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Pension Plans, Retirement Benefits and Savings Plans (details) - Summary of Funded Status and Obligations (USD $)
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12 Months Ended |
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Dec. 31, 2012
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Dec. 31, 2011
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Dec. 31, 2010
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Pension Plans [Member]
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| Defined benefit plan disclosure |
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| Accrued under-funded benefit plan liabilities |
$ (402,000,000) |
$ (389,000,000) |
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| Net actuarial loss (gain) |
1,363,000,000 |
1,275,000,000 |
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| Total amount recognized in accumulated other comprehensive income |
1,363,000,000 |
1,275,000,000 |
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| Total accumulated benefit obligation |
3,210,000,000 |
2,830,000,000 |
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| Aggregate projected benefit obligation for pension plans with an accumulated benefit obligation in excess of plan assets |
3,250,000,000 |
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| Aggregate accumulated benefit obligation for pension plans with an accumulated benefit obligation in excess of plan assets |
3,200,000,000 |
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| Fair value of plan assets for pension plans with an accumulated benefit obligation in excess of plan assets |
2,850,000,000 |
2,490,000,000 |
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| Service cost |
113,000,000 |
98,000,000 |
96,000,000 |
| Interest cost on benefit obligation |
138,000,000 |
135,000,000 |
128,000,000 |
| Expected return on plan assets |
(187,000,000) |
(182,000,000) |
(185,000,000) |
| Amortization of unrecognized prior service benefit |
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(3,000,000) |
| Net periodic benefit cost, amortization of unrecognized net actuarial loss (gain) |
89,000,000 |
76,000,000 |
60,000,000 |
| Net periodic benefit cost, net benefit expense |
153,000,000 |
127,000,000 |
96,000,000 |
| Other changes in benefit plan assets and benefit obligations recognized in other comprehensive income, net actuarial loss (gain) |
176,000,000 |
388,000,000 |
27,000,000 |
| Other changes in benefit plan assets and benefit obligations recognized in other comprehensive income, amortization of prior service benefit |
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3,000,000 |
| Other changes in benefit plan assets and benefit obligations recognized in other comprehensive income, amortization of net actuarial gain (loss) |
(89,000,000) |
(76,000,000) |
(60,000,000) |
| Total other changes in benefit plan assets and benefit obligations recognized in other comprehensive income |
87,000,000 |
312,000,000 |
(30,000,000) |
| Total other changes recognized in net benefit expense and other comprehensive income |
240,000,000 |
439,000,000 |
66,000,000 |
| Estimated net actuarial loss that will be amortized from other comprehensive income into net periodic benefit cost over the next fiscal year |
107,000,000 |
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| Assumptions used to determine net periodic benefit cost, expected long-term rate of return on assets (percent) |
7.50% |
8.00% |
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| Pension Plans, Retirement Benefits and Savings Plans, Plan Assets investment strategy |
The Company's overall investment strategy is to achieve a mix of approximately 85% to 90% of investments for long-term growth and 10% to 15% for near-term benefit payments with a wide diversification of asset types, fund strategies and fund managers. The current target allocations for plan assets are 55% to 65% equity securities and 20% to 40% fixed income securities, with the remainder allocated to short-term securities. Equity securities primarily include investments in large, medium and small-cap companies primarily located in the United States. Fixed income securities include corporate bonds of companies from diversified industries, mortgage-backed securities, U.S. Treasury securities and debt securities issued by foreign governments. Other investments include two private equity funds held by the Company's qualified defined benefit pension plan. One private equity fund is focused on financial companies, and the other is focused on real estate-related investments. Other investments at December 31, 2011 also included a hedge fund which was a multi-strategy "fund of funds." |
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| Benefits expected to be paid, 2013 |
152,000,000 |
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| Benefits expected to be paid, 2014 |
165,000,000 |
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| Benefits expected to be paid, 2015 |
176,000,000 |
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| Benefits expected to be paid, 2016 |
187,000,000 |
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| Benefits expected to be paid, 2017 |
198,000,000 |
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| Benefits expected to be paid, 2018 through 2022 |
1,118,000,000 |
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Qualified Domestic Pension Plan [Member]
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| Defined benefit plan disclosure |
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| Accrued under-funded benefit plan liabilities |
(294,000,000) |
(292,000,000) |
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| Net actuarial loss (gain) |
1,300,000,000 |
1,220,000,000 |
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| Total amount recognized in accumulated other comprehensive income |
1,300,000,000 |
1,220,000,000 |
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| Total accumulated benefit obligation |
3,010,000,000 |
2,650,000,000 |
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Nonqualified and Foreign Pension Plans [Member]
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| Defined benefit plan disclosure |
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| Accrued under-funded benefit plan liabilities |
(108,000,000) |
(97,000,000) |
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| Net actuarial loss (gain) |
63,000,000 |
55,000,000 |
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| Total amount recognized in accumulated other comprehensive income |
63,000,000 |
55,000,000 |
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| Total accumulated benefit obligation |
200,000,000 |
180,000,000 |
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Postretirement Benefit Plans [Member]
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| Defined benefit plan disclosure |
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| Accrued under-funded benefit plan liabilities |
(204,000,000) |
(227,000,000) |
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| Net actuarial loss (gain) |
(50,000,000) |
(31,000,000) |
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| Service cost |
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1,000,000 |
| Interest cost on benefit obligation |
12,000,000 |
13,000,000 |
14,000,000 |
| Expected return on plan assets |
(1,000,000) |
(1,000,000) |
(1,000,000) |
| Net periodic benefit cost, amortization of unrecognized net actuarial loss (gain) |
(1,000,000) |
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| Net periodic benefit cost, net benefit expense |
10,000,000 |
12,000,000 |
14,000,000 |
| Other changes in benefit plan assets and benefit obligations recognized in other comprehensive income, net actuarial loss (gain) |
11,000,000 |
(5,000,000) |
(8,000,000) |
| Other changes in benefit plan assets and benefit obligations recognized in other comprehensive income, plan amendments |
(31,000,000) |
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| Other changes in benefit plan assets and benefit obligations recognized in other comprehensive income, amortization of net actuarial gain (loss) |
1,000,000 |
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| Total other changes in benefit plan assets and benefit obligations recognized in other comprehensive income |
(19,000,000) |
(5,000,000) |
(8,000,000) |
| Total other changes recognized in net benefit expense and other comprehensive income |
(9,000,000) |
7,000,000 |
6,000,000 |
| Estimated net actuarial loss that will be amortized from other comprehensive income into net periodic benefit cost over the next fiscal year |
less than $1 million |
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| Estimated prior service cost to be amortized over the next fiscal year |
3,000,000 |
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| Assumptions used to determine net periodic benefit cost, expected long-term rate of return on assets (percent) |
5.00% |
5.00% |
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| Pension Plans, Retirement Benefits and Savings Plans, Plan Assets investment strategy |
The Company's overall investment strategy is to achieve a mix of approximately 35% to 65% of investments for long-term growth and 35% to 60% for near-term insurance payments with a wide diversification of asset types, fund strategies and fund managers. The current target allocations for plan assets are 25% to 75% fixed income securities, with the remainder allocated to short-term securities. Fixed income securities include corporate bonds of companies from diversified industries, mortgage-backed securities and U.S. Treasuries. |
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| Benefits expected to be paid, 2013 |
15,000,000 |
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| Benefits expected to be paid, 2014 |
15,000,000 |
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| Benefits expected to be paid, 2015 |
15,000,000 |
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| Benefits expected to be paid, 2016 |
15,000,000 |
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| Benefits expected to be paid, 2017 |
15,000,000 |
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| Benefits expected to be paid, 2018 through 2022 |
$ 70,000,000 |
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