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PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]  
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
Summarized information on the Corporation's pension and other postretirement benefit plans is as follows:

Change in Projected Benefit Obligations, Plan Assets and Funded Status for All PlansDefined Benefit
Pension Plans		Other Postretirement Benefit Plan
In millions2021202020212020
Change in projected benefit obligations:
Benefit obligations at beginning of year$4,229 $4,097 $220 $220 
Service cost26 35 1 1 
Interest cost80 112 3 5 
Actuarial changes in assumptions and experience(112)393 (37)2 
Benefits paid(263)(281)(13)(8)
Curtailments/other 1
(20)(127)— — 
Benefit obligations at end of year$3,940 $4,229 $174 $220 
Change in plan assets:
Fair value of plan assets at beginning of year$3,095 $3,148 $— $— 
Actual return on plan assets236 344 — — 
Employer contributions549 2 — — 
Asset transfers (8)(10)— — 
Benefits paid(263)(281)— — 
Other 2
2 (108)— — 
Fair value of plan assets at end of year$3,611 $3,095 $— $— 
Funded status at end of year$(329)$(1,134)$(174)$(220)

Net amounts recognized in the consolidated balance sheets at Dec 31:
Accrued and other current liabilities$(2)$(2)$(13)$(15)
Pension and other postretirement benefits - noncurrent(327)(1,132)(161)(205)
Net amount recognized$(329)$(1,134)$(174)$(220)
Pretax amounts recognized in accumulated other comprehensive loss at Dec 31:
Net loss (gain)$2,007 $2,267 $(84)$(52)
Prior service credit(1)(9)— — 
Pretax balance in accumulated other comprehensive loss at end of year$2,006 $2,258 $(84)$(52)
1.The 2021 impact relates primarily to the freeze of pensionable compensation and credited service amounts for employees that participate in the UCC Plans. The 2020 impact relates primarily to the transfer of benefit obligations through the purchase of annuity contracts from an insurance company.
2.The 2020 impact relates to the purchase of annuity contracts associated with the transfer of benefit obligations to an insurance company.
Schedule of Net Benefit Costs
Net Periodic Benefit Cost (Credit) for All Plans for the Year Ended Dec 31Defined Benefit Pension PlansOther Postretirement Benefit Plan
In millions202120202019202120202019
Net Periodic Benefit Cost (Credit):
Service cost$26 $35 $34 $1 $1 $1 
Interest cost80 112 145 3 5 7 
Expected return on plan assets(219)(200)(210)— — — 
Amortization of prior service credit(1)(1)(1)— — — 
Amortization of net (gain) loss116 110 84 (4)(6)(8)
Curtailment gain1
(7)— — — — — 
Net periodic benefit cost (credit)$(5)$56 $52 $— $— $— 
Changes in plan assets and benefit obligations recognized in other comprehensive (income) loss:
Net (gain) loss$(144)$240 $202 $(36)$2 $11 
Amortization of prior service credit1 1 1 — — — 
Amortization of net gain (loss)(116)(110)(84)4 6 8 
Curtailment gain1
7 — — — — — 
Total recognized in other comprehensive (income) loss$(252)$131 $119 $(32)$8 $19 
Total recognized in net periodic benefit cost and other comprehensive (income) loss$(257)$187 $171 $(32)$8 $19 
1.The 2021 impact relates primarily to the freeze of pensionable compensation and credited service amounts for employees that participate in the UCC Plans.
Schedule of Expected Benefit Payments
The estimated future benefit payments, reflecting expected future service, as appropriate, are presented in the following table:

Estimated Future Benefit Payments at Dec 31, 2021Defined Benefit Pension PlansOther Postretirement Benefit Plan
In millions
2022$277 $13 
2023251 13 
2024248 12 
2025245 13 
2026241 13 
2027 through 20311,132 55 
Total$2,394 $119 
Schedule of Allocation of Plan Assets
The weighted-average target allocation for plan assets of the Corporation's pension plan is summarized as follows:

Target Allocation for Plan Assets at Dec 31, 2021
Target Allocation
Asset Category
Equity securities23 %
Fixed income securities45 
Alternative investments27 
Other5 
Total100 %
Schedule of Defined Benefit Plans Disclosures
The following table summarizes the bases used to measure the Corporation’s pension plan assets at fair value for the years ended December 31, 2021 and 2020:

Basis of Fair Value MeasurementsDec 31, 2021Dec 31, 2020
In millionsTotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Cash and cash equivalents$289 $251 $38 $— $210 $158 $52 $— 
Equity securities:
U.S. equity securities $431 $431 $— $— $313 $313 $— $— 
Non - U.S. equity securities405 378 26 1 343 305 37 1 
Total equity securities$836 $809 $26 $1 $656 $618 $37 $1 
Fixed income securities:
Debt - government-issued$806 $4 $802 $— $820 $10 $810 $— 
Debt - corporate-issued796 146 650 — 494 15 479 — 
Debt - asset-backed17 — 17 — 25 — 25 — 
Total fixed income securities$1,619 $150 $1,469 $— $1,339 $25 $1,314 $— 
Alternative investments:
Private markets$2 $— $— $2 $6 $— $— $6 
Derivatives - asset position30 — 30 — 76 — 76 — 
Derivatives - liability position(12)— (12)— (38)— (38)— 
Total alternative investments$20 $— $18 $2 $44 $— $38 $6 
Other investments $1 $1 $— $— $(5)$4 $(9)$— 
Subtotal$2,765 $1,211 $1,551 $3 $2,244 $805 $1,432 $7 
Investments measured at net asset value:
Hedge funds$197 $212 
Private markets414 392 
Real estate237 257 
Total investments measured at net asset value$848 $861 
Items to reconcile to fair value of plan assets:
Pension trust receivables 1
$33 $— 
Pension trust payables 2
(35)(10)
Total$3,611 $3,095 
1.Primarily receivables for investment securities sold.
2.Primarily payables for investment securities purchased.
Pension Plan [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Assumptions Used
The weighted-average assumptions used to determine pension plan obligations and net periodic benefit costs are provided below:

Pension Plan Assumptions
Benefit Obligations
at Dec 31		Net Periodic Benefit Costs
for the Year Ended
20212020202120202019
Discount rate2.94 %2.53 %2.86 %3.29 %4.32 %
Interest crediting rate for applicable benefits4.50 %4.50 %4.50 %4.50 %4.50 %
Rate of compensation increase4.25 %4.25 %4.25 %4.25 %4.25 %
Expected return on plan assets6.80 %6.80 %6.80 %
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets at Dec 31
In millions20212020
Accumulated benefit obligations$3,935 $4,200 
Fair value of plan assets$3,611 $3,095 
Schedule of Projected Benefit Obligations in Excess of Fair Value of Plan Assets
Pension Plans with Projected Benefit Obligations in Excess of Plan Assets at Dec 3120212020
In millions
Projected benefit obligations$3,940 $4,229 
Fair value of plan assets$3,611 $3,095 
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
The following table summarizes the changes in fair value of Level 3 pension plan assets for the years ended December 31, 2021 and 2020:

Fair Value Measurement of Level 3 Pension Plan AssetsEquity SecuritiesAlternative InvestmentsTotal
In millions
Balance at Jan 1, 2020$4 $5 $9 
Actual return on plan assets:
Relating to assets held at Dec 31, 2020— 3 3 
Relating to assets sold during 2020— (4)(4)
Purchases, sales and settlements(3)2 (1)
Balance at Dec 31, 2020$1 $6 $7 
Actual return on plan assets:
Relating to assets held at Dec 31, 2021— (4)(4)
Balance at Dec 31, 2021$1 $2 $3 
Other Postretirement Benefits Plan [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Assumptions Used
The weighted-average assumptions used to determine other postretirement benefit plan obligations and net periodic benefit costs for the plan are provided in the following table:

Other Postretirement Benefit Plan Assumptions
Benefit Obligations
at Dec 31
Net Periodic Benefit Costs
for the Year Ended
20212020202120202019
Discount rate2.84 %2.34 %2.34 %3.17 %4.23 %
Health care cost trend rate assumed for next year6.50 %6.75 %6.75 %6.25 %6.50 %
Rate to which the cost trend rate is assumed to decline (the ultimate health care cost trend rate)5.00 %5.00 %5.00 %5.00 %5.00 %
Year that the rate reaches the ultimate health care cost trend rate20282028202820252025