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Pension and Postretirement Benefit Plans (Tables) | 9 Months Ended
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Sep. 30, 2024
Retirement Benefits [Abstract] |
Schedule of Net Periodic Benefit Cost (Benefit) | The other components of net periodic benefit cost are reflected in other expense (income), net. Effective April 1, 2024, approximately $2.7 billion of benefit obligations and $2.4 billion of plan assets for certain pension and postretirement benefit plans, were transferred to Solventum, which is treated as a discontinued operation. Components of net periodic benefit cost and other supplemental information for the three and nine months ended September 30, 2024 and 2023 follow:
|  | Three months ended September 30,
|  | Qualified and Non-qualified Pension Benefits |  | Postretirement Benefits
|  | United States | International |
(Millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Net periodic benefit cost (benefit) |  |  |  |  |  |  |  |  |  |  |  |
Operating expense |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 28 |  |  | $ | 42 |  |  | $ | 15 |  |  | $ | 21 |  |  | $ | 5 |  |  | $ | 6 |
Non-operating expense |  |  |  |  |  |  |  |  |  |  |  |
Interest cost |  | 110 |  |  | 166 |  |  | 50 |  |  | 56 |  |  | 20 |  |  | 21 |
Expected return on plan assets |  | (140) |  |  | (243) |  |  | (81) |  |  | (76) |  |  | (15) |  |  | (20) |
Amortization of transition asset |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |
Amortization of prior service benefit |  | (3) |  |  | (6) |  |  | — |  |  | — |  |  | (6) |  |  | (7) |
Amortization of net actuarial loss |  | 64 |  |  | 73 |  |  | 3 |  |  | 2 |  |  | 5 |  |  | 2 |
Settlements, curtailments, special termination benefits and other |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total non-operating expense (benefit) |  | 31 |  |  | (10) |  |  | (28) |  |  | (17) |  |  | 4 |  |  | (4) |
Total net periodic benefit cost (benefit) |  | 59 |  |  | 32 |  |  | (13) |  |  | 4 |  |  | 9 |  |  | 2 |
Service cost - continuing operations |  | $ | 28 |  |  | $ | 34 |  |  | $ | 15 |  |  | $ | 17 |  |  | $ | 5 |  |  | $ | 5 |
Service cost - discontinued operations |  | — |  |  | 8 |  |  | — |  |  | 4 |  |  | — |  |  | 1 |
Total service cost |  | 28 |  |  | 42 |  |  | 15 |  |  | 21 |  |  | 5 |  |  | 6 |
Non-operating expense (benefit) - continuing operations |  | 31 |  |  | (6) |  |  | (28) |  |  | (17) |  |  | 4 |  |  | (3) |
Non-operating expense (benefit) - discontinued operations |  | — |  |  | (4) |  |  | — |  |  | — |  |  | — |  |  | (1) |
Total non-operating expense (benefit) |  | 31 |  |  | (10) |  |  | (28) |  |  | (17) |  |  | 4 |  |  | (4) |
Total net periodic benefit cost (benefit) - continuing operations |  | 59 |  |  | 28 |  |  | (13) |  |  | — |  |  | 9 |  |  | 2 |
Total net periodic benefit cost (benefit) - discontinued operations |  | — |  |  | 4 |  |  | — |  |  | 4 |  |  | — |  |  | — |
Total net periodic benefit cost (benefit) |  | $ | 59 |  |  | $ | 32 |  |  | $ | (13) |  |  | $ | 4 |  |  | $ | 9 |  |  | $ | 2 |
|  | Nine months ended September 30,
|  | Qualified and Non-qualified Pension Benefits |  | Postretirement Benefits
|  | United States | International |
(Millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Net periodic benefit cost (benefit) |  |  |  |  |  |  |  |  |  |  |  |
Operating expense |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 94 |  |  | $ | 128 |  |  | $ | 50 |  |  | $ | 60 |  |  | $ | 17 |  |  | $ | 18 |
Non-operating expense |  |  |  |  |  |  |  |  |  |  |  |
Interest cost |  | 411 |  |  | 497 |  |  | 153 |  |  | 165 |  |  | 63 |  |  | 66 |
Expected return on plan assets |  | (573) |  |  | (731) |  |  | (248) |  |  | (226) |  |  | (49) |  |  | (58) |
Amortization of transition asset |  | — |  |  | — |  |  | 2 |  |  | 2 |  |  | — |  |  | — |
Amortization of prior service benefit |  | (11) |  |  | (18) |  |  | 1 |  |  | 1 |  |  | (18) |  |  | (23) |
Amortization of net actuarial loss |  | 242 |  |  | 220 |  |  | 9 |  |  | 6 |  |  | 15 |  |  | 6 |
Settlements, curtailments, special termination benefits and other |  | 795 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total non-operating expense (benefit) |  | 864 |  |  | (32) |  |  | (83) |  |  | (52) |  |  | 11 |  |  | (9) |
Total net periodic benefit cost (benefit) |  | 958 |  |  | 96 |  |  | (33) |  |  | 8 |  |  | 28 |  |  | 9 |
Service cost - continuing operations |  | $ | 87 |  |  | $ | 104 |  |  | $ | 45 |  |  | $ | 48 |  |  | $ | 16 |  |  | $ | 15 |
Service cost - discontinued operations |  | 7 |  |  | 24 |  |  | 5 |  |  | 12 |  |  | 1 |  |  | 3 |
Total service cost |  | 94 |  |  | 128 |  |  | 50 |  |  | 60 |  |  | 17 |  |  | 18 |
Non-operating expense (benefit) - continuing operations |  | 864 |  |  | (20) |  |  | (83) |  |  | (50) |  |  | 11 |  |  | (7) |
Non-operating expense (benefit) - discontinued operations |  | — |  |  | (12) |  |  | — |  |  | (2) |  |  | — |  |  | (2) |
Total non-operating expense (benefit) |  | 864 |  |  | (32) |  |  | (83) |  |  | (52) |  |  | 11 |  |  | (9) |
Total net periodic benefit cost (benefit) - continuing operations |  | 951 |  |  | 84 |  |  | (38) |  |  | (2) |  |  | 27 |  |  | 8 |
Total net periodic benefit cost (benefit) - discontinued operations |  | 7 |  |  | 12 |  |  | 5 |  |  | 10 |  |  | 1 |  |  | 1 |
Total net periodic benefit cost (benefit) |  | $ | 958 |  |  | $ | 96 |  |  | $ | (33) |  |  | $ | 8 |  |  | $ | 28 |  |  | $ | 9 |

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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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