XML 101 R78.htm IDEA: XBRL DOCUMENT v3.24.2.u1
RETIREMENT BENEFITS - Funded Status and Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Change in projected benefit obligation          
Actuarial (gain) $ 1   $ 1 $ 1 $ 1
U.S. plans | Pension plans          
Change in projected benefit obligation          
Projected benefit obligation at beginning of year   $ 9,640   9,640  
Plans measured annually          
Service cost 0   0 0 0
Interest cost on benefit obligation 119   123 236 250
Change in plan assets          
Plan assets at fair value at beginning of year   10,210   10,210  
Net amount recognized at period end          
Benefit asset 1,147     1,147  
Benefit liability (488)     (488)  
Net amount recognized on the balance sheet—Significant Plans 659     659  
Amounts recognized in AOCI at period end(3)          
Prior service (expense) benefit 0     0  
Net actuarial (loss) gain (6,251)     (6,251)  
Net amount recognized in equity-pretax (6,251)     (6,251)  
Accumulated benefit obligation at period end—Significant Plans 9,147     9,147  
U.S. plans | Pension plans | Other than Significant Plans Measured Annually          
Change in projected benefit obligation          
Projected benefit obligation at beginning of year   18   18  
Plans measured annually          
Change in plan assets          
Plan assets at fair value at beginning of year   0   0  
U.S. plans | Pension plans | Significant Plans Measured Quarterly          
Change in projected benefit obligation          
Projected benefit obligation at beginning of year 9,378 9,622   9,622  
Plans measured annually (9,147) (9,378)   (9,147)  
Service cost 0        
Interest cost on benefit obligation 119        
Actuarial (gain) (118)        
Benefits paid, net of participants’ contributions (232)        
Foreign exchange impact and other 0        
Projected benefit obligation at period end—Significant Plans 9,147 9,378   9,147  
Quarter activity   (244)      
Change in plan assets          
Plan assets at fair value at beginning of year 10,009 10,210   10,210  
Actual return on plan assets 15        
Company contributions, net of reimbursements 14        
Benefits paid, net of participants’ contributions (232)        
Foreign exchange impact 0        
Plan assets at fair value at period end—Significant Plans 9,806 10,009   9,806  
Quarterly activity   (201)      
Funded status of the Significant Plans 659     659  
U.S. plans | Postretirement benefit plans          
Change in projected benefit obligation          
Projected benefit obligation at beginning of year   343   343  
Plans measured annually          
Service cost 0   0 0 0
Interest cost on benefit obligation 4   4 8 9
Change in plan assets          
Plan assets at fair value at beginning of year   231   231  
Net amount recognized at period end          
Benefit asset 0     0  
Benefit liability (103)     (103)  
Net amount recognized on the balance sheet—Significant Plans (103)     (103)  
Amounts recognized in AOCI at period end(3)          
Prior service (expense) benefit 68     68  
Net actuarial (loss) gain 111     111  
Net amount recognized in equity-pretax 179     179  
Accumulated benefit obligation at period end—Significant Plans 320     320  
U.S. plans | Postretirement benefit plans | Other than Significant Plans Measured Annually          
Change in projected benefit obligation          
Projected benefit obligation at beginning of year   0   0  
Plans measured annually          
Change in plan assets          
Plan assets at fair value at beginning of year   0   0  
U.S. plans | Postretirement benefit plans | Significant Plans Measured Quarterly          
Change in projected benefit obligation          
Projected benefit obligation at beginning of year 331 343   343  
Plans measured annually (320) (331)   (320)  
Service cost 0        
Interest cost on benefit obligation 4        
Actuarial (gain) (3)        
Benefits paid, net of participants’ contributions (12)        
Foreign exchange impact and other 0        
Projected benefit obligation at period end—Significant Plans 320 331   320  
Quarter activity   (12)      
Change in plan assets          
Plan assets at fair value at beginning of year 231 231   231  
Actual return on plan assets 0        
Company contributions, net of reimbursements (2)        
Benefits paid, net of participants’ contributions (12)        
Foreign exchange impact 0        
Plan assets at fair value at period end—Significant Plans 217 231   217  
Quarterly activity   0      
Funded status of the Significant Plans (103)     (103)  
Non-U.S. plans | Pension plans          
Change in projected benefit obligation          
Projected benefit obligation at beginning of year   7,030   7,030  
Plans measured annually          
Service cost 30   30 59 58
Interest cost on benefit obligation 109   102 218 200
Change in plan assets          
Plan assets at fair value at beginning of year   6,426   6,426  
Net amount recognized at period end          
Benefit asset 743     743  
Benefit liability (817)     (817)  
Net amount recognized on the balance sheet—Significant Plans (74)     (74)  
Amounts recognized in AOCI at period end(3)          
Prior service (expense) benefit (6)     (6)  
Net actuarial (loss) gain (1,503)     (1,503)  
Net amount recognized in equity-pretax (1,509)     (1,509)  
Accumulated benefit obligation at period end—Significant Plans 4,721     4,721  
Non-U.S. plans | Pension plans | Other than Significant Plans Measured Annually          
Change in projected benefit obligation          
Projected benefit obligation at beginning of year   1,663   1,663  
Plans measured annually          
Change in plan assets          
Plan assets at fair value at beginning of year   (1,198)   (1,198)  
Non-U.S. plans | Pension plans | Significant Plans Measured Quarterly          
Change in projected benefit obligation          
Projected benefit obligation at beginning of year 5,291 5,367   5,367  
Plans measured annually (4,915) (5,291)   (4,915)  
Service cost 12        
Interest cost on benefit obligation 90        
Actuarial (gain) (116)        
Benefits paid, net of participants’ contributions (81)        
Foreign exchange impact and other (281)        
Projected benefit obligation at period end—Significant Plans 4,915 5,291   4,915  
Quarter activity   (76)      
Change in plan assets          
Plan assets at fair value at beginning of year 5,116 5,228   5,228  
Actual return on plan assets 1        
Company contributions, net of reimbursements 8        
Benefits paid, net of participants’ contributions (81)        
Foreign exchange impact (203)        
Plan assets at fair value at period end—Significant Plans 4,841 5,116   4,841  
Quarterly activity   (112)      
Funded status of the Significant Plans (74)     (74)  
Non-U.S. plans | Postretirement benefit plans          
Change in projected benefit obligation          
Projected benefit obligation at beginning of year   1,208   1,208  
Plans measured annually          
Service cost 1   0 1 1
Interest cost on benefit obligation 28   $ 27 57 $ 52
Change in plan assets          
Plan assets at fair value at beginning of year   970   970  
Net amount recognized at period end          
Benefit asset 0     0  
Benefit liability (5)     (5)  
Net amount recognized on the balance sheet—Significant Plans (5)     (5)  
Amounts recognized in AOCI at period end(3)          
Prior service (expense) benefit 27     27  
Net actuarial (loss) gain (272)     (272)  
Net amount recognized in equity-pretax (245)     (245)  
Accumulated benefit obligation at period end—Significant Plans 870     870  
Non-U.S. plans | Postretirement benefit plans | Other than Significant Plans Measured Annually          
Change in projected benefit obligation          
Projected benefit obligation at beginning of year   219   219  
Plans measured annually          
Change in plan assets          
Plan assets at fair value at beginning of year   (9)   (9)  
Non-U.S. plans | Postretirement benefit plans | Significant Plans Measured Quarterly          
Change in projected benefit obligation          
Projected benefit obligation at beginning of year 986 989   989  
Plans measured annually (870) (986)   (870)  
Service cost 0        
Interest cost on benefit obligation 25        
Actuarial (gain) (29)        
Benefits paid, net of participants’ contributions (20)        
Foreign exchange impact and other (92)        
Projected benefit obligation at period end—Significant Plans 870 986   870  
Quarter activity   (3)      
Change in plan assets          
Plan assets at fair value at beginning of year 953 961   961  
Actual return on plan assets 22        
Company contributions, net of reimbursements 0        
Benefits paid, net of participants’ contributions (20)        
Foreign exchange impact (90)        
Plan assets at fair value at period end—Significant Plans 865 953   865  
Quarterly activity   $ (8)      
Funded status of the Significant Plans (5)     (5)  
Qualified plans | U.S. plans | Pension plans | Significant Plans Measured Quarterly          
Change in plan assets          
Funded status of the Significant Plans 1,147     1,147  
Qualified plans | U.S. plans | Postretirement benefit plans | Significant Plans Measured Quarterly          
Change in plan assets          
Funded status of the Significant Plans (103)     (103)  
Qualified plans | Non-U.S. plans | Pension plans | Significant Plans Measured Quarterly          
Change in plan assets          
Funded status of the Significant Plans (74)     (74)  
Qualified plans | Non-U.S. plans | Postretirement benefit plans | Significant Plans Measured Quarterly          
Change in plan assets          
Funded status of the Significant Plans (5)     (5)  
Nonqualified plans | U.S. plans | Pension plans | Significant Plans Measured Quarterly          
Change in plan assets          
Funded status of the Significant Plans (488)     (488)  
Nonqualified plans | U.S. plans | Postretirement benefit plans | Significant Plans Measured Quarterly          
Change in plan assets          
Funded status of the Significant Plans 0     0  
Nonqualified plans | Non-U.S. plans | Pension plans | Significant Plans Measured Quarterly          
Change in plan assets          
Funded status of the Significant Plans 0     0  
Nonqualified plans | Non-U.S. plans | Postretirement benefit plans | Significant Plans Measured Quarterly          
Change in plan assets          
Funded status of the Significant Plans $ 0     $ 0