Retirement Benefits (Tables)

6 Months Ended

Jun. 30, 2019

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)	2019			2018			2019			2018
Service cost	$	10		$	7		$	—		$	—
Interest cost	121			117			—			1
Expected return on plan assets	(217		)	(218		)	—			—
Amortization of prior service (credit) cost	—			(1		)	—			(1		)
Recognized actuarial loss	26			37			—			—
Net periodic benefit credit	$	(60	)	$	(58	)	$	—		$	—
Combined U.S. and significant non-U.S. Plans	Pension Benefits						Post-retirement Benefits
For the Six Months Ended June 30,
(In millions)	2019			2018			2019			2018
Service cost	$	18		$	17		$	—		$	—
Interest cost	240			235			1			2
Expected return on plan assets	(430		)	(439		)	—			—
Amortization of prior service credit	—			(1		)	(1		)	(2		)
Recognized actuarial loss	52			74			—			—
Net periodic benefit credit	$	(120	)	$	(114	)	$	—		$	—
Settlement loss	4			—			—			—
Total credit	$	(116	)	$	(114	)	$	—		$	—

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)	2019			2018			2019		2018
Compensation and benefits expense (Operating income)	$	10		$	7		$	—	$	—
Other net benefit credits	(70		)	(65		)	—		—
Total credit	$	(60	)	$	(58	)	$	—	$	—

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)	2019			2018			2019		2018
Compensation and benefits expense (Operating income)	$	18		$	17		$	—	$	—
Other net benefit credits	(134		)	(131		)	—		—
Total credit	$	(116	)	$	(114	)	$	—	$	—

U.S. Plans only	Pension Benefits						Post-retirement Benefits
For the Three Months Ended June 30,
(In millions)	2019			2018			2019		2018
Interest cost	60			59			—		1
Expected return on plan assets	(85		)	(90		)	—		—
Amortization of prior service credit	—			—			—		(1		)
Recognized actuarial loss	11			14			—		—
Net periodic benefit credit	$	(14	)	$	(17	)	$	—	$	—

U.S. Plans only	Pension Benefits						Post-retirement Benefits
For the Six Months Ended June 30,
(In millions)	2019			2018			2019		2018
Interest cost	120			118			—		1
Expected return on plan assets	(171		)	(179		)	—		—
Amortization of prior service credit	—			—			—		(1		)
Recognized actuarial loss	22			27			—		—
Net periodic benefit (credit) cost	$	(29	)	$	(34	)	$	—	$	—

Significant non-U.S. Plans only	Pension Benefits						Post-retirement Benefits
For the Three Months Ended June 30,
(In millions)	2019			2018			2019		2018
Service cost	$	10		$	7		$	—	$	—
Interest cost	61			58			—		—
Expected return on plan assets	(132		)	(128		)	—		—
Amortization of prior service credit	—			(1		)	—		—
Recognized actuarial loss	15			23			—		—
Net periodic benefit credit	$	(46	)	$	(41	)	$	—	$	—

Significant non-U.S. Plans only	Pension Benefits						Post-retirement Benefits
For the Six Months Ended June 30,
(In millions)	2019			2018			2019			2018
Service cost	$	18		$	17		$	—		$	—
Interest cost	120			117			1			1
Expected return on plan assets	(259		)	(260		)	—			—
Amortization of prior service credit	—			(1		)	(1		)	(1		)
Recognized actuarial loss	30			47			—			—
Net periodic benefit credit	$	(91	)	$	(80	)	$	—		$	—
Settlement loss	4			—			—			—
Total credit	$	(87	)	$	(80	)	$	—		$	—

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,	2019		2018		2019		2018
Weighted average assumptions:
Expected return on plan assets	5.74	%	5.83	%	—		—
Discount Rate	3.48	%	3.07	%	3.65	%	3.21	%
Rate of compensation increase	1.74	%	1.73	%	—		—