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Pensions And Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2020

Defined Benefit Plan Disclosure [Line Items]

Changes in Benefit Obligations, Plan Assets and Funded Status

			Year Ended December 31, 2020																		Year Ended December 31, 2019
			Pension Benefits												Global OPEB Plans						Pension Benefits												Global OPEB Plans
			U.S.						Non-U.S.												U.S.						Non-U.S.
Change in benefit obligations
Beginning benefit obligation			$	64,684					$	21,398					$	6,304					$	61,190					$	19,904					$	5,744
Service cost			177						133						19						179						120						17
Interest cost			1,716						362						173						2,264						456						220
Actuarial losses			4,757						1,506						551						6,444						1,653						641
Benefits paid			(4,600)						(1,132)						(408)						(4,753)						(1,234)						(395)
Foreign currency translation adjustments			—						870						(3)						—						561						54
Curtailments, settlements and other			(266)						(2,330)						20						(640)						(62)						23
Ending benefit obligation			66,468						20,807						6,656						64,684						21,398						6,304
Change in plan assets
Beginning fair value of plan assets			59,239						14,961						—						56,102						13,528						—
Actual return on plan assets			6,635						1,573						—						8,454						1,669						—
Employer contributions			68						396						387						83						532						370
Benefits paid			(4,600)						(1,132)						(408)						(4,753)						(1,234)						(395)
Foreign currency translation adjustments			—						389						—						—						668						—
Settlements and other			(265)						(2,341)						21						(647)						(202)						25
Ending fair value of plan assets			61,077						13,846						—						59,239						14,961						—
Ending funded status			$	(5,391)					$	(6,961)					$	(6,656)					$	(5,445)					$	(6,437)					$	(6,304)
Amounts recorded in the consolidated balance sheets
Non-current assets			$	—					$	980					$	—					$	—					$	698					$	—
Current liabilities			(66)						(364)						(379)						(68)						(342)						(369)
Non-current liabilities			(5,325)						(7,577)						(6,277)						(5,377)						(6,793)						(5,935)
Net amount recorded			$	(5,391)					$	(6,961)					$	(6,656)					$	(5,445)					$	(6,437)					$	(6,304)
Amounts recorded in Accumulated other comprehensive loss
Net actuarial loss			$	(3,256)					$	(5,123)					$	(1,823)					$	(1,980)					$	(4,688)					$	(1,364)
Net prior service (cost) credit			11						(60)						20						14						(78)						27
Total recorded in Accumulated other comprehensive loss			$	(3,245)					$	(5,183)					$	(1,803)					$	(1,966)					$	(4,766)					$	(1,337)

Schedule of amounts recorded in the consolidated balance sheets

			Year Ended December 31, 2020																		Year Ended December 31, 2019
			Pension Benefits												Global OPEB Plans						Pension Benefits												Global OPEB Plans
			U.S.						Non-U.S.												U.S.						Non-U.S.
Change in benefit obligations
Beginning benefit obligation			$	64,684					$	21,398					$	6,304					$	61,190					$	19,904					$	5,744
Service cost			177						133						19						179						120						17
Interest cost			1,716						362						173						2,264						456						220
Actuarial losses			4,757						1,506						551						6,444						1,653						641
Benefits paid			(4,600)						(1,132)						(408)						(4,753)						(1,234)						(395)
Foreign currency translation adjustments			—						870						(3)						—						561						54
Curtailments, settlements and other			(266)						(2,330)						20						(640)						(62)						23
Ending benefit obligation			66,468						20,807						6,656						64,684						21,398						6,304
Change in plan assets
Beginning fair value of plan assets			59,239						14,961						—						56,102						13,528						—
Actual return on plan assets			6,635						1,573						—						8,454						1,669						—
Employer contributions			68						396						387						83						532						370
Benefits paid			(4,600)						(1,132)						(408)						(4,753)						(1,234)						(395)
Foreign currency translation adjustments			—						389						—						—						668						—
Settlements and other			(265)						(2,341)						21						(647)						(202)						25
Ending fair value of plan assets			61,077						13,846						—						59,239						14,961						—
Ending funded status			$	(5,391)					$	(6,961)					$	(6,656)					$	(5,445)					$	(6,437)					$	(6,304)
Amounts recorded in the consolidated balance sheets
Non-current assets			$	—					$	980					$	—					$	—					$	698					$	—
Current liabilities			(66)						(364)						(379)						(68)						(342)						(369)
Non-current liabilities			(5,325)						(7,577)						(6,277)						(5,377)						(6,793)						(5,935)
Net amount recorded			$	(5,391)					$	(6,961)					$	(6,656)					$	(5,445)					$	(6,437)					$	(6,304)
Amounts recorded in Accumulated other comprehensive loss
Net actuarial loss			$	(3,256)					$	(5,123)					$	(1,823)					$	(1,980)					$	(4,688)					$	(1,364)
Net prior service (cost) credit			11						(60)						20						14						(78)						27
Total recorded in Accumulated other comprehensive loss			$	(3,245)					$	(5,183)					$	(1,803)					$	(1,966)					$	(4,766)					$	(1,337)

Schedule of Projected Benefit Obligations in Excess of Fair Value of Plan Assets

The following table summarizes the total accumulated benefit obligations (ABO), the ABO and fair value of plan assets for defined benefit pension plans with ABO in excess of plan assets, and the projected benefit obligation (PBO) and fair value of plan assets for defined benefit pension plans with PBO in excess of plan assets:

			December 31, 2020												December 31, 2019
			U.S.						Non-U.S.						U.S.						Non-U.S.
ABO			$	66,448					$	20,721					$	64,669					$	21,319
Plans with ABO in excess of plan assets
ABO			$	66,448					$	12,042					$	64,669					$	10,996
Fair value of plan assets			$	61,077					$	4,185					$	59,239					$	3,940
Plans with PBO in excess of plan assets
PBO			$	66,468					$	12,128					$	64,684					$	11,079
Fair value of plan assets			$	61,077					$	4,186					$	59,239					$	3,940

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

The following table summarizes the total accumulated benefit obligations (ABO), the ABO and fair value of plan assets for defined benefit pension plans with ABO in excess of plan assets, and the projected benefit obligation (PBO) and fair value of plan assets for defined benefit pension plans with PBO in excess of plan assets:

			December 31, 2020												December 31, 2019
			U.S.						Non-U.S.						U.S.						Non-U.S.
ABO			$	66,448					$	20,721					$	64,669					$	21,319
Plans with ABO in excess of plan assets
ABO			$	66,448					$	12,042					$	64,669					$	10,996
Fair value of plan assets			$	61,077					$	4,185					$	59,239					$	3,940
Plans with PBO in excess of plan assets
PBO			$	66,468					$	12,128					$	64,684					$	11,079
Fair value of plan assets			$	61,077					$	4,186					$	59,239					$	3,940

Schedule of Net Periodic Pension and OPEB expense

The following table summarizes the components of net periodic pension and OPEB expense along with the assumptions used to determine benefit obligations:

			Year Ended December 31, 2020																		Year Ended December 31, 2019																		Year Ended December 31, 2018
			Pension Benefits												Global OPEB Plans						Pension Benefits												Global OPEB Plans						Pension Benefits												Global OPEB Plans
			U.S.						Non-U.S.												U.S.						Non-U.S.												U.S.						Non-U.S.
Components of expense
Service cost			$	251					$	145					$	19					$	393					$	132					$	17					$	330					$	163					$	20
Interest cost			1,716						362						173						2,264						456						220						2,050						464						195
Expected return on plan assets			(3,267)						(675)						—						(3,483)						(786)						—						(3,890)						(825)						—
Amortization of net actuarial losses			16						171						74						11						122						30						10						144						54
Curtailments, settlements and other			17						241						(8)						21						142						(23)						(19)						43						(19)
Net periodic pension and OPEB (income) expense			$	(1,267)					$	244					$	258					$	(794)					$	66					$	244					$	(1,519)					$	(11)					$	250
Weighted-average assumptions used to determine benefit obligations(a)
Discount rate			2.37		%				1.62		%				2.53		%				3.20		%				2.16		%				3.24		%				4.22		%				2.86		%				4.19		%
Weighted-average assumptions used to determine net expense(a)
Discount rate			2.84		%				2.80		%				3.00		%				3.92		%				3.36		%				4.07		%				3.19		%				2.99		%				3.29		%
Expected rate of return on plan assets			5.88		%				4.96		%				N/A						6.37		%				5.76		%				N/A						6.61		%				6.09		%				N/A

_________

(a)    The rate of compensation increase and the cash balance interest crediting rates do not have a significant effect on our U.S. pension and OPEB plans.

Schedule of Assumptions Used

The following table summarizes the components of net periodic pension and OPEB expense along with the assumptions used to determine benefit obligations:

			Year Ended December 31, 2020																		Year Ended December 31, 2019																		Year Ended December 31, 2018
			Pension Benefits												Global OPEB Plans						Pension Benefits												Global OPEB Plans						Pension Benefits												Global OPEB Plans
			U.S.						Non-U.S.												U.S.						Non-U.S.												U.S.						Non-U.S.
Components of expense
Service cost			$	251					$	145					$	19					$	393					$	132					$	17					$	330					$	163					$	20
Interest cost			1,716						362						173						2,264						456						220						2,050						464						195
Expected return on plan assets			(3,267)						(675)						—						(3,483)						(786)						—						(3,890)						(825)						—
Amortization of net actuarial losses			16						171						74						11						122						30						10						144						54
Curtailments, settlements and other			17						241						(8)						21						142						(23)						(19)						43						(19)
Net periodic pension and OPEB (income) expense			$	(1,267)					$	244					$	258					$	(794)					$	66					$	244					$	(1,519)					$	(11)					$	250
Weighted-average assumptions used to determine benefit obligations(a)
Discount rate			2.37		%				1.62		%				2.53		%				3.20		%				2.16		%				3.24		%				4.22		%				2.86		%				4.19		%
Weighted-average assumptions used to determine net expense(a)
Discount rate			2.84		%				2.80		%				3.00		%				3.92		%				3.36		%				4.07		%				3.19		%				2.99		%				3.29		%
Expected rate of return on plan assets			5.88		%				4.96		%				N/A						6.37		%				5.76		%				N/A						6.61		%				6.09		%				N/A

_________

(a)    The rate of compensation increase and the cash balance interest crediting rates do not have a significant effect on our U.S. pension and OPEB plans.

Schedule of Expected Net Benefit Payments

The following table summarizes net benefit payments expected to be paid in the future, which include assumptions related to estimated future employee service:

			Pension Benefits												Global OPEB Plans
			U.S. Plans						Non-U.S. Plans
2021			$	4,821					$	1,172					$	379
2022			$	4,614					$	1,070					$	374
2023			$	4,495					$	1,038					$	369
2024			$	4,387					$	1,015					$	364
2025			$	4,278					$	1,000					$	361
2026 - 2030			$	19,469					$	4,673					$	1,761

Pension Plan

Defined Benefit Plan Disclosure [Line Items]

Schedule of contributions to defined benefit pension plans

The following table summarizes contributions made to the defined benefit pension plans:

			Years Ended December 31,
			2020						2019						2018
U.S. hourly and salaried			$	68					$	83					$	76
Non-U.S.			396						532						1,624
Total			$	464					$	615					$	1,700

Schedules of Fair Value of Plan Assets by Asset Class and Target Allocations

The following table summarizes the target allocations by asset category for U.S. and non-U.S. defined benefit pension plans:

			December 31, 2020												December 31, 2019
			U.S.						Non-U.S.						U.S.						Non-U.S.
Equity			12		%				16		%				12		%				14		%
Debt			64		%				66		%				64		%				67		%
Other(a)			24		%				18		%				24		%				19		%
Total			100		%				100		%				100		%				100		%

__________

(a)    Primarily includes private equity, real estate and absolute return strategies which mainly consist of hedge funds.

Assets and Fair Value Measurements The following tables summarize the fair value of U.S. and non-U.S. defined benefit pension plan assets by asset class:

			December 31, 2020																								December 31, 2019
			Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3						Total
U.S. Pension Plan Assets
Common and preferred stocks			$	7,429					$	—					$	1					$	7,430					$	6,232					$	19					$	1					$	6,252
Government and agency debt securities(a)			—						13,231						—						13,231						—						13,843						—						13,843
Corporate and other debt securities			—						26,475						—						26,475						—						24,809						—						24,809
Other investments, net(b)(c)			(834)						(8)						427						(415)						(47)						25						401						379
Net plan assets subject to leveling			$	6,595					$	39,698					$	428					46,721						$	6,185					$	38,696					$	402					45,283
Plan assets measured at net asset value
Investment funds																					7,534																								7,031
Private equity and debt investments																					3,137																								2,951
Real estate investments																					3,061																								3,484
Total plan assets measured at net asset value																					13,732																								13,466
Other plan assets, net(d)																					624																								490
Net plan assets																					$	61,077																							$	59,239

			December 31, 2020																								December 31, 2019
			Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3						Total
Non-U.S. Pension Plan Assets
Common and preferred stocks			$	572					$	—					$	—					$	572					$	489					$	1					$	—					$	490
Government and agency debt securities(a)			—						3,178						—						3,178						—						3,927						—						3,927
Corporate and other debt securities			—						2,762						—						2,762						—						3,230						—						3,230
Other investments, net(b)(e)			31						(79)						127						79						(5)						(107)						248						136
Net plan assets subject to leveling			$	603					$	5,861					$	127					6,591						$	484					$	7,051					$	248					7,783
Plan assets measured at net asset value
Investment funds																					5,870																								5,608
Private equity and debt investments																					489																								511
Real estate investments																					917																								982
Total plan assets measured at net asset value																					7,276																								7,101
Other plan assets (liabilities), net(d)																					(21)																								77
Net plan assets																					$	13,846																							$	14,961

__________

(a)Includes U.S. and sovereign government and agency issues.

(b)Includes net derivative assets (liabilities).

(c)Level 1 Other investments, net includes derivative liabilities approximating $1.0 billion related to equity option and futures contracts at December 31, 2020.

(d)Cash held by the plans, net of amounts receivable/payable for unsettled security transactions and payables for investment manager fees, custody fees and other expenses.

(e)Level 2 Other investments, net includes Canadian reverse repurchase agreements.

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