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Pension and Other Postretirement Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2017
Retirement Benefits, Description [Abstract]  
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]
The following table provides a reconciliation of benefit obligations and plan assets of the company’s domestic and non-U.S. pension plans and postretirement benefit plans:
 
 
Domestic Pension
 Benefits
 
Non-U.S. Pension
 Benefits
 
Postretirement
Benefits
(In millions)
 
2017

 
2016

 
2017

 
2016

 
2017

 
2016

 
 
 
 
 
 
 
 
 
 
 
 
 
Change in Projected Benefit Obligations
 
 
 
 
 
 
 
 
 
 
Benefit Obligation at Beginning of Year
 
$
1,249

 
$
1,213

 
$
1,116

 
$
1,036

 
$
50

 
$
49

Business combinations
 

 
33

 
185

 
1

 
6

 

Service costs
 

 

 
26

 
24

 
1

 
1

Interest costs
 
43

 
51

 
21

 
27

 
2

 
2

Settlements
 

 

 
(60
)
 
(8
)
 

 

Plan participants' contributions
 

 

 
5

 
4

 
1

 
1

Actuarial (gains) losses
 
92

 
30

 
(34
)
 
150

 
6

 
1

Benefits paid
 
(84
)
 
(78
)
 
(37
)
 
(30
)
 
(4
)
 
(4
)
Currency translation and other
 

 

 
102

 
(88
)
 
1

 

 
 
 
 
 
 
 
 
 
 
 
 
 
Benefit Obligation at End of Year
 
$
1,300

 
$
1,249

 
$
1,324

 
$
1,116

 
$
63

 
$
50

 
 
 
 
 
 
 
 
 
 
 
 
 
Change in Fair Value of Plan Assets
 
 
 
 
 
 
 
 
 
 
Fair Value of Plan Assets at Beginning of Year
 
$
944

 
$
945

 
$
853

 
$
817

 
$
8

 
$
7

Business combinations
 

 

 
101

 

 

 

Actual return on plan assets
 
161

 
71

 
32

 
125

 
1

 
1

Employer contribution
 
160

 
6

 
37

 
50

 
3

 
3

Settlements
 

 

 
(60
)
 
(8
)
 

 

Plan participants' contributions
 

 

 
5

 
4

 
1

 
1

Benefits paid
 
(84
)
 
(78
)
 
(37
)
 
(30
)
 
(4
)
 
(4
)
Currency translation and other
 

 

 
80

 
(105
)
 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
Fair Value of Plan Assets at End of Year
 
$
1,181

 
$
944

 
$
1,011

 
$
853

 
$
9

 
$
8

 
 
 
 
 
 
 
 
 
 
 
 
 
Funded Status
 
$
(119
)
 
$
(305
)
 
$
(313
)
 
$
(263
)
 
$
(54
)
 
$
(42
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
 
$
1,300

 
$
1,249

 
$
1,256

 
$
1,048

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amounts Recognized in Balance Sheet
 
 
 
 
 
 
 
 
 
 
Non-current asset
 
$

 
$

 
$
100

 
$
63

 
$
6

 
$
4

Current liability
 
(7
)
 
(10
)
 
(10
)
 
(6
)
 
(3
)
 
(3
)
Non-current liability
 
(112
)
 
(295
)
 
(403
)
 
(320
)
 
(57
)
 
(43
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Net amount recognized
 
$
(119
)
 
$
(305
)
 
$
(313
)
 
$
(263
)
 
$
(54
)
 
$
(42
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Amounts Recognized in Accumulated Other Comprehensive Loss
 
 
 
 
 
 
 
 
 
 
Net actuarial loss
 
$
156

 
$
171

 
$
126

 
$
170

 
$
11

 
$
6

Prior service credits
 

 

 
10

 
8

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
Net amount recognized
 
$
156

 
$
171

 
$
136

 
$
178

 
$
11

 
$
6

Schedule of Assumptions Used [Table Text Block]
The actuarial assumptions used to compute the funded status for the plans are based upon information available as of December 31, 2017 and 2016 and are as follows:
 
 
Domestic Pension
Benefits
 
Non-U.S. Pension
Benefits
 
Postretirement
Benefits
 
 
2017

 
2016

 
2017

 
2016

 
2017

 
2016

 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted Average Assumptions Used to Determine Projected Benefit Obligations
 
 
 
 
 
 
 
 
 
 
Discount rate
 
3.55
%
 
4.07
%
 
2.10
%
 
1.95
%
 
3.43
%
 
3.77
%
Average rate of increase in employee compensation
 
4.00
%
 
4.00
%
 
2.59
%
 
3.09
%
 

 

Initial healthcare cost trend rate
 
 
 
 
 
 
 
 
 
6.73
%
 
6.70
%
Ultimate healthcare cost trend rate
 
 
 
 
 
 
 
 
 
5.04
%
 
5.08
%
The actuarial assumptions used to compute the net periodic pension benefit cost (income) are based upon information available as of the beginning of the year, as presented in the following table:
 
 
Domestic Pension Benefits
 
Non-U.S. Pension Benefits
 
 
2017

 
2016

 
2015

 
2017

 
2016

 
2015

 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted Average Assumptions Used to Determine Net Benefit Cost (Income)
 
 
 
 
 
 
 
 
 
 
Discount rate
 
4.06
%
 
4.25
%
 
4.00
%
 
1.95
%
 
2.83
%
 
2.69
%
Average rate of increase in employee compensation
 
4.00
%
 
4.00
%
 
4.00
%
 
3.10
%
 
3.06
%
 
3.03
%
Expected long-term rate of return on assets
 
6.50
%
 
7.00
%
 
7.00
%
 
3.11
%
 
3.74
%
 
4.21
%
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
The projected benefit obligation and fair value of plan assets for the company’s qualified and non-qualified pension plans with projected benefit obligations in excess of plan assets are as follows:
 
 
Pension Plans
(In millions)
 
2017

 
2016

 
 
 
 
 
Pension Plans with Projected Benefit Obligations in Excess of Plan Assets
 
 
 
 
Projected benefit obligation
 
$
2,059

 
$
1,907

Fair value of plan assets
 
1,527

 
1,276

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
The accumulated benefit obligation and fair value of plan assets for the company's qualified and non-qualified pension plans with accumulated benefit obligations in excess of plan assets are as follows:
 
 
Pension Plans
(In millions)
 
2017

 
2016

 
 
 
 
 
Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets
 
 
 
 
Accumulated benefit obligation
 
$
1,962

 
$
1,847

Fair value of plan assets
 
1,495

 
1,275

Schedule of Net Benefit Costs [Table Text Block]
The net periodic pension benefit cost (income) includes the following components:
 
 
Domestic Pension Benefits
 
Non-U.S. Pension Benefits
(In millions)
 
2017

 
2016

 
2015

 
2017

 
2016

 
2015

 
 
 
 
 
 
 
 
 
 
 
 
 
Components of Net Benefit Cost (Income)
 
 
 
 
 
 
 
 
 
 
Service cost-benefits earned
 
$

 
$

 
$

 
$
26

 
$
24

 
$
25

Interest cost on benefit obligation
 
43

 
51

 
50

 
21

 
27

 
28

Expected return on plan assets
 
(56
)
 
(49
)
 
(54
)
 
(29
)
 
(28
)
 
(33
)
Amortization of actuarial net loss
 
2

 

 

 
9

 
7

 
9

Settlement/curtailment loss (gain)
 
1

 

 

 
5

 

 
1

Special termination benefits
 

 

 

 

 

 
1

 
 
 
 
 
 
 
 
 
 
 
 
 
Net periodic benefit cost (income)
 
$
(10
)
 
$
2

 
$
(4
)
 
$
32

 
$
30

 
$
31

Schedule of Expected Benefit Payments [Table Text Block]
Estimated future benefit payments during the next five years and in the aggregate for the five fiscal years thereafter, are as follows:
(In millions)
 
Domestic
Pension
Benefits

 
Non-U.S.
Pension
Benefits

 
Post-
retirement
Benefits

 
 
 
 
 
 
 
Expected Benefit Payments
 
 
 
 
 
 
2018 
 
$
87

 
$
46

 
$
3

2019 
 
84

 
37

 
3

2020 
 
83

 
39

 
3

2021 
 
85

 
41

 
3

2022 
 
82

 
43

 
3

2023-2027
 
394

 
250

 
16

Schedule of Allocation of Plan Assets [Table Text Block]
The fair values of the company’s plan assets at December 31, 2017 and 2016, by asset category are as follows:
 
 
December 31,

 
Quoted Prices
in Active
Markets

 
Significant
Other
Observable
Inputs

 
Significant
Unobservable
Inputs

 
Not Subject to Leveling (1)

(In millions)
 
2017

 
(Level 1)

 
(Level 2)

 
(Level 3)

 
 
 
 
 
 
 
 
 
 
 
 
Domestic Pension Plan Assets
 
 
 
 
 
 
 
 
 
 
U.S. equity funds
 
$
163

 
$

 
$

 
$

 
$
163

International equity funds
 
180

 

 

 

 
180

Fixed income funds
 
761

 

 

 

 
761

Private equity funds
 
2

 

 

 

 
2

Money market funds
 
75

 

 

 

 
75

 
 
 
 
 
 
 
 
 
 
 
Total Domestic Pension Plans
 
$
1,181

 
$

 
$

 
$

 
$
1,181

 
 
 
 
 
 
 
 
 
 
 
Non-U.S. Pension Plan Assets
 
 
 
 
 
 
 
 
 
 
Equity funds
 
$
75

 
$

 
$

 
$

 
$
75

Fixed income funds
 
312

 

 

 

 
312

Hedge funds
 
77

 

 

 

 
77

Multi-asset funds
 
79

 

 

 

 
79

Derivative funds
 
194

 

 

 

 
194

Alternative investments
 
17

 

 

 

 
17

Insurance contracts
 
202

 

 
202

 

 

Cash / money market funds
 
55

 
40

 

 

 
15

 
 
 
 
 
 
 
 
 
 
 
Total Non-U.S. Pension Plans
 
$
1,011

 
$
40

 
$
202

 
$

 
$
769

(1) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
 
 
December 31,

 
Quoted Prices
in Active
Markets

 
Significant
Other
Observable
Inputs

 
Significant
Unobservable
Inputs

 
Not Subject to Leveling (1)

(In millions)
 
2016

 
(Level 1)

 
(Level 2)

 
(Level 3)

 
 
 
 
 
 
 
 
 
 
 
 
Domestic Pension Plan Assets
 
 
 
 
 
 
 
 
 
 
U.S. equity funds
 
$
259

 
$

 
$

 
$

 
$
259

International equity funds
 
229

 

 

 

 
229

Fixed income funds
 
437

 

 

 

 
437

Private equity funds
 
2

 

 

 

 
2

Money market funds
 
17

 

 

 

 
17

 
 
 
 
 
 
 
 
 
 
 
Total Domestic Pension Plans
 
$
944

 
$

 
$

 
$

 
$
944

 
 
 
 
 
 
 
 
 
 
 
Non-U.S. Pension Plan Assets
 
 
 
 
 
 
 
 
 
 
Equity funds
 
$
123

 
$
56

 
$

 
$

 
$
67

Fixed income funds
 
294

 
20

 

 

 
274

Hedge funds
 
80

 

 

 

 
80

Multi-asset funds
 
12

 

 

 

 
12

Derivative funds
 
158

 

 

 

 
158

Insurance contracts
 
177

 

 
177

 

 

Cash / money market funds
 
9

 
5

 

 

 
4

 
 
 
 
 
 
 
 
 
 
 
Total Non-U.S. Pension Plans
 
$
853

 
$
81

 
$
177

 
$

 
$
595

(1) Investments measured at the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.