Retirement Benefits (Tables)

9 Months Ended

Sep. 30, 2018

Defined Benefit Plan [Abstract]

Schedule of Net Benefit Costs

Significant non-U.S. Plans only	Pension Benefits						Post-retirement Benefits
For the Three Months Ended September 30,
(In millions)	2018			2017			2018			2017
Service cost	$	8		$	19		$	1		$	—
Interest cost	56			59			—			1
Expected return on plan assets	(124		)	(143		)	—			—
Amortization of prior service (credit) cost	—			—			(1		)	—
Recognized actuarial loss	22			33			1			—
Net periodic benefit (credit) cost	$	(38	)	$	(32	)	$	1		$	1
Settlement loss	—			1			—			—
Total (credit) cost	$	(38	)	$	(31	)	$	1		$	1

Significant non-U.S. plans only	Pension Benefits						Post-retirement Benefits
For the Nine Months Ended September 30,
(In millions)	2018			2017			2018			2017
Service cost	$	25		$	56		$	1		$	—
Interest cost	173			173			1			2
Expected return on plan assets	(384		)	(418		)	—			—
Amortization of prior service credit	(1		)	(1		)	(2		)	(1		)
Recognized actuarial loss	69			97			1			1
Net periodic benefit (credit) cost	$	(118	)	$	(93	)	$	1		$	2
Curtailment gain	—			(1		)	—			—
Settlement loss	—			2			—			—
Total (credit) cost	$	(118	)	$	(92	)	$	1		$	2

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 September 30,
(In millions)	2018			2017			2018			2017
Service cost	$	8		$	19		$	1		$	—
Interest cost	114			125			—			1
Expected return on plan assets	(213		)	(232		)	—			—
Amortization of prior service (credit) cost	—			—			(1		)	1
Recognized actuarial loss	36			42			1			—
Net periodic benefit (credit) cost	$	(55	)	$	(46	)	$	1		$	2
Settlement loss	—			1			—			—
Total (credit) cost	$	(55	)	$	(45	)	$	1		$	2
Combined U.S. and significant non-U.S. plans	Pension Benefits						Post-retirement Benefits
For the Nine Months Ended September 30,
(In millions)	2018			2017			2018			2017
Service cost	$	25		$	56		$	1		$	—
Interest cost	349			371			2			3
Expected return on plan assets	(652		)	(686		)	—			—
Amortization of prior service (credit) cost	(1		)	(1		)	(3		)	2
Recognized actuarial loss	110			125			1			—
Net periodic benefit (credit) cost	$	(169	)	$	(135	)	$	1		$	5
Curtailment gain	—			(1		)	—			—
Settlement loss	—			2			—			—
Total (credit) cost	$	(169	)	$	(134	)	$	1		$	5

As discussed in Note 18, effective January 1, 2018, the Company adopted the new guidance that changes the presentation of net periodic pension cost and net periodic post-retirement 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 September 30,
(In millions)	2018			2017			2018		2017
Compensation and benefits expense (Operating income)	$	8		$	19		$	1	$	—
Other net benefit (credits) cost	(63		)	(64		)	—		2
Total (credit) cost	$	(55	)	$	(45	)	$	1	$	2

Amounts Recorded in the Consolidated Statement of Income
Combined U.S. and significant non-U.S. plans	Pension Benefits						Post-retirement Benefits
For the Nine Months Ended September 30,
(In millions)	2018			2017			2018		2017
Compensation and benefits expense (Operating income)	$	25		$	56		$	1	$	—
Other net benefit (credits) cost	(194		)	(190		)	—		5
Total (credit) cost	$	(169	)	$	(134	)	$	1	$	5

U.S. Plans only	Pension Benefits						Post-retirement Benefits
For the Three Months Ended September 30,
(In millions)	2018			2017			2018		2017
Service cost	$	—		$	—		$	—	$	—
Interest cost	58			66			—		—
Expected return on plan assets	(89		)	(89		)	—		—
Amortization of prior service (credit) cost	—			—			—		1
Recognized actuarial loss (gain)	14			9			—		—
Net periodic benefit (credit) cost	$	(17	)	$	(14	)	$	—	$	1

U.S. Plans only	Pension Benefits						Post-retirement Benefits
For the Nine Months Ended September 30,
(In millions)	2018			2017			2018			2017
Service cost	$	—		$	—		$	—		$	—
Interest cost	176			198			1			1
Expected return on plan assets	(268		)	(268		)	—			—
Amortization of prior service (credit) cost	—			—			(1		)	3
Recognized actuarial loss (gain)	41			28			—			(1		)
Net periodic benefit (credit) cost	$	(51	)	$	(42	)	$	—		$	3

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
September 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	%	—		—