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PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Change in Projected Benefit Obligations, Plan Assets and Funded Status of All Significant Plans
Summarized information on the Company's pension and other postretirement benefit plans is as follows:

Change in Projected Benefit Obligations, Plan Assets and Funded Status of All Significant PlansDefined Benefit Pension PlansOther Postretirement Benefit Plans
In millions2022202120222021
Change in projected benefit obligations:
Benefit obligations at beginning of year$32,977 $35,309 $1,251 $1,464 
Service cost392 387 6 7 
Interest cost680 594 26 23 
Plan participants' contributions12 10 — — 
Actuarial changes in assumptions and experience(8,433)(820)(318)(98)
Benefits paid(1,539)(1,582)(67)(141)
Plan amendments(25)2 — — 
Acquisitions/divestitures/other 1
(602)8 — — 
Effect of foreign exchange rates(600)(545)(5)(4)
Termination benefits/curtailments/settlements 2
(1)(386)— — 
Benefit obligations at end of year$22,861 $32,977 $893 $1,251 
Change in plan assets:
Fair value of plan assets at beginning of year$28,167 $26,406 $— $— 
Actual return on plan assets (4,556)2,501 — — 
Employer contributions235 1,219 — — 
Plan participants' contributions12 10 — — 
Benefits paid(1,539)(1,582)— — 
Other 3
(592)10 — — 
Effect of foreign exchange rates(496)(397)— — 
Fair value of plan assets at end of year$21,231 $28,167 $— $— 
Funded status:
U.S. plans with plan assets$(545)$(2,585)$— $— 
Non-U.S. plans with plan assets(473)(1,467)— — 
All other plans(612)(758)(893)(1,251)
Funded status at end of year$(1,630)$(4,810)$(893)$(1,251)
Amounts recognized in the consolidated balance sheets at Dec 31:
Deferred charges and other assets$1,035 $1,173 $— $— 
Accrued and other current liabilities(66)(58)(88)(99)
Pension and other postretirement benefits - noncurrent(2,599)(5,925)(805)(1,152)
Net amount recognized$(1,630)$(4,810)$(893)$(1,251)
Pretax amounts recognized in accumulated other comprehensive loss at Dec 31:
Net loss (gain)$7,045 $9,934 $(523)$(221)
Prior service credit(116)(112)— — 
Pretax balance in accumulated other comprehensive loss at end of year$6,929 $9,822 $(523)$(221)
1.The 2022 impact primarily relates to the transfer of benefit obligations in the U.S. through the purchase of annuity contracts from an insurance company.
2.The 2021 impact primarily relates to the freeze of pensionable compensation and credited service amounts for employees that participate in the U.S. Plans.
3.The 2022 impact relates to the purchase of an annuity contract associated with the transfer of benefit obligations to an insurance company.
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets at Dec 31 20222021
In millions
Accumulated benefit obligations$18,300 $27,052 
Fair value of plan assets$15,723 $21,385 
Schedule of Projected Benefit Obligations in Excess of Fair Value of Plan Assets
Pension Plans with Projected Benefit Obligations in Excess of Plan Assets at Dec 3120222021
In millions
Projected benefit obligations$18,388 $27,367 
Fair value of plan assets$15,723 $21,385 
Schedule of Net Benefit Costs
Net Periodic Benefit Costs for All Significant Plans for the Year Ended Dec 31Defined Benefit Pension PlansOther Postretirement Benefit Plans
In millions202220212020202220212020
Net Periodic Benefit Costs:
Service cost$392 $387 $399 $6 $7 $7 
Interest cost680 594 767 26 23 40 
Expected return on plan assets(1,686)(1,724)(1,658)— — — 
Amortization of prior service credit(21)(22)(19)— — — 
Amortization of unrecognized (gain) loss658 822 773 (15)(6)(10)
Curtailment/settlement/other 1
— (18)9 — — — 
Net periodic benefit costs$23 $39 $271 $17 $24 $37 
Changes in plan assets and benefit obligations recognized in other comprehensive (income) loss:
Net (gain) loss$(2,231)$(1,980)$1,753 $(317)$(98)$8 
Prior service cost (credit)(25)2 8 — — — 
Amortization of prior service credit21 22 19 — — — 
Amortization of unrecognized gain (loss)(658)(822)(773)15 6 10 
Curtailment and settlement gain (loss) 1
— 18 (9)— — — 
Total recognized in other comprehensive (income) loss$(2,893)$(2,760)$998 $(302)$(92)$18 
Total recognized in net periodic benefit cost and other comprehensive (income) loss$(2,870)$(2,721)$1,269 $(285)$(68)$55 
1.The 2021 impact primarily relates to the freeze of pensionable compensation and credited service amounts for employees that participate in the U.S. Plans. The 2020 impact relates to pension plan curtailments of a European plan resulting from the 2020 Restructuring Program and the settlement of certain plan obligations of a U.S. non-qualified pension plan resulting from lump-sum payments.
Schedule of Expected Benefit Payments
The estimated future benefit payments, reflecting expected future service, as appropriate, are presented in the following table:

Estimated Future Benefit Payments at Dec 31, 2022
Defined Benefit Pension PlansOther Postretirement Benefit Plans
In millions
2023$1,597 $90 
20241,474 85 
20251,496 82 
20261,515 82 
20271,531 80 
2028-20327,783 350 
Total$15,396 $769 
Schedule of Allocation of Plan Assets
The weighted-average target allocation for plan assets of the Company's pension plans is summarized as follows:

Target Allocation for Plan Assets at Dec 31, 2022
Target Allocation
Asset Category
Equity securities25 %
Fixed income securities43 
Alternative investments29 
Other investments3 
Total 100 %
Schedule of Defined Benefit Plans Disclosures
The following table summarizes the bases used to measure the Company’s pension plan assets at fair value for the years ended December 31, 2022 and 2021:

Basis of Fair Value MeasurementsDec 31, 2022Dec 31, 2021
In millionsTotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Cash and cash equivalents$1,240 $989 $251 $— $1,463 $1,353 $110 $— 
Equity securities:
U.S. equity securities$1,855 $1,845 $7 $3 $4,117 $4,097 $18 $2 
Non - U.S. equity securities2,120 1,924 193 3 4,559 3,935 620 4 
Total equity securities$3,975 $3,769 $200 $6 $8,676 $8,032 $638 $6 
Fixed income securities:
Debt - government-issued$3,885 $57 $3,827 $1 $4,838 $242 $4,596 $— 
Debt - corporate-issued4,231 441 3,790 — 4,949 1,095 3,854 — 
Debt - asset-backed128 44 84 — 117 — 116 1 
Total fixed income securities$8,244 $542 $7,701 $1 $9,904 $1,337 $8,566 $1 
Alternative investments:
Private markets$5 $— $— $5 $5 $— $— $5 
Real estate48 48 — — 67 67 — — 
Derivatives - asset position348 5 343 — 399 2 397 — 
Derivatives - liability position(479)(6)(473)— (324)(2)(322)— 
Total alternative investments$(78)$47 $(130)$5 $147 $67 $75 $5 
Other investments$1,103 $16 $1,087 $— $1,068 $7 $1,061 $— 
Subtotal$14,484 $5,363 $9,109 $12 $21,258 $10,796 $10,450 $12 
Investments measured at net asset value:
Hedge funds$964 $1,312 
Private markets3,873 3,857 
Real estate1,956 1,793 
Total investments measured at net asset value$6,793 $6,962 
Items to reconcile to fair value of plan assets:
Pension trust receivables 1
$31    $62    
Pension trust payables 2
(77)   (115)   
Total$21,231    $28,167    
1.Primarily receivables for investment securities sold.
2.Primarily payables for investment securities purchased.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
The following table summarizes the changes in the fair value of Level 3 pension plan assets for the years ended December 31, 2022 and 2021:

Fair Value Measurement of Level 3 Pension Plan AssetsEquity SecuritiesFixed Income SecuritiesAlternative InvestmentsOther InvestmentsTotal
In millions
Balance at Jan 1, 2021$10 $2 $13 $2 $27 
Actual return on assets:
Relating to assets held at Dec 31, 20211 — (11)— (10)
Purchases, sales and settlements, net(5)(1)3 (2)(5)
Balance at Dec 31, 2021$6 $1 $5 $— $12 
Actual return on assets:
Relating to assets held at Dec 31, 2022(6)— (6)— (12)
Purchases, sales and settlements, net— — 6 — 6 
Transfers into Level 3, net6 — — — 6 
Balance at Dec 31, 2022$6 $1 $5 $— $12 
Defined Benefit Pension Plans  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Assumptions Used
The weighted-average assumptions used to determine pension plan obligations and net periodic benefit costs for all plans are summarized in the table below:

Weighted-Average Assumptions for All Pension Plans Benefit Obligations
 at Dec 31		Net Periodic Benefit Costs
for the Year Ended
 20222021202220212020
Discount rate5.18 %2.57 %2.57 %2.40 %2.81 %
Interest crediting rate for applicable benefits4.19 %3.57 %3.57 %3.55 %3.51 %
Rate of compensation increase4.05 %3.94 %3.94 %3.91 %3.92 %
Expected return on plan assets6.68 %6.86 %7.00 %
The weighted-average assumptions used to determine pension plan obligations and net periodic benefit costs for U.S. plans are summarized in the table below:

Weighted-Average Assumptions for U.S. Pension PlansBenefit Obligations
 at Dec 31		Net Periodic Benefit Costs
for the Year Ended
20222021202220212020
Discount rate5.64 %3.04 %3.04 %3.03 %3.41 %
Interest crediting rate for applicable benefits4.50 %4.50 %4.50 %4.50 %4.50 %
Rate of compensation increase4.25 %4.25 %4.25 %4.25 %4.25 %
Expected return on plan assets7.95 %7.96 %7.95 %
Other Postretirement Benefit Plans  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Assumptions Used
The weighted-average assumptions used to determine other postretirement benefit plan obligations and net periodic benefit costs for the U.S. plans are provided below:

Weighted-Average Assumptions for U.S. Other Postretirement Benefits PlansBenefit Obligations
 at Dec 31		Net Periodic Benefit Costs
for the Year Ended
20222021202220212020
Discount rate5.57 %2.85 %2.85 %2.38 %3.19 %
Health care cost trend rate assumed for next year6.79 %6.50 %6.50 %6.75 %6.25 %
Rate to which the cost trend rate is assumed to decline (the ultimate health care cost trend rate)5.00 %5.00 %5.00 %5.00 %5.00 %
Year that the rate reaches the ultimate health care cost trend rate20332028202820282025