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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Schedule of defined benefit plans disclosures

Benefit Obligations, Fair Value of Plan Assets and Funded Status



	Pension Benefits						Other Postretirement and Postemployment Benefits
	December 31,						December 31,
(in millions)	2014			2013			2014			2013
Benefit obligation at beginning of period	$	19,060		$	21,489		$	3,205		$	3,582
Service cost	—			—			52			49
Interest cost	928			861			155			143
Actuarial loss (gain)	2,923			(2,212		)	338			(301		)
Benefits paid, including lump sums and annuities	(1,055		)	(1,078		)	(307		)	(313		)
Participant contributions	—			—			44			45
Benefit obligation at end of period⁽¹⁾	$	21,856		$	19,060		$	3,487		$	3,205

Fair value of plan assets at beginning of period	$	8,937		$	8,196		$	1,043		$	1,004
Actual gain on plan assets	556			905			57			129
Employer contributions	917			914			160			191
Participant contributions	—			—			44			45
Benefits paid, including lump sums and annuities	(1,055		)	(1,078		)	(322		)	(326		)
Fair value of plan assets at end of period	$	9,355		$	8,937		$	982		$	1,043

Funded status at end of period	$	(12,501	)	$	(10,123	)	$	(2,505	)	$	(2,162	)


⁽¹⁾	At the end of each year presented, our accumulated benefit obligations for our pension plans are equal to the benefit obligations shown above.

Schedule of amounts recognized in balance sheet

Balance Sheet Position



	Pension Benefits						Other Postretirement and Postemployment Benefits
	December 31,						December 31,
(in millions)	2014			2013			2014			2013
Current liabilities	$	(28	)	$	(22	)	$	(139	)	$	(139	)
Noncurrent liabilities	(12,473		)	(10,101		)	(2,366		)	(2,023		)
Total liabilities	$	(12,501	)	$	(10,123	)	$	(2,505	)	$	(2,162	)

Net actuarial loss	$	(8,409	)	$	(5,349	)	$	(465	)	$	(103	)
Prior service credit	—			—			135			161
Total accumulated other comprehensive income (loss), pre-tax	$	(8,409	)	$	(5,349	)	$	(330	)	$	58

Schedule of net benefit costs

Net Periodic Cost



	Pension Benefits									Other Postretirement and Postemployment Benefits
	Year Ended December 31,									Year Ended December 31,
(in millions)	2014			2013			2012			2014			2013			2012
Service cost	$	—		$	—		$	—		$	52		$	49		$	56
Interest cost	928			861			930			155			143			164
Expected return on plan assets	(829		)	(734		)	(705		)	(84		)	(84		)	(77		)
Amortization of prior service credit	—			—			—			(26		)	(26		)	(21		)
Recognized net actuarial loss	134			221			143			4			25			23
Settlements	—			6			—			—			—			—
Special termination benefits	—			—			—			—			—			116
Net periodic cost	$	233		$	354		$	368		$	101		$	107		$	261
Defined contribution plan costs	551			490			426			—			—			—
Total cost	$	784		$	844		$	794		$	101		$	107		$	261

Schedule of assumptions used

We used the following actuarial assumptions to determine our benefit obligations and our net periodic cost for the periods presented:



	December 31,
Benefit Obligations⁽¹⁾⁽²⁾	2014		2013
Weighted average discount rate	4.14	%	5.01	%



	Year Ended December 31,
Net Periodic Cost⁽²⁾	2014		2013		2012
Weighted average discount rate - pension benefit	4.99	%	4.10	%	4.95	%
Weighted average discount rate - other postretirement benefit⁽³⁾	4.88	%	4.00	%	4.63	%
Weighted average discount rate - other postemployment benefit	5.00	%	4.13	%	4.88	%
Weighted average expected long-term rate of return on plan assets	8.94	%	8.94	%	8.94	%
Assumed healthcare cost trend rate⁽⁴⁾	7.00	%	7.00	%	7.00	%


⁽¹⁾	Our 2014 and 2013 benefit obligations are measured using a mortality table projected to 2022 and 2017, respectively.


⁽²⁾	Future compensation levels do not impact our frozen defined benefit pension plans or other postretirement plans and impact only a small portion of our other postemployment liability.


⁽³⁾	Our assumptions reflect various remeasurements of certain portions of our obligations and represent the weighted average of the assumptions used for each measurement date.


⁽⁴⁾	Assumed healthcare cost trend rate at December 31, 2014 is assumed to decline gradually to 5.00% by 2024 and remain level thereafter.

Schedule of effect of one-percentage-point change in assumed health care cost trend rates

A 1% change in the healthcare cost trend rate used in measuring the accumulated plan benefit obligation for these plans, which provide benefits to eligible retirees and their dependents who are under age 65, at December 31, 2014, would have the following effects:



(in millions)	1% Increase		1% Decrease
Increase (decrease) in total service and interest cost	$	1	$	(2	)
Increase (decrease) in the accumulated plan benefit obligation	14		(28		)

Schedule of expected benefit payments

The following table summarizes, the benefit payments that are scheduled to be paid in the years ending December 31:



(in millions)	Pension Benefits		Other Postretirement and Postemployment Benefits
2015	$	1,124	$	278
2016	1,133		272
2017	1,153		265
2018	1,173		256
2019	1,191		257
2020-2024	6,229		1,305

Fair value, assets measured on recurring basis



	December 31, 2014								December 31, 2013
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Valuation Technique
Equities and equity-related instruments	$	699	$	1,486	$	—	$	2,185	$	1,774	$	2,391	$	—	$	4,165	(a)
Fixed income and fixed income-related instruments
Sovereign fixed income	—		—		—		—		—		45		—		45		(a)(b)
Credit-related fixed income	—		470		124		594		—		525		59		584		(a)(b)
Other fixed income	18		617		—		635		—		870		—		870		(a)(b)
Private equity	—		—		1,213		1,213		—		—		1,366		1,366		(a)(b)
Real assets	—		—		663		663		—		—		688		688		(a)(b)
Hedge funds	31		—		2,214		2,245		—		—		552		552		(a)(b)
Cash equivalents	4		2,428		—		2,432		28		1,582		—		1,610		(a)
Other	—		—		384		384		—		—		—		—		(a)(b)
Total benefit plan assets	$	752	$	5,001	$	4,598	$	10,351	$	1,802	$	5,413	$	2,665	$	9,880

Fair value, assets measured on recurring basis, unobservable input reconciliation

The following table shows the changes in our benefit plan assets classified in Level 3:



(in millions)	Private Equity			Real Estate			Hedge Funds		Fixed Income			Other			Total
Balance at January 1, 2013	$	1,466		$	613		$	484	$	13		$	—		$	2,576
Actual return on plan assets:
Related to assets still held at the reporting date	98			61			49		2			—			210
Related to assets sold during the period	64			19			—		—			—			83
Purchases, sales and settlements, net	(262		)	(5		)	19		44			—			(204		)
Balance at December 31, 2013	1,366			688			552		59			—			2,665
Actual return on plan assets:
Related to assets still held at the reporting date	(116		)	(39		)	167		(17		)	(9		)	(14		)
Related to assets sold during the period	107			37			38		1			—			183
Purchases, sales and settlements, net	(144		)	(23		)	1,457		81			393			1,764
Balance at December 31, 2014	$	1,213		$	663		$	2,214	$	124		$	384		$	4,598

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

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