Pension and Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2017

The net periodic benefit cost (credit) for pension and other postretirement benefit plans consisted of the following components:



	Pension Benefits
	U.S.									International									Other Postretirement Benefits
Years Ended December 31	2017			2016			2015			2017			2016			2015			2017			2016			2015
Service cost	$	312		$	282		$	307		$	252		$	238		$	251		$	57		$	54		$	80
Interest cost	454			456			434			172			204			206			81			82			110
Expected return on plan assets	(862		)	(831		)	(819		)	(393		)	(382		)	(379		)	(78		)	(107		)	(143		)
Amortization of unrecognized prior service cost	(53		)	(55		)	(56		)	(11		)	(11		)	(14		)	(98		)	(106		)	(64		)
Net loss amortization	180			119			214			98			87			118			1			3			5
Termination benefits	44			23			22			4			4			1			8			4			7
Curtailments	3			5			(12		)	(4		)	(1		)	(9		)	(31		)	(18		)	(19		)
Settlements	—			—			1			5			6			12			—			—			—
Net periodic benefit cost (credit)	$	78		$	(1	)	$	91		$	123		$	145		$	186		$	(60	)	$	(88	)	$	(24	)

Obligation and Funded Status

Summarized information about the changes in plan assets and benefit obligations, the funded status and the amounts recorded at December 31 is as follows:



	Pension Benefits												Other Postretirement Benefits
	U.S.						International						Other Postretirement Benefits
	2017			2016			2017			2016			2017			2016
Fair value of plan assets January 1	$	9,766		$	9,266		$	7,794		$	7,204		$	1,019		$	1,913
Actual return on plan assets	1,723			941			677			898			161			138
Company contributions, net	58			63			226			424			(4		)	68
Effects of exchange rate changes	—			—			843			(546		)	—			—
Benefits paid	(651		)	(504		)	(198		)	(193		)	(62		)	(108		)
Settlements	—			—			(17		)	(21		)	—			—
Assets no longer restricted to the payment of postretirement benefits ⁽¹⁾	—			—			—			—			—			(992		)
Other	—			—			14			28			—			—
Fair value of plan assets December 31	$	10,896		$	9,766		$	9,339		$	7,794		$	1,114		$	1,019
Benefit obligation January 1	$	10,849		$	9,723		$	8,372		$	7,733		$	1,922		$	1,810
Service cost	312			282			252			238			57			54
Interest cost	454			456			172			204			81			82
Actuarial losses (gains) ⁽²⁾	881			854			(7		)	938			(87		)	77
Benefits paid	(651		)	(504		)	(198		)	(193		)	(62		)	(108		)
Effects of exchange rate changes	—			—			916			(576		)	3			2
Plan amendments	—			—			(22		)	—			—			—
Curtailments	15			15			(3		)	(15		)	—			1
Termination benefits	44			23			4			4			8			4
Settlements	—			—			(17		)	(21		)	—			—
Other	—			—			14			60			—			—
Benefit obligation December 31	$	11,904		$	10,849		$	9,483		$	8,372		$	1,922		$	1,922
Funded status December 31	$	(1,008	)	$	(1,083	)	$	(144	)	$	(578	)	$	(808	)	$	(903	)
Recognized as:
Other assets	$	—		$	—		$	828		$	451		$	—		$	—
Accrued and other current liabilities	(59		)	(50		)	(17		)	(7		)	(11		)	(11		)
Other noncurrent liabilities	(949		)	(1,033		)	(955		)	(1,022		)	(797		)	(892		)

⁽¹⁾ As a result of certain allowable administrative actions that occurred in June 2016, $992 million of plan assets previously restricted for the payment of other postretirement benefits became available to fund certain other health and welfare benefits.

⁽²⁾ Actuarial losses in 2017 and 2016 primarily reflect changes in discount rates.

Schedule of Accumulated and Projected Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]

Information related to the funded status of selected pension plans at December 31 is as follows:



	U.S.				International
	2017		2016		2017		2016
Pension plans with a projected benefit obligation in excess of plan assets
Projected benefit obligation	$	11,904	$	10,849	$	3,323	$	5,486
Fair value of plan assets	10,896		9,766		2,352		4,457
Pension plans with an accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation	$	676	$	9,807	$	2,120	$	2,692
Fair value of plan assets	—		9,057		1,346		1,898

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

Summary of Changes in Fair Value of Company's Level 3 Pension Plan Assets

The table below provides a summary of the changes in fair value, including transfers in and/or out, of all financial assets measured at fair value using significant unobservable inputs (Level 3) for the Company’s pension plan assets:



	2017											2016
	Insurance Contracts		Real Estate			Other			Total			Insurance Contracts			Real Estate			Other			Total
U.S. Pension Plans
Balance January 1	$	—	$	—		$	18		$	18		$	—		$	—		$	23		$	23
Actual return on plan assets:
Relating to assets still held at December 31	—		—			(2		)	(2		)	—			—			(3		)	(3		)
Relating to assets sold during the year	—		—			4			4			—			—			4			4
Purchases and sales, net	—		—			(5		)	(5		)	—			—			(6		)	(6		)
Balance December 31	$	—	$	—		$	15		$	15		$	—		$	—		$	18		$	18
International Pension Plans
Balance January 1	$	412	$	4		$	1		$	417		$	393		$	5		$	2		$	400
Actual return on plan assets:
Relating to assets still held at December 31	52		—			—			52			(9		)	1			—			(8		)
Purchases and sales, net	5		(2		)	—			3			2			(2		)	(1		)	(1		)
Transfers into Level 3	1		—			—			1			26			—			—			26
Balance December 31	$	470	$	2		$	1		$	473		$	412		$	4		$	1		$	417

Summary of Expected Benefit Payments

Expected benefit payments are as follows:



	U.S. Pension Benefits		International Pension Benefits		Other Postretirement Benefits
2018	$	609	$	222	$	96
2019	638		205		101
2020	650		217		104
2021	663		225		109
2022	683		243		113
2023 — 2027	3,760		1,326		623

Components of Other Comprehensive Income

The following amounts were reflected as components of OCI:



	Pension Plans																		Other Postretirement Benefit Plans
	U.S.									International									Other Postretirement Benefit Plans
Years Ended December 31	2017			2016			2015			2017			2016			2015			2017			2016			2015
Net (loss) gain arising during the period	$	(19	)	$	(743	)	$	73		$	309		$	(380	)	$	(66	)	$	170		$	(45	)	$	209
Prior service (cost) credit arising during the period	(13		)	(10		)	(13		)	22			(2		)	(4		)	(31		)	(19		)	511
	$	(32	)	$	(753	)	$	60		$	331		$	(382	)	$	(70	)	$	139		$	(64	)	$	720
Net loss amortization included in benefit cost	$	180		$	119		$	214		$	98		$	87		$	118		$	1		$	3		$	5
Prior service (credit) cost amortization included in benefit cost	(53		)	(55		)	(56		)	(11		)	(11		)	(14		)	(98		)	(106		)	(64		)
	$	127		$	64		$	158		$	87		$	76		$	104		$	(97	)	$	(103	)	$	(59	)

Summary of Weighted Average Assumptions Used in Determining Pension Plan and U.S. Pension and Other Postretirement Benefit Plan Information

The Company reassesses its benefit plan assumptions on a regular basis. The weighted average assumptions used in determining U.S. pension and other postretirement benefit plan and international pension plan information are as follows:



	U.S. Pension and Other Postretirement Benefit Plans						International Pension Plans
December 31	2017		2016		2015		2017		2016		2015
Net periodic benefit cost
Discount rate	4.30	%	4.70	%	4.20	%	2.20	%	2.80	%	2.70	%
Expected rate of return on plan assets	8.70	%	8.60	%	8.50	%	5.10	%	5.60	%	5.70	%
Salary growth rate	4.30	%	4.30	%	4.40	%	2.90	%	2.90	%	2.90	%
Benefit obligation
Discount rate	3.70	%	4.30	%	4.80	%	2.10	%	2.20	%	2.80	%
Salary growth rate	4.30	%	4.30	%	4.30	%	2.90	%	2.90	%	2.90	%

Summary of Health Care Cost Trend Rate Assumptions for Other Postretirement Benefit Plans

The health care cost trend rate assumptions for other postretirement benefit plans are as follows:



December 31	2017		2016
Health care cost trend rate assumed for next year	7.2	%	7.4	%
Rate to which the cost trend rate is assumed to decline	4.5	%	4.5	%
Year that the trend rate reaches the ultimate trend rate	2032		2032

One Percentage Point Change in Health Care Cost Trend Rate

A one percentage point change in the health care cost trend rate would have had the following effects:



	One Percentage Point
	Increase		Decrease
Effect on total service and interest cost components	$	13	$	(11	)
Effect on benefit obligation	125		(104		)

Pension Plan

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

Schedule of Allocation of Plan Assets [Table Text Block]

The fair values of the Company’s pension plan assets at December 31 by asset category are as follows:



	Fair Value Measurements Using								Fair Value Measurements Using
	Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	2017								2016
U.S. Pension Plans
Assets
Cash and cash equivalents	$	6	$	—	$	—	$	6	$	2	$	2	$	—	$	4
Investment funds
Developed markets equities	390		—		—		390		521		—		—		521
Emerging markets equities	138		—		—		138		104		—		—		104
Equity securities
Developed markets	2,743		—		—		2,743		2,521		—		—		2,521
Fixed income securities
Government and agency obligations	—		757		—		757		—		475		—		475
Corporate obligations	—		900		—		900		—		660		—		660
Mortgage and asset-backed securities	—		240		—		240		—		239		—		239
Other investments	—		—		15		15		—		—		18		18
Net assets in fair value hierarchy	$	3,277	$	1,897	$	15	$	5,189	$	3,148	$	1,376	$	18	$	4,542
Investments measured at NAV ⁽¹⁾							5,707								5,224
Plan assets at fair value							$	10,896							$	9,766
International Pension Plans
Assets
Cash and cash equivalents	$	54	$	19	$	—	$	73	$	42	$	11	$	—	$	53
Investment funds
Developed markets equities	562		3,326		—		3,888		187		2,846		—		3,033
Emerging markets equities	62		176		—		238		24		148		—		172
Government and agency obligations	249		2,095		—		2,344		123		1,904		—		2,027
Corporate obligations	5		329		—		334		2		282		—		284
Fixed income obligations	7		4		—		11		6		3		—		9
Real estate ⁽²⁾	—		1		2		3		—		3		4		7
Equity securities
Developed markets	660		—		—		660		565		—		—		565
Fixed income securities
Government and agency obligations	2		266		—		268		2		235		—		237
Corporate obligations	1		118		—		119		—		92		—		92
Mortgage and asset-backed securities	—		55		—		55		—		50		—		50
Other investments
Insurance contracts ⁽³⁾	—		67		470		537		—		59		412		471
Other	—		6		1		7		1		4		1		6
Net assets in fair value hierarchy	$	1,602	$	6,462	$	473	$	8,537	$	952	$	5,637	$	417	$	7,006
Investments measured at NAV ⁽¹⁾							802								788
Plan assets at fair value							$	9,339							$	7,794


⁽¹⁾	Certain investments that were measured at net asset value (NAV) per share or its equivalent as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the fair value of plan assets at December 31, 2017 and 2016.


⁽²⁾	The plans’ Level 3 investments in real estate funds are generally valued by market appraisals of the underlying investments in the funds.


⁽³⁾	The plans’ Level 3 investments in insurance contracts are generally valued using a crediting rate that approximates market returns and invest in underlying securities whose market values are unobservable and determined using pricing models, discounted cash flow methodologies, or similar techniques.