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Employee Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2018

Benefit Obligations in Excess of Fair Value of Plan Assets



	December 31,
	2018			2017

Projected benefit obligation	$	3,754		$	3,843
Fair value of plan assets	$	2,910		$	3,173



Accumulated Benefit Obligation in Excess of Fair Value of Plan Assets



	December 31,
	2018			2017

Accumulated benefit obligation	$	3,410		$	3,555
Fair value of plan assets	$	2,766		$	3,025



Net Periodic Benefit Expense



		Postretirement benefits
		2018			2017			2016

Service cost		$	10		$	10		$	9
Interest cost			24			26			26
Amortization of actuarial net gain						(1)			(1)
Amortization of prior service credit			(7)			(3)			(4)
Total net periodic benefit expense		$	27		$	32		$	30

Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Current year actuarial (gain) loss		$	(47)		$	17		$	15
Amortization of actuarial net gain						1			1
Current year prior service credit			(40)
Amortization of prior service credit			7			3			5
Total recognized in other comprehensive income (loss)		$	(80)		$	21		$	21

Total recognized in net periodic benefit cost and other comprehensive income		$	(53)		$	53		$	51



Weighted-average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost



	Pension benefits
	Domestic									International									Postretirement benefits
	2018			2017			2016			2018			2017			2016			2018			2017			2016
Discount rate	4.28	%		3.58	%		4.01	%		1.96	%		1.93	%		2.29	%		4.33	%		3.63	%		4.07	%
Rate of compensation increase	3.50	%		3.50	%		3.50	%		2.96	%		2.81	%		3.97	%



The weighted-average assumptions used to determine net periodic benefit cost for years ended December 31 follow:





	Pension benefits
	Domestic									International									Postretirement benefits
	2018			2017			2016			2018			2017			2016			2018			2017			2016
Discount rate	3.58	%		4.01	%		4.24	%		1.93	%		2.29	%		3.23	%		3.63	%		4.06	%		4.31	%
Expected return on plan assets	6.00	%		6.00	%		6.00	%		2.13	%		3.97	%		3.92	%
Rate of compensation increase	3.50	%		3.50	%		3.50	%		2.81	%		2.06	%		2.89	%



Assumed Health Care Trend Rates



Assumed health care trend rates at December 31	2018		2017
Health care cost trend rate assumed for next year	7.00%		6.50%
Rate that the cost trend rate gradually declines to	5%		5%
Year that the rate reaches the ultimate trend rate	2027		2024



Effect One-percent-point Change in Assumed Health Care Cost



	One-percentage-point increase			One-percentage-point decrease
Effect on annual total of service and interest cost (credit)	$	3		$	(2)
Effect on postretirement benefit obligation	$	45		$	(37)



Estimated Future Benefit Payments and Gross Medicare to be Received



	Expected benefit payments
	Domestic pension benefits			International pension benefits			Postretirement benefits
2019	$	199		$	23		$	37
2020	$	203		$	30		$	40
2021	$	212		$	28		$	40
2022	$	220		$	31		$	42
2023	$	229		$	30		$	42
2024-2028	$	1,242		$	196		$	213



Pension Benefits [Member]

Obligations and Funded Status Schedule




	Total pension benefits						Domestic pension benefits						International pension benefits
December 31,	2018			2017			2018			2017			2018			2017

Change in benefit obligation
Benefit obligation at beginning of year	$	4,188		$	3,887		$	3,522		$	3,289		$	666		$	598
Service cost		103			92			78			66			25			26
Interest cost		132			126			116			112			16			14
Plan participants’ contributions		1			2			1			1						1
Plan amendments		21						20						1
Actuarial loss (gain)		(210)			208			(200)			222			(10)			(14)
Other		(1)			3						3			(1)
Benefits paid		(202)			(195)			(179)			(171)			(23)			(24)
Foreign currency translation		(29)			65									(29)			65
Benefit obligation at end of year	$	4,003		$	4,188		$	3,358		$	3,522		$	645		$	666

Change in plan assets
Fair value of plan assets at beginning of year	$	3,539		$	3,225		$	3,004		$	2,765		$	535		$	460
Actual return on plan assets		(201)			413			(202)			395			1			18
Employer contributions		135			46			118			14			17			32
Plan participants’ contributions		1			1			1			1
Benefits paid		(208)			(195)			(179)			(171)			(29)			(24)
Foreign currency translation		(27)			49									(27)			49
Fair value of plan assets at end of year	$	3,239		$	3,539		$	2,742		$	3,004		$	497		$	535

Funded status at end of year
Fair value of plan assets	$	3,239		$	3,539		$	2,742		$	3,004		$	497		$	535
Benefit obligations		(4,003)			(4,188)			(3,358)			(3,522)			(645)			(666)
Funded status of plans	$	(764)		$	(649)		$	(616)		$	(518)		$	(148)		$	(131)

Amounts recognized in the consolidated   balance sheets consist of:
Noncurrent asset	$	81		$	76								$	81		$	76
Current liability		(29)			(20)		$	(13)		$	(12)			(16)			(8)
Noncurrent liability		(816)			(705)			(603)			(506)			(213)			(199)
Recognized liability	$	(764)		$	(649)		$	(616)		$	(518)		$	(148)		$	(131)

Amounts recognized in accumulated other   comprehensive income consist of:
Net actuarial loss	$	338		$	300		$	324		$	285		$	14		$	15
Prior service cost (credit)		36			22			37			25			(1)			(3)
Amount recognized at end of year	$	374		$	322		$	361		$	310		$	13		$	12




Net Periodic Benefit Expense



	Total pension benefits									Domestic pension benefits									International pension benefits
December 31,	2018			2017			2016			2018			2017			2016			2018			2017			2016

Service cost	$	103		$	92		$	85		$	78		$	66		$	61		$	25		$	26		$	24
Interest cost		132			126			124			116			112			111			16			14			13
Expected return on plan assets		(189)			(174)			(165)			(178)			(163)			(153)			(11)			(11)			(12)
Amortization of prior service   cost (credit)		6			5			6			7			6			6			(1)			(1)
Recognition of actuarial loss		145			21			67			143			18			55			2			3			12
Total net periodic benefit expense	$	197		$	70		$	117		$	166		$	39		$	80		$	31		$	31		$	37
Settlement charge		(1)						1									1			(1)
Total expense	$	196		$	70		$	118		$	166		$	39		$	81		$	30		$	31		$	37

Other changes in plan assets and   benefit obligations recognized   in other comprehensive income:
Settlements	$	1					$	(2)								$	(2)		$	1
Current year actuarial loss (gain)		180		$	(30)			84		$	182		$	(8)			63			(2)		$	(22)		$	21
Recognition of actuarial loss		(145)			(21)			(64)			(143)			(18)			(55)			(2)			(3)			(9)
Current year prior service cost		20									20
Amortization of prior service   (cost) credit		(6)			(5)			(6)			(7)			(6)			(6)			1			1
Total recognized in other   comprehensive loss (income)	$	50		$	(56)		$	12		$	52		$	(32)		$	0		$	(2)		$	(24)		$	12




Changes in Fair Value of Level 3 Assets for Defined Benefit Plans



	Level 3 assets – Domestic						Level 3 assets – International
	Year ended December 2018						Year ended December 2018
(in millions)	Private equity			Real estate			Mortgages			Insurance contracts

Beginning balance at December 31, 2017	$	105		$	147		$	16		$	2

Actual return on plan assets relating to assets still held at the reporting date		15			9
Transfers in and/or out of level 3		(38)			(8)			6
Ending balance at December 31, 2018	$	82		$	148		$	22		$	2







	Level 3 assets – Domestic						Level 3 assets – International
	Year ended December 2017						Year ended December 2017
(in millions)	Private equity			Real estate			Mortgages			Insurance contracts

Beginning balance at December 31, 2016	$	137		$	150					$	2

Actual return on plan assets relating to assets still held at the reporting date		7			6
Transfers in and/or out of level 3		(39)			(9)		$	16
Ending balance at December 31, 2017	$	105		$	147		$	16		$	2



Postretirement Benefits [Member]

Obligations and Funded Status Schedule



	Postretirement benefits
December 31,	2018			2017

Change in benefit obligation
Benefit obligation at beginning of year	$	789		$	776
Service cost		10			10
Interest cost		24			26
Plan participants’ contributions		8			8
Plan amendments		(40)
Actuarial loss (gain)		(48)			17
Benefits paid		(46)			(50)
Medicare subsidy received		2			2
Benefit obligation at end of year	$	699		$	789

Funded status at end of year
Fair value of plan assets
Benefit obligations	$	(699)		$	(789)
Funded status of plans	$	(699)		$	(789)

Amounts recognized in the consolidated balance sheets consist of:
Current liability	$	(37)		$	(40)
Noncurrent liability		(662)			(749)
Recognized liability	$	(699)		$	(789)

Amounts recognized in accumulated other comprehensive income consist of:
Net actuarial loss	$	21		$	68
Prior service credit		(44)			(12)
Amount recognized at end of year	$	(23)		$	56



United States [Member] | Pension Benefits [Member]

Defined Benefit Plan Assets





	December 31, 2018												December 31, 2017
(in millions)	Total			(Level 1)			(Level 2)			(Level 3)			Total			(Level 1)			(Level 2)			(Level 3)
Equity securities:
U.S. companies	$	363		$	2		$	361					$	374		$	57		$	317
International companies		324						324						420			117			303

Fixed income:
U.S. corporate bonds		1,626			183			1,443						1,815			197			1,618

Private equity (1)		82								$	82			105								$	105
Real estate (2)		148									148			147									147
Cash equivalents		199			199									21			21
Commodities (3)														122						122
Total	$	2,742		$	384		$	2,128		$	230		$	3,004		$	392		$	2,360		$	252



(1) This category includes venture capital, leverage buyouts and distressed debt limited partnerships invested primarily in U.S. companies.  The inputs are valued by discounted cash flow analysis and comparable sale analysis.

(2) This category includes industrial, office, apartments, hotels, infrastructure and retail investments which are limited partnerships predominately in the U.S.  The inputs are valued by discounted cash flow analysis; comparable sale analysis and periodic external appraisals.

(3) This category includes investments in energy, industrial metals, precious metals, agricultural and livestock primarily through futures, options, swaps and exchange traded funds.

International [Member] | Pension Benefits [Member]

Defined Benefit Plan Assets



	December 31, 2018												December 31, 2017
(in millions)	Total			(Level 1)			(Level 2)			(Level 3)			Total			(Level 1)			(Level 2)			(Level 3)
Equity securities:
U.S. companies													$	8					$	8
International companies														29						29

Fixed income:
International fixed income	$	428		$	361		$	67						440		$	367			73

Insurance contracts		2								$	2			2								$	2
Mortgages		22									22			16									16
Cash equivalents		45			45									40			40
Total	$	497		$	406		$	67		$	24		$	535		$	407		$	110		$	18



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