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Pension and Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Components of Net Periodic Benefit Cost

The net periodic benefit cost (credit) for pension and other postretirement benefit plans (including certain costs reported as part of discontinued operations) consisted of the following components:

			Pension Benefits
			U.S.																		International																		Other Postretirement Benefits
Years Ended December 31			2021						2020						2019						2021						2020						2019						2021						2020						2019
Service cost			$	403					$	360					$	293					$	328					$	297					$	235					$	48					$	52					$	48
Interest cost			404						431						458						123						136						176						45						57						69
Expected return on plan assets			(755)						(774)						(817)						(416)						(414)						(425)						(79)						(75)						(72)
Amortization of unrecognized prior service cost			(38)						(49)						(49)						(16)						(18)						(12)						(63)						(73)						(78)
Net loss (gain) amortization			298						303						151						142						127						64						(42)						(18)						(10)
Termination benefits			56						10						31						5						3						8						37						2						5
Curtailments			16						10						14						(26)						—						6						(29)						(4)						(11)
Settlements			216						13						—						8						15						1						—						—						—
Net periodic benefit cost (credit)			$	600					$	304					$	81					$	148					$	146					$	53					$	(83)					$	(59)					$	(49)

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
			2021						2020						2021						2020						2021						2020
Fair value of plan assets January 1			$	12,672					$	11,361					$	12,009					$	10,135					$	1,221					$	1,102
Actual return on plan assets			1,250						1,908						891						1,026						118						175
Company contributions			305						199						189						383						33						19
Effects of exchange rate changes			—						—						(671)						743						—						—
Benefits paid			(219)						(751)						(233)						(214)						(86)						(93)
Settlements			(941)						(45)						(55)						(117)						—						—
Spin-off of Organon			—						—						(55)						—						—						—
Other			—						—						120						53						6						18
Fair value of plan assets December 31			$	13,067					$	12,672					$	12,195					$	12,009					$	1,292					$	1,221
Benefit obligation January 1			$	14,613					$	13,003					$	12,458					$	10,558					$	1,607					$	1,673
Service cost			403						360						328						297						48						52
Interest cost			404						431						123						136						45						57
Actuarial (gains) losses (1)			(332)						1,594						(240)						1,032						(103)						(98)
Benefits paid			(219)						(751)						(233)						(214)						(86)						(93)
Effects of exchange rate changes			—						—						(678)						788						(1)						(3)
Plan amendments			—						—						4						(64)						—						—
Curtailments			15						11						(38)						(8)						(12)						(1)
Termination benefits			56						10						5						3						37						2
Settlements			(941)						(45)						(55)						(117)						—						—
Spin-off of Organon			—						—						(118)						—						—						—
Other			—						—						19						47						6						18
Benefit obligation December 31			$	13,999					$	14,613					$	11,575					$	12,458					$	1,541					$	1,607
Funded status December 31			$	(932)					$	(1,941)					$	620					$	(449)					$	(249)					$	(386)
Recognized as:
Other Assets			$	9					$	—					$	1,395					$	941					$	—					$	—
Accrued and other current liabilities			(64)						(82)						(22)						(13)						(8)						(9)
Other Noncurrent Liabilities			(877)						(1,859)						(753)						(1,377)						(241)						(377)

(1) Actuarial (gains) losses primarily reflect changes in discount rates.

Schedule of Accumulated and Projected Benefit Obligations in Excess of Fair Value of Plan Assets

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

			U.S.												International
			2021						2020						2021						2020
Pension plans with a projected benefit obligation in excess of plan assets
Projected benefit obligation			$	13,013					$	14,613					$	2,507					$	8,875
Fair value of plan assets			12,072						12,672						1,731						7,488
Pension plans with an accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation			$	12,916					$	13,489					$	2,462					$	4,234
Fair value of plan assets			12,072						11,685						1,723						2,995

Schedule of Allocation of Plan Assets

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
			Level 1						Level 2						Level 3						NAV (1)						Total						Level 1						Level 2						Level 3						NAV (1)						Total
			2021																														2020
U.S. Pension Plans
Cash and cash equivalents			$	3					$	—					$	—					$	289					$	292					$	5					$	—					$	—					$	303					$	308
Investment funds
Developed markets equities			236						—						—						3,799						4,035						206						—						—						3,884						4,090
Emerging markets equities			—						—						—						919						919						169						—						—						927						1,096
Mortgage and asset-backed securities			—						—						—						—						—						—						89						—						—						89
Equity securities
Developed markets			2,915						—						—						—						2,915						2,819						—						—						—						2,819
Fixed income securities
Government and agency obligations			—						2,870						—						—						2,870						—						2,236						—						—						2,236
Corporate obligations			—						2,005						—						—						2,005						—						1,994						—						—						1,994
Mortgage and asset-backed securities			—						23						—						—						23						—						33						—						—						33
Other investments			2						—						6						—						8						—						—						7						—						7
Plan assets at fair value			$	3,156					$	4,898					$	6					$	5,007					$	13,067					$	3,199					$	4,352					$	7					$	5,114					$	12,672
International Pension Plans
Cash and cash equivalents			$	82					$	10					$	—					$	18					$	110					$	110					$	1					$	—					$	20					$	131
Investment funds
Developed markets equities			531						4,292						—						121						4,944						475						4,286						—						118						4,879
Government and agency obligations			240						4,025						—						171						4,436						1,516						2,614						—						172						4,302
Emerging markets equities			137						—						—						72						209						154						—						—						92						246
Corporate obligations			9						8						—						171						188						5						12						—						172						189
Other fixed income obligations			15						8						—						3						26						9						11						—						4						24
Real estate			—						1						—						16						17						—						1						—						15						16
Equity securities
Developed markets			369						—						—						—						369						505						—						—						—						505
Fixed income securities
Government and agency obligations			3						591						—						3						597						3						481						—						3						487
Corporate obligations			—						223						—						2						225						1						174						—						2						177
Mortgage and asset-backed securities			—						90						—						—						90						—						70						—						—						70
Other investments
Insurance contracts (2)			—						44						937						1						982						—						42						935						1						978
Other			1						1						—						—						2						1						4						—						—						5
Plan assets at fair value			$	1,387					$	9,293					$	937					$	578					$	12,195					$	2,779					$	7,696					$	935					$	599					$	12,009

(1)    Certain investments that were measured at net asset value (NAV) per share or its equivalent have not been classified in the fair value hierarchy. The NAV 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, 2021 and 2020.

(2)    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.

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

			Fair Value Measurements Using																														Fair Value Measurements Using
			Level 1						Level 2						Level 3						NAV (1)						Total						Level 1						Level 2						Level 3						NAV (1)						Total
			2021																														2020
Cash and cash equivalents			$	11					$	—					$	—					$	28					$	39					$	31					$	—					$	—					$	28					$	59
Investment funds
Developed markets equities			24						—						—						378						402						19						—						—						355						374
Emerging markets equities			—						—						—						92						92						16						—						—						85						101
Government and agency obligations			1						—						—												1						1						—						—						—						1
Mortgage and asset-backed securities			—						—						—						—						—						—						8						—						—						8
Equity securities																																																									—
Developed markets			290						—						—						—						290						258						—						—						—						258
Fixed income securities
Government and agency obligations			—						275						—						—						275						—						221						—						—						221
Corporate obligations			—						191						—						—						191						—						196						—						—						196
Mortgage and asset-backed securities			—						2						—						—						2						—						3						—						—						3
Plan assets at fair value			$	326					$	468					$	—					$	498					$	1,292					$	325					$	428					$	—					$	468					$	1,221

(1)    Certain investments that were measured at net asset value (NAV) per share or its equivalent have not been classified in the fair value hierarchy. The NAV 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, 2021 and 2020.

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:

			2021																								2020
			Insurance Contracts						Real Estate						Other						Total						Insurance Contracts						Real Estate						Other						Total
U.S. Pension Plans
Balance January 1			$	—					$	—					$	7					$	7					$	—					$	—					$	9					$	9
Actual return on plan assets:
Relating to assets still held at December 31			—						—						(5)						(5)						—						—						(5)						(5)
Relating to assets sold during the year			—						—						7						7						—						—						5						5
Purchases and sales, net			—						—						(3)						(3)						—						—						(2)						(2)
Balance December 31			$	—					$	—					$	6					$	6					$	—					$	—					$	7					$	7
International Pension Plans
Balance January 1			$	935					$	—					$	—					$	935					$	851					$	—					$	—					$	851
Actual return on plan assets:
Relating to assets still held at December 31			(34)						—						—						(34)						103						—												103
Purchases and sales, net			(42)						—						—						(42)						(17)						—						—						(17)
Transfers in (out) of Level 3			78						—						—						78						(2)						—						—						(2)
Balance December 31			$	937					$	—					$	—					$	937					$	935					$	—					$	—					$	935

Summary of Expected Benefit Payments

Expected benefit payments are as follows:

			U.S. Pension Benefits						International Pension Benefits						Other Postretirement Benefits
2022			$	724					$	289					$	84
2023			745						275						85
2024			731						278						87
2025			748						280						89
2026			770						308						90
2027 — 2031			4,230						1,715						469

Components of Other Comprehensive Income

The following amounts were reflected as components of OCI:

			Pension Plans																																				Other Postretirement Benefit Plans
			U.S.																		International
Years Ended December 31			2021						2020						2019						2021						2020						2019						2021						2020						2019
Net gain (loss) arising during the period			$	1,048					$	(448)					$	(816)					$	815					$	(407)					$	(227)					$	144					$	198					$	112
Prior service (cost) credit arising during the period			(3)						(1)						(4)						(29)						62						(1)						(17)						(3)						(11)
			$	1,045					$	(449)					$	(820)					$	786					$	(345)					$	(228)					$	127					$	195					$	101
Net loss (gain) amortization included in benefit cost			$	298					$	303					$	151					$	142					$	127					$	64					$	(42)					$	(18)					$	(10)
Prior service credit amortization included in benefit cost			(38)						(49)						(49)						(16)						(18)						(12)						(63)						(73)						(78)
			$	260					$	254					$	102					$	126					$	109					$	52					$	(105)					$	(91)					$	(88)

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			2021						2020						2019						2021						2020						2019
Net periodic benefit cost
Discount rate			2.70		%				3.40		%				4.40		%				1.10		%				1.50		%				2.20		%
Expected rate of return on plan assets			6.70		%				7.30		%				8.10		%				3.80		%				4.40		%				4.90		%
Salary growth rate			4.60		%				4.20		%				4.30		%				2.80		%				2.80		%				2.80		%
Interest crediting rate			4.70		%				4.90		%				3.40		%				3.00		%				2.80		%				2.90		%
Benefit obligation
Discount rate			3.00		%				2.70		%				3.40		%				1.50		%				1.10		%				1.50		%
Salary growth rate			4.60		%				4.60		%				4.20		%				2.90		%				2.80		%				2.80		%
Interest crediting rate			5.00		%				4.70		%				4.90		%				3.00		%				3.00		%				2.80		%

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			2021						2020
Health care cost trend rate assumed for next year			6.4		%				6.6		%
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

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