PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables)

12 Months Ended

Dec. 31, 2013



Net Periodic Benefit Cost for all Plans
	Defined Benefit Pension Plans									Other Postretirement Benefits
In millions	2013			2012			2011			2013			2012			2011
Service cost	$	31		$	28		$	25		$	2		$	2		$	2
Interest cost	165			189			200			14			17			19
Expected return on plan assets	(232		)	(235		)	(255		)	—			—			—
Amortization of prior service cost (credit)	7			7			7			(1		)	(2		)	(2		)
Amortization of net loss	88			60			85			—			—			—
Net periodic benefit cost	$	59		$	49		$	62		$	15		$	17		$	19



Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) for all Plans
	Defined Benefit Pension Plans									Other Postretirement Benefits
In millions	2013			2012			2011			2013			2012		2011
Net (gain) loss	$	(283	)	$	375		$	254		$	(102	)	$	16	$	(4	)
Amortization of prior service (cost) credit	(7		)	(7		)	(7		)	1			2		2
Amortization of net loss	(88		)	(60		)	(85		)	—			—		—
Total recognized in other comprehensive (income) loss	$	(378	)	$	308		$	162		$	(101	)	$	18	$	(2	)
Total recognized in net periodic benefit cost and other comprehensive (income) loss	$	(319	)	$	357		$	224		$	(86	)	$	35	$	17



Change in Projected Benefit Obligations, Plan Assets and Funded Status for all Plans
	Defined Benefit Pension Plans						Other Postretirement Benefits
In millions	2013			2012			2013			2012
Change in projected benefit obligation:
Benefit obligation at beginning of year	$	4,433		$	4,037		$	414		$	412
Service cost	31			28			2			2
Interest cost	165			189			14			17
Actuarial changes in assumptions and experience	(342		)	472			(102		)	16
Benefits paid	(285		)	(286		)	(26		)	(33		)
Other	(7		)	(7		)	—			—
Benefit obligation at end of year	$	3,995		$	4,433		$	302		$	414

Change in plan assets:
Fair value of plan assets at beginning of year	$	3,548		$	3,351		$	—		$	—
Actual return on plan assets	174			331			—			—
Employer contributions	158			158			—			—
Asset transfer	(9		)	(6		)	—			—
Benefits paid	(285		)	(286		)	—			—
Fair value of plan assets at end of year	$	3,586		$	3,548		$	—		$	—

Funded status at end of year	$	(409	)	$	(885	)	$	(302	)	$	(414	)



Net amounts recognized in the consolidated balance sheets at December 31:
Current liabilities	$	(1	)	$	(1	)	$	(33	)	$	(36	)
Noncurrent liabilities	(408		)	(884		)	(269		)	(378		)
Net amounts recognized in the consolidated balance sheets	$	(409	)	$	(885	)	$	(302	)	$	(414	)

Pretax amounts recognized in AOCI at December 31:
Net loss (gain)	$	1,570		$	1,941		$	(107	)	$	(5	)
Prior service cost (credit)	26			33			(1		)	(2		)
Pretax balance in AOCI at end of year	$	1,596		$	1,974		$	(108	)	$	(7	)



Estimated Future Benefit Payments at December 31, 2013
In millions	Defined Benefit Pension Plans		Other Postretirement Benefits
2014	$	281	$	33
2015	276		32
2016	276		29
2017	274		26
2018	274		25
2019 through 2023	1,334		106
Total	$	2,715	$	251



Strategic Target Allocation of Plan Assets
Asset Category	Target Allocation
Equity securities	25	%
Fixed income securities	45	%
Alternative investments	25	%
Other	5	%
Total	100	%



Basis of Fair Value Measurements at December 31, 2013 In millions	Quoted Prices in Active Markets for Identical Items (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total
Cash and cash equivalents	$	3	$	304		$	—	$	307
Equity securities:
U.S. equity	$	388	$	143		$	—	$	531
Non-U.S. equity - developed countries	181		85			—		266
Emerging markets	119		67			2		188
Total equity securities	$	688	$	295		$	2	$	985
Fixed income securities:
U.S. government and municipalities	$	—	$	606		$	—	$	606
U.S. agency mortgage backed securities	—		63			—		63
Corporates - investment grade	—		635			—		635
Non-U.S. governments - developed countries	—		2			—		2
Non-U.S. corporates - developed countries	—		159			—		159
Emerging markets debt	—		22			—		22
Other asset-backed securities	—		9			2		11
Other fixed income funds	—		—			12		12
High yield bonds	—		3			—		3
Fixed income derivatives	—		(3		)	—		(3		)
Total fixed income securities	$	—	$	1,496		$	14	$	1,510
Alternative investments:
Real estate	$	—	$	—		$	292	$	292
Private equity	—		—			228		228
Absolute return	—		127			103		230
Total alternative investments	$	—	$	127		$	623	$	750
Total other securities	$	—	$	12		$	22	$	34
Total pension plan assets at fair value	$	691	$	2,234		$	661	$	3,586



Basis of Fair Value Measurements at December 31, 2012 In millions	Quoted Prices in Active Markets for Identical Items (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash and cash equivalents	$	5	$	371	$	—	$	376
Equity securities:
U.S. equity	$	211	$	42	$	—	$	253
Non-U.S. equity - developed countries	208		71		—		279
Emerging markets	133		137		3		273
Convertible Bonds	—		2		—		2
Equity derivatives	—		1		—		1
Total equity securities	$	552	$	253	$	3	$	808
Fixed income securities:
U.S. government and municipalities	$	—	$	733	$	—	$	733
U.S. agency mortgage backed securities	—		115		—		115
Corporates - investment grade	—		685		—		685
Non-U.S. governments - developed countries	—		3		—		3
Non-U.S. corporates - developed countries	—		104		—		104
Emerging markets debt	—		10		—		10
Other asset-backed securities	—		6		—		6
Other fixed income funds	—		—		17		17
High yield bonds	—		2		—		2
Total fixed income securities	$	—	$	1,658	$	17	$	1,675
Alternative investments:
Real estate	$	—	$	—	$	248	$	248
Private equity	—		—		230		230
Absolute return	—		115		74		189
Total alternative investments	$	—	$	115	$	552	$	667
Other securities:
Insurance contracts	$	—	$	—	$	22	$	22
Total other securities	$	—	$	—	$	22	$	22
Total pension plan assets at fair value	$	557	$	2,397	$	594	$	3,548

Defined Benefit Pension Plans [Member]



Pension Plan Assumptions	Benefit Obligations at December 31						Net Periodic Costs for the Year
	2013		2012		2011		2013		2012		2011
Discount rate	4.75	%	3.85	%	4.85	%	3.85	%	4.85	%	5.35	%
Rate of increase in future compensation levels	4.50	%	4.50	%	4.50	%	4.50	%	4.50	%	4.50	%
Long-term rate of return on assets	—		—		—		6.90	%	6.90	%	7.40	%



Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets at December 31
In millions	2013		2012
Projected benefit obligation	$	3,995	$	4,433
Accumulated benefit obligation	$	3,963	$	4,383
Fair value of plan assets	$	3,586	$	3,548



Fair Value Measurement of Level 3 Pension Plan Assets In millions	Equity Securities			Fixed Income Securities			Alternative Investments			Other Investments		Total
Balance at January 1, 2012	$	2		$	11		$	484		$	22	$	519
Actual return on plan assets:
Relating to assets held at Dec. 31, 2012	(1		)	—			53			—		52
Relating to assets sold during 2012	(1		)	—			(7		)	—		(8		)
Purchases, sales and settlements	3			6			(7		)	—		2
Transfers into Level 3, net	—			—			29			—		29
Balance at December 31, 2012	$	3		$	17		$	552		$	22	$	594
Actual return on plan assets:
Relating to assets held at Dec. 31, 2013	(2		)	—			22			—		20
Relating to assets sold during 2013	—			—			40			—		40
Purchases, sales and settlements	1			(3		)	9			—		7
Balance at December 31, 2013	$	2		$	14		$	623		$	22	$	661