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Retirement Benefits (Tables)
12 Months Ended
Dec. 31, 2011
Defined Benefit Plan Disclosure [Line Items]  
Schedule of estimated future benefit payaments for its pension and postretirement benefits
December 31,
Pension Benefits
 
Postretirement
Benefits
(In millions of dollars)
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
2012
$
197

 
$
247

 
$
11

 
$
4

2013
$
207

 
$
253

 
$
12

 
$
4

2014
$
218

 
$
267

 
$
12

 
$
4

2015
$
230

 
$
283

 
$
12

 
$
4

2016
$
242

 
$
301

 
$
12

 
$
4

2017-2021
$
1,395

 
$
1,786

 
$
61

 
$
25

Summary of the U.S. and non-U.S. plans investments measured at fair value on a recurring basis
  
Fair Value Measurements at December 31, 2011
Assets (In millions of dollars)
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
Common/Collective trusts
$
10

 
$
4,837

 
$

 
$
4,847

Corporate obligations

 
1,792

 
1

 
1,793

Corporate stocks
1,716

 
15

 
8

 
1,739

Private equity/Partnerships

 
1

 
779

 
780

Government securities
10

 
368

 

 
378

Real estate
14

 
4

 
319

 
337

Short-term investment funds
288

 
42

 

 
330

Company common stock
253

 

 

 
253

Other investments
1

 
34

 
202

 
237

Insurance group annuity contracts

 

 
20

 
20

Swaps

 
5

 

 
5

Total investments
$
2,292

 
$
7,098

 
$
1,329

 
$
10,719

  
 
Fair Value Measurements at December 31, 2010
Assets (In millions of dollars)
 
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
Common/Collective trusts
 
$

 
$
4,471

 
$

 
$
4,471

Corporate obligations
 

 
1,103

 
8

 
1,111

Corporate stocks
 
1,939

 
1

 
1

 
1,941

Private equity/Partnerships
 

 
1

 
746

 
747

Government securities
 

 
547

 

 
547

Real estate
 
3

 
5

 
293

 
301

Short-term investment funds
 
561

 
49

 

 
610

Company common stock
 
219

 

 

 
219

Other investments
 
3

 
8

 
177

 
188

Insurance group annuity contracts
 

 

 
20

 
20

Swaps
 

 
9

 

 
9

Total investments
 
$
2,725

 
$
6,194

 
$
1,245

 
$
10,164

Summary of changes in the fair value of the plans' Level 3 assets
Assets (In millions)
Fair Value,
January 1, 2011
 
Purchases
 
Sales
 
Unrealized
Gain/
(Loss)
 
Realized
Gain/
(Loss)
 
Exchange
Rate
Impact
 
Transfers
in/(out)
and
Other
 
Fair
Value, December 31, 2011
Private equity/Partnerships
$
746

 
$
119

 
$
(80
)
 
$
(83
)
 
$
70

 
$
7

 
$

 
$
779

Real estate
293

 

 

 
22

 
(1
)
 
5

 

 
319

Other investments
177

 
32

 
(13
)
 
6

 
2

 
(2
)
 

 
202

Insurance group annuity contracts
20

 
151

 
(150
)
 
8

 
(9
)
 

 

 
20

Corporate stocks
1

 
8

 

 
(1
)
 

 

 

 
8

Corporate obligations
8

 
1

 
(8
)
 
2

 
(1
)
 

 
(1
)
 
1

Total assets
$
1,245

 
$
311

 
$
(251
)
 
$
(46
)
 
$
61

 
$
10

 
$
(1
)
 
$
1,329

Assets (In millions)
Fair Value,
January 1, 2010
 
Purchases
 
Sales
 
Unrealized
Gain/
(Loss)
 
Realized
Gain/
(Loss)
 
Exchange
Rate
Impact
 
Transfers
in/(out)
and
Other
 
Fair
Value,
December 31, 2010
Private equity/Partnerships
$
637

 
$
138

 
$
(54
)
 
$
15

 
$
22

 
$
(12
)
 
$

 
$
746

Real estate
269

 

 

 
34

 

 
(10
)
 

 
293

Other investments
180

 
19

 
(16
)
 
3

 
1

 
(14
)
 
4

 
177

Insurance group annuity contracts
17

 
141

 
(140
)
 
2

 

 

 

 
20

Corporate stocks
11

 
1

 
(4
)
 
(3
)
 
1

 

 
(5
)
 
1

Corporate obligations
5

 
2

 
(2
)
 
3

 
(1
)
 

 
1

 
8

Government securities
3

 

 
(3
)
 

 

 

 

 

Total assets
$
1,122

 
$
301

 
$
(219
)
 
$
54

 
$
23

 
$
(36
)
 
$

 
$
1,245

Combined US & Significant Non-US Plans [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Schedule of weighted average actuarial assumptions utilized defined benefit plans
  
Pension Benefits
 
Postretirement
Benefits
 
2011
 
2010
 
2011
 
2010
Weighted average assumptions:
 
 
 
 
 
 
 
Discount rate (for expense)
5.59
%
 
6.00
%
 
5.81
%
 
6.27
%
Expected return on plan assets
8.19
%
 
8.18
%
 
%
 
%
Rate of compensation increase (for expense)
4.08
%
 
4.16
%
 
%
 
%
Discount rate (for benefit obligation)
4.91
%
 
5.59
%
 
5.05
%
 
5.84
%
Rate of compensation increase (for benefit obligation)
3.09
%
 
4.09
%
 
%
 
%
Schedule of components of net periodic benefit cost for U.S. defined benefit and other postretirement benefit plans
Combined U.S. and significant non-U.S. Plans
Pension
 
Postretirement
For the Years Ended December 31,
Benefits
 
Benefits
(In millions of dollars)
2011

 
2010

 
2009

 
2011

 
2010

 
2009

Service cost
$
226

 
$
197

 
$
188

 
$
5

 
$
4

 
$
5

Interest cost
609

 
578

 
551

 
13

 
14

 
17

Expected return on plan assets
(887
)
 
(815
)
 
(788
)
 

 

 

Amortization of prior service credit
(19
)
 
(21
)
 
(49
)
 
(13
)
 
(13
)
 
(13
)
Recognized actuarial loss (credit)
215

 
144

 
70

 
(4
)
 

 
1

Net periodic benefit cost
$
144

 
$
83

 
$
(28
)
 
$
1

 
$
5

 
$
10

U.S. Plans [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Schedule of weighted average actuarial assumptions utilized defined benefit plans
  
U.S. Pension
Benefits
 
U.S.  Postretirement
Benefits
2011

 
2010

 
2011

 
2010

Weighted average assumptions:
 
 
 
 
 
 
 
Discount rate (for expense)
5.90
%
 
6.35
%
 
5.95
%
 
6.30
%
Expected return on plan assets
8.75
%
 
8.75
%
 

 

Rate of compensation increase (for expense)
3.90
%
 
3.90
%
 

 

Discount rate (for benefit obligation)
5.15
%
 
5.90
%
 
5.10
%
 
6.00
%
Rate of compensation increase (for benefit obligation)
2.00
%
 
3.90
%
 

 

Schedule of components of net periodic benefit cost for U.S. defined benefit and other postretirement benefit plans
U.S. Plans only
Pension
 
Postretirement
For the Years Ended December 31,
Benefits
 
Benefits
(In millions of dollars)
2011

 
2010

 
2009

 
2011

 
2010

 
2009

Service cost
$
83

 
$
76

 
$
76

 
$
3

 
$
3

 
$
4

Interest cost
231

 
227

 
219

 
8

 
10

 
12

Expected return on plan assets
(315
)
 
(295
)
 
(293
)
 

 

 

Amortization of prior service credit
(16
)
 
(18
)
 
(47
)
 
(13
)
 
(13
)
 
(13
)
Recognized actuarial loss (credit)
100

 
71

 
52

 
(4
)
 

 
1

Net periodic benefit cost (credit)
$
83

 
$
61

 
$
7

 
$
(6
)
 
$

 
$
4

Schedule of MMC's defined benefit plans and postretirement plans
December 31,
U.S. Pension
Benefits
 
U.S.  Postretirement
Benefits
(In millions of dollars)
2011

 
2010

 
2011

 
2010

Change in benefit obligation:
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
4,041

 
$
3,629

 
$
180

 
$
163

Service cost
83

 
76

 
3

 
3

Interest cost
231

 
227

 
8

 
10

Actuarial (gain) loss
352

 
270

 
(20
)
 
12

Medicare Part D subsidy

 

 
4

 
3

Benefits paid
(174
)
 
(161
)
 
(13
)
 
(11
)
Benefit obligation at end of year
$
4,533

 
$
4,041

 
$
162

 
$
180

Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
$
3,444

 
$
2,959

 
$

 
$

Actual return on plan assets
199

 
425

 

 

Employer contributions
24

 
221

 
9

 
8

Medicare Part D subsidy

 

 
4

 
3

Benefits paid
(174
)
 
(161
)
 
(13
)
 
(11
)
Fair value of plan assets at end of year
$
3,493

 
$
3,444

 
$

 
$

Funded status
$
(1,040
)
 
$
(597
)
 
$
(162
)
 
$
(180
)
Net liability recognized
$
(1,040
)
 
$
(597
)
 
$
(162
)
 
$
(180
)
Amounts recognized in the consolidated balance sheets:
 
 
 
 
 
 
 
Current liabilities
$
(124
)
 
$
(23
)
 
$
(9
)
 
$
(11
)
Noncurrent liabilities
(916
)
 
(574
)
 
(153
)
 
(169
)
 
$
(1,040
)
 
$
(597
)
 
$
(162
)
 
$
(180
)
Amounts not yet recognized in net periodic cost and included in accumulated other comprehensive income:
 
 
 
 
 
 
 
Unrecognized prior service credit
$
39

 
$
55

 
$
13

 
$
26

Unrecognized net actuarial (loss) gain
(1,695
)
 
(1,327
)
 
12

 
(4
)
Total amounts included in accumulated other comprehensive income
$
(1,656
)
 
$
(1,272
)
 
$
25

 
$
22

Cumulative employer contributions in excess of net periodic cost
616

 
675

 
(187
)
 
(202
)
Net amount recognized in consolidated balance sheet
$
(1,040
)
 
$
(597
)
 
$
(162
)
 
$
(180
)
Accumulated benefit obligation at December 31
$
4,467

 
$
3,929

 
$

 
$

December 31,
U.S. Pension
Benefits
 
U.S.  Postretirement
Benefits
(In millions of dollars)
2011

 
2010

 
2011

 
2010

Reconciliation of unrecognized prior service credit:
 
 
 
 
 
 
 
Amount disclosed as of prior year-end
$
55

 
$
73

 
$
26

 
$
39

Recognized as component of net periodic benefit credit
(16
)
 
(18
)
 
(13
)
 
(13
)
Amount at end of year
$
39

 
$
55

 
$
13

 
$
26


Schedule of unrecognized net actuarial gain (loss)
December 31,
U.S. Pension
Benefits
 
U.S.  Postretirement
Benefits
(In millions of dollars)
2011

 
2010

 
2011

 
2010

Reconciliation of unrecognized prior service credit:
 
 
 
 
 
 
 
Amount disclosed as of prior year-end
$
55

 
$
73

 
$
26

 
$
39

Recognized as component of net periodic benefit credit
(16
)
 
(18
)
 
(13
)
 
(13
)
Amount at end of year
$
39

 
$
55

 
$
13

 
$
26



Schedule of total recognized in net periodic benefit cost and other comprehensive income (loss)
December 31,
U.S. Pension
Benefits
 
U.S.  Postretirement
Benefits
(In millions of dollars)
2011

 
2010

 
2011

 
2010

Reconciliation of unrecognized net actuarial gain (loss):
 
 
 
 
 
 
 
Amount disclosed as of prior year-end
$
(1,327
)
 
$
(1,258
)
 
$
(4
)
 
$
9

Recognized as component of net periodic benefit cost
100

 
71

 
(4
)
 

Changes in plan assets and benefit obligations recognized in other comprehensive income:
 
 
 
 
 
 
 
Liability experience
(352
)
 
(269
)
 
20

 
(13
)
Asset experience
(116
)
 
129

 

 

Total gain (loss) recognized as change in plan assets and benefit obligations
(468
)
 
(140
)
 
20

 
(13
)
Amount at end of year
$
(1,695
)
 
$
(1,327
)
 
$
12

 
$
(4
)
For the Years Ended December 31,
U.S. Pension
Benefits
 
U.S. Postretirement
Benefits
(In millions of dollars)
2011

 
2010

 
2009

 
2011

 
2010

 
2009

Total recognized in net periodic benefit cost and other comprehensive loss (income)
$
467

 
$
148

 
$
42

 
$
(9
)
 
$
26

 
$
(7
)
Schedule of change in assumed health care cost trend rates
(In millions of dollars)
1 Percentage
Point Increase
 
1 Percentage
Point Decrease
Effect on total of service and interest cost components
$

 
$
(1
)
Effect on postretirement benefit obligation
$
1

 
$
(16
)
Schedule of estimated amounts that will be amortized from accumulated other comprehensive in the next fiscal year
 
U.S. Pension
Benefits
 
U.S. Postretirement
Benefits
(In millions of dollars)
2012

 
2012

Prior service credit
$
(16
)
 
$
(12
)
Net actuarial loss (gain)
146

 
(1
)
Projected cost (credit)
$
130

 
$
(13
)
Non-U.S. Plans [Member]
 
Defined Benefit Plan Disclosure [Line Items]  
Schedule of weighted average actuarial assumptions utilized defined benefit plans
December 31,
Non-U.S. Pension
Benefits
 
Non-U.S.
Postretirement Benefits
(In millions of dollars)
2011
 
2010
 
2011
 
2010
Weighted average assumptions:
 
 
 
 
 
 
 
Discount rate (for expense)
5.41
%
 
5.80
%
 
5.51
%
 
6.20
%
Expected return on plan assets
7.91
%
 
7.90
%
 
%
 
%
Rate of compensation increase (for expense)
4.19
%
 
4.30
%
 
%
 
%
Discount rate (for benefit obligation)
4.77
%
 
5.40
%
 
4.95
%
 
5.50
%
Rate of compensation increase (for benefit obligation)
3.73
%
 
4.20
%
 
%
 
%
Schedule of components of net periodic benefit cost for U.S. defined benefit and other postretirement benefit plans
For the Years Ended December 31,
Non-U.S. Pension
Benefits
 
Non-U.S. Postretirement
Benefits
(In millions of dollars)
2011

 
2010

 
2009

 
2011

 
2010

 
2009

Service cost
$
143

 
$
121

 
$
112

 
$
2

 
$
1

 
$
1

Interest cost
378

 
351

 
332

 
5

 
4

 
5

Expected return on plan assets
(572
)
 
(520
)
 
(495
)
 

 

 

Amortization of prior service cost
(3
)
 
(3
)
 
(2
)
 

 

 

Recognized actuarial loss
115

 
73

 
18

 

 

 

Net periodic benefit cost (credit)
61

 
22

 
(35
)
 
7

 
5

 
6

Settlement (credit)/loss

 
5

 
1

 

 

 

Curtailment (credit)/loss

 

 

 

 

 

Special termination benefits

 
1

 

 

 

 

Total cost (credit)
$
61

 
$
28

 
$
(34
)
 
$
7

 
$
5

 
$
6

Schedule of unrecognized net actuarial gain (loss)
December 31,
Non-U.S. Pension
Benefits
 
Non-U.S.
Postretirement Benefits
(In millions of dollars)
2011

 
2010

 
2011

 
2010

Reconciliation of prior service credit (cost):
 
 
 
 
 
 
 
Amount disclosed as of prior year-end
$
23

 
$
24

 
$
1

 
$
1

Recognized as component of net periodic benefit credit
3

 
(2
)
 

 

Changes in plan assets and benefit obligations recognized in other comprehensive income:
 
 
 
 
 
 
 
Plan amendments
(3
)
 

 

 

Exchange rate adjustments

 
1

 

 

Amount at end of year
$
23

 
$
23

 
$
1

 
$
1

Schedule of defined benefit plans disclosures and unrecognized net actuarial gain (loss) [Table Text Block]
December 31,
Non-U.S. Pension
Benefits
 
Non-U.S.
Postretirement Benefits
(In millions of dollars)
2011

 
2010

 
2011

 
2010

Change in benefit obligation:
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
6,802

 
$
6,354

 
$
83

 
$
70

Service cost
143

 
121

 
2

 
1

Interest cost
378

 
351

 
5

 
4

Employee contributions
14

 
16

 

 

Actuarial loss
575

 
430

 
5

 
11

Plan amendments
(3
)
 

 

 

Effect of settlement
(7
)
 
(17
)
 

 

Effect of curtailment
(1
)
 
(2
)
 

 

Special termination benefits

 
1

 

 

Benefits paid
(266
)
 
(244
)
 
(4
)
 
(3
)
Foreign currency changes
66

 
(208
)
 

 

Newly disclosed plans
16

 

 

 

Benefit obligation at end of year
$
7,717

 
$
6,802

 
$
91

 
$
83

Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
$
6,741

 
$
6,183

 
$

 
$

Actual return on plan assets
311

 
765

 

 

Effect of settlement
(6
)
 
(17
)
 

 

Company contributions
320

 
237

 
4

 
3

Employee contributions
14

 
16

 

 

Benefits paid
(266
)
 
(244
)
 
(4
)
 
(3
)
Foreign currency changes
82

 
(202
)
 

 

Newly disclosed plans
12

 

 

 

Other
(2
)
 
3

 

 

Fair value of plan assets at end of year
$
7,206

 
$
6,741

 
$

 
$

Funded status
$
(511
)
 
$
(61
)
 
$
(91
)
 
$
(83
)
Net liability recognized
$
(511
)
 
$
(61
)
 
$
(91
)
 
$
(83
)
Amounts recognized in the consolidated balance sheets:
 
 
 
 
 
 
 
Non-current assets
$
39

 
$
265

 
$

 
$

Current liabilities
(106
)
 
(8
)
 
(4
)
 
(4
)
Non-current liabilities
(444
)
 
(318
)
 
(87
)
 
(79
)
 
$
(511
)
 
$
(61
)
 
$
(91
)
 
$
(83
)
Amounts not yet recognized in net periodic cost and included in accumulated other comprehensive income:
 
 
 
 
 
 
 
Unrecognized prior service credit
$
23

 
$
23

 
$
1

 
$
1

Unrecognized net actuarial loss
(3,038
)
 
(2,305
)
 
(19
)
 
(14
)
Total amounts included in AOCI
$
(3,015
)
 
$
(2,282
)
 
$
(18
)
 
$
(13
)
Cumulative employer contributions in excess of net periodic cost
2,504

 
2,221

 
(73
)
 
(70
)
Net amount recognized in consolidated balance sheet
$
(511
)
 
$
(61
)
 
$
(91
)
 
$
(83
)
Accumulated benefit obligation at December 31
$
7,246

 
$
6,313

 
$

 
$

December 31,
Non-U.S. Pension
Benefits
 
Non-U.S.
Postretirement Benefits
(In millions of dollars)
2011

 
2010

 
2011

 
2010

Reconciliation of prior service credit (cost):
 
 
 
 
 
 
 
Amount disclosed as of prior year-end
$
23

 
$
24

 
$
1

 
$
1

Recognized as component of net periodic benefit credit
3

 
(2
)
 

 

Changes in plan assets and benefit obligations recognized in other comprehensive income:
 
 
 
 
 
 
 
Plan amendments
(3
)
 

 

 

Exchange rate adjustments

 
1

 

 

Amount at end of year
$
23

 
$
23

 
$
1

 
$
1

December 31,
Non-U.S.  Pension
Benefits
 
Non-U.S.
Postretirement Benefits
(In millions of dollars)
2011

 
2010

 
2011

 
2010

Reconciliation of net actuarial loss:
 
 
 
 
 
 
 
Amount disclosed as of prior year-end
$
(2,305
)
 
$
(2,268
)
 
$
(14
)
 
$
(4
)
Recognized as component of net periodic benefit cost
115

 
73

 

 

Effect of settlement

 
5

 

 

Changes in plan assets and benefit obligations recognized in other comprehensive income:
 
 
 
 
 
 
 
Liability experience
(575
)
 
(430
)
 
(5
)
 
(10
)
Asset experience
(261
)
 
244

 

 

Effect of curtailment
(1
)
 
2

 

 

Total amount recognized as change in plan assets and benefit obligations
(837
)
 
(184
)
 
(5
)
 
(10
)
Exchange rate adjustments
(11
)
 
69

 

 

Amount at end of year
$
(3,038
)
 
$
(2,305
)
 
$
(19
)
 
$
(14
)
For the Years Ended December 31,
Non-U.S. Pension
Benefits
 
Non-U.S. Postretirement
Benefits
(In millions of dollars)
2011

 
2010

 
2009

 
2011

 
2010

 
2009

Total recognized in net periodic benefit cost and other comprehensive loss
$
792

 
$
66

 
$
519

 
$
12

 
$
15

 
$
3


Schedule of total recognized in net periodic benefit cost and other comprehensive income (loss)
December 31,
Non-U.S.  Pension
Benefits
 
Non-U.S.
Postretirement Benefits
(In millions of dollars)
2011

 
2010

 
2011

 
2010

Reconciliation of net actuarial loss:
 
 
 
 
 
 
 
Amount disclosed as of prior year-end
$
(2,305
)
 
$
(2,268
)
 
$
(14
)
 
$
(4
)
Recognized as component of net periodic benefit cost
115

 
73

 

 

Effect of settlement

 
5

 

 

Changes in plan assets and benefit obligations recognized in other comprehensive income:
 
 
 
 
 
 
 
Liability experience
(575
)
 
(430
)
 
(5
)
 
(10
)
Asset experience
(261
)
 
244

 

 

Effect of curtailment
(1
)
 
2

 

 

Total amount recognized as change in plan assets and benefit obligations
(837
)
 
(184
)
 
(5
)
 
(10
)
Exchange rate adjustments
(11
)
 
69

 

 

Amount at end of year
$
(3,038
)
 
$
(2,305
)
 
$
(19
)
 
$
(14
)
For the Years Ended December 31,
Non-U.S. Pension
Benefits
 
Non-U.S. Postretirement
Benefits
(In millions of dollars)
2011

 
2010

 
2009

 
2011

 
2010

 
2009

Total recognized in net periodic benefit cost and other comprehensive loss
$
792

 
$
66

 
$
519

 
$
12

 
$
15

 
$
3

Schedule of change in assumed health care cost trend rates
(In millions of dollars)
1 Percentage
Point Increase
 
1 Percentage
Point Decrease
Effect on total of service and interest cost components
$
1

 
$

Effect on postretirement benefit obligation
$
10

 
$
(8
)
Schedule of estimated amounts that will be amortized from accumulated other comprehensive in the next fiscal year
  
Non-U.S. Pension
Benefits
 
Non-U.S.
Postretirement Benefits
(In millions of dollars)
2012

 
2012

Prior service credit
$
3

 
$

Net actuarial loss
(116
)
 
(1
)
Projected cost
$
(113
)
 
$
(1
)