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Retirement Plans (Tables)
12 Months Ended
Dec. 31, 2011
Retirement Plans [Abstract]  
Components of net periodic benefit cost and other amounts recognized in OCI
                                                 
    Pension Benefits    

Postretirement Benefits

Other than Pensions

 

 

 
(In millions)   2011     2010     2009     2011     2010     2009    

 

 

Net periodic benefit cost

                                               

Service cost

  $ 129     $ 124     $ 116     $ 8     $ 8     $ 8    

Interest cost

    327       328       323       33       34       38    

Expected return on plan assets

    (393     (385     (404                 —    

Amortization of prior service cost (credit)

    16       16       18       (8     (4     (5)   

Amortization of net loss

    75       41       10       11       11       8    

Curtailment and special termination charges

    (1     2       34                   (5)   

 

 

Net periodic benefit cost

  $       153     $       126     $       97     $       44     $       49     $       44    

 

 

Other changes in plan assets and benefit obligations recognized in OCI, including foreign exchange

                                               

Amortization of net loss

  $ (75   $ (41   $ (10   $ (11   $ (11   $ (8)   

Net loss (gain) arising during the year

    556       171       (58     (17           24    

Amortization of prior service credit (cost)

    (16     (16     (48     8       4       10    

Prior service cost (credit) arising during the year

    7       5       26       (23     (16     2    

Curtailments and settlements

    1       (1                       —    

 

 

Total recognized in OCI

  $ 473     $ 118     $ (90   $ (43   $ (23   $ 28    

 

 

Total recognized in net periodic benefit cost and OCI

  $ 626     $ 244     $ 7     $ 1     $ 26     $ 72    

 

 
Amortized amount from accumulated other comprehensive income
                 
(In millions)   Pension
Benefits
   

Postretirement  
Benefits  

Other than  
Pensions  

 

 

 

Net loss

  $ 117       $ 7    

Prior service cost (credit)

    16       (11)   

 

 
    $ 133       $ (4)   

 

 
Changes in the projected benefit obligation and in the fair value of plan assets
                                 
     Pension Benefits     Postretirement Benefits
Other than Pensions
 
(In millions)   2011     2010     2011     2010    

 

 

Change in benefit obligation

                               

Benefit obligation at beginning of year

  $ 5,877     $     5,470     $     614     $     646    

Service cost

    129       124       8       8    

Interest cost

    327       328       33       34    

Amendments

    7       5       (23     (16)   

Plan participants’ contributions

                5       5    

Actuarial losses (gains)

    331       292       (17     —    

Benefits paid

    (339     (330     (59     (63)   

Foreign exchange rate changes

    (7     (10           —    

Curtailments

          (2           —    

 

 

Benefit obligation at end of year

  $     6,325     $ 5,877     $ 561     $ 614    

 

 

Change in fair value of plan assets

                               

Fair value of plan assets at beginning of year

  $ 4,559     $ 4,005                  

Actual return on plan assets

    167       505                  

Employer contributions

    628       390                  

Benefits paid

    (339     (330                

Foreign exchange rate changes

    (3     (9                

Settlements and disbursements

    1       (2                

 

 

Fair value of plan assets at end of year

  $ 5,013     $ 4,559                  

 

 

Funded status at end of year

  $ (1,312   $ (1,318   $ (561   $ (614)   

 

 
Amounts recognized in our balance sheets
                                 
     Pension Benefits     Postretirement Benefits
Other than Pensions
 
(In millions)   2011     2010     2011     2010    

 

 

Non-current assets

  $ 54     $ 58     $     $ —    

Current liabilities

    (23     (22     (56     (60)   

Non-current liabilities

    (1,343     (1,354     (505     (554)   

Recognized in Accumulated other comprehensive loss, pre-tax:

                               

Net loss

          2,455           1,977             91             120    

Prior service cost (credit)

    129       138       (50     (35)   

 

 
Pension plans with accumulated benefit obligations exceeding the fair value of plan assets
                 
(In millions)   2011     2010  

Projected benefit obligation

  $     6,153     $     5,706  

Accumulated benefit obligation

    5,784       5,288  

Fair value of plan assets

    4,786       4,329  
Weighted-average assumptions used for pension and postretirement plans
                                                 
    Pension Benefits     Postretirement Benefits
Other than Pensions
 

 

 
    2011     2010     2009     2011     2010     2009    

 

 

Net periodic benefit cost

                                               

Discount rate

    5.71%       6.20%       6.61%       5.50%       5.50%       6.25%    

Expected long-term rate of return on assets

    7.84%       8.26%       8.58%                          

Rate of compensation increase

    3.99%       4.00%       4.36%                          

Benefit obligations at year-end

                                               

Discount rate

    4.95%       5.71%       6.19%       4.75%       5.50%       5.50%    

Rate of compensation increases

    3.49%       3.99%       4.00%                          

 

 
Assumed healthcare cost trend rates
                 

 

 
    2011     2010    

 

 

Medical cost trend rate

    9%       8%    

Prescription drug cost trend rate

    9%       9%    

Rate to which medical and prescription drug cost trend rates will gradually decline

    5%       5%    

Year that the rates reach the rate where we assume they will remain

    2021       2020    

 

 
Effects of one-percentage-point change in assumed healthcare cost trend rates
                 
(In millions)  

One-

Percentage-
Point
Increase

    One- 
Percentage- 
Point 
Decrease 
 

 

 

Effect on total of service and interest cost components

  $ 4     $ (3)   

Effect on postretirement benefit obligations other than pensions

    40       (35)   

 

 
Target allocation ranges
     

 

U.S. Plan Assets

   

Domestic equity securities

  27 % to 41%  

International equity securities

  11% to 22%  

Debt securities

  26% to 34%  

Private equity partnerships

  5% to 11%  

Real estate

  9% to 15%  

Hedge funds

  0% to   7%  

Foreign Plan Assets

   

Equity securities

  25% to 70%  

Debt securities

  30% to 60%  

Real estate

  3% to 17%  

 

Fair value of total pension plan assets
                                                 
    December 31, 2011     January 1, 2011  

 

 
(In millions)   Level 1     Level 2     Level 3     Level 1     Level 2     Level 3    

 

 

Cash and equivalents

  $ 14     $ 183     $     $ 3     $ 178     $ —    

Equity securities:

                                               

Domestic

    1,017       482             1,052       469       —    

International

    777       233             688       251       —    

Debt securities:

                                               

National, state and local governments

    630       254             39       570       —    

Corporate debt

    34       494             10       432       —    

Asset-backed securities

    3       74             2       103       —    

Private equity partnerships

                314                   324    

Real estate

                407                   337    

Hedge funds

                97                   101    

 

 

Total

  $   2,475     $   1,720     $     818     $   1,794     $   2,003     $     762    

 

 
Reconciliation for fair value measurements that use significant unobservable inputs
                         
(In millions)   Hedge Funds     Private Equity
Partnerships
    Real Estate    

 

 

Balance at beginning of year

  $ 101     $ 324     $ 337    

Actual return on plan assets:

                       

Related to assets still held at reporting date

    (4     7       32    

Related to assets sold during the period

          31       2    

Purchases, sales and settlements, net

          (48     36    

 

 

Balance at end of year

  $ 97     $ 314     $ 407    

 

 
Estimated future benefit payments which reflect expected future service to be paid by the plans
                                                 
(In millions)   2012     2013     2014     2015     2016     2017-2012    

 

 

Pension benefits

  $ 340     $ 347     $ 352     $ 358     $ 365     $ 1,957    

Post-retirement benefits other than pensions

    58       55       54       52       50       214    

Expected Medicare Part D Subsidy

          (2           (1           —             —             —             (1)