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Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Pension Plans  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Projected Benefit Obligations, Plan Assets and Funded Status of Pension Plans
The projected benefit obligations, plan assets and funded status of our pension plans were:
 
U.S. Plans
 
Non-U.S. Plans
 
2019
 
2018
 
2019
 
2018
 
(in millions)
Projected benefit obligation at January 1
$
1,511

 
$
1,762

 
$
9,578

 
$
10,852

Service cost
38

 
43

 
122

 
146

Interest cost
60

 
61

 
202

 
199

Benefits paid
(40
)
 
(29
)
 
(424
)
 
(462
)
Settlements paid
(73
)
 
(118
)
 
(1
)
 
(2
)
Actuarial (gains)/losses
251

 
(208
)
 
761

 
(640
)
Currency
—

 
—

 
207

 
(528
)
Other
1

 
—

 
13

 
13

Projected benefit obligation at December 31
1,748

 
1,511

 
10,458

 
9,578

Fair value of plan assets at January 1
1,510

 
1,717

 
8,465

 
9,327

Actual return on plan assets
334

 
(99
)
 
1,211

 
(243
)
Contributions
8

 
39

 
261

 
323

Benefits paid
(40
)
 
(29
)
 
(424
)
 
(462
)
Settlements paid
(73
)
 
(118
)
 
(1
)
 
(2
)
Currency
—

 
—

 
246

 
(478
)
Fair value of plan assets at December 31
1,739

 
1,510

 
9,758

 
8,465

Net pension (liabilities)/assets at December 31
$
(9
)
 
$
(1
)
 
$
(700
)
 
$
(1,113
)
Schedule of Pension Plans Resulted in Net Pension Liability
The combined U.S. and non-U.S. pension plans resulted in a net pension liability of $709 million at December 31, 2019 and $1,114 million at December 31, 2018. We recognized these amounts in our consolidated balance sheets as follows:
 
As of December 31,
 
2019
 
2018
 
(in millions)
Prepaid pension assets
$
516

 
$
132

Other current liabilities
(35
)
 
(25
)
Accrued pension costs
(1,190
)
 
(1,221
)
 
$
(709
)
 
$
(1,114
)
Schedule of Projected Benefit Obligations, Accumulated Benefit Obligations and Fair Value of Plan Assets
Certain of our U.S. and non-U.S. plans are underfunded with accumulated benefit obligations in excess of plan assets. For these plans, the projected benefit obligations, accumulated benefit obligations and the fair value of plan assets were:
 
U.S. Plans
 
Non-U.S. Plans
 
As of December 31,
 
As of December 31,
 
2019
 
2018
 
2019
 
2018
 
(in millions)
Projected benefit obligation
$
55

 
$
52

 
$
3,613

 
$
3,343

Accumulated benefit obligation
55

 
50

 
3,447

 
3,194

Fair value of plan assets
2

 
2

 
2,443

 
2,169
Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligations
We used the following weighted-average assumptions to determine our benefit obligations under the pension plans:
 
U.S. Plans
 
Non-U.S. Plans
 
As of December 31,
 
As of December 31,
 
2019
 
2018
 
2019
 
2018
Discount rate
3.44
%
 
4.40
%
 
1.74
%
 
2.45
%
Expected rate of return on plan assets
5.00
%
 
5.75
%
 
4.20
%
 
4.80
%
Rate of compensation increase
4.00
%
 
4.00
%
 
3.17
%
 
3.31
%

We used the following weighted-average assumptions to determine our net periodic pension cost:
 
U.S. Plans
 
Non-U.S. Plans
 
For the Years Ended December 31,
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
Discount rate
4.40
%
 
3.68
%
 
4.19
%
 
2.45
%
 
2.20
%
 
2.31
%
Expected rate of return
on plan assets
5.75
%
 
5.50
%
 
6.25
%
 
4.80
%
 
4.90
%
 
5.14
%
Rate of compensation increase
4.00
%
 
4.00
%
 
4.00
%
 
3.31
%
 
3.31
%
 
3.29
%
Schedule of Components of Net Costs
Net periodic pension cost consisted of the following:
 
U.S. Plans
 
Non-U.S. Plans
 
For the Years Ended December 31,
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
 
(in millions)
Service cost
$
38

 
$
43

 
$
46

 
$
122

 
$
146

 
$
156

Interest cost
60

 
61

 
62

 
202

 
199

 
199

Expected return on plan assets
(88
)
 
(88
)
 
(101
)
 
(404
)
 
(448
)
 
(434
)
Amortization:
 
 
 
 
 
 
 
 
 
 
 
Net loss from experience differences
30

 
32

 
37

 
148

 
163

 
167

Prior service cost/(benefit)
1

 
2

 
2

 
(6
)
 
(2
)
 
(3
)
Settlement losses and other expenses (1)
16

 
35

 
35

 
(3
)
 
5

 
6

Net periodic pension cost
$
57

 
$
85

 
$
81

 
$
59

 
$
63

 
$
91

 
(1)
Settlement losses of $5 million in 2019, $5 million in 2018 and $11 million in 2017 were incurred in connection with our Simplify to Grow Program. See Note 8, Restructuring Program, for more information. Net settlement losses of $12 million for our U.S. plans and settlement gains of $4 million for our non-U.S. plans in 2019, and settlement losses of $31 million for our U.S. plans and $4 million for our non-U.S. plans in 2018 and $21 million for our U.S. plans and $6 million for our non-U.S. plans in 2017 related to lump-sum payment elections made by retired employees.
Schedule of Changes in Level 3 Plan Assets
Changes in our Level 3 plan assets, which are recorded in other comprehensive earnings/(losses), included:
Asset Category
 
January 1,
2019
Balance
 
Net Realized
and Unrealized
Gains/
(Losses)
 
Net Purchases,
Issuances and
Settlements
 
Net Transfers
Into/(Out of)
Level 3
 
Currency
Impact
 
December 31,
2019
Balance
 
 
(in millions)
Corporate bond and other
   fixed-income securities
 
$
1,032

 
$
8

 
$
727

 
$
—

 
$
69

 
$
1,836

Real estate
 
22

 
36

 
3

 
—

 
1

 
62

Private equity and other
 
3

 
1

 
—

 
—

 
—

 
4

Total Level 3 investments
 
$
1,057

 
$
45

 
$
730

 
$
—

 
$
70

 
$
1,902

 
 
 
 
 
 
 
 
 
 
 
 
 
Asset Category
 
January 1,
2018
Balance
 
Net Realized
and Unrealized
Gains/
(Losses)
 
Net Purchases,
Issuances and
Settlements
 
Net Transfers
Into/(Out of)
Level 3
 
Currency
Impact
 
December 31,
2018
Balance
 
 
(in millions)
Corporate bond and other
   fixed-income securities
 
$
790

 
$
62

 
$
236

 
$
—

 
$
(56
)
 
$
1,032

Real estate
 
23

 
1

 
(1
)
 
—

 
(1
)
 
22

Private equity and other
 
3

 
—

 
—

 
—

 
—

 
3

Total Level 3 investments
 
$
816

 
$
63

 
$
235

 
$
—

 
$
(57
)
 
$
1,057
Schedule of Fair Values of Pension Plan Assets
The percentage of fair value of pension plan assets was:
 
 
U.S. Plans
 
Non-U.S. Plans
 
 
As of December 31,
 
As of December 31,
Asset Category
 
2019
 
2018
 
2019
 
2018
Equity securities
 
15
%
 
15
%
 
26
%
 
26
%
Fixed-income securities
 
85
%
 
85
%
 
54
%
 
59
%
Real estate
 
—

 
—

 
6
%
 
6
%
Hedge funds
 
—

 
—

 
1
%
 
2
%
Buy-in annuity policies
 
—

 
—

 
12
%
 
6
%
Cash
 
—

 
—

 
1
%
 
1
%
Total
 
100
%
 
100
%
 
100
%
 
100
%

The fair value of pension plan assets was determined using the following fair value measurements:
 
 
As of December 31, 2019
Asset Category
 
Total Fair
Value
 
Quoted Prices
in Active Markets
for Identical
Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
 
(in millions)
U.S. equity securities
 
$
2

 
$
2

 
$
—

 
$
—

Non-U.S. equity securities
 
2

 
2

 
—

 
—

Pooled funds - equity securities
 
2,186

 
890

 
1,296

 
—

Total equity securities
 
2,190

 
894

 
1,296

 
—

Government bonds
 
3,328

 
53

 
3,275

 
—

Pooled funds - fixed-income securities
 
575

 
417

 
158

 
—

Corporate bonds and other
   fixed-income securities
 
2,727

 
66

 
825

 
1,836

Total fixed-income securities
 
6,630

 
536

 
4,258

 
1,836

Real estate
 
186

 
124

 
—

 
62

Private equity
 
3

 
—

 
—

 
3

Cash
 
122

 
117

 
5

 
—

Other
 
2

 
1

 
—

 
1

Total assets in the fair value hierarchy
 
$
9,133

 
$
1,672

 
$
5,559

 
$
1,902

Investments measured at net asset value
 
2,297

 
 
 
 
 
 
Total investments at fair value
 
$
11,430

 
 
 
 
 
 
 
 
As of December 31, 2018
Asset Category
 
Total Fair
Value
 
Quoted Prices
in Active Markets
for Identical
Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
 
(in millions)
U.S. equity securities
 
$
2

 
$
2

 
$
—

 
$
—

Non-U.S. equity securities
 
5

 
5

 
—

 
—

Pooled funds - equity securities
 
1,951

 
743

 
1,208

 
—

Total equity securities
 
1,958

 
750

 
1,208

 
—

Government bonds
 
3,156

 
62

 
3,094

 
—

Pooled funds - fixed-income securities
 
573

 
429

 
144

 
—

Corporate bonds and other
   fixed-income securities
 
2,050

 
87

 
931

 
1,032

Total fixed-income securities
 
5,779

 
578

 
4,169

 
1,032

Real estate
 
130

 
108

 
—

 
22

Private equity
 
2

 
—

 
—

 
2

Cash
 
44

 
32

 
12

 
—

Other
 
2

 
1

 
—

 
1

Total assets in the fair value hierarchy
 
$
7,915

 
$
1,469

 
$
5,389

 
$
1,057

Investments measured at net asset value
 
1,993

 
 
 
 
 
 
Total investments at fair value
 
$
9,908

 
 
 
 
 
 
Schedule of Estimated Future Benefit Payments
The estimated future benefit payments from our pension plans at December 31, 2019 were (in millions):
 
2020
 
2021
 
2022
 
2023
 
2024
 
2025-2029
U.S. Plans
$
167

 
$
102

 
$
105

 
$
105

 
$
108

 
$
513

Non-U.S. Plans
380

 
376

 
385

 
395

 
403

 
2,126
Postretirement Health Care Plan  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligations
We used the following weighted-average assumptions to determine our net periodic postretirement health care cost:
 
U.S. Plans
 
Non-U.S. Plans
 
For the Years Ended December 31,
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
Discount rate
4.37%
 
3.66%
 
4.14%
 
4.40%
 
4.24%
 
4.55%
Health care cost trend rate
6.25%
 
6.25%
 
6.50%
 
5.44%
 
5.56%
 
5.50%
Schedule of Components of Net Costs
Net periodic postretirement health care costs consisted of the following:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
 
(in millions)
Service cost
$
5

 
$
6

 
$
7

Interest cost
15

 
14

 
15

Amortization:
 
 
 
 
 
Net loss from experience differences
6

 
15

 
14

Prior service credit
(38
)
 
(39
)
 
(40
)
Net periodic postretirement health care costs/(benefit)
$
(12
)
 
$
(4
)
 
$
(4
)
Schedule of Estimated Future Benefit Payments
Our estimated future benefit payments for our postretirement health care plans at December 31, 2019 were (in millions):
 
2020
 
2021
 
2022
 
2023
 
2024
 
2025-2029
U.S. Plans
$
11

 
$
12

 
$
13

 
$
14

 
$
15

 
$
74

Non-U.S. Plans
5

 
5

 
5

 
6

 
6

 
32
Schedule of Changes in Accumulated Postemployment Benefit Obligations
Our postretirement health care plans are not funded. The changes in and the amount of the accrued benefit obligation were:
 
As of December 31,
 
2019
 
2018
 
(in millions)
Accrued benefit obligation at January 1
$
366

 
$
435

Service cost
5

 
6

Interest cost
15

 
15

Benefits paid
(16
)
 
(19
)
Currency
5

 
(11
)
Assumption changes
34

 
(39
)
Actuarial losses/(gains)
(6
)
 
(21
)
Accrued benefit obligation at December 31
$
403

 
$
366
Schedule of Weighted-Average Assumptions to Determine Benefit Obligations
We used the following weighted-average assumptions to determine our postretirement benefit obligations:
 
U.S. Plans
 
Non-U.S. Plans
 
As of December 31,
 
As of December 31,
 
2019
 
2018
 
2019
 
2018
Discount rate
3.41
%
 
4.37
%
 
3.86
%
 
4.40
%
Health care cost trend rate assumed for next year
6.00
%
 
6.25
%
 
5.42
%
 
5.44
%
Ultimate trend rate
5.00
%
 
5.00
%
 
5.42
%
 
5.44
%
Year that the rate reaches the ultimate trend rate
2024

 
2024

 
2019

 
2018
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates A one-percentage-point change in assumed health care cost trend rates would have the following effects:
 
As of December 31, 2019
 
One-Percentage-Point
 
Increase
 
Decrease
 
(in millions)
Effect on postretirement benefit obligation
$
39

 
$
(33
)
Effect on annual service and interest cost
3

 
(2
)
Postemployment Benefit Plans  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Components of Net Costs
Our postemployment plans are not funded. The changes in and the amount of the accrued benefit obligation at December 31, 2019 and 2018 were:
 
As of December 31,
 
2019
 
2018
 
(in millions)
Accrued benefit obligation at January 1
$
74

 
$
76

Service cost
6

 
6

Interest cost
5

 
4

Benefits paid
(9
)
 
(7
)
Assumption changes
3

 
(1
)
Actuarial losses/(gains)
(13
)
 
(4
)
Accrued benefit obligation at December 31
$
66

 
$
74
Schedule of Changes in Accumulated Postemployment Benefit Obligations
Net periodic postemployment costs consisted of the following:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
 
(in millions)
Service cost
$
6

 
$
6

 
$
5

Interest cost
5

 
4

 
4

Amortization of net gains
(4
)
 
(3
)
 
(3
)
Net periodic postemployment costs
$
7

 
$
7

 
$
6