement Health Care Plan Assets

Postretirement Health Care Benefits Plan



December 31, 2014	Level 1		Level 2		Total
Common stock and equivalents	$	20	$	—	$	20
Commingled equity funds	—		13		13
Government, agency, and government-sponsored enterprise obligations	—		11		11
Other government bonds	—		2		2
Corporate bonds	—		18		18
Commingled bond funds	—		—		—
Commingled short-term investment funds	—		99		99
Fair value plan assets	$	20	$	143	$	163

The table above includes no securities on loan as part of a securities lending arrangement.



December 31, 2013	Level 1		Level 2		Total
Common stock and equivalents	$	38	$	—	$	38
Commingled equity funds	—		55		55
Government, agency, and government-sponsored enterprise obligations	—		6		6
Other government bonds	—		1		1
Corporate bonds	—		9		9
Commingled bond funds	—		49		49
Commingled short-term investment funds	—		3		3
Fair value plan assets	$	38	$	123	$	161

U.S. Pension Benefit Plans

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Pension And Postretirement Health Care Plan Assets

The fair values of the various pension and postretirement health care benefits plans’ assets by level in the fair value hierarchy as of December 31, 2014 and 2013 were as follows:

U.S. Pension Benefit Plans



December 31, 2014	Level 1		Level 2		Total
Common stock and equivalents	$	902	$	—	$	902
Commingled equity funds	—		565		565
Preferred stock	3		—		3
Government, agency and government-sponsored enterprise obligations	—		520		520
Other government bonds	—		91		91
Corporate bonds	—		795		795
Mortgage-backed bonds	—		16		16
Commingled short-term investment funds	—		422		422
Total investment securities	$	905	$	2,409	$	3,314
Accrued income receivable					3
Fair value plan assets					$	3,317

The table above includes no securities on loan as part of a securities lending arrangement.



December 31, 2013	Level 1		Level 2		Total
Common stock and equivalents	$	1,424	$	—	$	1,424
Commingled equity funds	—		2,045		2,045
Preferred stock	6		—		6
Government, agency and government-sponsored enterprise obligations	—		238		238
Other government bonds	—		42		42
Corporate bonds	—		336		336
Mortgage-backed bonds	—		15		15
Commingled bond funds	—		1,862		1,862
Commingled short-term investment funds	—		96		96
Total investment securities	$	1,430	$	4,634	$	6,064
Accrued income receivable					7
Fair value plan assets					$	6,071

Non - U.S. Pension Benefit

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Pension And Postretirement Health Care Plan Assets

Non-U.S. Pension Benefit Plans



December 31, 2014	Level 1		Level 2		Total
Common stock and equivalents	$	194	$	—	$	194
Commingled equity funds	—		569		569
Government, agency, and government-sponsored enterprise obligations	—		26		26
Corporate bonds	—		316		316
Commingled bond funds	—		399		399
Commingled short-term investment funds	—		9		9
Total investment securities	$	194	$	1,319	$	1,513
Cash					233
Accrued income receivable					5
Insurance contracts					55
Fair value plan assets					$	1,806

The table above includes securities on loan as part of a securities lending arrangement of $16 million of common stock and equivalents and $12 million of corporate bonds. All securities on loan are fully collateralized.

The following table summarizes the changes in fair value of the Level 3 assets:



	2014
Balance at January 1	$	26
Transfers to Level 2	(14		)
Loss on assets held	(1		)
Payments received for securities sold	(10		)
Purchases	1
Other	(2		)
Balance at December 31	$	—



December 31, 2013	Level 1		Level 2		Level 3		Total
Common stock and equivalents	$	172	$	—	$	—	$	172
Commingled equity funds	—		558		—		558
Government, agency, and government-sponsored enterprise obligations	—		21		3		24
Corporate bonds	—		289		23		312
Commingled bond funds	—		361		—		361
Commingled short-term investment funds	—		11		—		11
Total investment securities	$	172	$	1,240	$	26	$	1,438
Accrued income receivable							61
Insurance contracts							14
Fair value plan assets							$	1,513

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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