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Retirement Plans | 12 Months Ended
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Dec. 31, 2015
Disclosure Text Block Abstract |
Retirement Plans | NOTE 12 Retirement Plans Defined Contribution Retirement Plans The Company sponsors defined contribution retirement plans, the principal plan being the Retirement Savings Plan (RSP), a 401(k) savings plan with a profit-sharing component. The RSP is a tax-qualified retirement plan subject to the Employee Retirement Income Securit y Act of 1974 and covers most employees in the United S tates. The total expense for all defined contribution retirement plans globally was $224 million, $272 million and $281 million in 2015, 2014 and 2013, respect ively. Defined Benefit Pension and other postretirement benefit Plans The Company’s primary defined benefit pension plans that c over certain employees in the United S tates and United Kingdom are closed to new entrants and existing participants do not accrue any additional benefits. Most employees outside the U nited States and United Kingdom are covered by local retirement plans, some of which are funded, while other employees receiv e payments at the time of retirement or termination under applicable labor laws or agreements. The Company complies with minimum funding requirements in all countries. The Company sponsors unfunded other postretirement benefit plans that provide health car e and life insurance to certain retired U.S. employees. The total expense for these plans was $23 million, $24 million and $59 million in 2015, 2014 and 2013, respectively. The Company recognizes the funded sta tus of its defined benefit pension plans and other postretirement benefit plans, measured as the difference between the fair value of the plan assets and the projected benefit obligation, in the Consolidated Balance Sheets. As of December 31, 2015 and 2014, the funded status related to the defined benefit pension plans and other postretirement benefit plans was underfunded by $770 million and $767 million, respectively, and is recorded in Other liabilities.

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