Pension and Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

Defined Benefit Plans and Other 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)	2015		2014		2015		2014		2015		2014
Change in benefit obligation
Benefit obligation at beginning of year	$	16,452	$	13,967	$	6,979	$	6,346	$	2,462	$	2,017
Acquisitions/Transfers in		—		—		94		—		—		—
Service cost		293		241		154		141		75		65
Interest cost		655		676		206		252		98		97
Participant contributions		—		—		9		10		14		18
Foreign exchange rate changes		—		—		(589)		(663)		(22)		(11)
Plan amendments		—		(266)		(6)		3		(211)		—
Actuarial (gain) loss		(657)		2,874		(274)		1,128		(80)		415
Medicare Part D Reimbursement		—		—		—		—		1		1
Benefit payments		(874)		(1,039)		(232)		(235)		(122)		(140)
Settlements, curtailments, special termination benefits and other		(13)		(1)		(19)		(3)		1		—
Benefit obligation at end of year	$	15,856	$	16,452	$	6,322	$	6,979	$	2,216	$	2,462
Change in plan assets
Fair value of plan assets at beginning of year	$	14,643	$	13,889	$	5,957	$	5,758	$	1,436	$	1,405
Acquisitions/Transfers in		—		—		8		—		—		—
Actual return on plan assets		100		1,749		287		813		36		148
Company contributions		113		45		151		165		3		5
Participant contributions		—		—		9		10		14		18
Foreign exchange rate changes		—		—		(498)		(554)		—		—
Benefit payments		(874)		(1,039)		(232)		(235)		(122)		(140)
Settlements, curtailments, special termination benefits and other		(16)		(1)		(13)		—		—		—
Fair value of plan assets at end of year	$	13,966	$	14,643	$	5,669	$	5,957	$	1,367	$	1,436
Funded status at end of year	$	(1,890)	$	(1,809)	$	(653)	$	(1,022)	$	(849)	$	(1,026)

Amounts recognized in the Consolidated Balance Sheet

	Qualified and Non-qualified
	Pension Benefits								Postretirement
	United States				International				Benefits
(Millions)	2015		2014		2015		2014		2015		2014
Amounts recognized in the Consolidated Balance Sheet as of Dec. 31,
Non-current assets	$	3	$	3	$	185	$	43	$	—	$	—
Accrued benefit cost
Current liabilities		(47)		(46)		(10)		(10)		(3)		(4)
Non-current liabilities		(1,846)		(1,766)		(828)		(1,055)		(846)		(1,022)
Ending balance	$	(1,890)	$	(1,809)	$	(653)	$	(1,022)	$	(849)	$	(1,026)

Amounts recognized in accumulated other comprehensive income

	Qualified and Non-qualified
	Pension Benefits								Postretirement
	United States				International				Benefits
(Millions)	2015		2014		2015		2014		2015		2014
Amounts recognized in accumulated other comprehensive income as of Dec. 31,
Net transition obligation (asset)	$	—	$	—	$	(2)	$	(3)	$	—	$	—
Net actuarial loss (gain)		5,366		5,462		1,610		2,200		815		914
Prior service cost (credit)		(227)		(251)		(68)		(93)		(270)		(102)
Ending balance	$	5,139	$	5,211	$	1,540	$	2,104	$	545	$	812

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

The following amounts relate to pension plans with accumulated benefit obligations in excess of plan assets as of December 31:

	Qualified and Non-qualified Pension Plans
	United States				International
(Millions)	2015		2014		2015		2014
Projected benefit obligation	$	15,856	$	16,435	$	2,382	$	2,588
Accumulated benefit obligation		14,834		15,319		2,149		2,335
Fair value of plan assets		13,966		14,623		1,566		1,636

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)	2015		2014		2013		2015		2014		2013		2015		2014		2013
Net periodic benefit cost (benefit)
Service cost	$	293	$	241	$	258	$	154	$	141	$	147	$	75	$	65	$	80
Interest cost		655		676		598		206		252		238		98		97		88
Expected return on plan assets		(1,069)		(1,043)		(1,046)		(308)		(312)		(291)		(91)		(90)		(90)
Amortization of transition (asset) obligation		—		—		—		(1)		(1)		(1)		—		—		—
Amortization of prior service cost (benefit)		(24)		4		5		(13)		(16)		(16)		(42)		(47)		(66)
Amortization of net actuarial (gain) loss		409		243		399		144		121		153		73		56		95
Net periodic benefit cost (benefit)	$	264	$	121	$	214	$	182	$	185	$	230	$	113	$	81	$	107
Settlements, curtailments, special termination benefits and other		2		—		—		(6)		4		2		1		—		—
Net periodic benefit cost (benefit) after settlements, curtailments, special termination benefits and other	$	266	$	121	$	214	$	176	$	189	$	232	$	114	$	81	$	107
Other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss
Amortization of transition (asset) obligation		—		—		—		1		1		1		—		—		—
Prior service cost (benefit)		—		(266)		—		10		3		3		(212)		—		(20)
Amortization of prior service cost (benefit)		24		(4)		(5)		13		16		16		42		47		66
Net actuarial (gain) loss		312		2,167		(743)		(270)		592		(294)		(23)		358		(313)
Amortization of net actuarial (gain) loss		(409)		(243)		(399)		(144)		(121)		(153)		(73)		(56)		(95)
Foreign currency		—		—		—		(174)		(215)		(47)		(1)		(1)		(2)
Total recognized in other comprehensive (income) loss	$	(73)	$	1,654	$	(1,147)	$	(564)	$	276	$	(474)	$	(267)	$	348	$	(364)
Total recognized in net periodic benefit cost (benefit) and other comprehensive (income) loss	$	193	$	1,775	$	(933)	$	(388)	$	465	$	(242)	$	(153)	$	429	$	(257)

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)		(24)		(13)		(55)
Amortization of net actuarial (gain) loss		354		90		62
Total amortization expected over the next fiscal year	$	330	$	76	$	7

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

Weighted-average assumptions used to determine benefit obligations as of December 31

	Qualified and Non-qualified Pension Benefits												Postretirement
	United States						International						Benefits
	2015		2014		2013		2015		2014		2013		2015		2014		2013
Discount rate	4.47	%	4.10	%	4.98	%	3.12	%	3.11	%	4.02	%	4.48	%	4.07	%	4.83	%
Compensation rate increase	4.10	%	4.10	%	4.00	%	2.90	%	3.33	%	3.35	%	N/A		N/A		N/A

Weighted-average assumptions used to determine net cost for years ended December 31

	Qualified and Non-qualified Pension Benefits												Postretirement
	United States						International						Benefits
	2015		2014		2013		2015		2014		2013		2015		2014		2013
Discount rate	4.10	%	4.98	%	4.14	%	3.11	%	4.02	%	3.78	%	4.07	%	4.83	%	4.00	%
Expected return on assets	7.75	%	7.75	%	8.00	%	5.90	%	5.83	%	5.87	%	6.91	%	7.11	%	7.19	%
Compensation rate increase	4.10	%	4.00	%	4.00	%	3.33	%	3.35	%	3.31	%	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
2016 Benefit Payments	$	987	$	205	$	141
2017 Benefit Payments		997		215		156
2018 Benefit Payments		1,008		228		172
2019 Benefit Payments		1,017		241		153
2020 Benefit Payments		1,029		250		155
Next five years		5,187		1,480		797

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	2015		2014		2015		2014		2015		2014		2015		2014
Equities
U.S. equities	$	1,897	$	1,766	$	—	$	—	$	—	$	—	$	1,897	$	1,766
Non-U.S. equities		1,149		1,214		—		—		—		—		1,149		1,214
Index and long/short equity funds*														578		607
Total Equities	$	3,046	$	2,980	$	—	$	—	$	—	$	—	$	3,624	$	3,587
Fixed Income
U.S. government securities	$	1,095	$	1,032	$	456	$	590	$	—	$	—	$	1,551	$	1,622
Non-U.S. government securities		—		7		126		381		—		—		126		388
Preferred and convertible securities		4		6		8		9		—		—		12		15
U.S. corporate bonds		9		8		2,820		2,889		—		—		2,829		2,897
Non-U.S. corporate bonds		—		—		616		566		—		—		616		566
Derivative instruments		(1)		6		40		126		—		—		39		132
Other*														11		32
Total Fixed Income	$	1,107	$	1,059	$	4,066	$	4,561	$	—	$	—	$	5,184	$	5,652
Private Equity
Derivative instruments	$	—	$	—	$	—	$	—	$	(106)	$	(74)	$	(106)	$	(74)
Growth equity		24		15		—		—		—		—		24		15
Partnership investments*														2,450		2,561
Total Private Equity	$	24	$	15	$	—	$	—	$	(106)	$	(74)	$	2,368	$	2,502
Absolute Return
Derivative instruments	$	—	$	—	$	(5)	$	—	$	—	$	—	$	(5)	$	—
Fixed income and other		253		26		46		52		—		—		299		78
Hedge fund/fund of funds*														1,409		1,807
Partnership investments*														355		288
Total Absolute Return	$	253	$	26	$	41	$	52	$	—	$	—	$	2,058	$	2,173
Cash and Cash Equivalents
Cash and cash equivalents	$	102	$	287	$	6	$	86	$	—	$	—	$	108	$	373
Cash and cash equivalents, valued at net asset value*														783		531
Total Cash and Cash Equivalents	$	102	$	287	$	6	$	86	$	—	$	—	$	891	$	904
Total	$	4,532	$	4,367	$	4,113	$	4,699	$	(106)	$	(74)	$	14,125	$	14,818
Other items to reconcile to fair value of plan assets													$	(159)	$	(175)
Fair value of plan assets													$	13,966	$	14,643

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	2015		2014		2015		2014		2015		2014		2015		2014
Equities
Growth equities	$	718	$	672	$	195	$	176	$	—	$	—	$	913	$	848
Value equities		494		595		27		23		—		—		521		618
Core equities		31		19		671		624		4		4		706		647
Equities, valued at net asset value*														17		18
Total Equities	$	1,243	$	1,286	$	893	$	823	$	4	$	4	$	2,157	$	2,131
Fixed Income
Domestic government	$	283	$	87	$	346	$	533	$	4	$	3	$	633	$	623
Foreign government		—		45		206		670		—		—		206		715
Corporate debt securities		30		1		661		701		10		12		701		714
Fixed income securities, valued at net asset value*														770		863
Total Fixed Income	$	313	$	133	$	1,213	$	1,904	$	14	$	15	$	2,310	$	2,915
Private Equity
Real estate	$	1	$	3	$	5	$	5	$	4	$	4	$	10	$	12
Real estate, valued at net asset value*														126		119
Partnership investments*														24		23
Total Private Equity	$	1	$	3	$	5	$	5	$	4	$	4	$	160	$	154
Absolute Return
Derivatives	$	(2)	$	—	$	15	$	(4)	$	—	$	—	$	13	$	(4)
Insurance		—		—		—		—		456		476		456		476
Other		—		—		4		10		3		3		7		13
Other, valued at net asset value*														1		3
Hedge funds*														119		117
Total Absolute Return	$	(2)	$	—	$	19	$	6	$	459	$	479	$	596	$	605
Cash and Cash Equivalents
Cash and cash equivalents	$	126	$	161	$	347	$	29	$	—	$	—	$	473	$	190
Cash and cash equivalents, valued at net asset value*														1		3
Total Cash and Cash Equivalents	$	126	$	161	$	347	$	29	$	—	$	—	$	474	$	193
Total	$	1,681	$	1,583	$	2,477	$	2,767	$	481	$	502	$	5,697	$	5,998
Other items to reconcile to fair value of plan assets													$	(28)	$	(41)
Fair value of plan assets													$	5,669	$	5,957

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	2015		2014		2015		2014		2015		2014		2015		2014
Equities
U.S. equities	$	508	$	565	$	—	$	—	$	—	$	—	$	508	$	565
Non-U.S. equities		59		56		—		—		—		—		59		56
Index and long/short equity funds*														49		55
Total Equities	$	567	$	621	$	—	$	—	$	—	$	—	$	616	$	676
Fixed Income
U.S. government securities	$	71	$	68	$	192	$	186	$	—	$	—	$	263	$	254
Non-U.S. government securities		—		—		8		17		—		—		8		17
U.S. corporate bonds		—		—		153		146		—		—		153		146
Non-U.S. corporate bonds		—		—		35		34		—		—		35		34
Derivative instruments		—		—		2		5		—		—		2		5
Other*														—		1
Total Fixed Income	$	71	$	68	$	390	$	388	$	—	$	—	$	461	$	457
Private Equity
Derivative instruments	$	—	$	—	$	—	$	—	$	(4)	$	(3)	$	(4)	$	(3)
Growth equity		1		1		—		—		—		—		1		1
Partnership investments*														136		162
Total Private Equity	$	1	$	1	$	—	$	—	$	(4)	$	(3)	$	133	$	160
Absolute Return
Fixed income and other	$	10	$	1	$	2	$	2	$	—	$	—	$	12	$	3
Hedge fund/fund of funds*														54		66
Partnership investments*														14		10
Total Absolute Return	$	10	$	1	$	2	$	2	$	—	$	—	$	80	$	79
Cash and Cash Equivalents
Cash and cash equivalents	$	38	$	33	$	—	$	3	$	—	$	—	$	38	$	36
Cash and cash equivalents, valued at net asset value*														30		20
Total Cash and Cash Equivalents	$	38	$	33	$	—	$	3	$	—	$	—	$	68	$	56
Total	$	687	$	724	$	392	$	393	$	(4)	$	(3)	$	1,358	$	1,428
Other items to reconcile to fair value of plan assets													$	9	$	8
Fair value of plan assets													$	1,367	$	1,436