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COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Net Periodic Benefit Cost for Pension and Postretirement Benefit Plans

Information about net periodic benefit cost for the company-sponsored pension and postretirement defined benefit plans is as follows (in millions):

			U.S. Pension Benefits																		U.S. Postretirement Medical Benefits																		International Pension Benefits
			2020						2019						2018						2020						2019						2018						2020						2019						2018
Net Periodic Benefit Cost:
Service cost			$	1,853					$	1,439					$	1,661					$	29					$	23					$	29					$	67					$	57					$	62
Interest cost			1,977						2,067						1,799						91						108						104						40						47						45
Expected return on plan assets			(3,549)						(3,130)						(3,201)						(8)						(8)						(8)						(86)						(76)						(77)
Amortization of prior service cost			218						218						193						7						7						7						2						2						1
Actuarial (gain) loss			6,211						2,296						1,603						246						37						—						27						54						24
Curtailment and settlement loss			—						—						—						—						—						—						—						—						—
Net periodic benefit cost			$	6,710					$	2,890					$	2,055					$	365					$	167					$	132					$	50					$	84					$	55

Weighted Average Actuarial Assumptions Used Disclosure

The table below provides the weighted-average actuarial assumptions used to determine the net periodic benefit cost:

			U.S. Pension Benefits																		U.S. Postretirement Medical Benefits																		International Pension Benefits
			2020						2019						2018						2020						2019						2018						2020						2019						2018
Service cost discount rate			3.60		%				4.50		%				3.84		%				3.59		%				4.51		%				3.82		%				3.01		%				3.58		%				3.35		%
Interest cost discount rate			3.60		%				4.50		%				3.84		%				3.59		%				4.51		%				3.82		%				2.67		%				3.25		%				3.01		%
Rate of compensation increase			4.22		%				4.25		%				4.25		%				N/A						N/A						N/A						3.00		%				3.24		%				3.22		%
Expected return on plan assets			7.77		%				7.75		%				7.75		%				7.20		%				7.20		%				7.20		%				5.55		%				5.69		%				5.76		%
Cash balance interest credit rate			2.50		%				2.98		%				2.50		%				N/A						N/A						N/A						2.59		%				3.17		%				3.07		%

The table below provides the weighted-average actuarial assumptions used to determine the benefit obligations of our plans:

			U.S. Pension Benefits												U.S. Postretirement Medical Benefits												International Pension Benefits
			2020						2019						2020						2019						2020						2019
Discount rate			2.90		%				3.60		%				2.88		%				3.59		%				1.94		%				2.21		%
Rate of compensation increase			4.21		%				4.22		%				N/A						N/A						2.93		%				3.00		%
Cash balance interest credit rate			2.50		%				2.50		%				N/A						N/A						2.74		%				2.59		%

Reconciliation of the Changes in the Plans' Benefit Obligations and Fair Value of Plan Assets

The following tables provide a reconciliation of the changes in the plans’ benefit obligations and fair value of plan assets as of the respective measurement dates in each year (in millions):

			U.S. Pension Benefits												U.S. Postretirement Medical Benefits												International Pension Benefits
			2020						2019						2020						2019						2020						2019
Benefit Obligations:
Projected benefit obligation at beginning of year			$	54,039					$	45,333					$	2,616					$	2,510					$	1,906					$	1,552
Service cost			1,853						1,439						29						23						67						57
Interest cost			1,977						2,067						91						108						40						47
Gross benefits paid			(1,846)						(2,394)						(274)						(288)						(38)						(40)
Plan participants’ contributions			—						—						32						30						3						3
Plan amendments			171						—						—						—						1						1
Actuarial (gain)/loss			9,728						7,594						265						233						123						213
Foreign currency exchange rate changes			—						—						—						—						80						47
Curtailments and settlements			—						—						—						—						(6)						(2)
Other			—						—						—						—						1						28
Projected benefit obligation at end of year			$	65,922					$	54,039					$	2,759					$	2,616					$	2,177					$	1,906
			U.S. Pension Benefits												U.S. Postretirement Medical Benefits												International Pension Benefits
			2020						2019						2020						2019						2020						2019
Fair Value of Plan Assets:
Fair value of plan assets at beginning of year			$	46,172					$	39,554					$	37					$	26					$	1,558					$	1,284
Actual return on plan assets			5,878						6,991						(9)						(5)						184						171
Employer contributions			2,793						2,021						263						274						69						67
Plan participants’ contributions			—						—						32						30						3						3
Gross benefits paid			(1,846)						(2,394)						(274)						(288)						(38)						(40)
Foreign currency exchange rate changes			—						—						—						—						62						49
Curtailments and settlements			—						—						—						—						(3)						(2)
Other			—						—						—						—						—						26
Fair value of plan assets at end of year			$	52,997					$	46,172					$	49					$	37					$	1,835					$	1,558

Funded Status as of the Respective Measurement Dates in Each Year and the Amounts Recognized in Balance Sheet

The following table discloses the funded status of our plans and the amounts recognized in our consolidated balance sheets as of December 31 (in millions):

			U.S. Pension Benefits												U.S. Postretirement Medical Benefits												International Pension Benefits
			2020						2019						2020						2019						2020						2019
Funded Status:
Fair value of plan assets			$	52,997					$	46,172					$	49					$	37					$	1,835					$	1,558
Benefit obligation			(65,922)						(54,039)						(2,759)						(2,616)						(2,177)						(1,906)
Funded status			$	(12,925)					$	(7,867)					$	(2,710)					$	(2,579)					$	(342)					$	(348)
Funded Status Recognized in our Balance Sheet:
Other non-current assets			$	—					$	—					$	—					$	—					$	51					$	34
Other current liabilities			(22)						(22)						(184)						(200)						(5)						(5)
Pension and postretirement benefit obligations			(12,903)						(7,845)						(2,526)						(2,379)						(388)						(377)
Net liability			$	(12,925)					$	(7,867)					$	(2,710)					$	(2,579)					$	(342)					$	(348)
Amounts Recognized in AOCI:
Unrecognized net prior service cost			$	(753)					$	(800)					$	(9)					$	(16)					$	(11)					$	(12)
Unrecognized net actuarial gain (loss)			(6,592)						(5,404)						(276)						(240)						(151)						(162)
Gross unrecognized cost			(7,345)						(6,204)						(285)						(256)						(162)						(174)
Deferred tax assets (liabilities)			1,770						1,497						69						62						38						40
Net unrecognized cost			$	(5,575)					$	(4,707)					$	(216)					$	(194)					$	(124)					$	(134)

Projected Benefit Obligation, Accumulated Benefit Obligation, and Fair Value of Plan Assets for Pension Plans With an Accumulated Benefit Obligation in Excess of Plan Assets

As of December 31, 2020 and 2019, the projected benefit obligation, the accumulated benefit obligation and the fair value of plan assets for pension plans with benefit obligations in excess of plan assets were as follows (in millions):

			Projected Benefit Obligation Exceeds the Fair Value of Plan Assets												Accumulated Benefit Obligation Exceeds the Fair Value of Plan Assets
			2020						2019						2020						2019
U.S. Pension Benefits:
Projected benefit obligation			$	65,922					$	54,039					$	65,922					$	54,039
Accumulated benefit obligation			64,937						53,194						64,937						53,194
Fair value of plan assets			52,997						46,172						52,997						46,172
International Pension Benefits:
Projected benefit obligation			$	845					$	1,319					$	845					$	1,319
Accumulated benefit obligation			728						1,210						728						1,210
Fair value of plan assets			452						948						452						948

Fair Values of U.S. Pension and Postretirement Benefit Plan Assets by Asset Category as Well as the Percentage That Each Category Comprises of Total Plan Assets and the Respective Target Allocations

The fair values of U.S. and international pension and postretirement benefit plan assets by asset category as of December 31, 2020 are presented below (in millions), as well as the percentage that each category comprises of our total plan assets and the respective target allocations:

			Total Assets(1)						Level 1						Level 2						Level 3						Percentage of Plan Assets						Target Allocation
Asset Category (U.S. Plans):
Cash and cash equivalents			$	1,593					$	1,510					$	83					$	—					3.0		%				1-5
Equity Securities:
U.S. Large Cap			8,294						4,272						4,022						—
U.S. Small Cap			370						370						—						—
Emerging Markets			2,106						1,503						603						—
Global Equity			3,940						3,624						316						—
International Equity			4,335						2,043						2,292						—
Total Equity Securities			19,045						11,812						7,233						—						35.9						25-55
Fixed Income Securities:
U.S. Government Securities			16,145						14,646						1,499						—
Corporate Bonds			6,146						—						6,143						3
Global Bonds			42						—						42						—
Municipal Bonds			27						—						27						—
Total Fixed Income Securities			22,360						14,646						7,711						3						42.2						35-55
Other Investments:
Hedge Funds			3,518						—						1,652						—						6.6						5-15
Private Equity			3,424						—						—						—						6.5						1-10
Private Debt			695						—						—						—						1.3						1-10
Real Estate			1,986						244						82						—						3.7						1-10
Structured Products(2)			161						—						161						—						0.3						1-5
Risk Parity Funds			264						—						—						—						0.5						1-10
Total U.S. Plan Assets			$	53,046					$	28,212					$	16,922					$	3					100.0		%
Asset Category (International Plans):
Cash and cash equivalents			$	84					$	45					$	39					—						4.6						1-10
Equity Securities:
Local Markets Equity			214						—						214						—
U.S. Equity			59						—						59						—
Emerging Markets			55						41						14						—
International / Global Equity			534						210						324						—
Total Equity Securities			862						251						611						—						47.0						25-55
Fixed Income Securities:
Local Government Bonds			102						—						102						—
Corporate Bonds			215						22						193						—
Global Bonds			125						125						—						—
Total Fixed Income Securities			442						147						295						—						24.1						20-40
Other Investments:
Real Estate			154						—						80						21						8.3						5-10
Other			293						—						236						41						16.0						1-20
Total International Plan Assets			$	1,835					$	443					$	1,261					$	62					100.0		%
Total Plan Assets			$	54,881					$	28,655					$	18,183					$	65

(1) Certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy but are included in the category totals.

(2) Represents mortgage and asset-backed securities.

The fair values of U.S. and international pension and postretirement benefit plan assets by asset category as of December 31, 2019 are presented below (in millions), as well as the percentage that each category comprises of our total plan assets and the respective target allocations:

			Total Assets(1)						Level 1						Level 2						Level 3						Percentage of Plan Assets						Target Allocation
Asset Category (U.S. Plans):
Cash and cash equivalents			$	964					$	818					$	146					$	—					2.1		%				1-5
Equity Securities:
U.S. Large Cap			6,607						2,889						3,718						—
U.S. Small Cap			505						376						129						—
Emerging Markets			2,039						1,523						516						—
Global Equity			2,892						2,553						339						—
International Equity			4,591						2,499						2,092						—
Total Equity Securities			16,634						9,840						6,794						—						36.0						25-55
Fixed Income Securities:
U.S. Government Securities			14,077						12,980						1,097						—
Corporate Bonds			5,051						—						5,051						—
Global Bonds			50						—						50						—
Municipal Bonds			24						—						24						—
Total Fixed Income Securities			19,202						12,980						6,222						—						41.5						35-55
Other Investments:
Hedge Funds			3,273						—						1,380						—						7.1						5-15
Private Equity			3,030						—						—						—						6.6						1-10
Private Debt			772						—						—						—						1.7						1-10
Real Estate			1,940						149						74						—						4.2						1-10
Structured Products(2)			153						—						153						—						0.3						1-5
Risk Parity Funds			241						—						—						—						0.5						1-10
Total U.S. Plan Assets			$	46,209					$	23,787					$	14,769					$	—					100.0		%
Asset Category (International Plans):
Cash and cash equivalents			$	72					$	32					$	40					—						4.6						1-10
Equity Securities:
Local Markets Equity			209						—						209						—
U.S. Equity			47						—						47						—
Emerging Markets			33						33						—						—
International / Global Equity			441						179						262						—
Total Equity Securities			730						212						518						—						46.8						30-60
Fixed Income Securities:
Local Government Bonds			94						—						94						—
Corporate Bonds			177						20						157						—
Global Bonds			110						110						—						—
Total Fixed Income Securities			381						130						251						—						24.5						25-45
Other Investments:
Real Estate			128						—						80						—						8.2						5-10
Other			247						—						218						12						15.9						1-20
Total International Plan Assets			$	1,558					$	374					$	1,107					$	12					100.0		%
Total Plan Assets			$	47,767					$	24,161					$	15,876					$	12

(1) Certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy but are included in the category totals.

(2) Represents mortgage and asset-backed securities.

Fair Value Measurement of Plan Assets Using Significant Unobservable Inputs (Level 3)

The following table presents the changes in the Level 3 instruments measured on a recurring basis for the years ended December 31, 2020 and 2019 (in millions):

			Corporate Bonds						Other						Total
Balance on January 1, 2019			$	2					$	4					$	6
Actual Return on Assets:
Assets Held at End of Year			—						1						1
Assets Sold During the Year			(4)						—						(4)
Purchases			4						7						11
Sales			(2)						—						(2)
Transfers Into (Out of) Level 3			—						—						—
Balance on December 31, 2019			$	—					$	12					$	12
Actual Return on Assets:
Assets Held at End of Year			—						3						3
Assets Sold During the Year			(5)						—						(5)
Purchases			10						51						61
Sales			(2)						(4)						(6)
Transfers Into (Out of) Level 3			—						—						—
Balance on December 31, 2020			$	3					$	62					$	65

Expected Cash Flows for Pension and Postretirement Benefit Plans

Information about expected cash flows for the pension and postretirement medical benefit plans is as follows (in millions):

			U.S. Pension Benefits						U.S. Postretirement Medical Benefits						International  Pension Benefits
Expected Employer Contributions:
2021 to plan trusts			$	—					$	186					$	66
2021 to plan participants			23						70						6
Expected Benefit Payments:
2021			$	1,758					$	236					$	37
2022			1,892						227						42
2023			2,022						216						47
2024			2,156						205						54
2025			2,395						195						60
2026 - 2030			14,745						831						406

schedule of one basis point change in discount rate on the projected benefit obligation [Table Text Block]

As of December 31, 2020, the impact of each basis point change in the discount rate on the projected benefit obligation of our pension and postretirement medical benefit plans is as follows (in millions):

			Increase (Decrease) in the Projected Benefit Obligation
			Pension Benefits						Postretirement Medical Benefits
One basis point increase in discount rate			$	(110)					$	(2)
One basis point decrease in discount rate			118						3

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