Retirement Benefits (Tables)

6 Months Ended

Jun. 30, 2018

Defined Benefit Plan [Abstract]

Schedule of Net Benefit Costs

The components of the net periodic benefit cost for defined benefit and other post-retirement plans are as follows:

Combined U.S. and significant non-U.S. plans	Pension Benefits						Post-retirement Benefits
For the Three Months Ended June 30,
(In millions)	2018			2017			2018			2017
Service cost	$	7		$	19		$	—		$	—
Interest cost	117			124			1			1
Expected return on plan assets	(218		)	(230		)	—			—
Amortization of prior service cost	(1		)	(1		)	(1		)	—
Recognized actuarial loss	37			43			—			—
Net periodic benefit (credit) cost	$	(58	)	$	(45	)	$	—		$	1
Combined U.S. and significant non-U.S. plans	Pension Benefits						Post-retirement Benefits
For the Six Months Ended June 30,
(In millions)	2018			2017			2018			2017
Service cost	$	17		$	37		$	—		$	—
Interest cost	235			246			2			2
Expected return on plan assets	(439		)	(454		)	—			—
Amortization of prior service (credit) cost	(1		)	(1		)	(2		)	1
Recognized actuarial loss	74			83			—			—
Net periodic benefit (credit) cost	$	(114	)	$	(89	)	$	—		$	3
Curtailment gain	—			(1		)	—			—
Settlement loss	—			1			—			—
Total (credit) cost	$	(114	)	$	(89	)	$	—		$	3

As discussed in Note 17, effective January 1, 2018, the Company adopted the new guidance that changes the presentation of net periodic pension cost and net periodic postretirement cost (''net periodic benefit costs"). The new guidance requires employers to report the service cost component of net periodic benefit costs in the same line item as other compensation costs in the income statement. The other components of net periodic benefit costs are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. The new guidance requires retrospective application for the presentation of the service cost component and the other components of net periodic benefit costs. Accordingly, the Company has reclassified prior period information in the following chart to conform with the current year's presentation:

Amounts Recorded in the Consolidated Statement of Income
Combined U.S. and significant non-U.S. plans	Pension Benefits						Post-retirement Benefits
For the Three Months Ended June 30,
(In millions)	2018			2017			2018		2017
Compensation and benefits expense (Operating income)	$	7		$	19		$	—	$	—
Other net benefit credits	(65		)	(64		)	—		1
Total (credit) cost	$	(58	)	$	(45	)	$	—	$	1

Amounts Recorded in the Consolidated Statement of Income
Combined U.S. and significant non-U.S. plans	Pension Benefits						Post-retirement Benefits
For the Six Months Ended June 30,
(In millions)	2018			2017			2018		2017
Compensation and benefits expense (Operating income)	$	17		$	37		$	—	$	—
Other net benefit credits	(131		)	(126		)	—		3
Total (credit) cost	$	(114	)	$	(89	)	$	—	$	3

U.S. Plans only	Pension Benefits						Post-retirement Benefits
For the Three Months Ended June 30,
(In millions)	2018			2017			2018			2017
Service cost	$	—		$	—		$	—		$	—
Interest cost	59			66			1			1
Expected return on plan assets	(90		)	(90		)	—			—
Amortization of prior service (credit) cost	—			—			(1		)	1
Recognized actuarial loss (gain)	14			10			—			(1		)
Net periodic benefit (credit) cost	$	(17	)	$	(14	)	$	—		$	1

U.S. Plans only	Pension Benefits						Post-retirement Benefits
For the Six Months Ended June 30,
(In millions)	2018			2017			2018			2017
Service cost	$	—		$	—		$	—		$	—
Interest cost	118			132			1			1
Expected return on plan assets	(179		)	(179		)	—			—
Amortization of prior service (credit) cost	—			—			(1		)	2
Recognized actuarial loss (gain)	27			19			—			(1		)
Net periodic benefit (credit) cost	$	(34	)	$	(28	)	$	—		$	2

Significant non-U.S. plans only	Pension Benefits						Post-retirement Benefits
For the Three Months Ended June 30,
(In millions)	2018			2017			2018		2017
Service cost	$	7		$	19		$	—	$	—
Interest cost	58			58			—		—
Expected return on plan assets	(128		)	(140		)	—		—
Amortization of prior service cost	(1		)	(1		)	—		(1		)
Recognized actuarial loss	23			33			—		1
Net periodic benefit (credit) cost	$	(41	)	$	(31	)	$	—	$	—

Significant non-U.S. plans only	Pension Benefits						Post-retirement Benefits
For the Six Months Ended June 30,
(In millions)	2018			2017			2018			2017
Service cost	$	17		$	37		$	—		$	—
Interest cost	117			114			1			1
Expected return on plan assets	(260		)	(275		)	—			—
Amortization of prior service credit	(1		)	(1		)	(1		)	(1		)
Recognized actuarial loss	47			64			—			1
Net periodic benefit (credit) cost	$	(80	)	$	(61	)	$	—		$	1
Curtailment gain	—			(1		)	—			—
Settlement loss	—			1			—			—
Total (credit) cost	$	(80	)	$	(61	)	$	—		$	1

Schedule of Assumptions Used

The weighted average actuarial assumptions utilized to calculate the net periodic benefit costs for the U.S. and significant non-U.S. defined benefit plans are as follows:

Combined U.S. and significant non-U.S. plans	Pension Benefits				Post-retirement Benefits
June 30,	2018		2017		2018		2017
Weighted average assumptions:
Expected return on plan assets	5.83	%	6.64	%	—		—
Discount Rate	3.07	%	3.40	%	3.21	%	3.64	%
Rate of compensation increase	1.73	%	1.77	%	—		—