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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Pension and PRB Contributions
We made the following contributions to our pension and PRB plans’ trusts during the years ended December 31:
(dollars in millions)202020192018
U.S. qualified defined benefit plans$885 $25 $— 
International defined benefit plans125 30 79 
PRB plans15 — — 
Schedule of Defined Benefit Plans Disclosures [Text Block]
PensionPRB
(dollars in millions)2020201920202019
Change in Benefit Obligation:
Beginning balance$38,027 $34,344 $765 $810 
Service cost attributable to continuing operations483 261 6 2 
Service cost attributable to discontinued operations1 34 — — 
Interest cost1,650 1,245 37 31 
Actuarial loss (gain)7,029 4,247 114 (11)
Total benefits paid(1)
(3,623)(2,016)(144)(69)
Net settlement, curtailment and special termination benefits(4)(206)(8)— 
Plan amendments(2,088)— (7)— 
Business combinations and divestitures(2)
29,385 (6)724 — 
Other (3)
397 124 48 2 
Ending balance$71,257 $38,027 $1,535 $765 
Change in Plan Assets:
Beginning balance$36,225 $32,150 $20 $20 
Actual return on plan assets9,885 5,873 80 — 
Employer contributions(1)
1,201 137 102 69 
Total benefits paid(1)
(3,623)(2,016)(144)(69)
Settlements(32)(17)(8)— 
Business combinations and divestitures(2)
18,310 (10)286 — 
Other (3)
352 108 45 — 
Ending balance$62,318 $36,225 $381 $20 
Funded Status:
Fair value of plan assets$62,318 $36,225 $381 $20 
Benefit obligations(71,257)(38,027)(1,535)(765)
Funded status of plan$(8,939)$(1,802)$(1,154)$(745)
Amounts Recognized in the Consolidated Balance Sheet Consist of:
Noncurrent assets$424 $19 $— $— 
Current liability(232)(51)(82)(47)
Noncurrent liability(9,131)(1,770)(1,072)(698)
Net amount recognized$(8,939)$(1,802)$(1,154)$(745)
Amounts Recognized in Accumulated Other Comprehensive Loss Consist of:
Net actuarial (gain) loss$8,023 $8,160 $(117)$(181)
Prior service (credit) cost (1,947)190 (9)(4)
Net actuarial loss and prior service cost related to discontinued operations— 763 — — 
Net amount recognized$6,076 $9,113 $(126)$(185)
(1)    Includes benefit payments paid directly by the company.
(2)    Consists primarily of liabilities and assets acquired as a part of the Raytheon Merger.
(3)    The amount included in Other primarily reflects the impact of foreign exchange translation, primarily for plans in the U.K. and Canada, and participant contributions.
Schedule of Expected Benefit Payments
The table below reflects the total benefit payments expected to be paid from the plans or from corporate assets.
(dollars in millions)PensionPRB
2021$4,374 $128 
20224,197 120 
20233,831 112 
20243,795 106 
20253,785 100 
2026-203018,311 419 
Marketable Securities The fair value of marketable securities held in trusts consisted of the following:
(dollars in millions)20202019
Marketable securities held in trusts$881 $— 
Pension Plan [Member]  
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 [Table Text Block]
Information for pension plans with accumulated benefit obligations in excess of plan assets: 
(dollars in millions)20202019
Projected benefit obligation$37,215 $37,941 
Accumulated benefit obligation36,150 37,559 
Fair value of plan assets27,854 36,120 
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block]
Information for pension plans with projected benefit obligations in excess of plan assets: 
(dollars in millions)20202019
Projected benefit obligation$37,217 $37,943 
Accumulated benefit obligation36,151 37,600 
Fair value of plan assets27,855 36,122 
Schedule of Net Benefit Costs [Table Text Block]
The components of the net periodic pension (income) expense are as follows: 
(dollars in millions)202020192018
Operating expense
Service cost$483 $261 $265 
Non-operating expense
Interest cost1,650 1,245 1,058 
Expected return on plan assets(2,995)(2,252)(2,061)
Amortization of prior service cost (credit)51 16 (42)
Recognized actuarial net loss337 245 373 
Net settlement, curtailment and special termination benefits (gain) loss45 (59)3 
Non-service pension income(912)(805)(669)
Net periodic pension income$(429)$(544)$(404)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
Other changes in pension plan assets and benefit obligations recognized in other comprehensive loss in 2020 and 2019 are as follows: 
20202019
(dollars in millions)TotalContinuing OperationsDiscontinued OperationsTotal
Actuarial loss arising during the period$155 $434 $119 $553 
Amortization of actuarial loss(337)(245)(20)(265)
Current year prior service cost (credit)(2,088)— 6 6 
Amortization of prior service cost(51)(16)(1)(17)
Net settlement and curtailment (34)62 (5)57 
Separation of Carrier and Otis(763)— — — 
Other (1)
81 36 (2)34 
Total recognized in other comprehensive (income) loss(3,037)271 97 368 
Net recognized in net periodic benefit (income) cost and other comprehensive (income) loss$(3,466)$(232)$97 $(135)
(1)    The amount included in Other primarily reflects the impact of foreign exchange translation, primarily for plans in the U.K. and Canada.
Defined Benefit Plan, Assumptions [Table Text Block]
Major assumptions used in determining the pension benefit obligation and net periodic pension benefit (income) expense are presented in the following table as weighted-averages: 
Benefit ObligationNet Periodic Benefit (Income) Expense
20202019202020192018
Discount rate
PBO2.5 %3.1 %3.2 %4.0 %3.5 %
Interest cost (1)
N/AN/A2.8 %3.7 %3.1 %
Service cost (1)
N/AN/A3.5 %3.7 %3.4 %
Salary scale4.3 %4.3 %4.3 %4.3 %4.3 %
Expected return on plan assetsN/AN/A6.5 %6.8 %6.9 %
Interest crediting rate3.8 %3.8 %3.8 %3.8 %3.8 %
(1)    The discount rates used to measure the service cost and interest cost applies to our significant plans. The PBO discount rate is used for the service cost and interest cost measurements for non-significant plans.
Schedule of Allocation of Plan Assets [Table Text Block]
The fair values of pension plan assets at December 31, 2020 and 2019 by asset category are as follows:
(dollars in millions)Quoted Prices in
Active Markets
For Identical Assets
(Level 1)		Significant
Observable 
Inputs
(Level 2)		Significant
Unobservable 
Inputs
(Level 3)
Not Subject to Leveling(8)
Total
Asset Category:
Public Equities
Global Equities$8,437 $5 $— $— $8,442 
Global Equity Commingled Funds (1)
1 2,686 — — 2,687 
Enhanced Global Equities (2)
56 185 — — 241 
Other Public Equities— — — 9,008 9,008 
Private Equities (3)
— — — 3,646 3,646 
Fixed Income Securities
Governments1,740 1,480 — — 3,220 
Corporate Bonds3 18,489 2 305 18,799 
Structured Products
— 24 — — 24 
Other Fixed Income— — — 6,631 6,631 
Real Estate (4)
— — 1,647 1,737 3,384 
Other (5)
— 99 — 5,088 5,187 
Cash & Cash Equivalents (6)
9 97 — 154 260 
Subtotal$10,246 $23,065 $1,649 $26,569 61,529 
Other Assets & Liabilities (7)
   789 
Total at December 31, 2020
$62,318 
Public Equities
Global Equities$3,588 $5 $— $— $3,593 
Global Equity Commingled Funds (1)
— 1,496 — — 1,496 
Enhanced Global Equities (2)
322 393 — — 715 
Other Public Equities— — — 5,332 5,332 
Private Equities (3)
— — 202 1,230 1,432 
Fixed Income Securities
Governments969 116 — — 1,085 
Corporate Bonds1 13,059 5 — 13,065 
Structured Products
— 17 — — 17 
Other Fixed Income— — — 4,755 4,755 
Real Estate (4)
— 13 1,464 366 1,843 
Other (5)
— 343 — 2,834 3,177 
Cash & Cash Equivalents (6)
— 47 — 36 83 
Subtotal$4,880 $15,489 $1,671 $14,553 $36,593 
Other Assets & Liabilities (7)
   (368)
Total at December 31, 2019
$36,225 
(1)    Represents commingled funds that invest primarily in common stocks.
(2)    Represents enhanced equity separate account and commingled fund portfolios. A portion of the portfolio may include long-short market neutral and relative value strategies that invest in publicly traded, equity and fixed income securities, as well as derivatives of equity and fixed income securities and foreign currency.
(3)    Represents limited partnership investments with general partners that primarily invest in equity and debt.
(4)    Represents investments in real estate including commingled funds and directly held properties.
(5)    Represents global balanced risk commingled funds that invest in multiple asset classes including equity, fixed income and some commodities. “Other” also includes insurance contracts.
(6)    Represents short-term commercial paper, bonds and other cash or cash-like instruments.
(7)    Represents receivables, payables and certain individually immaterial international plan assets that are not leveled.
(8)    In accordance with ASU 2015-07, Fair Value Measurement (Topic 820), certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented for the total pension benefits plan assets.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]
The fair value measurement of plan assets using significant unobservable inputs (Level 3) changed due to the following:
(dollars in millions)Private EquitiesCorporate BondsReal EstateTotal
Balance, December 31, 2018
$133 $18 $1,387 $1,538 
Realized losses— — (2)(2)
Unrealized gains relating to instruments still held in the reporting period32 — 27 59 
Purchases, sales, and settlements, net37 (13)52 76 
Balance, December 31, 2019
202 5 1,464 1,671 
Realized gains — — 7 7 
Unrealized gains relating to instruments still held in the reporting period16 — (129)(113)
Purchases, sales, and settlements, net10 (3)77 84 
Transfers in/out, net(228)— 228 — 
Balance, December 31, 2020
$— $2 $1,647 $1,649 
Other Postretirement Benefits Plan [Member]  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Net Benefit Costs [Table Text Block]
The components of the net periodic PRB (income) expense are as follows:
(dollars in millions)202020192018
Operating expense
Service cost$6 $2 $2 
Non-operating expense
Interest cost37 31 26 
Expected return on plan assets(13)(1)— 
Amortization of prior service credit(3)(42)(6)
Recognized actuarial net gain(12)(12)(10)
Net settlement, curtailment and special termination benefits loss1 — — 
Non-service pension (income) expense10 (24)10 
Net periodic PRB (income) expense$16 $(22)$12 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
Other changes in PRB assets and benefit obligations recognized in other comprehensive loss in 2020 and 2019 are as follows: 
(dollars in millions)20202019
Actuarial (gain) loss arising during the period$47 $(10)
Amortization of actuarial gain12 12 
Current year prior service cost (credit)(7)— 
Amortization of prior service credit3 42 
Net settlement and curtailment (1)— 
Other5 2 
Total recognized in other comprehensive loss59 46 
Net recognized in net periodic benefit (income) cost and other comprehensive loss$75 $24 
Defined Benefit Plan, Assumptions [Table Text Block]
Major assumptions used in determining the PRB benefit obligation and net periodic PRB (income) expense are presented in the following table as weighted-averages: 
 Benefit ObligationNet Periodic Benefit (Income) Expense
20202019202020192018
Discount rate2.4 %3.0 %3.1 %4.0 %3.4 %
Expected return on assetsN/AN/A5.7 %7.0 %7.0 %
Assumed health care cost trend rates used in determining the PRB benefit obligation and net periodic PRB (income) expense are as follows:
20202019
Health care cost trend rate assumed for next year5.0 %6.5 %
Rate that the cost trend rate gradually declines to4.3 %5.0 %
Year that the rate reaches the rate it is assumed to remain at20262026