XML 30 R55.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pensions And Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2012
Plan Contributions [Abstract]  
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]
The following table summarizes estimated amounts to be amortized from Accumulated other comprehensive loss into net periodic benefit cost in the year ended 2013 based on December 31, 2012 plan measurements (dollars in millions):
 
U.S. Pension Plans
 
Non-U.S. Pension Plans
 
U.S. Other Benefit Plans
 
Non-U.S. Other Benefit Plans
Amortization of prior service (credit) cost
$
(4
)
 
$
20

 
$
(116
)
 
$
(15
)
Amortization of net actuarial loss (gain)
6

 
206

 
91

 
7

 
$
2

 
$
226

 
$
(25
)
 
$
(8
)
Schedule of pension contributions to the defined benefit pension plans [Table Text Block]
The following table summarizes contributions made to the defined benefit pension plans or direct payments to plan beneficiaries (dollars in millions):
 
Years Ended December 31,
 
2012
 
2011
 
2010
U.S. hourly and salaried
$
2,420

 
$
1,962

 
$
4,095

Non-U.S.
855

 
836

 
777

Total
$
3,275

 
$
2,798

 
$
4,872
Contributions to the U.S. OPEB Plans [Table Text Block]

The following table summarizes contributions to the U.S. OPEB plans (dollars in millions):
 
Years Ended December 31,
 
2012
 
2011
 
2010
Employer contributions
$
432

 
$
426

 
$
651

Plan participants' contributions
4

 
13

 
53

Total contributions
$
436

 
$
439

 
$
704
Contributions to defined contribution plans [Table Text Block]
The following table summarizes our contributions to defined contribution plans (dollars in millions):
 
Years Ended December 31,
 
2012
 
2011
 
2010
Total contributions
$
352

 
$
297

 
$
241
Pension and OPEB Obligations and Plan Assets [Table Text Block]

The following tables summarize the change in benefit obligations and related plan assets (dollars in millions):
 
Year Ended December 31, 2012
 
Pension Benefits
 
Other Benefits
 
U.S. Plans
 
Non-U.S. Plans
 
U.S. Plans
 
Non-U.S. Plans
Change in benefit obligations
 
 
 
 
 
 
 
Beginning benefit obligation
$
108,562

 
$
25,765

 
$
5,822

 
$
1,490

Service cost
452

 
383

 
23

 
16

Interest cost
4,055

 
1,110

 
234

 
63

Plan participants' contributions
—

 
7

 
4

 
1

Amendments
(32
)
 
139

 
—

 
(52
)
Actuarial losses
8,432

 
2,774

 
622

 
13

Benefits paid
(8,422
)
 
(1,551
)
 
(436
)
 
(55
)
Foreign currency translation adjustments
—

 
682

 
—

 
30

Curtailments, settlements and other
(30,937
)
 
(8
)
 
2

 
22

Ending benefit obligation
82,110

 
29,301

 
6,271

 
1,528

Change in plan assets
 
 
 
 
 
 
 
Beginning fair value of plan assets
94,349

 
14,541

 
—

 
—

Actual return on plan assets
10,332

 
1,344

 
—

 
—

Employer contributions
2,420

 
855

 
432

 
54

Plan participants' contributions
—

 
7

 
4

 
1

Benefits paid
(8,422
)
 
(1,551
)
 
(436
)
 
(55
)
Foreign currency translation adjustments
—

 
389

 
—

 
—

Settlements
(30,629
)
 
(207
)
 
—

 
—

Other
35

 
163

 
—

 
—

Ending fair value of plan assets
68,085

 
15,541

 
—

 
—

Ending funded status
$
(14,025
)
 
$
(13,760
)
 
$
(6,271
)
 
$
(1,528
)
Amounts recorded in the consolidated balance sheets
 
 
 
 
 
 
 
Non-current assets
$
—

 
$
73

 
$
—

 
$
—

Current liabilities
(95
)
 
(343
)
 
(406
)
 
(84
)
Non-current liabilities
(13,930
)
 
(13,490
)
 
(5,865
)
 
(1,444
)
Net amount recorded
$
(14,025
)
 
$
(13,760
)
 
$
(6,271
)
 
$
(1,528
)
Amounts recorded in Accumulated other comprehensive loss
 
 
 
 
 
 
 
Net actuarial loss
$
(1,434
)
 
$
(4,786
)
 
$
(1,573
)
 
$
(188
)
Net prior service (cost) credit
42

 
(111
)
 
135

 
118

Total recorded in Accumulated other comprehensive loss
$
(1,392
)
 
$
(4,897
)
 
$
(1,438
)
 
$
(70
)

 
Year Ended December 31, 2011
 
Pension Benefits
 
Other Benefits
 
U.S. Plans
 
Non-U.S. Plans
 
U.S. Plans
 
Non-U.S. Plans
Change in benefit obligations
 
 
 
 
 
 
 
Beginning benefit obligation
$
103,395

 
$
24,762

 
$
5,667

 
$
4,252

Service cost
494

 
399

 
23

 
30

Interest cost
4,915

 
1,215

 
265

 
186

Plan participants' contributions
—

 
7

 
13

 
9

Amendments
(6
)
 
(10
)
 
(284
)
 
(2
)
Actuarial losses
8,494

 
1,530

 
548

 
343

Benefits paid
(8,730
)
 
(1,561
)
 
(439
)
 
(180
)
Early retirement reinsurance program receipts
—

 
—

 
29

 
—

Foreign currency translation adjustments
—

 
(508
)
 
—

 
(128
)
HCT settlement
—

 
—

 
—

 
(3,051
)
Curtailments, settlements, and other
—

 
(69
)
 
—

 
31

Ending benefit obligation
108,562

 
25,765

 
5,822

 
1,490

Change in plan assets
 
 
 
 
 
 
 
Beginning fair value of plan assets
91,007

 
14,903

 
—

 
—

Actual return on plan assets
10,087

 
686

 
—

 
—

Employer contributions
1,962

 
836

 
426

 
171

Plan participants' contributions
—

 
7

 
13

 
9

Benefits paid
(8,730
)
 
(1,561
)
 
(439
)
 
(180
)
Foreign currency translation adjustments
—

 
(258
)
 
—

 
—

Settlements
—

 
(34
)
 
—

 
—

Other
23

 
(38
)
 
—

 
—

Ending fair value of plan assets
94,349

 
14,541

 
—

 
—

Ending funded status
$
(14,213
)
 
$
(11,224
)
 
$
(5,822
)
 
$
(1,490
)
Amounts recorded in the consolidated balance sheets
 
 
 
 
 
 
 
Non-current assets
$
—

 
$
61

 
$
—

 
$
—

Current liabilities
(99
)
 
(324
)
 
(411
)
 
(65
)
Non-current liabilities
(14,114
)
 
(10,961
)
 
(5,411
)
 
(1,425
)
Net amount recorded
$
(14,213
)
 
$
(11,224
)
 
$
(5,822
)
 
$
(1,490
)
Amounts recorded in Accumulated other comprehensive loss
 
 
 
 
 
 
 
Net actuarial loss
$
(1,352
)
 
$
(2,498
)
 
$
(1,003
)
 
$
(177
)
Net prior service credit
15

 
19

 
251

 
76

Total recorded in Accumulated other comprehensive loss
$
(1,337
)
 
$
(2,479
)
 
$
(752
)
 
$
(101
)
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
The following table summarizes the total accumulated benefit obligations (ABO), the fair value of plan assets for defined benefit pension plans with ABO in excess of plan assets, and the projected benefit obligation (PBO) and fair value of plan assets for defined benefit pension plans with PBO in excess of plan assets (dollars in millions):
 
December 31, 2012
 
December 31, 2011
 
U.S. Plans
 
Non-U.S. Plans
 
U.S. Plans
 
Non-U.S. Plans
ABO
$
82,103

 
$
28,880

 
$
108,195

 
$
25,404

Plans with ABO in excess of plan assets
 
 
 
 
 
 
 
ABO
$
82,103

 
$
28,156

 
$
108,195

 
$
24,687

Fair value of plan assets
$
68,085

 
$
14,702

 
$
94,349

 
$
13,738

Plans with PBO in excess of plan assets
 
 
 
 
 
 
 
PBO
$
82,110

 
$
28,537

 
$
108,562

 
$
25,024

Fair value of plan assets
$
68,085

 
$
14,704

 
$
94,349

 
$
13,739
Components of Net Periodic Pension and OPEB Expense with Assumptions [Table Text Block]

The following tables summarize the components of net periodic pension and OPEB expense along with the assumptions used to determine benefit obligations (dollars in millions):
 
Year Ended December 31, 2012
 
Pension Benefits
 
Other Benefits
 
U.S. Plans
 
Non-U.S. Plans
 
U.S. Plans
 
Non-U.S. Plans
Components of expense
 
 
 
 
 
 
 
Service cost
$
590

 
$
411

 
$
23

 
$
16

Interest cost
4,055

 
1,110

 
234

 
63

Expected return on plan assets
(5,029
)
 
(870
)
 
—

 
—

Amortization of prior service cost (credit)
(1
)
 
1

 
(116
)
 
(12
)
Recognized net actuarial loss
2

 
35

 
52

 
6

Curtailments, settlements and other losses
2,580

 
71

 
—

 
11

Net periodic pension and OPEB expense
$
2,197

 
$
758

 
$
193

 
$
84

 
 
 
 
 
 
 
 
Weighted-average assumptions used to determine benefit obligations
 
 
 
 
 
 
 
Discount rate
3.59
%
 
3.70
%
 
3.68
%
 
3.97
%
Rate of compensation increase(a)
N/A

 
2.77
%
 
4.50
%
 
4.21
%
Weighted-average assumptions used to determine net expense
 
 
 
 
 
 
 
Discount rate
4.06
%
 
4.45
%
 
4.24
%
 
4.31
%
Expected return on plan assets
6.18
%
 
6.20
%
 
N/A

 
N/A

Rate of compensation increase
4.50
%
 
3.15
%
 
4.50
%
 
4.21
%
_________
(a)
As a result of ceasing the accrual of additional benefits for participants in the Retiree Plan in 2012, the rate of compensation increase does not have a significant effect on our U.S. pension plans.

 
Year Ended December 31, 2011
 
Pension Benefits
 
Other Benefits
 
U.S. Plans
 
Non-U.S. Plans
 
U.S. Plans
 
Non-U.S. Plans
Components of expense
 
 
 
 
 
 
 
Service cost
$
632

 
$
399

 
$
23

 
$
30

Interest cost
4,915

 
1,215

 
265

 
186

Expected return on plan assets
(6,692
)
 
(925
)
 
—

 
—

Amortization of prior service credit
(2
)
 
(2
)
 
(39
)
 
(9
)
Recognized net actuarial loss
—

 
—

 
6

 
—

Curtailments, settlements and other gains
(23
)
 
(7
)
 
—

 
(749
)
Net periodic pension and OPEB (income) expense
$
(1,170
)
 
$
680

 
$
255

 
$
(542
)
 
 
 
 
 
 
 
 
Weighted-average assumptions used to determine benefit obligations
 
 
 
 
 
 
 
Discount rate
4.15
%
 
4.50
%
 
4.24
%
 
4.37
%
Rate of compensation increase
4.50
%
 
3.11
%
 
4.50
%
 
4.20
%
Weighted-average assumptions used to determine net expense
 
 
 
 
 
 
 
Discount rate
4.96
%
 
5.16
%
 
5.05
%
 
5.01
%
Expected return on plan assets
8.00
%
 
6.50
%
 
N/A

 
N/A

Rate of compensation increase
3.96
%
 
3.25
%
 
4.50
%
 
4.42
%

 
Year Ended December 31, 2010
 
Pension Benefits
 
Other Benefits
 
U.S. Plans
 
Non-U.S. Plans
 
U.S. Plans
 
Non-U.S. Plans
Components of expense
 
 
 
 
 
 
 
Service cost
$
548

 
$
386

 
$
21

 
$
32

Interest cost
5,275

 
1,187

 
288

 
200

Expected return on plan assets
(6,611
)
 
(987
)
 
—

 
—

Amortization of prior service cost (credit)
(1
)
 
(1
)
 
3

 
(9
)
Recognized net actuarial loss
—

 
21

 
—

 
—

Curtailments, settlements, and other losses
—

 
60

 
—

 
—

Net periodic pension and OPEB (income) expense
$
(789
)
 
$
666

 
$
312

 
$
223

 
 
 
 
 
 
 
 
Weighted-average assumptions used to determine benefit obligations
 
 
 
 
 
 
 
Discount rate
4.96
%
 
5.09
%
 
5.07
%
 
4.97
%
Rate of compensation increase
3.96
%
 
3.25
%
 
1.41
%
 
4.33
%
Weighted-average assumptions used to determine net expense
 
 
 
 
 
 
 
Discount rate
5.36
%
 
5.19
%
 
5.57
%
 
5.22
%
Expected return on plan assets
8.48
%
 
7.42
%
 
8.50
%
 
N/A

Rate of compensation increase
3.94
%
 
3.25
%
 
1.48
%
 
4.45
%
Schedule of Health Care Cost Trend Rates [Table Text Block]
Healthcare Trend Rate

As a result of previous modifications made to healthcare plans, there are no significant uncapped U.S. healthcare plans remaining, therefore, the healthcare cost trend rate does not have a significant effect on our U.S. plans. The implementation of the HCT at October 31, 2011 eliminated significant exposure to changes in the healthcare cost trend rate for non-U.S. plans.
 
December 31, 2010
Assumed Healthcare Trend Rates
 
Initial healthcare cost trend rate
5.6%
Ultimate healthcare cost trend rate
3.4%
Number of years to ultimate trend rate
8
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]
Healthcare trend rate assumptions are determined for inclusion in healthcare OPEB valuation at each remeasurement. The healthcare trend rates are developed using historical cash expenditures and near-term outlook for retiree healthcare. This information is supplemented with information gathered from actuarial based models, information obtained from healthcare providers and known significant events.

The following table summarizes the effect of a one-percentage point change in the assumed healthcare trend rates for non-U.S. plans (dollars in millions):


Effect on 2011
Aggregate Service
and Interest Cost
 
Effect on
December 31, 2010
APBO
Change in Assumption
 
 
 
One percentage point increase
$
31

 
$
491

One percentage point decrease
$
(25
)
 
$
(392
)
Target Allocations by Asset Category [Table Text Block]
The following table summarizes the target allocations by asset category for U.S. and non-U.S. defined benefit pension plans:
 
December 31, 2012
 
December 31, 2011
 
U.S. Plans
 
Non-U.S. Plans
 
U.S. Plans
 
Non-U.S. Plans
Asset Categories
 
 
 
 
 
 
 
Equity
19
%
 
30
%
 
14
%
 
34
%
Debt
60
%
 
53
%
 
66
%
 
45
%
Alternatives(a)
21
%
 
17
%
 
20
%
 
21
%
Total
100
%
 
100
%
 
100
%
 
100
%

__________
(a)
Includes private equity, real estate and absolute return strategies which primarily consist of hedge funds.
Schedule of Allocation of Plan Assets [Table Text Block]
The following tables summarize the fair value of defined benefit pension plan assets by asset class (dollars in millions):
 
Fair Value Measurements of
U.S. Plan Assets at December 31, 2012
 
Fair Value Measurements of
Non-U.S. Plan Assets at December 31, 2012
 
Total U.S.
and Non-
U.S. Plan
Assets
Assets
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Cash equivalents and other short-term investments
$
—

 
$
551

 
$
—

 
$
551

 
$
—

 
$
151

 
$
—

 
$
151

 
$
702

Common and preferred stocks(a)
9,663

 
26

 
19

 
9,708

 
2,227

 
—

 
—

 
2,227

 
11,935

Government and agency debt securities(b)
—

 
17,835

 
—

 
17,835

 
—

 
3,722

 
—

 
3,722

 
21,557

Corporate debt securities(c)
—

 
19,116

 
77

 
19,193

 
—

 
2,596

 
2

 
2,598

 
21,791

Agency mortgage and asset-backed securities
—

 
1,544

 
—

 
1,544

 
—

 
38

 
—

 
38

 
1,582

Non-agency mortgage and asset-backed securities
—

 
260

 
105

 
365

 
—

 
16

 
3

 
19

 
384

Investment funds
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity funds
66

 
253

 
195

 
514

 
212

 
2,009

 
—

 
2,221

 
2,735

Fixed income funds
16

 
498

 
190

 
704

 
—

 
1,046

 
14

 
1,060

 
1,764

Funds of hedge funds
—

 
—

 
3,768

 
3,768

 
—

 
—

 
627

 
627

 
4,395

Global macro funds
—

 
111

 
11

 
122

 
—

 
—

 
—

 
—

 
122

Multi-strategy funds
—

 
583

 
727

 
1,310

 
—

 
26

 
—

 
26

 
1,336

Other investment funds(d)
—

 
143

 
68

 
211

 
—

 
9

 
—

 
9

 
220

Private equity and debt investments(e)
—

 
—

 
6,400

 
6,400

 
—

 
—

 
381

 
381

 
6,781

Real estate investments(f)
412

 
—

 
4,335

 
4,747

 
19

 
31

 
1,422

 
1,472

 
6,219

Other investments
—

 
—

 
63

 
63

 
—

 
—

 
665

 
665

 
728

Derivatives
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
15

 
1,553

 
—

 
1,568

 
—

 
—

 
—

 
—

 
1,568

Foreign currency exchange contracts
—

 
38

 
—

 
38

 
—

 
40

 
—

 
40

 
78

Equity contracts
6

 
86

 
1

 
93

 
2

 
—

 
—

 
2

 
95

Total assets
10,178

 
42,597

 
15,959

 
68,734

 
2,460

 
9,684

 
3,114

 
15,258

 
83,992

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Government and agency debt securities(g)
—

 
(15
)
 
—

 
(15
)
 
—

 
—

 
—

 
—

 
(15
)
Derivatives
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
(21
)
 
(977
)
 
(8
)
 
(1,006
)
 
(4
)
 
—

 
—

 
(4
)
 
(1,010
)
Foreign currency exchange contracts
—

 
(37
)
 
—

 
(37
)
 
—

 
(36
)
 
—

 
(36
)
 
(73
)
Equity contracts
(4
)
 
(86
)
 
(1
)
 
(91
)
 
(1
)
 
—

 
—

 
(1
)
 
(92
)
Total liabilities
(25
)
 
(1,115
)
 
(9
)
 
(1,149
)
 
(5
)
 
(36
)
 
—

 
(41
)
 
(1,190
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net plan assets subject to leveling
$
10,153

 
$
41,482

 
$
15,950

 
67,585

 
$
2,455

 
$
9,648

 
$
3,114

 
15,217

 
82,802

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other plan assets and liabilities(h)
 
 
 
 
 
 
500

 
 
 
 
 
 
 
324

 
824

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Plan Assets
 
 
 
 
 
 
$
68,085

 
 
 
 
 
 
 
$
15,541

 
$
83,626


 
Fair Value Measurements of
U.S. Plan Assets at December 31, 2011
 
Fair Value Measurements of
Non-U.S. Plan Assets at December 31, 2011
 
Total U.S.
and Non-
U.S. Plan
Assets
Assets
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Cash equivalents and other short-term investments
$
—

 
$
100

 
$
—

 
$
100

 
$
—

 
$
533

 
$
—

 
$
533

 
$
633

Common and preferred stocks(a)
11,134

 
78

 
46

 
11,258

 
2,109

 
2

 
—

 
2,111

 
13,369

Government and agency debt securities(b)
—

 
21,531

 
3

 
21,534

 
—

 
3,613

 
1

 
3,614

 
25,148

Corporate debt securities(c)
—

 
22,725

 
352

 
23,077

 
—

 
1,820

 
4

 
1,824

 
24,901

Agency mortgage and asset-backed securities
—

 
1,847

 
—

 
1,847

 
—

 
94

 
—

 
94

 
1,941

Non-agency mortgage and asset-backed securities
—

 
1,399

 
197

 
1,596

 
—

 
49

 
4

 
53

 
1,649

Group annuity contracts
—

 
—

 
3,209

 
3,209

 
—

 
—

 
—

 
—

 
3,209

Investment funds
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity funds
23

 
852

 
521

 
1,396

 
—

 
1,837

 
146

 
1,983

 
3,379

Fixed income funds
—

 
1,092

 
1,210

 
2,302

 
—

 
1,142

 
20

 
1,162

 
3,464

Funds of hedge funds
—

 
—

 
5,918

 
5,918

 
—

 
—

 
585

 
585

 
6,503

Global macro funds
—

 
266

 
4

 
270

 
—

 
—

 
236

 
236

 
506

Multi-strategy funds
24

 
949

 
2,123

 
3,096

 
—

 
24

 
—

 
24

 
3,120

Other investment funds(d)
—

 
335

 
143

 
478

 
—

 
—

 
11

 
11

 
489

Private equity and debt investments(e)
—

 
—

 
8,444

 
8,444

 
—

 
—

 
298

 
298

 
8,742

Real estate investments(f)
1,279

 
—

 
5,092

 
6,371

 
13

 
27

 
1,345

 
1,385

 
7,756

Other investments
—

 
—

 
—

 
—

 
—

 
—

 
428

 
428

 
428

Derivatives
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
138

 
4,180

 
9

 
4,327

 
4

 
—

 
—

 
4

 
4,331

Foreign currency exchange contracts
—

 
152

 
—

 
152

 
—

 
59

 
—

 
59

 
211

Equity contracts
61

 
15

 
—

 
76

 
17

 
—

 
—

 
17

 
93

Credit contracts
—

 
79

 
—

 
79

 
—

 
—

 
—

 
—

 
79

Total assets
12,659

 
55,600

 
27,271

 
95,530

 
2,143

 
9,200

 
3,078

 
14,421

 
109,951

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency mortgage and asset-backed securities(g)
—

 
(67
)
 
—

 
(67
)
 
—

 
—

 
—

 
—

 
(67
)
Derivatives
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
(28
)
 
(1,752
)
 
(2
)
 
(1,782
)
 
(4
)
 
—

 
—

 
(4
)
 
(1,786
)
Foreign currency exchange contracts
—

 
(75
)
 
—

 
(75
)
 
—

 
(46
)
 
—

 
(46
)
 
(121
)
Equity contracts
(17
)
 
(14
)
 
—

 
(31
)
 
(3
)
 
—

 
—

 
(3
)
 
(34
)
Credit contracts
—

 
(29
)
 
(6
)
 
(35
)
 
—

 
—

 
—

 
—

 
(35
)
Total liabilities
(45
)
 
(1,937
)
 
(8
)
 
(1,990
)
 
(7
)
 
(46
)
 
—

 
(53
)
 
(2,043
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net plan assets subject to leveling
$
12,614

 
$
53,663

 
$
27,263

 
93,540

 
$
2,136

 
$
9,154

 
$
3,078

 
14,368

 
107,908

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other plan assets and liabilities(h)
 
 
 
 
 
 
809

 
 
 
 
 
 
 
173

 
982

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Plan Assets
 
 
 
 
 
 
$
94,349

 
 
 
 
 
 
 
$
14,541

 
$
108,890

__________
(a)
Includes GM common stock of $1.4 billion and $1.2 billion within Level 1 of U.S. plan assets at December 31, 2012 and 2011.
(b)
Includes U.S. and sovereign government and agency issues; excludes mortgage and asset-backed securities.
(c)
Includes bank debt obligations.
(d)
Primarily investments in alternative investment funds.
(e)
Includes private equity investment funds.
(f)
Includes investment funds and public real estate investment trusts.
(g)
Primarily investments sold short.
(h)
Cash held by the plans, net of amounts payable for investment manager fees, custody fees and other expenses.
Schedules of U.S. and Non-US Pension Rollforward [Table Text Block]
The following tables summarize the activity for U.S. plan assets classified in Level 3 (dollars in millions):
 
Balance at
January 1,
2012
 
Net Realized/
Unrealized
Gains (Loss)
 
Purchases,
Sales and
Settlements,
Net
 
Transfers Into/
Out
of Level 3
 
Balance at
December 31,
2012
 
Change in
Unrealized
Gains/(Losses)
Attributable to
Assets Held at
December 31,
2012
Assets
 
 
 
 
 
 
 
 
 
 
 
Common and preferred stocks
$
46

 
$
1

 
$
(25
)
 
$
(3
)
 
$
19

 
$
3

Government and agency debt securities
3

 
(1
)
 
(2
)
 
—

 
—

 
—

Corporate debt securities
352

 
1

 
(258
)
 
(18
)
 
77

 
(35
)
Non-agency mortgage and asset-
backed securities
197

 
34

 
(120
)
 
(6
)
 
105

 
24

Group annuity contracts
3,209

 
77

 
(3,286
)
 
—

 
—

 
—

Investment funds
 
 
 
 
 
 
 
 
 
 
 
Equity funds
521

 
51

 
(414
)
 
37

 
195

 
18

Fixed income funds
1,210

 
47

 
(1,067
)
 
—

 
190

 
(3
)
Funds of hedge funds
5,918

 
310

 
(2,460
)
 
—

 
3,768

 
239

Global macro funds
4

 
—

 
(1
)
 
8

 
11

 
—

Multi-strategy funds
2,123

 
53

 
(1,453
)
 
4

 
727

 
(6
)
Other investment funds
143

 
2

 
(77
)
 
—

 
68

 
4

Private equity and debt investments
8,444

 
1,022

 
(3,038
)
 
(28
)
 
6,400

 
154

Real estate investments
5,092

 
198

 
(955
)
 
—

 
4,335

 
(80
)
Other Investments
—

 
—

 
63

 
—

 
63

 
—

Total assets
27,262

 
1,795

 
(13,093
)
 
(6
)
 
15,958

 
318

 
 
 
 
 
 
 
 
 
 
 
 
Derivatives, net
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
7

 
3

 
(14
)
 
(4
)
 
(8
)
 
(1
)
Equity contracts
—

 
1

 
(1
)
 
—

 
—

 
—

Credit contracts
(6
)
 
—

 
6

 
—

 
—

 
—

Total net assets
$
27,263

 
$
1,799

 
$
(13,102
)
 
$
(10
)
 
$
15,950

 
$
317


 
Balance at
January 1,
2011
 
Net Realized/
Unrealized
Gains (Loss)
 
Purchases,
Sales and
Settlements,
Net
 
Transfers Into/
Out
of Level 3
 
Balance at
December 31,
2011
 
Change in
Unrealized
Gains/(Losses)
Attributable to
Assets Held at
December 31,
2011
Assets
 
 
 
 
 
 
 
 
 
 
 
Common and preferred stocks
$
64

 
$
(4
)
 
$
(11
)
 
$
(3
)
 
$
46

 
$
(53
)
Government and agency debt securities
75

 
(9
)
 
(63
)
 
—

 
3

 
1

Corporate debt securities
562

 
(29
)
 
(168
)
 
(13
)
 
352

 
(49
)
Non-agency mortgage and asset-
backed securities
821

 
(8
)
 
(625
)
 
9

 
197

 
(57
)
Group annuity contracts
3,115

 
302

 
(208
)
 
—

 
3,209

 
302

Investment funds
 
 
 
 
 
 
 
 
 
 
 
Equity funds
382

 
(129
)
 
268

 
—

 
521

 
(120
)
Fixed income funds
2,287

 
40

 
(1,026
)
 
(91
)
 
1,210

 
124

Funds of hedge funds
6,344

 
(56
)
 
(370
)
 
—

 
5,918

 
(23
)
Global macro funds
4

 
—

 
—

 
—

 
4

 
—

Multi-strategy funds
3,546

 
(100
)
 
(1,297
)
 
(26
)
 
2,123

 
63

Other investment funds
186

 
(19
)
 
(24
)
 
—

 
143

 
(19
)
Private equity and debt investments
8,037

 
839

 
(432
)
 
—

 
8,444

 
(12
)
Real estate investments
5,508

 
799

 
(1,215
)
 
—

 
5,092

 
382

Total assets
30,931

 
1,626

 
(5,171
)
 
(124
)
 
27,262

 
539

 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
Corporate debt securities
(2
)
 
—

 
—

 
2

 
—

 
—

Total liabilities
(2
)
 
—

 
—

 
2

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Derivatives, net
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
(18
)
 
25

 
—

 
—

 
7

 
25

Foreign currency exchange contracts
1

 
—

 
(1
)
 
—

 
—

 
—

Equity contracts
(41
)
 
50

 
(9
)
 
—

 
—

 
(1
)
Credit contracts
(1
)
 
(4
)
 
(1
)
 
—

 
(6
)
 
(7
)
Total net assets
$
30,870

 
$
1,697

 
$
(5,182
)
 
$
(122
)
 
$
27,263

 
$
556


The following tables summarize the activity for non-U.S. plan assets classified in Level 3 (dollars in millions):
 
Balance at
January 1,
2012
 
Net Realized/
Unrealized
Gains (Loss)
 
Purchases,
Sales and
Settlements,
Net
 
Transfers
Into/Out of
Level 3
 
Foreign Currency
Exchange
Rate
Movements
 
Balance at
December 31,
2012
 
Change in
Unrealized
Gains/(Losses)
Attributable to
Assets Held at
December 31,
2012
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Government and agency debt securities
$
1

 
$
—

 
$
(1
)
 
$
—

 
$
—

 
$
—

 
$
—

Corporate debt securities
4

 
2

 
(4
)
 
—

 
—

 
2

 
—

Non-agency mortgage and asset-backed securities
4

 
—

 
(4
)
 
3

 
—

 
3

 
—

Investment funds
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity funds
146

 
(24
)
 
(124
)
 
—

 
2

 
—

 
—

Fixed income funds
20

 
—

 
(6
)
 
—

 
—

 
14

 
—

Funds of hedge funds
585

 
25

 
—

 
—

 
17

 
627

 
26

Global macro funds
236

 
17

 
(258
)
 
—

 
5

 
—

 
—

Other investment funds
11

 
—

 
(11
)
 
—

 
—

 
—

 
—

Private equity and debt investments
298

 
46

 
29

 
—

 
8

 
381

 
24

Real estate investments
1,345

 
123

 
(82
)
 
—

 
36

 
1,422

 
119

Other investments
428

 
16

 
203

 
—

 
18

 
665

 
10

Total assets
$
3,078

 
$
205

 
$
(258
)
 
$
3

 
$
86

 
$
3,114

 
$
179


 
Balance at
January 1,
2011
 
Net Realized/
Unrealized
Gains (Loss)
 
Purchases,
Sales and
Settlements,
Net
 
Transfers
Into/Out of
Level 3
 
Foreign Currency
Exchange
Rate
Movements
 
Balance at
December 31,
2011
 
Change in
Unrealized
Gains/(Losses)
Attributable to
Assets Held at
December 31,
2011
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Government and agency debt securities
$
4

 
$
—

 
$
—

 
$
(3
)
 
$
—

 
$
1

 
$
—

Corporate debt securities
41

 
—

 
(28
)
 
(9
)
 
—

 
4

 
—

Non-agency mortgage and asset-backed securities
—

 
—

 
(2
)
 
6

 
—

 
4

 
—

Investment funds
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity funds
200

 
(32
)
 
9

 
(29
)
 
(2
)
 
146

 
(33
)
Fixed income funds
—

 
—

 
(5
)
 
25

 
—

 
20

 
—

Funds of hedge funds
74

 
(4
)
 
531

 
—

 
(16
)
 
585

 
(4
)
Global macro funds
255

 
(14
)
 
—

 
—

 
(5
)
 
236

 
(14
)
Other investment funds
103

 
—

 
(94
)
 
—

 
2

 
11

 
—

Private equity and debt investments
169

 
28

 
109

 
—

 
(8
)
 
298

 
28

Real estate investments
1,263

 
203

 
(99
)
 
—

 
(22
)
 
1,345

 
203

Other investments
281

 
30

 
121

 
11

 
(15
)
 
428

 
30

Total assets
$
2,390

 
$
211

 
$
542

 
$
1

 
$
(66
)
 
$
3,078

 
$
210
Schedule of Expected Benefit Payments [Table Text Block]
The following table summarizes net benefit payments expected to be paid in the future, which include assumptions related to estimated future employee service (dollars in millions):
 
 
Pension Benefits(a)
 
Other Benefits
 
 
U.S. Plans
 
Non-U.S. Plans
 
U.S. Plans
 
Non-U.S. Plans
2013
 
$
6,052

 
$
1,491

 
$
421

 
$
63

2014
 
$
5,912

 
$
1,507

 
$
373

 
$
65

2015
 
$
5,861

 
$
1,546

 
$
366

 
$
67

2016
 
$
5,674

 
$
1,575

 
$
360

 
$
70

2017
 
$
5,558

 
$
1,588

 
$
356

 
$
72

2018 - 2022
 
$
25,259

 
$
8,092

 
$
1,713

 
$
391

__________
(a)
Benefits for most U.S. pension plans and certain non-U.S. pension plans are paid out of plan assets rather than our Cash and cash equivalents.