Pension and Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2017

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)	2017		2016		2017		2016		2017		2016
Change in benefit obligation
Benefit obligation at beginning of year	$	16,202	$	15,856	$	6,625	$	6,322	$	2,259	$	2,216
Acquisitions/Transfers		—		—		3		(5)		—		—
Service cost		268		259		142		133		52		54
Interest cost		565		575		157		171		80		79
Participant contributions		—		—		8		8		—		—
Foreign exchange rate changes		—		—		667		(472)		3		7
Plan amendments		—		5		6		(4)		(6)		—
Actuarial (gain) loss		1,263		427		170		724		127		7
Benefit payments		(936)		(919)		(276)		(245)		(105)		(104)
Settlements, curtailments, special termination benefits and other		(2)		(1)		—		(7)		—		—
Benefit obligation at end of year	$	17,360	$	16,202	$	7,502	$	6,625	$	2,410	$	2,259
Change in plan assets
Fair value of plan assets at beginning of year	$	14,081	$	13,966	$	5,617	$	5,669	$	1,356	$	1,367
Acquisitions/Transfers		—		—		2		—		—		—
Actual return on plan assets		1,693		779		714		512		143		90
Company contributions		852		259		112		121		3		3
Participant contributions		—		—		8		8		—		—
Foreign exchange rate changes		—		—		560		(444)		—		—
Benefit payments		(936)		(919)		(276)		(245)		(105)		(104)
Settlements, curtailments, special termination benefits and other		(4)		(4)		—		(4)		—		—
Fair value of plan assets at end of year	$	15,686	$	14,081	$	6,737	$	5,617	$	1,397	$	1,356
Funded status at end of year	$	(1,674)	$	(2,121)	$	(765)	$	(1,008)	$	(1,013)	$	(903)

Amounts recognized in the Consolidated Balance Sheet

	Qualified and Non-qualified
	Pension Benefits								Postretirement
	United States				International				Benefits
(Millions)	2017		2016		2017		2016		2017		2016
Amounts recognized in the Consolidated Balance Sheet as of Dec. 31,
Non-current assets	$	4	$	4	$	233	$	48	$	—	$	—
Accrued benefit cost
Current liabilities		(53)		(52)		(12)		(10)		(4)		(4)
Non-current liabilities		(1,625)		(2,073)		(986)		(1,046)		(1,009)		(899)
Ending balance	$	(1,674)	$	(2,121)	$	(765)	$	(1,008)	$	(1,013)	$	(903)

Amounts recognized in accumulated other comprehensive income

	Qualified and Non-qualified
	Pension Benefits								Postretirement
	United States				International				Benefits
(Millions)	2017		2016		2017		2016		2017		2016
Amounts recognized in accumulated other comprehensive income as of Dec. 31,
Net transition obligation (asset)	$	—	$	—	$	—	$	—	$	—	$	—
Net actuarial loss (gain)		5,921		5,704		1,720		1,933		774		761
Prior service cost (credit)		(175)		(198)		(40)		(56)		(163)		(214)
Ending balance	$	5,746	$	5,506	$	1,680	$	1,877	$	611	$	547

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)	2017		2016		2017		2016
Projected benefit obligation	$	17,350	$	16,202	$	2,687	$	2,590
Accumulated benefit obligation		16,260		15,149		2,449		2,351
Fair value of plan assets		15,671		14,081		1,731		1,635

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)	2017		2016		2015		2017		2016		2015		2017		2016		2015
Net periodic benefit cost (benefit)
Service cost	$	268	$	259	$	293	$	142	$	133	$	154	$	52	$	54	$	75
Interest cost		565		575		655		157		171		206		80		79		98
Expected return on plan assets		(1,035)		(1,043)		(1,069)		(293)		(308)		(308)		(86)		(90)		(91)
Amortization of transition asset		—		—		—		—		(1)		(1)		—		—		—
Amortization of prior service benefit		(23)		(24)		(24)		(13)		(13)		(13)		(53)		(55)		(42)
Amortization of net actuarial loss		388		354		409		126		91		144		56		61		73
Settlements, curtailments, special termination benefits and other		2		4		2		4		4		(6)		(4)		—		1
Net periodic benefit cost (benefit) after settlements, curtailments, special termination benefits and other	$	165	$	125	$	266	$	123	$	77	$	176	$	45	$	49	$	114
Other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss
Amortization of transition asset		—		—		—		—		1		1		—		—		—
Prior service cost (benefit)		—		5		—		6		(5)		10		(1)		—		(212)
Amortization of prior service benefit		23		24		24		13		13		13		53		55		42
Net actuarial (gain) loss		605		692		312		(248)		512		(270)		69		8		(23)
Amortization of net actuarial loss		(388)		(354)		(409)		(126)		(91)		(144)		(56)		(61)		(73)
Foreign currency		—		—		—		167		(93)		(174)		—		—		(1)
Total recognized in other comprehensive (income) loss	$	240	$	367	$	(73)	$	(188)	$	337	$	(564)	$	65	$	2	$	(267)
Total recognized in net periodic benefit cost (benefit) and other comprehensive (income) loss	$	405	$	492	$	193	$	(65)	$	414	$	(388)	$	110	$	51	$	(153)

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	$	—	$	—	$	—
Amortization of prior service cost (benefit)		(23)		(13)		(40)
Amortization of net actuarial (gain) loss		503		116		62
Total amortization expected over the next fiscal year	$	480	$	103	$	22

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
	2017		2016		2015		2017		2016		2015		2017		2016		2015
Discount rate	3.68	%	4.21	%	4.47	%	2.41	%	2.54	%	3.12	%	3.79	%	4.26	%	4.48	%
Compensation rate increase	4.10	%	4.10	%	4.10	%	2.89	%	2.90	%	2.90	%	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
	2017		2016		2015		2017		2016		2015		2017		2016		2015
Discount rate - service cost	4.42	%	4.70	%	4.10	%	2.32	%	2.84	%	3.11	%	4.50	%	4.70	%	4.07	%
Discount rate - interest cost	3.61	%	3.73	%	4.10	%	2.25	%	2.72	%	3.11	%	3.80	%	3.80	%	4.07	%
Expected return on assets	7.25	%	7.50	%	7.75	%	5.16	%	5.77	%	5.90	%	6.48	%	6.91	%	6.91	%
Compensation rate increase	4.10	%	4.10	%	4.10	%	2.90	%	2.90	%	3.33	%	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
2018 Benefit Payments	$	1,074	$	237	$	139
2019 Benefit Payments		1,090		251		148
2020 Benefit Payments		1,102		260		157
2021 Benefit Payments		1,110		278		166
2022 Benefit Payments		1,126		285		174
Next five years		5,724		1,640		843

Qualified and Non-qualified Pension Benefits | United States

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	2017		2016		2017		2016		2017		2016		2017		2016
Equities
U.S. equities	$	1,568	$	1,522	$	—	$	—	$	—	$	—	$	1,568	$	1,522
Non-U.S. equities		1,527		1,179		—		—		—		—		1,527		1,179
Index and long/short equity funds*														422		414
Total Equities	$	3,095	$	2,701	$	—	$	—	$	—	$	—	$	3,517	$	3,115
Fixed Income
U.S. government securities	$	2,666	$	1,701	$	484	$	560	$	—	$	—	$	3,150	$	2,261
Non-U.S. government securities		—		—		168		146		—		—		168		146
Preferred and convertible securities		4		4		2		1		—		—		6		5
U.S. corporate bonds		10		10		2,904		3,392		—		—		2,914		3,402
Non-U.S. corporate bonds		—		—		614		672		—		—		614		672
Derivative instruments		—		(1)		110		(31)		—		—		110		(32)
Other*														8		7
Total Fixed Income	$	2,680	$	1,714	$	4,282	$	4,740	$	—	$	—	$	6,970	$	6,461
Private Equity
Derivative instruments	$	—	$	—	$	—	$	—	$	(7)	$	(83)	$	(7)	$	(83)
Growth equity		34		19		—		—		—		—		34		19
Partnership investments*														2,062		2,188
Total Private Equity	$	34	$	19	$	—	$	—	$	(7)	$	(83)	$	2,089	$	2,124
Absolute Return
Derivative instruments	$	—	$	—	$	—	$	(7)	$	—	$	—	$	—	$	(7)
Fixed income and other		31		29		102		78		—		—		133		107
Hedge fund/fund of funds*														1,871		1,793
Partnership investments*														335		296
Total Absolute Return	$	31	$	29	$	102	$	71	$	—	$	—	$	2,339	$	2,189
Cash and Cash Equivalents
Cash and cash equivalents	$	109	$	55	$	14	$	—	$	1	$	2	$	124	$	57
Repurchase agreements and derivative margin activity		—		—		(502)		(545)		—		—		(502)		(545)
Cash and cash equivalents, valued at net asset value*														1,402		931
Total Cash and Cash Equivalents	$	109	$	55	$	(488)	$	(545)	$	1	$	2	$	1,024	$	443
Total	$	5,949	$	4,518	$	3,896	$	4,266	$	(6)	$	(81)	$	15,939	$	14,332
Other items to reconcile to fair value of plan assets													$	(253)	$	(251)
Fair value of plan assets													$	15,686	$	14,081

Qualified and Non-qualified Pension Benefits | International

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	2017		2016		2017		2016		2017		2016		2017		2016
Equities
Growth equities	$	659	$	605	$	289	$	214	$	—	$	—	$	948	$	819
Value equities		597		575		43		28		—		—		640		603
Core equities		62		55		790		583		4		4		856		642
Equities, valued at net asset value*														21		16
Total Equities	$	1,318	$	1,235	$	1,122	$	825	$	4	$	4	$	2,465	$	2,080
Fixed Income
Domestic government	$	362	$	340	$	256	$	202	$	4	$	3	$	622	$	545
Foreign government		168		142		338		353		—		—		506		495
Corporate debt securities		63		51		1,072		888		10		9		1,145		948
Fixed income securities, valued at net asset value*														976		641
Total Fixed Income	$	593	$	533	$	1,666	$	1,443	$	14	$	12	$	3,249	$	2,629
Private Equity
Real estate	$	36	$	29	$	74	$	62	$	3	$	3	$	113	$	94
Real estate, valued at net asset value*														36		34
Partnership investments*														68		63
Total Private Equity	$	36	$	29	$	74	$	62	$	3	$	3	$	217	$	191
Absolute Return
Derivatives	$	—	$	(4)	$	2	$	—	$	—	$	—	$	2	$	(4)
Insurance		—		—		—		—		519		455		519		455
Other		—		—		—		—		7		6		7		6
Other, valued at net asset value*														1		—
Hedge funds*														194		174
Total Absolute Return	$	—	$	(4)	$	2	$	—	$	526	$	461	$	723	$	631
Cash and Cash Equivalents
Cash and cash equivalents	$	67	$	99	$	34	$	18	$	—	$	—	$	101	$	117
Cash and cash equivalents, valued at net asset value*														3		4
Total Cash and Cash Equivalents	$	67	$	99	$	34	$	18	$	—	$	—	$	104	$	121
Total	$	2,014	$	1,892	$	2,898	$	2,348	$	547	$	480	$	6,758	$	5,652
Other items to reconcile to fair value of plan assets													$	(21)	$	(35)
Fair value of plan assets													$	6,737	$	5,617

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	2017		2016		2017		2016		2017		2016		2017		2016
Equities
U.S. equities	$	465	$	477	$	—	$	—	$	—	$	—	$	465	$	477
Non-U.S. equities		71		62		—		—		—		—		71		62
Index and long/short equity funds*														45		40
Total Equities	$	536	$	539	$	—	$	—	$	—	$	—	$	581	$	579
Fixed Income
U.S. government securities	$	136	$	102	$	205	$	191	$	—	$	—	$	341	$	293
Non-U.S. government securities		—		—		9		9		—		—		9		9
U.S. corporate bonds		—		—		159		172		—		—		159		172
Non-U.S. corporate bonds		—		—		35		36		—		—		35		36
Derivative instruments		—		—		4		(1)		—		—		4		(1)
Total Fixed Income	$	136	$	102	$	412	$	407	$	—	$	—	$	548	$	509
Private Equity
Derivative instruments	$	—	$	—	$	—	$	—	$	—	$	(3)	$	—	$	(3)
Growth equity		2		1		—		—		—		—		2		1
Partnership investments*														109		113
Total Private Equity	$	2	$	1	$	—	$	—	$	—	$	(3)	$	111	$	111
Absolute Return
Fixed income and other	$	1	$	1	$	4	$	3	$	—	$	—	$	5	$	4
Hedge fund/fund of funds*														76		72
Partnership investments*														14		12
Total Absolute Return	$	1	$	1	$	4	$	3	$	—	$	—	$	95	$	88
Cash and Cash Equivalents
Cash and cash equivalents	$	34	$	44	$	1	$	3	$	—	$	—	$	35	$	47
Repurchase agreements and derivative margin activity		—		—		(20)		(22)		—		—		(20)		(22)
Cash and cash equivalents, valued at net asset value*														57		38
Total Cash and Cash Equivalents	$	34	$	44	$	(19)	$	(19)	$	—	$	—	$	72	$	63
Total	$	709	$	687	$	397	$	391	$	—	$	(3)	$	1,407	$	1,350
Other items to reconcile to fair value of plan assets													$	(10)	$	6
Fair value of plan assets													$	1,397	$	1,356