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Pension Benefit Plans (Tables) - Pension benefit plans
 12 Months Ended
Dec. 31, 2020
Defined Benefit Plans and Other Post-Retirement Benefit Plans [Line Items]  
Funded Status Of Pension Plans
The following sets forth the funded status of the U.S. and non-U.S. plans as of the most recent actuarial valuations using measurement dates of December 31 ($ in millions):
 U.S. Pension BenefitsNon-U.S. Pension Benefits
 2020201920202019
Change in pension benefit obligation:
Benefit obligation at beginning of year$(2,468)$(2,340)$(1,446)$(1,315)
Service cost— (6)(40)(25)
Interest cost(69)(89)(22)(24)
Employee contributions— — (6)(5)
Benefits and other expenses paid165 164 59 48 
Acquisitions and other(96)— (436)— 
Actuarial loss(273)(237)(106)(152)
Amendments, settlements and curtailments23 40 4 47 
Foreign exchange rate impact— — (168)(20)
Benefit obligation at end of year(2,718)(2,468)(2,161)(1,446)
Change in plan assets:
Fair value of plan assets at beginning of year1,866 1,778 1,138 1,032 
Actual return on plan assets227 283 104 115 
Employer contributions140 10 51 44 
Employee contributions— — 6 5 
Amendments and settlements(22)(41)(7)(37)
Benefits and other expenses paid(165)(164)(59)(48)
Acquisitions and other79 — 30 — 
Foreign exchange rate impact— — 68 27 
Fair value of plan assets at end of year2,125 1,866 1,331 1,138 
Funded status$(593)$(602)$(830)$(308)
Projected Benefit Obligation and Fair Value of Plan Assets
Projected benefit obligation (“PBO”) and fair value of plan assets for pension plans with PBO’s in excess of plan assets ($ in millions):
U.S. Pension BenefitsNon-U.S. Pension Benefits
2020201920202019
Projected benefit obligation
$2,718 $2,468 $1,366 $778 
Fair value of plan assets
2,125 1,866 441 370 
Accumulated Benefit Obligation and Fair Value of Plan Assets
Accumulated benefit obligation (“ABO”) and fair value of plan assets for pension plans with ABO’s in excess of plan assets ($ in millions):
U.S. Pension BenefitsNon-U.S. Pension Benefits
2020201920202019
Accumulated benefit obligation
$2,718 $2,468 $1,257 $730 
Fair value of plan assets
2,125 1,866 434 370 
Weighted Average Assumptions Used To Determine Benefit Obligations And Cost
Weighted average assumptions used to determine benefit obligations at date of measurement:
 U.S. PlansNon-U.S. Plans
 2020201920202019
Discount rate2.3 %3.2 %1.1 %1.4 %
Rate of compensation increaseN/A4.0 %2.5 %2.4 %
Weighted average assumptions used to determine net periodic pension benefit (cost) at date of measurement:
 U.S. PlansNon-U.S. Plans
 2020201920202019
Discount rate3.2 %4.3 %1.4 %2.1 %
Expected long-term return on plan assets7.0 %7.0 %3.4 %3.9 %
Rate of compensation increase4.0 %4.0 %2.4 %2.4 %
Components of Net Periodic Pension Cost
Components of net periodic pension benefit (cost) ($ in millions):
 U.S. Pension BenefitsNon-U.S. Pension Benefits
2020201920202019
Service cost$— $(6)$(40)$(25)
Interest cost(69)(89)(22)(24)
Expected return on plan assets121 126 37 40 
Amortization of prior service (cost) credit(1)(1)1 — 
Amortization of net loss(37)(26)(10)(4)
Curtailment and settlement gains (losses) recognized— — (1)(7)
Net periodic pension benefit (cost)$14 $4 $(35)$(20)
Disaggregation of Service Cost
The net periodic benefit (cost) of the noncontributory defined benefit pension plans incurred during the years ended December 31, 2020, 2019 and 2018 are reflected in the following captions in the accompanying Consolidated Statements of Earnings ($ in millions):
Year Ended December 31
202020192018
Service cost:
Cost of sales$(7)$(6)$(11)
Selling, general and administrative expenses(33)(25)(21)
Total service cost expense(40)(31)(32)
Other net periodic pension costs:
Other income (expense), net19 15 37 
Total (expense) income$(21)$(16)$5 
Fair Values Of Pension Plan Assets
The fair values of the Company’s pension plan assets for both the U.S. and non-U.S. plans as of December 31, 2020, by asset category were as follows ($ in millions):
Quoted Prices in Active Market (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Total
Cash and equivalents$175 $— $— $175 
Equity securities:
Common stock503 — — 503 
Preferred stock6 — — 6 
Fixed income securities:
Corporate bonds— 42 — 42 
Government issued— 58 — 58 
Mutual funds244 51 — 295 
Insurance contracts— 354 — 354 
Total$928 $505 $— 1,433 
Investments measured at NAV (a):
Common/collective trusts1,198 
Venture capital, partnerships and other private investments825 
Total assets at fair value$3,456 
(a)    The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the total plan assets.
The fair values of the Company’s pension plan assets for both the U.S. and non-U.S. plans as of December 31, 2019, by asset category were as follows ($ in millions):
Quoted Prices in Active Market (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Total
Cash and equivalents$68 $— $— $68 
Equity securities:
Common stock390 — — 390 
Preferred stock6 — — 6 
Fixed income securities:
Corporate bonds— 35 — 35 
Government issued— 22 — 22 
Mutual funds287 132 — 419 
Insurance contracts— 299 — 299 
Total$751 $488 $— 1,239 
Investments measured at NAV (a):
Common/collective trusts1,071 
Venture capital, partnerships and other private investments694 
Total assets at fair value$3,004 
(a)    The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the total plan assets.
Benefit Payments That Reflect Expected Future Service
The following sets forth benefit payments, which reflect expected future service, as appropriate, expected to be paid by the plans in the periods indicated ($ in millions):
U.S. Pension PlansNon-U.S. Pension PlansAll Pension Plans
2021$188 $61 $249 
2022187 68 255 
2023187 66 253 
2024182 68 250 
2025173 68 241 
2026 - 2030789 379 1,168