COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2018

Retirement Benefits [Abstract]

Net Periodic Benefit Cost for Pension and Postretirement Benefit Plans

Information about net periodic benefit cost for the company-sponsored pension and postretirement defined benefit plans is as follows (in millions):

	U.S. Pension Benefits									U.S. Postretirement Medical Benefits									International Pension Benefits
	2018			2017			2016			2018			2017			2016			2018			2017			2016
Net Periodic Benefit Cost:
Service cost	$	1,661		$	1,543		$	1,412		$	29		$	29		$	28		$	62		$	60		$	49
Interest cost	1,799			1,813			1,828			104			112			124			45			40			41
Expected return on assets	(3,201		)	(2,883		)	(2,516		)	(8		)	(7		)	(6		)	(77		)	(66		)	(58		)
Amortization of prior service cost	193			192			166			7			7			5			1			1			1
Actuarial (gain) loss	1,603			729			2,520			—			53			17			24			18			114
Curtailment and settlement loss	—			—			—			—			—			—			—			2			—
Net periodic benefit cost	$	2,055		$	1,394		$	3,410		$	132		$	194		$	168		$	55		$	55		$	147

Weighted Average Actuarial Assumptions Used Disclosure

The table below provides the weighted-average actuarial assumptions used to determine the net periodic benefit cost.

	U.S. Pension Benefits						U.S. Postretirement Medical Benefits						International Pension Benefits
	2018		2017		2016		2018		2017		2016		2018		2017		2016
Discount rate	3.84	%	4.41	%	4.86	%	3.82	%	4.23	%	4.79	%	2.78	%	2.75	%	3.51	%
Rate of compensation increase	4.25	%	4.27	%	4.29	%	N/A		N/A		N/A		3.22	%	3.17	%	3.04	%
Expected return on assets	7.75	%	8.75	%	8.75	%	7.20	%	8.75	%	8.75	%	5.76	%	5.65	%	5.73	%
Cash balance interest credit rate	2.50	%	2.91	%	3.36	%	N/A		N/A		N/A		3.07	%	2.65	%	3.00	%

The table below provides the weighted-average actuarial assumptions used to determine the benefit obligations of our plans.

	U.S. Pension Benefits				U.S. Postretirement Medical Benefits				International Pension Benefits
	2018		2017		2018		2017		2018		2017
Discount rate	4.50	%	3.84	%	4.51	%	3.82	%	2.94	%	2.78	%
Rate of compensation increase	4.25	%	4.25	%	N/A		N/A		3.24	%	3.23	%
Cash balance interest credit rate	2.98	%	2.50	%	N/A		N/A		3.17	%	3.07	%

Reconciliation of the Changes in the Plans' Benefit Obligations and Fair Value of Plan Assets

The following table provides a reconciliation of the changes in the plans’ benefit obligations and fair value of plan assets as of the respective measurement dates in each year (in millions).

	U.S. Pension Benefits						U.S. Postretirement Medical Benefits						International Pension Benefits
	2018			2017			2018			2017			2018			2017
Benefit Obligations:
Projected benefit obligation at beginning of year	$	45,847		$	41,069		$	2,792		$	2,730		$	1,651		$	1,425
Service cost	1,661			1,543			29			29			62			60
Interest cost	1,799			1,813			104			112			45			40
Gross benefits paid	(1,390		)	(1,309		)	(263		)	(264		)	(33		)	(32		)
Plan participants’ contributions	—			—			26			26			3			3
Plan amendments(1)	331			—			—			—			13			—
Actuarial (gain)/loss	(2,915		)	4,256			(178		)	159			(81		)	26
Foreign currency exchange rate changes	—			—			—			—			(110		)	129
Curtailments and settlements	—			(1,525		)	—			—			(1		)	(3		)
Other	—			—			—			—			3			3
Projected benefit obligation at end of year	$	45,333		$	45,847		$	2,510		$	2,792		$	1,552		$	1,651
(1) Resulting from a new Teamster national master agreement.
	U.S. Pension Benefits						U.S. Postretirement Medical Benefits						International Pension Benefits
	2018			2017			2018			2017			2018			2017
Fair Value of Plan Assets:
Fair value of plan assets at beginning of year	$	41,932		$	31,215		$	183		$	15		$	1,333		$	1,092
Actual return on plan assets	(1,007		)	4,717			(7		)	(2		)	(6		)	96
Employer contributions	19			7,309			87			408			80			77
Plan participants’ contributions	—			—			26			26			3			3
Gross benefits paid	(1,390		)	(1,309		)	(263		)	(264		)	(33		)	(32		)
Foreign currency exchange rate changes	—			—			—			—			(92		)	100
Curtailments and settlements	—			—			—			—			(1		)	(3		)
Fair value of plan assets at end of year	$	39,554		$	41,932		$	26		$	183		$	1,284		$	1,333

Funded Status as of the Respective Measurement Dates in Each Year and the Amounts Recognized in Balance Sheet

The following table discloses the funded status of our plans and the amounts recognized in our consolidated balance sheets as of December 31st (in millions):

	U.S. Pension Benefits						U.S. Postretirement Medical Benefits						International Pension Benefits
	2018			2017			2018			2017			2018			2017
Funded Status:
Fair value of plan assets	$	39,554		$	41,932		$	26		$	183		$	1,284		$	1,333
Benefit obligation	(45,333		)	(45,847		)	(2,510		)	(2,792		)	(1,552		)	(1,651		)
Funded status recognized at December 31	$	(5,779	)	$	(3,915	)	$	(2,484	)	$	(2,609	)	$	(268	)	$	(318	)
Funded Status Recognized in our Balance Sheet:
Other non-current assets	$	—		$	284		$	—		$	—		$	35		$	35
Other current liabilities	(20		)	(18		)	(195		)	(77		)	(4		)	(5		)
Pension and postretirement benefit obligations	(5,759		)	(4,181		)	(2,289		)	(2,532		)	(299		)	(348		)
Net liability at December 31	$	(5,779	)	$	(3,915	)	$	(2,484	)	$	(2,609	)	$	(268	)	$	(318	)
Amounts Recognized in AOCI:
Unrecognized net prior service cost	$	(1,018	)	$	(880	)	$	(21	)	$	(29	)	$	(14	)	$	(2	)
Unrecognized net actuarial gain (loss)	(3,967		)	(4,277		)	(32		)	(195		)	(100		)	(126		)
Gross unrecognized cost at December 31	(4,985		)	(5,157		)	(53		)	(224		)	(114		)	(128		)
Deferred tax assets (liabilities) at December 31	1,205			1,840			13			69			28			31
Net unrecognized cost at December 31	$	(3,780	)	$	(3,317	)	$	(40	)	$	(155	)	$	(86	)	$	(97	)

Projected Benefit Obligation, Accumulated Benefit Obligation, and Fair Value of Plan Assets for Pension Plans With an Accumulated Benefit Obligation in Excess of Plan Assets

At December 31, 2018 and 2017, the projected benefit obligation, the accumulated benefit obligation and the fair value of plan assets for pension plans with benefit obligations in excess of plan assets were as follows (in millions):

	Projected Benefit Obligation Exceeds the Fair Value of Plan Assets				Accumulated Benefit Obligation Exceeds the Fair Value of Plan Assets
	2018		2017		2018		2017
U.S. Pension Benefits:
Projected benefit obligation	$	45,333	$	37,113	$	45,333	$	37,113
Accumulated benefit obligation	44,284		35,538		44,284		35,538
Fair value of plan assets	39,554		32,914		39,554		32,914
International Pension Benefits:
Projected benefit obligation	$	630	$	1,138	$	630	$	647
Accumulated benefit obligation	539		992		539		549
Fair value of plan assets	339		798		339		342

Fair Values of U.S. Pension and Postretirement Benefit Plan Assets by Asset Category as Well as the Percentage That Each Category Comprises of Total Plan Assets and the Respective Target Allocations

The fair values of U.S. and international pension and postretirement benefit plan assets by asset category as of December 31, 2018 are presented below (in millions), as well as the percentage that each category comprises of our total plan assets and the respective target allocations.

	Total Assets(1)		Level 1		Level 2		Level 3		Percentage of Plan Assets		Target Allocation
Asset Category (U.S. Plans):
Cash and cash equivalents	$	157	$	108	$	49	$	—	0.4	%	1-5
Equity Securities:
U.S. Large Cap	5,276		2,155		3,121		—
U.S. Small Cap	542		386		156		—
Emerging Markets	1,859		1,436		423		—
Global Equity	2,320		2,056		264		—
International Equity	3,670		2,189		1,481		—
Total Equity Securities	13,667		8,222		5,445		—		34.5		25-55
Fixed Income Securities:
U.S. Government Securities	12,295		11,922		373		—
Corporate Bonds	4,303		—		4,301		2
Global Bonds	55		—		55		—
Municipal Bonds	16		—		16		—
Total Fixed Income Securities	16,669		11,922		4,745		2		42.1		35-55
Other Investments:
Hedge Funds	3,154		—		1,185		—		8.0		5-15
Private Equity	2,763		—		—		—		7.0		1-10
Private Debt	836		—		178		—		2.1		1-10
Real Estate	1,989		152		53		—		5.0		1-10
Structured Products(2)	138		—		138		—		0.4		1-5
Risk Parity Funds	207		—		—		—		0.5		1-10
Total U.S. Plan Assets	$	39,580	$	20,404	$	11,793	$	2	100.0	%
Asset Category (International Plans):
Cash and cash equivalents	$	45	$	4	$	41	—		3.5		1-10
Equity Securities:
Local Markets Equity	171		—		171		—
U.S. Equity	34		—		34		—
Emerging Markets	33		33		—		—
International / Global Equity	348		150		198		—
Total Equity Securities	586		183		403		—		45.6		30-60
Fixed Income Securities:
Local Government Bonds	102		24		78		—
Corporate Bonds	195		54		141		—
Global Bonds	27		27				—
Total Fixed Income Securities	324		105		219		—		25.2		25-45
Other Investments:
Real Estate	121		—		76		—		9.4		5-10
Other	208		—		191		4		16.3		1-20
Total International Plan Assets	$	1,284	$	292	$	930	$	4	100.0	%
Total Plan Assets	$	40,864	$	20,696	$	12,723	$	6

⁽¹⁾ Certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy but are included in the category totals.

⁽²⁾ Represent mortgage and asset-backed securities.

The fair values of U.S. and international pension and postretirement benefit plan assets by asset category as of December 31, 2017 are presented below (in millions), as well as the percentage that each category comprises of our total plan assets and the respective target allocations.

	Total Assets(1)		Level 1		Level 2		Level 3		Percentage of Plan Assets		Target Allocation
Asset Category (U.S. Plans):
Cash and cash equivalents(2)	$	5,725	$	5,292	$	433	$	—	13.6	%	0-5
Equity Securities:
U.S. Large Cap	5,924		3,121		2,803		—
U.S. Small Cap	591		421		170		—
Emerging Markets	2,101		1,669		432		—
Global Equity	2,817		2,400		417		—
International Equity	4,791		2,950		1,841		—
Total Equity Securities	16,224		10,561		5,663		—		38.5		35-55
Fixed Income Securities:
U.S. Government Securities	7,695		7,323		372		—
Corporate Bonds	3,865		—		3,857		8
Global Bonds	53		—		53		—
Municipal Bonds	21		—		21		—
Total Fixed Income Securities	11,634		7,323		4,303		8		27.6		25-35
Other Investments:
Hedge Funds	2,910		—		1,031		—		6.9		5-15
Private Equity	2,107		—		—		—		5.0		1-10
Private Debt	953		—		237		—		2.3		1-10
Real Estate	2,031		157		139		—		4.8		1-10
Structured Products(3)	172		—		172		—		0.4		0-5
Risk Parity Funds	359		—		—		—		0.9		1-10
Total U.S. Plan Assets	$	42,115	$	23,333	$	11,978	$	8	100.0	%
Asset Category (International Plans):
Cash and cash equivalents	$	78	$	43	$	35	—		5.8		0-10
Equity Securities:
Local Markets Equity	213		—		213		—
U.S. Equity	30		—		30		—
Emerging Markets	38		38		—		—
International / Global Equity	356		166		190		—
Total Equity Securities	637		204		433		—		47.7		30-60
Fixed Income Securities:
Local Government Bonds	103		25		78		—
Corporate Bonds	198		59		139		—
Total Fixed Income Securities	301		84		217		—		22.6		25-50
Other Investments:
Real Estate	124		—		79		—		9.3		5-10
Other	193		—		184		—		14.6		0-20
Total International Plan Assets	$	1,333	$	331	$	948	$	—	100.0	%
Total Plan Assets	$	43,448	$	23,664	$	12,926	$	8

⁽¹⁾ Certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy but are included in the category totals.

⁽²⁾ Includes $5 billion in contributions made in December 2017 that had not yet been invested according to the targeted allocations.

⁽³⁾ Represents mortgage and asset-backed securities.

Fair Value Measurement of Plan Assets Using Significant Unobservable Inputs (Level 3)

The following table presents the changes in the Level 3 instruments measured on a recurring basis for the years ended December 31, 2018 and 2017 (in millions).

	Corporate Bonds			Other			Total
Balance on January 1, 2017	$	—		$	—		$	—
Actual Return on Assets:
Assets Held at End of Year	—			—			—
Assets Sold During the Year	—			—			—
Purchases	9			—			9
Sales	(1		)	—			(1		)
Transfers Into (Out of) Level 3	—			—			—
Balance on December 31, 2017	$	8		$	—		$	8
Actual Return on Assets:
Assets Held at End of Year	—			—			—
Assets Sold During the Year	(7		)	—			(7		)
Purchases	11			9			20
Sales	(10		)	(5		)	(15		)
Transfers Into (Out of) Level 3	—			—			—
Balance on December 31, 2018	$	2		$	4		$	6

Expected Cash Flows for Pension and Postretirement Benefit Plans

Information about expected cash flows for the pension and postretirement benefit plans is as follows (in millions):

	U.S. Pension Benefits		U.S. Postretirement Medical Benefits		International Pension Benefits
Expected Employer Contributions:
2019 to plan trusts	$	2,000	$	192	$	63
2019 to plan participants	20		74		5
Expected Benefit Payments:
2019	$	1,505	$	227	$	29
2020	1,652		233		32
2021	1,788		227		36
2022	1,930		218		41
2023	2,075		209		46
2024 - 2028	12,550		912		319

schedule of one basis point change in discount rate on the projected benefit obligation [Table Text Block]

As of December 31, 2018, the impact of each basis point change in the discount rate on the projected benefit obligation of the pension and postretirement medical benefit plans is as follows (in millions):

	Increase (Decrease) in the Projected Benefit Obligation
	Pension Benefits			Postretirement Medical Benefits
One basis point increase in discount rate	$	(69	)	$	(2	)
One basis point decrease in discount rate	73			2