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Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2011
Benefit Plans  
Components of the plans' funded status reflected in the Consolidated Statements of Financial Position
  Pension
benefits 		  Postretirement
benefits 		 
($ in millions)
    
  
  2011   2010   2011   2010  

Fair value of plan assets

   $ 4,675   $ 4,669   $ —   $ —  

Less: Benefit obligation

     5,831     5,545     716     628  
                   

Funded status

   $ (1,156 ) $ (876 ) $ (716 ) $ (628 )
                   

Items not yet recognized as a component of net periodic cost:

                          

Net actuarial loss (gain)

   $ 2,546   $ 2,311   $ (211 ) $ (322 )

Prior service credit

     (3 )   (5 )   (152 )   (175 )
                   

Unrecognized pension and other postretirement benefit cost, pre-tax

    
2,543		    
2,306		    
(363
)		  
(497
)

Deferred income tax

     (890 )   (807 )   137     186  
                   

Unrecognized pension and other postretirement benefit cost

   $ 1,653   $ 1,499   $ (226 ) $ (311 )
                   
 
Change during the period in items not yet recognized as a component of net periodic cost
($ in millions)
    
   Pension
benefits 		  Postretirement
benefits 		 

Items not yet recognized as a component of net periodic cost – December 31, 2010

   $ 2,306   $ (497 )

Net actuarial loss arising during the period

     437     82  

Net actuarial (loss) gain amortized to net periodic benefit cost

     (200 )   30  

Prior service cost arising during the period

     —     —  

Prior service credit amortized to net periodic benefit cost

     2     23  

Translation adjustment and other

     (2 )   (1 )
           

Items not yet recognized as a component of net periodic cost – December 31, 2011

   $ 2,543   $ (363 )
           
 
Estimates of the net actuarial loss (gain) and prior service credit expected to be recognized as a component of net periodic benefit cost in next fiscal year
($ in millions)
    
   Pension
benefits 		  Postretirement
benefits 		 

Net actuarial loss (gain)

   $ 178   $ (21 )

Prior service credit

     (2 )   (23 )
 
Changes in benefit obligations for all plans
  Pension
benefits 		  Postretirement
benefits 		 
($ in millions)
    
  
  2011   2010   2011   2010  

Benefit obligation, beginning of year

   $ 5,545   $ 5,233   $ 628   $ 666  

Service cost

     151     150     11     12  

Interest cost

     322     320     37     40  

Participant contributions

     1     1     20     22  

Actuarial loss (gain)

     337     239     82     (58 )

Benefits paid (1)

     (511 )   (407 )   (61 )   (57 )

Translation adjustment and other

     (14 )   9     (1 )   3  
                   

Benefit obligation, end of year

   $ 5,831   $ 5,545   $ 716   $ 628  
                   
(1)
Benefits paid include lump sum distributions, a portion of which may trigger settlement accounting treatment.
Components of net periodic cost
  Pension benefits   Postretirement benefits  
($ in millions)
    
  
  2011   2010   2009   2011   2010   2009  

Service cost

   $ 151   $ 150   $ 125   $ 11   $ 12   $ 13  

Interest cost

     322     320     331     37     40     52  

Expected return on plan assets

     (367 )   (331 )   (398 )   —     —     —  

Amortization of:

                                      

Prior service credit

     (2 )   (2 )   (3 )   (23 )   (22 )   (6 )

Net actuarial loss (gain)

     154     160     15     (30 )   (22 )   (29 )

Settlement loss

     46     48     22     1     —     —  
                           

Net periodic cost (credit)

   $ 304   $ 345   $ 92   $ (4 ) $ 8   $ 30  
                           
 
Weighted average assumptions used to determine for pension plans and postretirement benefits plans the net benefit cost and benefit obligation
  Pension benefits   Postretirement benefits  
($ in millions)
    
  
  2011   2010   2009   2011   2010   2009  

Discount rate

     6.00 %   6.25 %   7.50 %   6.00 %   6.25 %   6.50 %

Rate of increase in compensation levels

     4.0 - 4.5     4.0 - 4.5     4.0 - 4.5     n/a     n/a     n/a  

Expected long-term rate of return on plan assets

     8.5     8.5     8.5     n/a     n/a     n/a  

 

 
   Pension benefits   Postretirement benefits  
 
   2011   2010   2011   2010  

Discount rate

     5.25 %   6.00 %   5.25 %   6.00 %

Rate of increase in compensation levels

     4.0 - 4.5     4.0 - 4.5     n/a     n/a  
Change in pension plan assets
($ in millions)
   2011   2010  

Fair value of plan assets, beginning of year

   $ 4,669   $ 4,127  

Actual return on plan assets

     267     496  

Employer contribution

     264     443  

Benefits paid

     (511 )   (407 )

Translation adjustment and other

     (14 )   10  
           

Fair value of plan assets, end of year

   $ 4,675   $ 4,669  
           
 
Pension plans' target percentage of plan assets and the actual percentage of plan assets
  Target asset
allocation 		  Actual percentage
of plan assets 		 
Asset category
  2011   2011   2010  

U.S. equity securities

     25 - 33 %   19 %   25 %

International equity securities

     17 - 23     24     18  

Fixed income securities

     35 - 48     38     38  

Real estate funds

     3 - 7     4     4  

Private equity funds

     3 - 7     4     3  

Hedge funds

     6 - 9     7     8  

Short-term investments and other

     1 - 3     4     4  
                 

Total (1)

           100 %   100 %
                 
(1)
Securities lending collateral reinvestment is excluded from target and actual percentage of plan assets.
Fair values of pension plan assets
($ in millions)

   Quoted prices
in active
markets for
identical
assets
(Level 1) 		  Significant
other
observable
inputs
(Level 2) 		  Significant
unobservable
inputs
(Level 3) 		  Balance
as of
December 31,
2011 		 

Assets

                          

Equity securities:

                          

U.S. 

   $ 11   $ 817   $ 64   $ 892  

International

     116     986     —     1,102  

Fixed income securities:

                          

U.S. government and agencies

     634     120     —     754  

Foreign government

     —     26     —     26  

Municipal

     —     —     163     163  

Corporate

     —     869     9     878  

RMBS

     —     119     —     119  

Short-term investments

     33     494     —     527  

Limited partnership interests:

                          

Real estate funds (1)

     —     —     192     192  

Private equity funds (2)

     —     —     186     186  

Hedge funds (3)

     —     —     324     324  

Cash and cash equivalents

     18     —     —     18  

Free-standing derivatives:

                          

Assets

     1     2     —     3  

Liabilities

     (2 )   (4 )   —     (6 )
                   

Total plan assets at fair value

   $ 811   $ 3,429   $ 938     5,178  
                     

% of total plan assets at fair value

     15.7 %   66.2 %   18.1 %   100.0 %

Securities lending obligation (4)

                      
(554
)

Other net plan assets (5)

                       51  
                         

Total reported plan assets

                     $ 4,675  
                         
(1)
Real estate funds held by the pension plans are primarily invested in U.S. commercial real estate.
(2)
Private equity funds held by the pension plans are primarily comprised of North American buyout funds.
(3)
Hedge funds held by the pension plans primarily comprise fund of funds investments in diversified pools of capital across funds with underlying strategies such as convertible arbitrage, equity market neutral, fixed income arbitrage, global macro, commodity trading advisors, long short equity, short biased equity, and event driven.
(4)
The securities lending obligation represents the plan's obligation to return securities lending collateral received under a securities lending program. The terms of the program allow both the plan and the counterparty the right and ability to redeem/return the securities loaned on short notice. Due to its relatively short-term nature, the outstanding balance of the obligation approximates fair value.
(5)
Other net plan assets represent interest and dividends receivable and net receivables related to settlements of investment transactions, such as purchases and sales.

($ in millions)

   Quoted prices
in active
markets for
identical
assets
(Level 1) 		  Significant
other
observable
inputs
(Level 2) 		  Significant
unobservable
inputs
(Level 3) 		  Balance
as of
December 31,
2010 		 

Assets

                          

Equity securities:

                          

U.S. 

   $ 922   $ 216   $ 6   $ 1,144  

International

     688     154     —     842  

Fixed income securities:

                          

U.S. government and agencies

     722     71     —     793  

Foreign government

     —     14     —     14  

Municipal

     —     —     222     222  

Corporate

     —     836     10     846  

RMBS

     —     89     48     137  

Short-term investments

     89     574     —     663  

Limited partnership interests:

                          

Real estate funds

     —     —     167     167  

Private equity funds

     —     —     166     166  

Hedge funds

     —     —     373     373  

Cash and cash equivalents

     33     —     —     33  

Free-standing derivatives:

                          

Assets

     —     9     —     9  

Liabilities

     (2 )   —     —     (2 )
                   

Total plan assets at fair value

   $ 2,452   $ 1,963   $ 992     5,407  
                     

% of total plan assets at fair value

     45.4 %   36.3 %   18.3 %   100.0 %

Securities lending obligation

                      
(772
)

Other net plan assets

                       34  
                         

Total reported plan assets

                     $ 4,669  
                         
Rollforward of Level 3 plan assets
   
   Actual return on plan assets:    
    
    
  
($ in millions)


   Balance as of
December 31,
2010 		  Relating to
assets sold
during the
period 		  Relating to
assets still
held at the
reporting
date 		  Purchases,
sales,
issuances and
settlements,
net 		  Net
transfers in
and/or (out)
of Level 3 		  Balance as of
December 31,
2011 		 

Assets

                                      

U. S. equity securities

   $ 6   $ —   $ (2 ) $ 60   $ —   $ 64  

Fixed income securities:

                                      

Municipal

     222     —     1     (60 )   —     163  

Corporate

     10     1     —     (2 )   —     9  

RMBS

     48     (8 )   8     (30 )   (18 )   —  

Limited partnership interests:

                                      

Real estate funds

     167     (1 )   29     (3 )   —     192  

Private equity funds

     166     1     22     (3 )   —     186  

Hedge funds

     373     43     (48 )   (44 )   —     324  
                           

Total Level 3 plan assets

   $ 992   $ 36   $ 10   $ (82 ) $ (18 ) $ 938  
                           

 

   
   Actual return on plan assets:    
    
    
  

($ in millions)


 

   Balance as of
December 31,
2009 		  Relating to
assets sold
during the
period 		  Relating to
assets still
held at the
reporting
date 		  Purchases,
sales,
issuances and
settlements,
net 		  Net
transfers in
and/or (out)
of Level 3 		  Balance as of
December 31,
2010 		 

Assets

                                      

U. S. equity securities

   $ 4   $ —   $ 2   $ —   $ —   $ 6  

Fixed income securities:

                                      

Municipal

     344     —     (2 )   (114 )   (6 )   222  

Corporate

     10     —     —     —     —     10  

RMBS

     61     (10 )   23     (26 )   —     48  

ABS

     32     (1 )   —     (31 )   —     —  

Limited partnership interests:

                                      

Real estate funds

     135     (4 )   3     33     —     167  

Private equity funds

     149     —     19     (2 )   —     166  

Hedge funds

     368     (58 )   73     (10 )   —     373  
                           

Total Level 3 plan assets

   $ 1,103   $ (73 ) $ 118   $ (150 ) $ (6 ) $ 992  
                           

 

 
    
   Actual return on plan assets:    
    
    
  
($ in millions)



   Balance as of
January 1,
2009 		  Relating to
assets sold
during the
period 		  Relating to
assets still
held at the
reporting
date 		  Purchases,
sales,
issuances and
settlements,
net 		  Net
transfers in
and/or (out)
of Level 3 		  Balance as of
December 31,
2009 		 

Assets

                                      

U. S. equity securities

   $ 5   $ —   $ (3 ) $ 2   $ —   $ 4  

Fixed income securities:

                                      

Municipal

     408     —     22     (48 )   (38 )   344  

Corporate

     10     2     —     17     (19 )   10  

RMBS

     99     —     2     (40 )   —     61  

ABS

     —     —     —     32     —     32  

Limited partnership interests:

                                      

Real estate funds

     142     —     (47 )   40     —     135  

Private equity funds

     133     —     4     12     —     149  

Hedge funds

     341     10     37     (20 )   —     368  
                           

Total Level 3 plan assets

   $ 1,138   $ 12   $ 15   $ (5 ) $ (57 ) $ 1,103  
                           
Estimated future benefit payments expected to be paid
($ in millions)
   Postretirement benefits  
  Pension
benefits 		  Gross
benefit
payments 		 

2012

   $ 310   $ 42  

2013

     319     43  

2014

     350     45  

2015

     362     47  

2016

     396     49  

2017-2021

     2,467     272  
           

Total benefit payments

   $ 4,204   $ 498  
           
 
Schedule of ESOP benefit
($ in millions)
   2011   2010   2009  

Interest expense recognized by ESOP

   $ 2   $ 2   $ 2  

Less: dividends accrued on ESOP shares

     (2 )   (2 )   (2 )

Cost of shares allocated

     2     2     2  
               

Compensation expense

     2     2     2  

Reduction of defined contribution due to ESOP

     9     11     22  
               

ESOP benefit

   $ (7 ) $ (9 ) $ (20 )