Pension and Postretirement Benefit Plans

Amounts recognized in the Consolidated Balance Sheet and accumulated other comprehensive income

	Qualified and Non-qualified Pension Benefits												Postretirement
	United States						International						Benefits
(Millions)	2010			2009			2010			2009			2010			2009
Amounts recognized in the Consolidated Balance Sheet as of Dec. 31,
Non-current assets	$	—		$	—		$	74		$	78		$	—		$	—
Accrued benefit cost
Current liabilities	(30		)	(30		)	(7		)	(7		)	(4		)	(4		)
Non-current liabilities	(714		)	(868		)	(624		)	(859		)	(675		)	(500		)
Ending balance	$	(744	)	$	(898	)	$	(557	)	$	(788	)	$	(679	)	$	(504	)
Amounts recognized in accumulated other comprehensive income as of Dec. 31,
Net transition obligation (asset)	$	—		$	—		$	(7	)	$	(5	)	$	—		$	—
Net actuarial loss (gain)	3,981			3,975			1,670			1,650			1,063			1,059
Prior service cost (credit)	33			46			(144		)	(57		)	(341		)	(504		)
Ending balance	$	4,014		$	4,021		$	1,519		$	1,588		$	722		$	555

Components of net periodic benefit cost and other amounts recognized in other comprehensive income

	Qualified and Non-qualified Pension Benefits																		Postretirement
	United States									International									Benefits
(Millions)	2010			2009			2008			2010			2009			2008			2010			2009			2008

Net periodic benefit cost (benefit)
Service cost	$	201		$	183		$	192		$	105		$	98		$	120		$	55		$	51		$	53
Interest cost	638			619			597			241			235			252			88			97			100
Expected return on plan assets	(929		)	(906		)	(889		)	(278		)	(260		)	(305		)	(83		)	(86		)	(104		)
Amortization of transition (asset) obligation	—			—			—			1			3			3			—			—			—
Amortization of prior service cost (benefit)	13			16			15			(4		)	(4		)	(2		)	(94		)	(81		)	(97		)
Amortization of net actuarial (gain) loss	221			99			58			84			42			38			85			66			64
Net periodic benefit cost (benefit)	$	144		$	11		$	(27	)	$	149		$	114		$	106		$	51		$	47		$	16
Settlements, curtailments, special termination benefits and other	—			26			7			(22		)	25			3			—			—			—
Net periodic benefit cost (benefit) after settlements, curtailments, special termination benefits and other	$	144		$	37		$	(20	)	$	127		$	139		$	109		$	51		$	47		$	16
Other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss
Transition (asset) obligation	$	—		$	—		$	—		$	(1	)	$	(2	)	$	(1	)	$	—		$	—		$	—
Amortization of transition (asset) obligation	—			—			—			(1		)	(3		)	(3		)	—			—			—
Prior service cost (benefit)	—			—			9			(91		)	19			(37		)	69			(169		)	(148		)
Amortization of prior service cost (benefit)	(13		)	(16		)	(15		)	4			4			2			94			81			97
Net actuarial (gain) loss	227			585			2,337			104			224			622			89			36			385
Amortization of net actuarial (gain) loss	(221		)	(99		)	(58		)	(84		)	(42		)	(38		)	(85		)	(66		)	(64		)
Foreign currency	—			—			—			(19		)	(101		)	202			(1		)	(1		)	2
Total recognized in other comprehensive (income) loss	$	(7	)	$	470		$	2,273		$	(88	)	$	99		$	747		$	166		$	(119	)	$	272
Total recognized in net periodic benefit cost (benefit) and other comprehensive (income) loss	$	137		$	507		$	2,253		$	39		$	238		$	856		$	217		$	(72	)	$	288

Weighted-average assumptions used to determine benefit obligations and net cost

Weighted-average assumptions used to determine benefit obligations

	Qualified and Non-qualified Pension Benefits												Postretirement
	United States						International						Benefits
	2010		2009		2008		2010		2009		2008		2010		2009		2008

Discount rate	5.23	%	5.77	%	6.14	%	5.04	%	5.30	%	5.53	%	5.09	%	5.62	%	6.14	%
Compensation rate increase	4.00	%	4.30	%	4.30	%	3.59	%	3.72	%	3.50	%	N/A		N/A		N/A

As noted above, effective January 1, 2010, the Company made modifications to its postretirement health plan to limit the amount of inflation it will cover to three percent per year; the remaining inflation will be passed on to plan participants. Also, in 2010 the Company announced that it will transition all current and future retirees to the savings account benefits-based plan announced in 2008. Therefore, the Company no longer has material exposure to health care cost inflation.

Weighted-average assumptions used to determine net cost for years ended

	Qualified and Non-qualified Pension Benefits												Postretirement
	United States						International						Benefits
	2010		2009		2008		2010		2009		2008		2010		2009		2008

Discount rate	5.77	%	6.14	%	6.00	%	5.30	%	5.53	%	5.39	%	5.62	%	6.14	%	6.00	%
Expected return on assets	8.50	%	8.50	%	8.50	%	6.90	%	6.86	%	7.19	%	7.30	%	7.24	%	8.60	%
Compensation rate increase	4.30	%	4.30	%	4.30	%	3.72	%	3.50	%	3.82	%	N/A		N/A		N/A

Fair values of the assets held by the U.S. pension plans by asset category

(Millions)	Fair Value At Dec. 31,			Fair Value Measurements Using Inputs Considered as
Asset Class	2010			Level 1			Level 2			Level 3
Equities
U.S. equities	$	1,202		$	1,190		$	5		$	7
Non-U.S. equities	1,244			1,244			—			—
EAFE index funds	684			—			684			—
Index funds	253			—			253			—
Long/short equity	499			—			—			499
Total Equities	$	3,882		$	2,434		$	942		$	506
Fixed Income
U.S. government securities	$	1,035		$	562		$	473		$	—
Non-U.S. government securities	289			—			289			—
Preferred and convertible securities	28			20			8			—
U.S. corporate bonds	1,042			168			874			—
Non-U.S. corporate bonds	205			—			205			—
Asset backed securities	16			—			16			—
Collateralized mortgage obligations	31			—			31			—
Private placements	279			—			135			144
Derivative instruments	(55		)	(2		)	(53		)	—
Other	34			—			34			—
Total Fixed Income	$	2,904		$	748		$	2,012		$	144
Private Equity
Buyouts	$	613		$	—		$	—		$	613
Distressed debt	376			—			—			376
Growth equity	23			4			—			19
Mezzanine	93			—			—			93
Real estate	159			—			—			159
Secondary	165			—			—			165
Other	67			—			—			67
Venture capital	583			—			—			583
Total Private Equity	$	2,079		$	4		$	—		$	2,075
Absolute Return
Hedge funds and hedge fund of funds	$	1,201		$	—		$	1,142		$	59
Bank loan funds	564			—			—			564
Total Absolute Return	$	1,765		$	—		$	1,142		$	623
Commodities	$	449		$	—		$	338		$	111
Cash and Cash Equivalents	$	644		$	35		$	609		$	—
Total	$	11,723		$	3,221		$	5,043		$	3,459

Other items to reconcile to fair value of plan assets	$	(148	)
Fair value of plan assets	$	11,575

(Millions)	Fair Value At Dec. 31,			Fair Value Measurements Using Inputs Considered as
Asset Class	2009			Level 1		Level 2			Level 3
Equities
U.S. equities	$	1,215		$	1,206	$	6		$	3
Non-U.S. equities	1,128			1,128		—			—
EAFE index funds	633			—		633			—
Other	7			6		—			1
Total Equities	$	2,983		$	2,340	$	639		$	4
Fixed Income
U.S. government securities	$	891		$	610	$	281		$	—
Non-U.S. government securities	165			—		165			—
Preferred and convertible securities	29			20		9			—
U.S. corporate bonds	1,222			147		1,059			16
Non-U.S. corporate bonds	175			—		175			—
Asset backed securities	20			—		20			—
Collateralized mortgage obligations	56			—		56			—
Private placements	253			—		120			133
Derivative instruments	(50		)	6		(56		)	—
Other	36			—		—			36
Total Fixed Income	$	2,797		$	783	$	1,829		$	185
Private Equity
Buyouts	$	569		$	—	$	—		$	569
Distressed debt	359			—		—			359
Growth equity	32			32		—			—
Mezzanine	102			—		—			102
Real estate	134			—		—			134
Secondary	147			—		—			147
Other	137			4		—			133
Venture capital	517			—		—			517
Total Private Equity	$	1,997		$	36	$	—		$	1,961
Absolute Return
Hedge funds and hedge fund of funds	$	1,141		$	—	$	1,038		$	103
Bank loan funds	625			—		—			625
Total Absolute Return	$	1,766		$	—	$	1,038		$	728
Commodities	$	396		$	—	$	159		$	237
Cash and Cash Equivalents	$	696		$	552	$	144		$	—
Total	$	10,635		$	3,711	$	3,809		$	3,115

Other items to reconcile to fair value of plan assets	$	(142	)

Fair value of plan assets	$	10,493

Fair values of the assets held by the international pension plans by asset category

(Millions)	Fair Value At Dec. 31,			Fair Value Measurements Using Inputs Considered as
Asset Class	2010			Level 1		Level 2		Level 3
Equities
Growth equities	$	371		$	300	$	70	$	1
Value equities	396			369		27		—
Core equities	1,007			549		361		97
Total Equities	$	1,774		$	1,218	$	458	$	98
Fixed Income
Domestic government debt	$	656		$	194	$	455	$	7
Foreign government debt	398			51		345		2
Corporate debt securities	707			139		555		13
Mortgage backed debt	14			—		14		—
Other debt obligations	14			—		2		12
Total Fixed Income	$	1,789		$	384	$	1,371	$	34
Private Equity
Private equity funds	$	29		$	—	$	15	$	14
Real estate	59			—		3		56
Total Private Equity	$	88		$	—	$	18	$	70
Absolute Return
Hedge funds	$	130		$	—	$	130	$	—
Insurance	344			—		—		344
Derivatives	50			—		50		—
Other	3			—		3		—
Total Absolute Return	$	527		$	—	$	183	$	344
Cash and Cash Equivalents	$	242		$	233	$	9	$	—
Total	$	4,420		$	1,835	$	2,039	$	546

Other items to reconcile to fair value of plan assets	$	(65	)

Fair value of plan assets	$	4,355

(Millions)	Fair Value At Dec. 31,			Fair Value Measurements Using Inputs Considered as
Asset Class	2009			Level 1		Level 2		Level 3
Equities	$	1,619		$	1,330	$	275	$	14
Fixed Income
Domestic fixed income	$	928		$	283	$	623	$	22
Foreign fixed income	622			222		400		—
Total Fixed Income	$	1,550		$	505	$	1,023	$	22
Private Equity
Private equity funds	$	8		—		$	—	$	8
Real estate	54			—		3		51
Total Private Equity	$	62		—		$	3	$	59
Absolute Return
Insurance	$	375		$	—	$	—	$	375
Other	104			—		104		—
Total Absolute Return	$	479		$	—	$	104	$	375
Cash and Cash Equivalents	$	208		$	208	$	—	$	—
Total	$	3,918		$	2,043	$	1,405	$	470

Other items to reconcile to fair value of plan assets	$	(21	)

Fair value of plan assets	$	3,897

Fair values of the assets held by the postretirement benefits plans by asset category

(Millions)	Fair Value At Dec. 31,			Fair Value Measurements Using Inputs Considered as
Asset Class	2010			Level 1		Level 2			Level 3
Equities
U.S. equities	$	392		$	392	$	—		$	—
Non-U.S. equities	48			48		—			—
EAFE index funds	21			—		21			—
Index funds	45			—		45			—
Long/short equity	16			—		—			16
Total Equities	$	522		$	440	$	66		$	16
Fixed Income
U.S. government securities	$	210		$	50	$	160		$	—
Non-U.S. government securities	10			—		10			—
Preferred securities	1			1		—			—
U.S. corporate bonds	54			5		49			—
Non-U.S. corporate bonds	11			—		11			—
Asset backed securities	3			—		3			—
Collateralized mortgage obligations	7			—		7			—
Private placements	12			—		8			4
Derivative instruments	(2		)	—		(2		)	—
Other	2			—		2			—
Total Fixed Income	$	308		$	56	$	248		$	4
Private Equity
Buyouts	$	57		$	—	$	—		$	57
Distressed debt	18			—		—			18
Growth equity	1			—		—			1
Mezzanine	3			—		—			3
Real estate	5			—		—			5
Secondary	5			—		—			5
Other	43			—		—			43
Venture capital	94			—		—			94
Total Private Equity	$	226		$	—	$	—		$	226
Absolute Return
Hedge funds and hedge fund of funds	$	38		$	—	$	36		$	2
Bank loan funds	18			—		—			18
Total Absolute Return	$	56		$	—	$	36		$	20
Commodities	$	14		$	—	$	11		$	3
Cash and Cash Equivalents	$	43		$	1	$	42		$	—
Total	$	1,169		$	497	$	403		$	269

Other items to reconcile to fair value of plan assets	$	(20	)

Fair value of plan assets	$	1,149

(Millions)	Fair Value At Dec. 31,			Fair Value Measurements Using Inputs Considered as
Asset Class	2009			Level 1		Level 2			Level 3
Equities
U.S. equities	$	377		$	377	$	—		$	—
Non-U.S. equities	39			39		—			—
EAFE index funds	19			—		19			—
Index funds	31			—		31			—
Total Equities	$	466		$	416	$	50		$	—
Fixed Income
U.S. government securities	$	167		$	45	$	122		$	—
Non-U.S. government securities	5			—		5			—
Preferred securities	1			1		—			—
U.S. corporate bonds	63			4		59			—
Non-U.S. corporate bonds	10			—		10			—
Asset backed securities	2			—		2			—
Collateralized mortgage obligations	7			—		7			—
Private placements	11			—		7			4
Derivative instruments	(2		)	—		(2		)	—
Other	2			—		—			2
Total Fixed Income	$	266		$	50	$	210		$	6
Private equity
Buyouts	$	52		$	—	$	—		$	52
Distressed debt	17			—		—			17
Growth equity	1			1		—			—
Mezzanine	3			—		—			3
Real estate	4			—		—			4
Secondary	5			—		—			5
Other	75			—		—			75
Venture capital	89			—		—			89
Total Private Equity	$	246		$	1	$	—		$	245
Absolute Return
Hedge funds and hedge fund of funds	$	34		$	—	$	31		$	3
Bank loan funds	19			—		—			19
Total Absolute Return	$	53		$	—	$	31		$	22
Commodities	$	12		$	—	$	5		$	7
Cash and Cash Equivalents	$	48		$	43	$	5		$	—
Total	$	1,091		$	510	$	301		$	280

Other items to reconcile to fair value of plan assets	$	(16	)

Fair value of plan assets	$	1,075