Pension and Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2012

Pension and Postretirement Benefit Plans

Reconciliation of the beginning and ending balances of the benefit obligation and the fair value of plan assets

			Qualified and Non-qualified
			Pension Benefits								Postretirement
			United States				International				Benefits
(Millions)			2012		2011		2012		2011		2012		2011
Change in benefit obligation
	Benefit obligation at beginning of year		$	14,499	$	12,319	$	5,332	$	4,912	$	2,108	$	1,828
	Acquisitions			11		―		26		48		―		―
	Service cost			254		206		124		124		78		61
	Interest cost			587		626		247		261		86		92
	Participant contributions			―		―		5		5		52		56
	Foreign exchange rate changes			―		―		83		(84)		(2)		(9)
	Plan amendments			―		8		(7)		(31)		―		―
	Actuarial (gain) loss			179		2,022		882		318		31		228
	Medicare Part D Reimbursement			―		―		―		―		8		7
	Benefit payments			(726)		(680)		(278)		(221)		(156)		(155)
	Settlements, curtailments, special
		termination benefits and other		26		(2)		―		―		―		―
	Benefit obligation at end of year		$	14,830	$	14,499	$	6,414	$	5,332	$	2,205	$	2,108
Change in plan assets
	Fair value of plan assets at
		beginning of year	$	12,102	$	11,575	$	4,643	$	4,355	$	1,209	$	1,149
	Acquisitions			8		―		―		26		―		―
	Actual return on plan assets			1,645		972		463		272		149		94
	Company contributions			752		237		327		280		67		65
	Participant contributions			―		―		5		5		52		56
	Foreign exchange rate changes			―		―		62		(74)		―		―
	Benefit payments			(726)		(680)		(278)		(221)		(156)		(155)
	Settlements, curtailments, special
		termination benefits and other		―		(2)		―		―		―		―
	Fair value of plan assets at end of year		$	13,781	$	12,102	$	5,222	$	4,643	$	1,321	$	1,209
Funded status at end of year			$	(1,049)	$	(2,397)	$	(1,192)	$	(689)	$	(884)	$	(899)

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

			Qualified and Non-qualified
			Pension Benefits								Postretirement
			United States				International				Benefits
(Millions)			2012		2011		2012		2011		2012		2011
Amounts recognized in the
	Consolidated Balance Sheet as of
	Dec. 31,
	Non-current assets		$	―	$	―	$	16	$	40	$	―	$	―
	Accrued benefit cost
		Current liabilities		(43)		(41)		(8)		(8)		(4)		(4)
		Non-current liabilities		(1,006)		(2,356)		(1,200)		(721)		(880)		(895)
	Ending balance		$	(1,049)	$	(2,397)	$	(1,192)	$	(689)	$	(884)	$	(899)
Amounts recognized in accumulated
	other comprehensive income as of
	Dec. 31,
	Net transition obligation (asset)		$	―	$	―	$	(5)	$	(8)	$	―	$	―
	Net actuarial loss (gain)			4,679		5,623		2,458		1,858		1,028		1,171
	Prior service cost (credit)			24		30		(150)		(167)		(197)		(269)
	Ending balance		$	4,703	$	5,653	$	2,303	$	1,683	$	831	$	902

Amounts relating to pension plans with accumulated benefit obligations in excess of plan assets

	Qualified and Non-qualified Pension Plans
	United States				International
(Millions)	2012		2011		2012		2011
Projected benefit obligation	$	505	$	14,499	$	5,122	$	2,983
Accumulated benefit obligation		492		13,804		4,808		2,740
Fair value of plan assets		8		12,102		4,038		2,321

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

Components of net periodic cost and other amounts recognized in other comprehensive income
			Qualified and Non-qualified
			Pension Benefits												Postretirement
			United States						International						Benefits
(Millions)			2012		2011		2010		2012		2011		2010		2012		2011		2010
Net periodic benefit cost (benefit)
	Service cost		$	254	$	206	$	201	$	124	$	124	$	105	$	78	$	61	$	55
	Interest cost			587		626		638		247		261		241		86		92		88
	Expected return on plan assets			(992)		(927)		(929)		(295)		(289)		(278)		(84)		(77)		(83)
	Amortization of transition
		(asset) obligation		―		―		―		(1)		(2)		1		―		―		―
	Amortization of prior service
		cost (benefit)		5		11		13		(17)		(14)		(4)		(72)		(72)		(94)
	Amortization of net actuarial (gain)
		loss		470		334		221		122		116		84		108		102		85
Net periodic benefit cost (benefit)			$	324	$	250	$	144	$	180	$	196	$	149	$	116	$	106	$	51
Settlements, curtailments, special
	termination benefits and other			26		1		―		4		2		(22)		―		―		―
Net periodic benefit cost (benefit)
	after settlements, curtailments,
	special termination benefits
	and other		$	350	$	251	$	144	$	184	$	198	$	127	$	116	$	106	$	51
Other changes in plan assets and
	benefit obligations recognized in
	other comprehensive (income)
	loss
	Transition (asset) obligation		$	―	$	―	$	―	$	―	$	(2)	$	(1)	$	―	$	―	$	―
	Amortization of transition (asset)
		obligation		―		―		―		1		2		(1)		―		―		―
	Prior service cost (benefit)			―		8		―		(7)		(32)		(91)		―		―		69
	Amortization of prior service cost
		(benefit)		(5)		(11)		(13)		17		14		4		72		72		94
	Net actuarial (gain) loss			(470)		1,976		227		707		315		104		(33)		212		89
	Amortization of net actuarial (gain)
		loss		(470)		(334)		(221)		(122)		(116)		(84)		(108)		(102)		(85)
	Foreign currency			―		―		―		24		(17)		(19)		(1)		(2)		(1)
Total recognized in other
	comprehensive (income) loss		$	(945)	$	1,639	$	(7)	$	620	$	164	$	(88)	$	(70)	$	180	$	166
Total recognized in net periodic
	benefit cost (benefit) and other
	comprehensive (income) loss		$	(595)	$	1,890	$	137	$	804	$	362	$	39	$	46	$	286	$	217

Amounts expected to be amortized from accumulated other comprehensive income into net periodic benefit costs over next fiscal year

Amounts expected to be amortized from accumulated other comprehensive income into net periodic benefit costs over the next fiscal year
	Qualified and Non-qualified Pension Benefits
							Postretirement
(Millions)	United States		International		Benefits
Amortization of transition (asset) obligation	$	―	$	(1)	$	―
Amortization of prior service cost (benefit)		5		(17)		(66)
Amortization of net actuarial (gain) loss		399		159		96
Total amortization expected over the next fiscal year	$	404	$	141	$	30

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
		2012		2011		2010		2012		2011		2010		2012		2011		2010
Discount rate		4.14	%	4.15	%	5.23	%	3.78	%	4.58	%	5.04	%	4.00	%	4.04	%	5.09	%
Compensation rate
	increase	4.00	%	4.00	%	4.00	%	3.31	%	3.52	%	3.59	%	N/A		N/A		N/A

Weighted-average assumptions used to determine net cost for years ended
		Qualified and Non-qualified Pension Benefits												Postretirement
		United States						International						Benefits
		2012		2011		2010		2012		2011		2010		2012		2011		2010
Discount rate		4.15	%	5.23	%	5.77	%	4.58	%	5.04	%	5.30	%	4.04	%	5.09	%	5.62	%
Expected return
	on assets	8.25	%	8.50	%	8.50	%	6.38	%	6.58	%	6.90	%	7.30	%	7.38	%	7.30	%
Compensation rate
	increase	4.00	%	4.00	%	4.30	%	3.52	%	3.59	%	3.72	%	N/A		N/A		N/A

Estimated future pension and postretirement benefit payments

Future Pension and Postretirement Benefit Payments
The following table provides the estimated pension and postretirement benefit payments that are payable from the plans to participants.
	Qualified and Non-qualified
	Pension Benefits				Postretirement
(Millions)	United States		International		Benefits
2013 Benefit Payments	$	760	$	211	$	113
2014 Benefit Payments		784		223		126
2015 Benefit Payments		808		236		138
2016 Benefit Payments		831		248		153
2017 Benefit Payments		854		256		154
Following five years		4,566		1,463		787

United States Qualified and Non-qualified Pension Benefits

Defined Benefit Plans and Other Postretirement Benefit Plans

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

			Fair Value Measurements Using Inputs Considered as												Fair Value at
(Millions)			Level 1				Level 2				Level 3				Dec. 31,
Asset Class			2012		2011		2012		2011		2012		2011		2012		2011
Equities
	U.S. equities		$	1,662	$	1,186	$	11	$	14	$	5	$	5	$	1,678	$	1,205
	Non-U.S. equities			1,332		1,095		―		1		―		―		1,332		1,096
	Derivatives			―		―		5		(3)		―		―		5		(3)
	EAFE index funds			―		―		250		476		―		―		250		476
	Index funds			―		―		156		128		1		1		157		129
	Long/short equity			―		―		―		―		477		436		477		436
Total Equities			$	2,994	$	2,281	$	422	$	616	$	483	$	442	$	3,899	$	3,339
Fixed Income
	U.S. government securities		$	844	$	776	$	796	$	869	$	―	$	―	$	1,640	$	1,645
	Non-U.S. government
		securities		―		―		378		314		―		―		378		314
	Preferred and convertible
		securities		4		4		―		5		―		―		4		9
	U.S. corporate bonds			196		168		1,249		1,049		―		5		1,445		1,222
	Non-U.S. corporate bonds			―		―		286		244		―		―		286		244
	Asset-backed securities			―		―		21		23		―		―		21		23
	Collateralized mortgage
		obligations		―		―		43		137		―		―		43		137
	Private placements			―		―		164		125		2		69		166		194
	Derivative instruments			―		2		76		200		―		―		76		202
	Other			―		―		29		24		―		―		29		24
Total Fixed Income			$	1,044	$	950	$	3,042	$	2,990	$	2	$	74	$	4,088	$	4,014
Private Equity
	Buyouts		$	―	$	―	$	―	$	―	$	662	$	618	$	662	$	618
	Derivative instruments			―		―		―		―		(51)		―		(51)		―
	Direct investments			―		―		―		―		129		―		129		―
	Distressed debt			―		―		―		―		301		333		301		333
	Growth equity			7		1		―		―		84		27		91		28
	Mezzanine			―		―		―		―		82		90		82		90
	Real estate			―		―		―		―		136		148		136		148
	Secondary			―		―		―		―		166		181		166		181
	Venture capital			―		―		―		―		627		665		627		665
Total Private Equity			$	7	$	1	$	―	$	―	$	2,136	$	2,062	$	2,143	$	2,063
Absolute Return
	Hedge funds and hedge fund of
		funds	$	―	$	―	$	833	$	1,235	$	664	$	88	$	1,497	$	1,323
	Bank loan and other fixed
		income funds		―		―		―		―		201		432		201		432
Total Absolute Return			$	―	$	―	$	833	$	1,235	$	865	$	520	$	1,698	$	1,755
Commodities			$	―	$	―	$	102	$	435	$	107	$	105	$	209	$	540
Cash and Cash Equivalents			$	429	$	295	$	1,547	$	600	$	―	$	―	$	1,976	$	895
Total			$	4,474	$	3,527	$	5,946	$	5,876	$	3,593	$	3,203	$	14,013	$	12,606
Other items to reconcile to fair
	value of plan assets														$	(232)	$	(504)
Fair value of plan assets															$	13,781	$	12,102

Summary of changes in the fair values of the plans level 3 assets

		Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
		Equities		Fixed Income		Private Equity		Absolute Return		Commodities		Total
(Millions)
Beginning balance at Jan. 1, 2011		$	506	$	144	$	2,075	$	623	$	111	$	3,459
Net transfers into / (out of) level 3			―		5		―		(59)		―		(54)
Purchases, sales, issuances, and
	settlements, net		(52)		(97)		(108)		3		―		(254)
Realized gain / (loss)			3		21		(50)		5		―		(21)
Change in unrealized gains / (losses)
	relating to instruments sold during
	the period		(8)		(17)		133		(36)		―		72
Change in unrealized gains / (losses)
	relating to instruments still held at
	the reporting date		(7)		18		12		(16)		(6)		1
Ending balance at Dec. 31, 2011			442		74		2,062		520		105		3,203
Net transfers into / (out of) level 3			―		(5)		―		472		―		467
Purchases, sales, issuances, and
	settlements, net		(1)		(73)		(108)		(225)		―		(407)
Realized gain / (loss)			―		25		120		76		―		221
Change in unrealized gains / (losses)
	relating to instruments sold during
	the period		(1)		(19)		(3)		(49)		(1)		(73)
Change in unrealized gains / (losses)
	relating to instruments still held at
	the reporting date		43		―		65		71		3		182
Ending balance at Dec. 31, 2012		$	483	$	2	$	2,136	$	865	$	107	$	3,593

International Qualified and Non-qualified Pension Benefits

Defined Benefit Plans and Other Postretirement Benefit Plans

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

		Fair Value Measurements Using Inputs Considered as												Fair Value at
(Millions)		Level 1				Level 2				Level 3				Dec. 31,
Asset Class		2012		2011		2012		2011		2012		2011		2012		2011
Equities
	Growth equities	$	628	$	374	$	133	$	141	$	―	$	―	$	761	$	515
	Value equities		468		401		23		98		―		―		491		499
	Core equities		88		227		376		430		5		5		469		662
Total Equities		$	1,184	$	1,002	$	532	$	669	$	5	$	5	$	1,721	$	1,676
Fixed Income
	Domestic government debt	$	297	$	188	$	694	$	579	$	―	$	6	$	991	$	773
	Foreign government debt		170		93		445		647		2		2		617		742
	Corporate debt securities		―		113		630		404		18		19		648		536
	Mortgage backed debt		―		―		31		25		―		―		31		25
	Other debt obligations		―		―		268		39		16		12		284		51
Total Fixed Income		$	467	$	394	$	2,068	$	1,694	$	36	$	39	$	2,571	$	2,127
Private Equity
	Private equity funds	$	―	$	―	$	―	$	47	$	22	$	20	$	22	$	67
	Real estate		3		3		42		38		49		47		94		88
Total Private Equity		$	3	$	3	$	42	$	85	$	71	$	67	$	116	$	155
Absolute Return
	Hedge funds	$	―	$	―	$	75	$	172	$	50	$	―	$	125	$	172
	Insurance		―		―		―		―		433		369		433		369
	Derivatives		―		―		20		58		―		―		20		58
	Other		―		―		24		2		2		1		26		3
Total Absolute Return		$	―	$	―	$	119	$	232	$	485	$	370	$	604	$	602
Cash and Cash Equivalents		$	211	$	106	$	21	$	2	$	―	$	―	$	232	$	108
Total		$	1,865	$	1,505	$	2,782	$	2,682	$	597	$	481	$	5,244	$	4,668
Other items to reconcile to fair
	value of plan assets													$	(22)	$	(25)
Fair value of plan assets														$	5,222	$	4,643

Summary of changes in the fair values of the plans level 3 assets

		Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
		Equities		Fixed Income		Private Equity		Absolute Return		Total
(Millions)
Beginning balance at Jan. 1, 2011		$	98	$	34	$	70	$	344	$	546
Net transfers into / (out of) level 3			(93)		―		(21)		18		(96)
Foreign currency exchange			―		(1)		(1)		(10)		(12)
Purchases, sales, issuances, and
	settlements, net		―		―		17		3		20
Realized gain / (loss)			―		―		―		1		1
Change in unrealized gains / (losses)
	relating to instruments sold during
	the period		―		―		―		―		―
Change in unrealized gains / (losses)
	relating to instruments still held at
	the reporting date		―		6		2		14		22
Ending balance at Dec. 31, 2011			5		39		67		370		481
Net transfers into / (out of) level 3			―		―		―		―		―
Foreign currency exchange			―		2		(4)		2		―
Purchases, sales, issuances, and
	settlements, net		―		(2)		11		92		101
Realized gain / (loss)			―		―		―		―		―
Change in unrealized gains / (losses)
	relating to instruments sold during
	the period		―		―		―		―		―
Change in unrealized gains / (losses)
	relating to instruments still held at
	the reporting date		―		(3)		(3)		21		15
Ending balance at Dec. 31, 2012		$	5	$	36	$	71	$	485	$	597

Postretirement Benefits

Defined Benefit Plans and Other Postretirement Benefit Plans

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

			Fair Value Measurements Using Inputs Considered as												Fair Value at
(Millions)			Level 1				Level 2				Level 3				Dec. 31,
Asset Class			2012		2011		2012		2011		2012		2011		2012		2011
Equities
	U.S. equities		$	466	$	396	$	―	$	―	$	―	$	―	$	466	$	396
	Non-U.S. equities			54		44		―		―		―		―		54		44
	EAFE index funds			―		―		8		15		―		―		8		15
	Index funds			―		―		42		43		―		―		42		43
	Long/short equity			―		―		―		―		16		14		16		14
Total Equities			$	520	$	440	$	50	$	58	$	16	$	14	$	586	$	512
Fixed Income
	U.S. government securities		$	63	$	55	$	217	$	197	$	―	$	―	$	280	$	252
	Non-U.S. government
		securities		―		―		16		12		―		―		16		12
	U.S. corporate bonds			6		6		68		62		―		―		74		68
	Non-U.S. corporate bonds			―		―		16		14		―		―		16		14
	Asset-backed securities			―		―		6		5		―		―		6		5
	Collateralized mortgage
		obligations		―		―		4		7		―		―		4		7
	Private placements			―		―		11		9		―		2		11		11
	Derivative instruments			―		―		2		7		―		―		2		7
	Other			―		―		1		1		―		―		1		1
Total Fixed Income			$	69	$	61	$	341	$	314	$	―	$	2	$	410	$	377
Private Equity
	Buyouts		$	―	$	―	$	―	$	―	$	51	$	56	$	51	$	56
	Derivative instruments			―		―		―		―		(2)		―		(2)		―
	Direct investments			―		―		―		―		4		―		4		―
	Distressed debt			―		―		―		―		11		17		11		17
	Growth equity			―		―		―		―		3		1		3		1
	Mezzanine			―		―		―		―		3		3		3		3
	Real estate			―		―		―		―		4		4		4		4
	Secondary			―		―		―		―		5		6		5		6
	Venture capital			―		―		―		―		91		100		91		100
Total Private Equity			$	―	$	―	$	―	$	―	$	170	$	187	$	170	$	187
Absolute Return
	Hedge funds and hedge fund of
		funds	$	―	$	―	$	27	$	40	$	21	$	3	$	48	$	43
	Bank loan and other fixed
		income funds		―		―		―		―		7		14		7		14
Total Absolute Return			$	―	$	―	$	27	$	40	$	28	$	17	$	55	$	57
Commodities			$	―	$	―	$	3	$	14	$	4	$	4	$	7	$	18
Cash and Cash Equivalents			$	51	$	10	$	50	$	51	$	―	$	―	$	101	$	61
Total			$	640	$	511	$	471	$	477	$	218	$	224	$	1,329	$	1,212
Other items to reconcile to fair
	value of plan assets														$	(8)	$	(3)
Fair value of plan assets															$	1,321	$	1,209

Summary of changes in the fair values of the plans level 3 assets

		Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
		Equities		Fixed Income		Private Equity		Absolute Return		Commodities		Total
(Millions)
Beginning balance at Jan. 1, 2011		$	16	$	4	$	226	$	20	$	3	$	269
Net transfers into / (out of) level 3			―		―		―		(2)		―		(2)
Purchases, sales, issuances, and
	settlements, net		(1)		(3)		(43)		1		―		(46)
Realized gain / (loss)			―		1		(31)		―		―		(30)
Change in unrealized gains / (losses)
	relating to instruments sold during
	the period		(1)		(1)		20		(1)		―		17
Change in unrealized gains / (losses)
	relating to instruments still held at
	the reporting date		―		1		15		(1)		1		16
Ending balance at Dec. 31, 2011			14		2		187		17		4		224
Net transfers into / (out of) level 3			―		―		―		15		―		15
Purchases, sales, issuances, and
	settlements, net		―		(2)		(27)		(7)		―		(36)
Realized gain / (loss)			―		1		11		2		―		14
Change in unrealized gains / (losses)
	relating to instruments sold during
	the period		―		(1)		(4)		(1)		―		(6)
Change in unrealized gains / (losses)
	relating to instruments still held at
	the reporting date		2		―		3		2		―		7
Ending balance at Dec. 31, 2012		$	16	$	―	$	170	$	28	$	4	$	218