Pension and Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

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)			2013		2012		`	2013		2012		2013		2012
Change in benefit obligation
	Benefit obligation at beginning of year		$	14,830	$	14,499		$	6,414	$	5,332	$	2,205	$	2,108
	Acquisitions/Transfers in			15		11			―		26		―		―
	Service cost			258		254			147		124		80		78
	Interest cost			598		587			238		247		88		86
	Participant contributions			―		―			8		5		30		52
	Foreign exchange rate changes			―		―			(79)		83		(13)		(2)
	Plan amendments			―		―			3		(7)		(20)		―
	Actuarial (gain) loss			(986)		179			(163)		882		(225)		31
	Medicare Part D Reimbursement			―		―			―		―		2		8
	Benefit payments			(747)		(726)			(222)		(278)		(130)		(156)
	Settlements, curtailments, special
		termination benefits and other		(1)		26			―		―		―		―
	Benefit obligation at end of year		$	13,967	$	14,830		$	6,346	$	6,414	$	2,017	$	2,205
Change in plan assets
	Fair value of plan assets at
		beginning of year	$	13,781	$	12,102		$	5,222	$	4,643	$	1,321	$	1,209
	Acquisitions			―		8			―		―		―		―
	Actual return on plan assets			803		1,645			421		463		178		149
	Company contributions			53		752			423		327		6		67
	Participant contributions			―		―			8		5		30		52
	Foreign exchange rate changes			―		―			(94)		62		―		―
	Benefit payments			(747)		(726)			(222)		(278)		(130)		(156)
	Settlements, curtailments, special
		termination benefits and other		(1)		―			―		―		―		―
	Fair value of plan assets at end of year		$	13,889	$	13,781		$	5,758	$	5,222	$	1,405	$	1,321
Funded status at end of year			$	(78)	$	(1,049)		$	(588)	$	(1,192)	$	(612)	$	(884)

Amounts recognized in the Consolidated Balance Sheet

			Qualified and Non-qualified
			Pension Benefits								Postretirement
			United States				International				Benefits
(Millions)			2013		2012		2013		2012		2013		2012
Amounts recognized in the
	Consolidated Balance Sheet as of
	Dec. 31,
	Non-current assets		$	399	$	―	$	178	$	16	$	―	$	―
	Accrued benefit cost
		Current liabilities		(47)		(43)		(10)		(8)		(4)		(4)
		Non-current liabilities		(430)		(1,006)		(756)		(1,200)		(608)		(880)
	Ending balance		$	(78)	$	(1,049)	$	(588)	$	(1,192)	$	(612)	$	(884)

Amounts recognized in accumulated other comprehensive income

Amounts recognized in accumulated
	other comprehensive income as of
	Dec. 31,
	Net transition obligation (asset)	$	―	$	―	$	(4)	$	(5)	$	―	$	―
	Net actuarial loss (gain)		3,537		4,679		1,949		2,458		616		1,028
	Prior service cost (credit)		20		24		(117)		(150)		(151)		(197)
	Ending balance	$	3,557	$	4,703	$	1,828	$	2,303	$	465	$	831

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

	Qualified and Non-qualified Pension Plans
	United States				International
(Millions)	2013		2012		2013		2012
Projected benefit obligation	$	486	$	505	$	2,198	$	5,122
Accumulated benefit obligation		463		492		1,960		4,808
Fair value of plan assets		9		8		1,547		4,038

Components of net periodic benefit cost (benefit)

Components of net periodic cost and other amounts recognized in other comprehensive income
Net periodic benefit cost is recorded in cost of sales, selling, general and administrative expenses, and research, development and related expenses. Components of net periodic benefit cost and other changes in plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31 follow:
			Qualified and Non-qualified
			Pension Benefits												Postretirement
			United States						International						Benefits
(Millions)			2013		2012		2011		2013		2012		2011		2013		2012		2011
Net periodic benefit cost (benefit)
	Service cost		$	258	$	254	$	206	$	147	$	124	$	124	$	80	$	78	$	61
	Interest cost			598		587		626		238		247		261		88		86		92
	Expected return on plan assets			(1,046)		(992)		(927)		(291)		(295)		(289)		(90)		(84)		(77)
	Amortization of transition
		(asset) obligation		―		―		―		(1)		(1)		(2)		―		―		―
	Amortization of prior service
		cost (benefit)		5		5		11		(16)		(17)		(14)		(66)		(72)		(72)
	Amortization of net actuarial (gain)
		loss		399		470		334		153		122		116		95		108		102
Net periodic benefit cost (benefit)			$	214	$	324	$	250	$	230	$	180	$	196	$	107	$	116	$	106
Settlements, curtailments, special
	termination benefits and other			―		26		1		2		4		2		―		―		―
Net periodic benefit cost (benefit)
	after settlements, curtailments,
	special termination benefits
	and other		$	214	$	350	$	251	$	232	$	184	$	198	$	107	$	116	$	106
Other changes in plan assets and
	benefit obligations recognized in
	other comprehensive (income)
	loss
	Transition (asset) obligation		$	―	$	―	$	―	$	―	$	―	$	(2)	$	―	$	―	$	―
	Amortization of transition (asset)
		obligation		―		―		―		1		1		2		―		―		―
	Prior service cost (benefit)			―		―		8		3		(7)		(32)		(20)		―		―
	Amortization of prior service cost
		(benefit)		(5)		(5)		(11)		16		17		14		66		72		72
	Net actuarial (gain) loss			(743)		(470)		1,976		(294)		707		315		(313)		(33)		212
	Amortization of net actuarial (gain)
		loss		(399)		(470)		(334)		(153)		(122)		(116)		(95)		(108)		(102)
	Foreign currency			―		―		―		(47)		24		(17)		(2)		(1)		(2)
Total recognized in other
	comprehensive (income) loss		$	(1,147)	$	(945)	$	1,639	$	(474)	$	620	$	164	$	(364)	$	(70)	$	180
Total recognized in net periodic
	benefit cost (benefit) and other
	comprehensive (income) loss		$	(933)	$	(595)	$	1,890	$	(242)	$	804	$	362	$	(257)	$	46	$	286

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	$	(1)	$	―
Amortization of prior service cost (benefit)		4		(16)		(48)
Amortization of net actuarial (gain) loss		242		123		57
Total amortization expected over the next fiscal year	$	247	$	106	$	9

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
		2013		2012		2011		2013		2012		2011		2013		2012		2011
Discount rate		4.98	%	4.14	%	4.15	%	4.02	%	3.78	%	4.58	%	4.83	%	4.00	%	4.04	%
Compensation rate
	increase	4.00	%	4.00	%	4.00	%	3.35	%	3.31	%	3.52	%	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
		2013		2012		2011		2013		2012		2011		2013		2012		2011
Discount rate		4.14	%	4.15	%	5.23	%	3.78	%	4.58	%	5.04	%	4.00	%	4.04	%	5.09	%
Expected return
	on assets	8.00	%	8.25	%	8.50	%	5.87	%	6.38	%	6.58	%	7.19	%	7.30	%	7.38	%
Compensation rate
	increase	4.00	%	4.00	%	4.00	%	3.31	%	3.52	%	3.59	%	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
2014 Benefit Payments	$	782	$	225	$	125
2015 Benefit Payments		810		236		135
2016 Benefit Payments		837		254		151
2017 Benefit Payments		861		259		151
2018 Benefit Payments		884		284		151
Following five years		4,729		1,658		775

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

The fair values of the assets held by the U.S. pension plans by asset class are as follows:
			Fair Value Measurements Using Inputs Considered as												Fair Value at
(Millions)			Level 1				Level 2				Level 3				Dec. 31,
Asset Class			2013		2012		2013		2012		2013		2012		2013		2012
Equities
	U.S. equities		$	1,595	$	1,662	$	3	$	11	$	3	$	5	$	1,601	$	1,678
	Non-U.S. equities			1,324		1,332		1		―		―		―		1,325		1,332
	Derivatives			―		―		―		5		―		―		―		5
	EAFE index funds			―		―		―		250		―		―		―		250
	Index funds			―		―		151		156		1		1		152		157
	Long/short equity			―		―		―		―		460		477		460		477
Total Equities			$	2,919	$	2,994	$	155	$	422	$	464	$	483	$	3,538	$	3,899
Fixed Income
	U.S. government securities		$	908	$	844	$	601	$	796	$	―	$	―	$	1,509	$	1,640
	Non-U.S. government
		securities		20		―		316		378		―		―		336		378
	Preferred and convertible
		securities		―		4		4		―		―		―		4		4
	U.S. corporate bonds			14		196		2,046		1,249		―		―		2,060		1,445
	Non-U.S. corporate bonds			―		―		412		286		―		―		412		286
	Asset-backed securities			―		―		26		21		―		―		26		21
	Collateralized mortgage
		obligations		―		―		28		43		―		―		28		43
	Private placements			―		―		251		164		2		2		253		166
	Derivative instruments			(1)		―		6		76		―		―		5		76
	Other			―		―		37		29		―		―		37		29
Total Fixed Income			$	941	$	1,044	$	3,727	$	3,042	$	2	$	2	$	4,670	$	4,088
Private Equity
	Buyouts		$	―	$	―	$	―	$	―	$	737	$	662	$	737	$	662
	Derivative instruments			―		―		―		―		(97)		(51)		(97)		(51)
	Direct investments			―		―		―		―		467		129		467		129
	Distressed debt			―		―		―		―		211		301		211		301
	Growth equity			21		7		―		―		170		84		191		91
	Mezzanine			―		―		―		―		83		82		83		82
	Real estate			―		―		―		―		156		136		156		136
	Secondary			―		―		―		―		152		166		152		166
	Venture capital			―		―		―		―		548		627		548		627
Total Private Equity			$	21	$	7	$	―	$	―	$	2,427	$	2,136	$	2,448	$	2,143
Absolute Return
	Hedge funds and hedge fund of
		funds	$	―	$	―	$	176	$	833	$	21	$	664	$	197	$	1,497
	Bank loan and other fixed
		income funds		―		―		899		―		737		201		1,636		201
Total Absolute Return			$	―	$	―	$	1,075	$	833	$	758	$	865	$	1,833	$	1,698
Commodities			$	―	$	―	$	88	$	102	$	―	$	107	$	88	$	209
Cash and Cash Equivalents			$	301	$	429	$	1,017	$	1,547	$	―	$	―	$	1,318	$	1,976
Total			$	4,182	$	4,474	$	6,062	$	5,946	$	3,651	$	3,593	$	13,895	$	14,013
Other items to reconcile to fair
	value of plan assets														$	(6)	$	(232)
Fair value of plan assets															$	13,889	$	13,781

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, 2012		$	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
Net transfers into / (out of) level 3			―		―		―		―		―		―
Purchases, sales, issuances, and
	settlements, net		(92)		―		54		(104)		(96)		(238)
Realized gain / (loss)			10		―		126		45		(1)		180
Change in unrealized gains / (losses)
	relating to instruments sold during
	the period		(5)		―		3		(30)		(10)		(42)
Change in unrealized gains / (losses)
	relating to instruments still held at
	the reporting date		68		―		108		(18)		―		158
Ending balance at Dec. 31, 2013		$	464	$	2	$	2,427	$	758	$	―	$	3,651

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

The fair values of the assets held by the international pension plans by asset class are as follows:
		Fair Value Measurements Using Inputs Considered as												Fair Value at
(Millions)		Level 1				Level 2				Level 3				Dec. 31,
Asset Class		2013		2012		2013		2012		2013		2012		2013		2012
Equities
	Growth equities	$	733	$	628	$	190	$	133	$	―	$	―	$	923	$	761
	Value equities		653		468		14		23		―		―		667		491
	Core equities		19		88		668		376		5		5		692		469
Total Equities		$	1,405	$	1,184	$	872	$	532	$	5	$	5	$	2,282	$	1,721
Fixed Income
	Domestic government debt	$	199	$	297	$	539	$	694	$	3	$	―	$	741	$	991
	Foreign government debt		28		170		657		445		1		2		686		617
	Corporate debt securities		1		―		638		630		20		18		659		648
	Mortgage backed debt		―		―		75		31		―		―		75		31
	Other debt obligations		―		―		391		268		13		16		404		284
Total Fixed Income		$	228	$	467	$	2,300	$	2,068	$	37	$	36	$	2,565	$	2,571
Private Equity
	Private equity funds	$	―	$	―	$	―	$	―	$	22	$	22	$	22	$	22
	Real estate		3		3		87		42		53		49		143		94
Total Private Equity		$	3	$	3	$	87	$	42	$	75	$	71	$	165	$	116
Absolute Return
	Hedge funds	$	―	$	―	$	62	$	75	$	56	$	50	$	118	$	125
	Insurance		―		―		―		―		492		433		492		433
	Derivatives		2		―		3		20		―		―		5		20
	Other		―		―		2		24		2		2		4		26
Total Absolute Return		$	2	$	―	$	67	$	119	$	550	$	485	$	619	$	604
Cash and Cash Equivalents		$	112	$	211	$	14	$	21	$	―	$	―	$	126	$	232
Total		$	1,750	$	1,865	$	3,340	$	2,782	$	667	$	597	$	5,757	$	5,244
Other items to reconcile to fair
	value of plan assets													$	1	$	(22)
Fair value of plan assets														$	5,758	$	5,222

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, 2012		$	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
Net transfers into / (out of) level 3			―		―		―		―		―
Foreign currency exchange			―		(2)		(1)		9		6
Purchases, sales, issuances, and
	settlements, net		―		(2)		1		50		49
Realized gain / (loss)			―		―		2		―		2
Change in unrealized gains / (losses)
	relating to instruments sold during
	the period		―		―		―		1		1
Change in unrealized gains / (losses)
	relating to instruments still held at
	the reporting date		―		5		2		5		12
Ending balance at Dec. 31, 2013		$	5	$	37	$	75	$	550	$	667

Postretirement Benefits

Defined Benefit Plans and Other Postretirement Benefit Plans

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

The fair values of the assets held by the postretirement benefit plans by asset class are as follows:
			Fair Value Measurements Using Inputs Considered as												Fair Value at
(Millions)			Level 1				Level 2				Level 3				Dec. 31,
Asset Class			2013		2012		2013		2012		2013		2012		2013		2012
Equities
	U.S. equities		$	552	$	466	$	―	$	―	$	―	$	―	$	552	$	466
	Non-U.S. equities			58		54		―		―		―		―		58		54
	EAFE index funds			―		―		―		8		―		―		―		8
	Index funds			―		―		44		42		―		―		44		42
	Long/short equity			―		―		―		―		16		16		16		16
Total Equities			$	610	$	520	$	44	$	50	$	16	$	16	$	670	$	586
Fixed Income
	U.S. government securities		$	62	$	63	$	202	$	217	$	―	$	―	$	264	$	280
	Non-U.S. government
		securities		1		―		14		16		―		―		15		16
	U.S. corporate bonds			―		6		96		68		―		―		96		74
	Non-U.S. corporate bonds			―		―		21		16		―		―		21		16
	Asset-backed securities			―		―		9		6		―		―		9		6
	Collateralized mortgage
		obligations		―		―		5		4		―		―		5		4
	Private placements			―		―		16		11		―		―		16		11
	Derivative instruments			―		―		―		2		―		―		―		2
	Other			―		―		1		1		―		―		1		1
Total Fixed Income			$	63	$	69	$	364	$	341	$	―	$	―	$	427	$	410
Private Equity
	Buyouts		$	―	$	―	$	―	$	―	$	58	$	51	$	58	$	51
	Derivative instruments			―		―		―		―		(3)		(2)		(3)		(2)
	Direct investments			―		―		―		―		16		4		16		4
	Distressed debt			―		―		―		―		7		11		7		11
	Growth equity			1		―		―		―		6		3		7		3
	Mezzanine			―		―		―		―		3		3		3		3
	Real estate			―		―		―		―		5		4		5		4
	Secondary			―		―		―		―		5		5		5		5
	Venture capital			―		―		―		―		64		91		64		91
Total Private Equity			$	1	$	―	$	―	$	―	$	161	$	170	$	162	$	170
Absolute Return
	Hedge funds and hedge fund of
		funds	$	―	$	―	$	6	$	27	$	1	$	21	$	7	$	48
	Bank loan and other fixed
		income funds		―		―		31		―		25		7		56		7
Total Absolute Return			$	―	$	―	$	37	$	27	$	26	$	28	$	63	$	55
Commodities			$	―	$	―	$	3	$	3	$	―	$	4	$	3	$	7
Cash and Cash Equivalents			$	35	$	51	$	34	$	50	$	―	$	―	$	69	$	101
Total			$	709	$	640	$	482	$	471	$	203	$	218	$	1,394	$	1,329
Other items to reconcile to fair
	value of plan assets														$	11	$	(8)
Fair value of plan assets															$	1,405	$	1,321

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, 2012		$	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
Net transfers into / (out of) level 3			―		―		―		―		―		―
Purchases, sales, issuances, and
	settlements, net		(3)		―		(27)		(4)		(4)		(38)
Realized gain / (loss)			―		―		10		2		―		12
Change in unrealized gains / (losses)
	relating to instruments sold during
	the period		―		―		(3)		(1)		―		(4)
Change in unrealized gains / (losses)
	relating to instruments still held at
	the reporting date		3		―		11		1		―		15
Ending balance at Dec. 31, 2013		$	16	$	―	$	161	$	26	$	―	$	203