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Retirement Plans (Tables) | 12 Months Ended
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Dec. 31, 2020
Retirement Plans [Abstract] |
Schedule Of Changes In Projected Benefit Obligation And Plan Assets | Changes in our PBO and plan assets were as follows for the years ended December 31:
Funded Status | Pension | OPEB
Millions | 2020 | 2019 | 2020 | 2019
Projected Benefit Obligation |  |  |  |  |  |  |  |
Projected benefit obligation at beginning of year | $ | 4,847 | $ | 4,181 | $ | 205 | $ | 298
Service cost |  | 91 |  | 80 |  | 1 |  | 1
Interest cost |  | 137 |  | 160 |  | 5 |  | 9
Plan amendment |  | - |  | - |  | (2) |  | (92)
Actuarial (gain)/loss |  | 812 |  | 656 |  | - |  | 11
Gross benefits paid |  | (229) |  | (230) |  | (19) |  | (22)
Projected benefit obligation at end of year | $ | 5,658 | $ | 4,847 | $ | 190 | $ | 205
Plan Assets |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year | $ | 4,528 | $ | 3,887 | $ | - | $ | -
Actual (loss)/return on plan assets |  | 686 |  | 841 |  | - |  | -
Non-qualified plan benefit contributions |  | 31 |  | 30 |  | 19 |  | 22
Gross benefits paid |  | (229) |  | (230) |  | (19) |  | (22)
Fair value of plan assets at end of year | $ | 5,016 | $ | 4,528 | $ | - | $ | -
Funded status at end of year | $ | (642) | $ | (319) | $ | (190) | $ | (205)
Schedule Of Amounts Recognized In Statement Of Financial Position | Amounts recognized in the statement of financial position as of December 31, 2020 and 2019 consist of:
| Pension | OPEB
Millions | 2020 | 2019 | 2020 | 2019
Noncurrent assets | $ | 8 | $ | 203 | $ | - | $ | -
Current liabilities |  | (30) |  | (29) |  | (18) |  | (20)
Noncurrent liabilities |  | (620) |  | (493) |  | (172) |  | (185)
Net amounts recognized at end of year | $ | (642) | $ | (319) | $ | (190) | $ | (205)
Schedule Of Pre-Tax Amounts Recognized In Accumulated Other Comprehensive Income/(Loss) | Pre-tax amounts recognized in accumulated other comprehensive income/loss as of December 31, 2020 and 2019 consist of:
| 2020 | 2019
Millions | Pension | OPEB | Total | Pension | OPEB | Total
Prior service cost | $ | - | $ | 84 | $ | 84 | $ | - | $ | 95 | $ | 95
Net actuarial loss |  | (1,805) |  | (98) |  | (1,903) |  | (1,501) |  | (104) |  | (1,605)
Total | $ | (1,805) | $ | (14) | $ | (1,819) | $ | (1,501) | $ | (9) | $ | (1,510)
Schedule Of Other Pre-Tax Changes Recognized In Other Comprehensive Income | Pre-tax changes recognized in other comprehensive income/loss during 2020, 2019, and 2018 were as follows:
| Pension | OPEB
Millions | 2020 | 2019 | 2018 | 2020 | 2019 | 2018
Prior service credit | $ | - | $ | - | $ | - | $ | 2 | $ | 92 | $ | -
Net actuarial (loss)/gain |  | (408) |  | (88) |  | (40) |  | - |  | (11) |  | 20
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost/(credit) |  | - |  | - |  | - |  | (14) |  | (7) |  | 1
Actuarial loss |  | 104 |  | 67 |  | 93 |  | 7 |  | 7 |  | 10
Total | $ | (304) | $ | (21) | $ | 53 | $ | (5) | $ | 81 | $ | 31
Schedule Of Underfunded Accumulated Benefit Obligation | The following table discloses only the PBO, ABO, and fair value of plan assets for pension plans where the accumulated benefit obligation is in excess of the fair value of the plan assets as of December 31:
Underfunded Accumulated Benefit Obligation |  |
Millions | 2020 | 2019
Projected benefit obligation | $ | 605 | $ | 522
Accumulated benefit obligation | $ | 560 | $ | 498
Fair value of plan assets |  | - |  | -
Underfunded accumulated benefit obligation | $ | (560) | $ | (498)
Weighted Average Actuarial Assumptions Used To Determine Benefit Obligations | Assumptions – The weighted-average actuarial assumptions used to determine benefit obligations at December 31:
| Pension | OPEB
Percentages | 2020 | 2019 | 2020 | 2019
Discount rate | 2.42% | 3.26% | 2.22% | 3.13%
Compensation increase | 4.40% | 4.10% | N/A | N/A
Health care cost trend rate (employees under 65) | N/A | N/A | 5.42% | 5.64%
Ultimate health care cost trend rate | N/A | N/A | 4.50% | 4.50%
Year ultimate trend rate reached | N/A | N/A | 2038 | 2038
Weighted Average Actuarial Assumptions Used To Determine Expense | Assumptions – The weighted-average actuarial assumptions used to determine expense were as follows:
| Pension | OPEB
Percentages | 2020 | 2019 | 2018 | 2020 | 2019 | 2018
Discount rate for benefit obligations | 3.26% | 4.23% | 3.62% | 3.14% | 3.79% | 3.54%
Discount rate for interest on benefit obligations | 2.89% | 3.94% | 3.27% | 2.68% | 3.40% | 3.14%
Discount rate for service cost | 3.42% | 4.33% | 3.77% | 3.21% | 3.92% | 3.71%
Discount rate for interest on service cost | 3.36% | 4.30% | 3.72% | 3.14% | 3.85% | 3.64%
Expected return on plan assets | 7.00% | 7.00% | 7.00% | N/A | N/A | N/A
Compensation increase | 4.10% | 4.10% | 4.19% | N/A | N/A | N/A
Health care cost trend rate (employees under 65) | N/A | N/A | N/A | 5.64% | 5.87% | 6.09%
Ultimate health care cost trend rate | N/A | N/A | N/A | 4.50% | 4.50% | 4.50%
Year ultimate trend reached | N/A | N/A | N/A | 2038 | 2038 | 2038
Net Periodic Pension And OPEB Cost/(Benefit) | The components of our net periodic pension and OPEB cost were as follows for the years ended December 31:
| Pension | OPEB
Millions | 2020 | 2019 | 2018 | 2020 | 2019 | 2018
Net Periodic Benefit Cost: |  |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | 91 | $ | 80 | $ | 105 | $ | 1 | $ | 1 | $ | 2
Interest cost |  | 137 |  | 160 |  | 145 |  | 5 |  | 9 |  | 10
Expected return on plan assets |  | (282) |  | (273) |  | (272) |  |  |  |  |  |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost/(credit) |  | - |  | - |  | - |  | (14) |  | (7) |  | 1
Actuarial loss |  | 104 |  | 67 |  | 93 |  | 7 |  | 7 |  | 10
Net periodic benefit cost | $ | 50 | $ | 34 | $ | 71 | $ | (1) | $ | 10 | $ | 23
Cash Contributions For Qualified Pension Plan Benefit Payments For Non-Qualified OPEB Plans | The following table details cash contributions, if any, for the qualified pension plans and the benefit payments for the non-qualified (supplemental) pension and OPEB plans:
|  | Pension |  |
Millions | Qualified | Non-qualified | OPEB
2020 | $ | - | $ | 31 | $ | 19
2019 |  |  | - |  | 30 |  | 22
Schedule Of Expected Benefit Payments | The following table details expected benefit payments for the years 2021 through 2030:
Millions | Pension | OPEB
2021 | $ | 228 | $ | 18
2022 |  | 226 |  | 14
2023 |  | 226 |  | 14
2024 |  | 225 |  | 10
2025 |  | 226 |  | 9
Years 2026 - 2030 |  | 1,158 |  | 42
Schedule Of Pension Plan Asset Allocation | Our pension plan asset allocation at December 31, 2020 and 2019, and target allocation for 2021, are as follows:
|  |  | Percentage of Plan Assets
| Target |  | December 31,
| Allocation 2021 |  | 2020 | 2019
Equity securities | 50% to 60% |  | 63% | 63%
Debt securities | 40% to 50% |  | 34 | 31
Real estate | 0% to 2% |  | 3 | 6
Total |  | 100% | 100%
Schedule Of Assets Measured At Fair Value On A Recurring Basis | As of December 31, 2020, the pension plan assets measured at fair value on a recurring basis were as follows:
| Quoted Prices |  | Significant |  |  |  |  |  |
| in Active |  | Other |  | Significant |  |
| Markets for |  | Observable |  | Unobservable |  |
| Identical Inputs |  | Inputs |  | Inputs |  |  |
Millions | (Level 1) |  | (Level 2) |  | (Level 3) |  | Total
Plan assets at fair value: |  |  |  |  |  |  |  |  |  |  |
Temporary cash investments | $ | 9 |  | $ | - |  | $ | - |  | $ | 9
Registered investment companies [a] |  | 252 |  |  | - |  |  | - |  |  | 252
Federal government securities |  | - |  |  | 150 |  |  | - |  |  | 150
Bonds and debentures |  | - |  |  | 831 |  |  | - |  |  | 831
Corporate stock |  | 2,209 |  |  | 8 |  |  | - |  |  | 2,217
Total plan assets at fair value | $ | 2,470 |  | $ | 989 |  | $ | - |  | $ | 3,459
Plan assets at NAV: |  |  |  |  |  |  |  |  |  |  |
Registered investment companies [b] |  |  |  |  |  |  |  |  |  |  | 312
Venture capital and buyout partnerships |  |  |  |  |  |  |  |  |  |  | 585
Real estate funds |  |  |  |  |  |  |  |  |  |  | 161
Collective trust and other funds |  |  |  |  |  |  |  |  |  |  | 498
Total plan assets at NAV |  |  |  |  |  |  |  |  |  | $ | 1,556
Other assets/(liabilities) [c] |  |  |  |  |  |  |  |  |  |  | 1
Total plan assets |  |  |  |  |  |  |  |  |  | $ | 5,016
[a]Registered investment companies measured at fair value are stock investments. [b]Registered investment companies measured at NAV include bond investments. [c]Other assets include accrued receivables, net payables, and pending broker settlements. As of December 31, 2019, the pension plan assets measured at fair value on a recurring basis were as follows:
| Quoted Prices |  | Significant |  |  |  |  |  |
| in Active |  | Other |  | Significant |  |
| Markets for |  | Observable |  | Unobservable |  |
| Identical Inputs |  | Inputs |  | Inputs |  |  |
Millions | (Level 1) |  | (Level 2) |  | (Level 3) |  | Total
Plan assets at fair value: |  |  |  |  |  |  |  |  |  |  |
Temporary cash investments | $ | 6 |  | $ | 1 |  | $ | - |  | $ | 7
Registered investment companies [a] |  | 9 |  |  | - |  |  | - |  |  | 9
Federal government securities |  | - |  |  | 202 |  |  | - |  |  | 202
Bonds and debentures |  | - |  |  | 575 |  |  | - |  |  | 575
Corporate stock |  | 1,932 |  |  | 7 |  |  | - |  |  | 1,939
Total plan assets at fair value | $ | 1,947 |  | $ | 785 |  | $ | - |  | $ | 2,732
Plan assets at NAV: |  |  |  |  |  |  |  |  |  |  |
Registered investment companies [b] |  |  |  |  |  |  |  |  |  |  | 285
Venture capital and buyout partnerships |  |  |  |  |  |  |  |  |  |  | 531
Real estate funds |  |  |  |  |  |  |  |  |  |  | 261
Collective trust and other funds |  |  |  |  |  |  |  |  |  |  | 707
Total plan assets at NAV |  |  |  |  |  |  |  |  |  | $ | 1,784
Other assets/(liabilities) [c] |  |  |  |  |  |  |  |  |  |  | 12
Total plan assets |  |  |  |  |  |  |  |  |  | $ | 4,528
[a]Registered investment companies measured at fair value are stock investments. [b]Registered investment companies measured at NAV include bond investments. [c]Other assets include accrued receivables, net payables, and pending broker settlements.

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- Definition Tablular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References No definition available. + Details
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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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