XML 47 R36.htm IDEA: XBRL DOCUMENT
v3.20.2

Retirement Benefits (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Retirement Benefits [Abstract] |
Schedule of Net Benefit Costs | The components of the net periodic benefit cost for defined benefit and other post-retirement plans are as follows:
Combined U.S. and significant non-U.S. Plans | Pension Benefits |  | Post-retirement Benefits
For the Three Months Ended September 30, |
(In millions) | 2020 |  | 2019 |  | 2020 |  | 2019
Service cost | $ | 10 |  |  | $ | 10 |  |  | $ | — |  |  | $ | — |
Interest cost | 112 |  |  | 120 |  |  | 1 |  |  | 1 |
Expected return on plan assets | (212) |  |  | (214) |  |  | — |  |  | — |
Recognized actuarial loss (credit) | 40 |  |  | 25 |  |  | (1) |  |  | (1) |
Net periodic benefit credit | $ | (50) |  |  | $ | (59) |  |  | $ | — |  |  | $ | — |
Combined U.S. and significant non-U.S. Plans | Pension Benefits |  | Post-retirement Benefits
For the Nine Months Ended September 30, |
(In millions) | 2020 |  | 2019 |  | 2020 |  | 2019
Service cost | $ | 27 |  |  | $ | 28 |  |  | $ | — |  |  | $ | — |
Interest cost | 322 |  |  | 360 |  |  | 2 |  |  | 2 |
Expected return on plan assets | (629) |  |  | (644) |  |  | — |  |  | — |
Amortization of prior service credit | — |  |  | — |  |  | (1) |  |  | (1) |
Recognized actuarial loss (credit) | 120 |  |  | 77 |  |  | (1) |  |  | (1) |
Net periodic benefit credit | $ | (160) |  |  | $ | (179) |  |  | $ | — |  |  | $ | — |
Settlement loss | — |  |  | 4 |  |  | — |  |  | — |
Total credit | $ | (160) |  |  | $ | (175) |  |  | $ | — |  |  | $ | — |
Amounts Recorded in the Consolidated Statement of Income |  |  |  |  |  |
Combined U.S. and significant non-U.S. Plans | Pension Benefits |  | Post-retirement Benefits
For the Three Months Ended September 30, |
(In millions) | 2020 |  | 2019 |  | 2020 |  | 2019
Compensation and benefits expense (Operating income) | $ | 10 |  |  | $ | 10 |  |  | $ | — |  |  | $ | — |
Other net benefit credits | (60) |  |  | (69) |  |  | — |  |  | — |
Total credit | $ | (50) |  |  | $ | (59) |  |  | $ | — |  |  | $ | — |
Amounts Recorded in the Consolidated Statement of Income |  |  |  |  |  |
Combined U.S. and significant non-U.S. Plans | Pension Benefits |  | Post-retirement Benefits
For the Nine Months Ended September 30, |
(In millions) | 2020 |  | 2019 |  | 2020 |  | 2019
Compensation and benefits expense (Operating income) | $ | 27 |  |  | $ | 28 |  |  | $ | — |  |  | $ | — |
Other net benefit credits | (187) |  |  | (203) |  |  | — |  |  | — |
Total credit | $ | (160) |  |  | $ | (175) |  |  | $ | — |  |  | $ | — |
U.S. Plans only | Pension Benefits |  | Post-retirement Benefits
For the Three Months Ended September 30, |
(In millions) | 2020 |  | 2019 |  | 2020 |  | 2019
Interest cost | $ | 53 |  |  | $ | 61 |  |  | $ | 1 |  |  | $ | 1 |
Expected return on plan assets | (86) |  |  | (86) |  |  | — |  |  | — |
Recognized actuarial loss (credit) | 18 |  |  | 11 |  |  | (1) |  |  | (1) |
Net periodic benefit credit | $ | (15) |  |  | $ | (14) |  |  | $ | — |  |  | $ | — |
U.S. Plans only | Pension Benefits |  | Post-retirement Benefits
For the Nine Months Ended September 30, |
(In millions) | 2020 |  | 2019 |  | 2020 |  | 2019
Interest cost | $ | 160 |  |  | $ | 181 |  |  | $ | 1 |  |  | $ | 1 |
Expected return on plan assets | (259) |  |  | (257) |  |  | — |  |  | — |
Recognized actuarial loss (credit) | 54 |  |  | 33 |  |  | (1) |  |  | (1) |
Net periodic benefit credit | $ | (45) |  |  | $ | (43) |  |  | $ | — |  |  | $ | — |
Significant non-U.S. Plans only | Pension Benefits |  | Post-retirement Benefits
For the Three Months Ended September 30, |
(In millions) | 2020 |  | 2019 |  | 2020 |  | 2019
Service cost | $ | 10 |  |  | $ | 10 |  |  | $ | — |  |  | $ | — |
Interest cost | 59 |  |  | 59 |  |  | — |  |  | — |
Expected return on plan assets | (126) |  |  | (128) |  |  | — |  |  | — |
Recognized actuarial loss | 22 |  |  | 14 |  |  | — |  |  | — |
Net periodic benefit credit | $ | (35) |  |  | $ | (45) |  |  | $ | — |  |  | $ | — |
Significant non-U.S. Plans only | Pension Benefits |  | Post-retirement Benefits
For the Nine Months Ended September 30, |
(In millions) | 2020 |  | 2019 |  | 2020 |  | 2019
Service cost | $ | 27 |  |  | $ | 28 |  |  | $ | — |  |  | $ | — |
Interest cost | 162 |  |  | 179 |  |  | 1 |  |  | 1 |
Expected return on plan assets | (370) |  |  | (387) |  |  | — |  |  | — |
Amortization of prior service credit | — |  |  | — |  |  | (1) |  |  | (1) |
Recognized actuarial loss | 66 |  |  | 44 |  |  | — |  |  | — |
Net periodic benefit credit | $ | (115) |  |  | $ | (136) |  |  | $ | — |  |  | $ | — |
Settlement loss | — |  |  | 4 |  |  | — |  |  | — |
Total credit | $ | (115) |  |  | $ | (132) |  |  | $ | — |  |  | $ | — |
Schedule of Assumptions Used | The weighted average actuarial assumptions utilized to calculate the net periodic benefit costs for the U.S. and significant non-U.S. defined benefit plans are as follows:
Combined U.S. and significant non-U.S. Plans | Pension Benefits |  | Post-retirement Benefits
September 30, | 2020 |  | 2019 |  | 2020 |  | 2019
Weighted average assumptions: |  |  |  |  |  |  |
Expected return on plan assets | 5.31 | % |  | 5.74 | % |  | — |  |  | — |
Discount rate | 2.57 | % |  | 3.48 | % |  | 2.72 | % |  | 3.65 | %
Rate of compensation increase | 1.76 | % |  | 1.74 | % |  | — |  |  | — |

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular 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 Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration