XML 64 R42.htm IDEA: XBRL DOCUMENT v3.8.0.1
PENSION AND POSTRETIREMENT BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2017
Retirement Benefits [Abstract]  
Schedule Of Net Benefit Costs [Table Text Block]
The net periodic benefit cost/(credit) of defined benefit pension plans includes:
Dollars in Millions
 
2017
 
2016
 
2015
Service cost — benefits earned during the year
 
$
25

 
$
24

 
$
25

Interest cost on projected benefit obligation
 
188

 
192

 
242

Expected return on plan assets
 
(411
)
 
(418
)
 
(405
)
Amortization of prior service credits
 
(4
)
 
(3
)
 
(3
)
Amortization of net actuarial loss
 
82

 
84

 
91

Curtailments
 
(8
)
 

 
(1
)
Settlements
 
167

 
91

 
161

Special termination benefits
 
3

 
1

 

Net periodic benefit cost/(credit)
 
$
42

 
$
(29
)
 
$
110

Schedule Of Defined Benefit Obligations And Assets [Table Text Block]
Changes in defined benefit pension plan obligations, assets, funded status and amounts recognized in the consolidated balance sheets were as follows:
Dollars in Millions
 
2017
 
2016
Benefit obligations at beginning of year
 
$
6,440

 
$
6,418

Service cost—benefits earned during the year
 
25

 
24

Interest cost
 
188

 
192

Settlements
 
(330
)
 
(173
)
Actuarial (gains)/losses
 
368

 
253

Benefits paid
 
(121
)
 
(109
)
Foreign currency and other
 
179

 
(165
)
Benefit obligations at end of year
 
$
6,749

 
$
6,440

 
 
 
 
 
Fair value of plan assets at beginning of year
 
$
5,831

 
$
5,687

Actual return on plan assets
 
804

 
513

Employer contributions
 
396

 
81

Settlements
 
(330
)
 
(173
)
Benefits paid
 
(121
)
 
(109
)
Foreign currency and other
 
169

 
(168
)
Fair value of plan assets at end of year
 
$
6,749

 
$
5,831

 
 
 
 
 
Funded status
 
$

 
$
(609
)
 
 
 
 
 
Assets/(Liabilities) recognized:
 
 
 
 
Other assets
 
$
487

 
$
26

Accrued liabilities
 
(31
)
 
(35
)
Pension and other liabilities
 
(456
)
 
(600
)
Funded status
 
$

 
$
(609
)
 
 
 
 
 
Recognized in accumulated other comprehensive loss:
 
 
 
 
Net actuarial losses
 
$
2,849

 
$
3,123

Prior service credit
 
(36
)
 
(39
)
Total
 
$
2,813

 
$
3,084

Schedule Of Accumulated And Projected Benefit Obligation In Excess Of Fair Value Of Plan Assets [Table Text Block]
Additional information related to pension plans was as follows:
Dollars in Millions
 
2017
 
2016
Pension plans with projected benefit obligations in excess of plan assets:
 
 
 
 
Projected benefit obligation
 
$
1,166

 
$
6,195

Fair value of plan assets
 
678

 
5,559

Pension plans with accumulated benefit obligations in excess of plan assets:
 
 
 
 
Accumulated benefit obligation
 
$
1,008

 
$
5,978

Fair value of plan assets
 
550

 
5,380

Schedule Of Defined Benefit Actuarial Assumptions Benefit Obligations [Table Text Block]
Weighted-average assumptions used to determine defined benefit pension plan obligations at December 31 were as follows:
 
 
2017
 
2016
Discount rate
 
3.1
%
 
3.5
%
Rate of compensation increase
 
0.5
%
 
0.5
%
Schedule Of Defined Benefit Actuarial Assumptions Net Periodic Benefit Cost [Table Text Block]
Weighted-average actuarial assumptions used to determine defined benefit pension plan net periodic benefit (credit)/cost for the years ended December 31 were as follows:
 
 
2017
 
2016
 
2015
Discount rate
 
3.5
%
 
3.8
%
 
3.6
%
Expected long-term return on plan assets
 
7.0
%
 
7.2
%
 
7.2
%
Rate of compensation increase
 
0.5
%
 
0.5
%
 
0.8
%
Schedule Of Defined Benefit Historical Long Term Actual Returns [Table Text Block]
Historical long-term actual annualized returns for U.S. pension plans were as follows:
 
 
2017
 
2016
 
2015
10 years
 
6.8
%
 
6.1
%
 
6.7
%
15 years
 
9.3
%
 
7.1
%
 
6.0
%
20 years
 
7.5
%
 
7.7
%
 
8.1
%
Schedule Of Allocation Of Plan Assets [Table Text Block]
The fair value of pension and postretirement plan assets by asset category at December 31, 2017 and 2016 was as follows:
 
 
December 31, 2017
 
December 31, 2016
Dollars in Millions
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
Plan Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity securities
 
$
799

 
$

 
$

 
$
799

 
$
833

 
$

 
$

 
$
833

Equity funds
 
160

 
1,358

 

 
1,518

 
138

 
1,230

 

 
1,368

Fixed income funds
 

 
724

 

 
724

 

 
804

 

 
804

Corporate debt securities
 

 
1,919

 

 
1,919

 

 
1,405

 

 
1,405

U.S. Treasury and agency securities
 

 
729

 

 
729

 

 
536

 

 
536

Short-term investment funds
 

 
135

 

 
135

 

 
90

 

 
90

Insurance contracts
 

 

 
138

 
138

 

 

 
112

 
112

Cash and cash equivalents
 
214

 

 

 
214

 
81

 

 

 
81

Other
 

 
92

 
13

 
105

 

 
93

 

 
93

Plan assets subject to leveling
 
$
1,173

 
$
4,957

 
$
151

 
$
6,281

 
$
1,052

 
$
4,158

 
$
112

 
$
5,322

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Plan assets measured at NAV as a practical expedient
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity funds
 
 
 
 
 
 
 
$
488

 
 
 
 
 
 
 
$
476

Venture capital and limited partnerships
 
 
 
 
 
 
 
154

 
 
 
 
 
 
 
198

Other
 
 
 
 
 
 
 
191

 
 
 
 
 
 
 
166

Total plan assets measured at NAV as a practical expedient
 
 
 
 
 
833

 
 
 
 
 
 
 
840

Net plan assets
 
 
 
 
 
 
 
$
7,114

 
 
 
 
 
 
 
$
6,162