Retirement Plans and Profit Sharing Arrangements (Tables)

12 Months Ended

Dec. 31, 2019

Defined Benefit Plans

Reconciliation of the changes in the defined postretirement benefit plan obligation [Table Text Block]

The following table provides a reconciliation of changes in the benefit obligation:

	Pension Plans						Other Postretirement Plans
	2019			2018			2019			2018
	(in millions)
Benefit obligation, January 1	$	967		$	995		$	14		$	15
Service cost	44			48			—			—
Interest cost	36			30			—			1
Plan change	(15		)	—			—			—
Benefits paid	(9		)	(9		)	(1		)	(1		)
Actuarial (gain) loss	131			(59		)	1			(1		)
Curtailments	(7		)	—			—			—
Settlements	(42		)	(29		)	—			—
Foreign currency rate changes	6			(9		)	—			—
Benefit obligation, December 31	$	1,111		$	967		$	14		$	14

Schedule of amounts recognized in the Consolidated Balance Sheets [Table Text Block]

The following table provides the amounts recognized in the Consolidated Balance Sheets as of December 31, which equal the funded status of the plans:

	Pension Plans						Other Postretirement Plans
	2019			2018			2019			2018
	(in millions)
Benefit liability	$	(278	)	$	(256	)	$	(14	)	$	(14	)
Benefit asset	5			17			—			—
Net amount recognized	$	(273	)	$	(239	)	$	(14	)	$	(14	)

Accumulated benefit obligations in excess of the fair value of plan assets [Table Text Block]

The following table provides information for pension plans with benefit obligations in excess of plan assets:

	December 31,
	2019		2018
	(in millions)
Pension plans with accumulated benefit obligations in excess of plan assets
Accumulated benefit obligation	$	875	$	762
Fair value of plan assets	644		559
Pension plans with projected benefit obligations in excess of plan assets
Projected benefit obligation	$	922	$	815
Fair value of plan assets	644		559

Schedule of weighted average assumptions used to determine benefit obligations [Table Text Block]

The weighted average assumptions used to determine benefit obligations were as follows:

	Pension Plans				Other Postretirement Plans
	2019		2018		2019		2018
Discount rates	2.97	%	4.01	%	2.99	%	4.11	%
Rates of increase in compensation levels	4.01		4.25		N/A		N/A
Interest crediting rates for cash balance plans	5.00		5.00		N/A		N/A

Defined Benefit Plan, Assumptions [Table Text Block]

The weighted average assumptions used to determine net periodic benefit cost of pension plans were as follows:

	2019		2018		2017
Discount rates	4.00	%	3.30	%	3.64	%
Rates of increase in compensation levels	4.25		4.29		4.39
Expected long-term rates of return on assets	7.18		7.11		7.13
Interest crediting rates for cash balance plans	5.00		5.00		5.00

Schedule of pension plan assets measured at fair value on a recurring basis [Table Text Block]

The following tables present the Company’s pension plan assets measured at fair value on a recurring basis:

Asset Category	December 31, 2019
	Level 1		Level 2		Level 3		Total
	(in millions)
Equity securities:
U.S. large cap stocks	$	119	$	—	$	—	$	119
U.S. small cap stocks	91		—		—		91
Non-U.S. large cap stocks	32		—		—		32
Debt securities:
U.S. investment grade bonds	43		24		—		67
U.S. high yield bonds	6		—		—		6
Non-U.S. investment grade bonds	16		—		—		16
Cash equivalents at NAV							30		(1)
Collective investment funds at NAV							232		(1)
Real estate investment trusts at NAV							20		(1)
Hedge funds at NAV							29		(1)
Pooled pension funds at NAV							196		(1)
Total	$	307	$	24	$	—	$	838

Asset Category	December 31, 2018
	Level 1		Level 2		Level 3		Total
	(in millions)
Equity securities:
U.S. large cap stocks	$	90	$	—	$	—	$	90
U.S. small cap stocks	70		—		—		70
Non-U.S. large cap stocks	25		—		—		25
Non-U.S. small cap stocks	22		—		—		22
Debt securities:
U.S. investment grade bonds	39		23		—		62
U.S. high yield bonds	5		—		—		5
Non-U.S. investment grade bonds	15		—		—		15
Cash equivalents at NAV							36		(1)
Collective investment funds at NAV							188		(1)
Real estate investment trusts at NAV							19		(1)
Hedge funds at NAV							27		(1)
Pooled pension funds at NAV							169		(1)
Total	$	266	$	23	$	—	$	728

⁽¹⁾ Amounts are comprised of certain investments that are measured at fair value using the NAV per share (or its equivalent) as a practical expedient and have not been classified in the fair value hierarchy.

Schedule of expected benefit payments to retirees under retirement plans [Table Text Block]

The Company’s pension plans expect to make benefit payments to retirees as follows:

	Pension Plans		Other Postretirement Plans
	(in millions)
2020	$	86	$	1
2021	62		1
2022	67		1
2023	83		1
2024	72		1
2025-2029	381		5

Pension Plans [Member]

Defined Benefit Plans

Schedule of components of net periodic pension cost [Table Text Block]

All components of the net periodic benefit cost are recorded in general and administrative expense and were as follows:

	Years Ended December 31,
	2019			2018			2017
	(in millions)
Service cost	$	44		$	48		$	47
Interest cost	36			30			28
Expected return on plan assets	(53		)	(48		)	(45		)
Amortization of prior service costs	—			—			(1		)
Amortization of net loss	5			11			10
Other	8			5			3
Net periodic benefit cost	$	40		$	46		$	42

Reconciliation of the changes in the fair value of plan assets for the pension plans [Table Text Block]

The following table provides a reconciliation of changes in the fair value of assets:

	Pension Plans
	2019			2018
	(in millions)
Fair value of plan assets, January 1	$	728		$	748
Actual return on plan assets	130			(59		)
Employer contributions	24			86
Benefits paid	(9		)	(9		)
Settlements	(42		)	(29		)
Foreign currency rate changes	7			(9		)
Fair value of plan assets, December 31	$	838		$	728