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EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
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Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets | Defined benefit plans with accumulated benefit obligations exceeding fair value of plan assets are as follows (in millions):
| 2020 |  | 2019
Projected benefit obligation | $ | 2,207 |  |  | $ | 1,957 |
Accumulated benefit obligation | 2,057 |  |  | 1,539 |
Fair value of plan assets | 1,710 |  |  | 1,545 |
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets | Defined benefit plans with projected benefit obligations exceeding fair value of plan assets are as follows (in millions):
| 2020 |  | 2019
Projected benefit obligation | $ | 2,207 |  |  | $ | 1,957 |
Fair value of plan assets | 1,710 |  |  | 1,545 |
Qualified Defined Benefit [Member] |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] |
Schedule of Assumptions Used [Table Text Block] | Weighted average assumptions used to determine benefit obligations: The rates below vary by plan and related work group.
| 2020 |  | 2019
Discount rates | 2.43% to 2.58% |  | 3.33% to 3.47%
Rate of compensation increases | 2.02% to 2.43% |  | 2.11% to 5.44%
Weighted average assumptions used to determine net periodic benefit cost: The rates below vary by plan and related work group.
| 2020 |  | 2019 |  | 2018
Discount rates | 3.33% to 3.47% |  | 4.37% to 4.46% |  | 3.69% to 3.78%
Expected return on plan assets | 3.25% to 5.50% |  | 4.25% to 5.50% |  | 4.25% to 5.50%
Rate of compensation increases | 2.11% to 5.44% |  | 2.11% to 3.50% |  | 2.11% to 16.51%
Schedule of Allocation of Plan Assets [Table Text Block] | The target and actual asset allocation of the funds in the qualified defined-benefit plans, by asset category, are as follows:
| Salaried Plan(a) |  | All other plans
| Target |  | 2020 |  | 2019 |  | Target |  | 2020 |  | 2019
Asset category: |  |  |  |  |  |  |  |  |  |  |
Domestic equity securities | 2% - 12% |  | 7 | % |  | 7 | % |  | 36% - 46% |  | 44 | % |  | 41 | %
Non-U.S. equity securities | 0% - 8% |  | 3 | % |  | 3 | % |  | 13% - 23% |  | 18 | % |  | 18 | %
Fixed income securities | 85% - 95% |  | 90 | % |  | 90 | % |  | 31% - 41% |  | 33 | % |  | 35 | %
Real estate | — | % |  | — | % |  | — | % |  | 0% - 10% |  | 5 | % |  | 6 | %
Plan assets |  |  | 100 | % |  | 100 | % |  |  |  | 100 | % |  | 100 | %
(a)As our Salaried Plan is frozen and fully funded, our investment strategies differ significantly from that of our other outstanding plans. Investments are in lower-risk securities, with earnings designed to maintain a fully-funded status. Plan assets by fund category (in millions):
| 2020 |  | 2019 |  | Fair Value Hierarchy
Fund type: |  |  |  |  |
U.S. equity market fund | $ | 914 |  |  | $ | 773 |  |  | 1
Non-U.S. equity fund | 384 |  |  | 344 |  |  | 1
Credit bond index fund | 1,088 |  |  | 1,009 |  |  | 1
Plan assets in common commingled trusts | $ | 2,386 |  |  | $ | 2,126 |  |  |
Real estate | 96 |  |  | 102 |  |  | (a)
Cash equivalents | 6 |  |  | 11 |  |  | 1
Total plan assets | $ | 2,488 |  |  | $ | 2,239 |  |  |
(a)In accordance with Subtopic 820-10, certain investments that are measured at net asset value per share (or its equivalent) have not been classified in the fair value hierarchy.
Schedule of Net Funded Status [Table Text Block] | The following table sets forth the status of the qualified defined-benefit pension plans (in millions):
| 2020 |  | 2019
Projected benefit obligation (PBO) |  |  |
Beginning of year | $ | 2,602 |  |  | $ | 2,225 |
Service cost | 52 |  |  | 42 |
Interest cost | 75 |  |  | 89 |
Actuarial (gain)/loss | 339 |  |  | 359 |
Benefits paid | (134) |  |  | (113) |
End of year | $ | 2,934 |  |  | $ | 2,602 |
Plan assets at fair value |  |  |
Beginning of year | $ | 2,239 |  |  | $ | 1,858 |
Actual return on plan assets | 383 |  |  | 429 |
Employer contributions | — |  |  | 65 |
Benefits paid | (134) |  |  | (113) |
End of year | $ | 2,488 |  |  | $ | 2,239 |
Unfunded status | $ | (446) |  |  | $ | (363) |
Percent funded | 85 | % |  | 86 | %
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | The amounts recognized in the consolidated balance sheets (in millions):
| 2020 |  | 2019
Accrued benefit liability-long term | $ | 502 |  |  | $ | 412 |
Plan assets-long term (within Other noncurrent assets) | (51) |  |  | (49) |
Total liability recognized | $ | 451 |  |  | $ | 363 |
The amounts not yet reflected in net periodic benefit cost and included in AOCL (in millions):
| 2020 |  | 2019
Prior service credit | $ | (5) |  |  | $ | (6) |
Net loss | 626 |  |  | 595 |
Amount recognized in AOCL (pretax) | $ | 621 |  |  | $ | 589 |
Schedule of Net Benefit Costs [Table Text Block] | Net pension expense for the qualified defined-benefit plans included the following components (in millions):
| 2020 |  | 2019 |  | 2018
Service cost | $ | 46 |  |  | $ | 42 |  |  | $ | 48 |
Interest cost | 75 |  |  | 89 |  |  | 79 |
Restructuring charges(a) | 11 |  |  | — |  |  | — |
Expected return on assets | (110) |  |  | (95) |  |  | (107) |
Amortization of prior service credit | (1) |  |  | (1) |  |  | (1) |
Recognized actuarial loss | 35 |  |  | 37 |  |  | 33 |
Net pension expense | $ | 56 |  |  | $ | 72 |  |  | $ | 52 |
(a)In conjunction with the workforce reductions stemming from the COVID-19 pandemic, the Company recorded additional expense for employees accepting incentive leaves of absence. Such expense is included in Special items - restructuring charges on the consolidated statement of operations for the year-ended December 31, 2020.
Schedule of Expected Benefit Payments [Table Text Block] | Future benefits expected to be paid over the next ten years under the qualified defined-benefit pension plans from the assets of those plans (in millions):
| Total
2021 | $ | 123 |
2022 | 142 |
2023 | 143 |
2024 | 141 |
2025 | 157 |
2026– 2030 | 829 |

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