Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

Compensation and Retirement Disclosure [Abstract]

Funded status of pension and other postretirement benefit plans

The funded status of the company’s pension and other postretirement benefit plans for 2013 and 2012 follows:



	Pension Benefits
	2013						2012						Other Benefits
	U.S.			Int’l.			U.S.			Int’l.			2013			2012
Change in Benefit Obligation
Benefit obligation at January 1	$	13,654		$	6,287		$	12,165		$	5,519		$	3,787		$	3,765
Service cost	495			197			452			181			66			61
Interest cost	471			314			435			320			149			153
Plan participants’ contributions	—			8			—			7			154			151
Plan amendments	(78		)	18			94			37			—			11
Actuarial (gain) loss	(1,398		)	(206		)	1,322			417			(636		)	44
Foreign currency exchange rate changes	—			(187		)	—			114			(23		)	1
Benefits paid	(1,064		)	(336		)	(763		)	(308		)	(359		)	(350		)
Divestitures	—			—			(51		)	—			—			(49		)
Benefit obligation at December 31	12,080			6,095			13,654			6,287			3,138			3,787
Change in Plan Assets
Fair value of plan assets at January 1	9,909			4,125			8,720			3,577			—			—
Actual return on plan assets	1,546			375			1,149			375			—			—
Foreign currency exchange rate changes	—			(21		)	—			90			—			—
Employer contributions	819			392			844			384			205			199
Plan participants’ contributions	—			8			—			7			154			151
Benefits paid	(1,064		)	(336		)	(763		)	(308		)	(359		)	(350		)
Divestitures	—			—			(41		)	—			—			—
Fair value of plan assets at December 31	11,210			4,543			9,909			4,125			—			—
Funded Status at December 31	$	(870	)	$	(1,552	)	$	(3,745	)	$	(2,162	)	$	(3,138	)	$	(3,787	)

Consolidated Balance Sheet for pension and other postretirement benefit plans

Amounts recognized on the Consolidated Balance Sheet for the company’s pension and other postretirement benefit plans at December 31, 2013 and 2012, include:



	Pension Benefits
	2013						2012						Other Benefits
	U.S.			Int’l.			U.S.			Int’l.			2013			2012
Deferred charges and other assets	$	394		$	128		$	7		$	55		$	—		$	—
Accrued liabilities	(76		)	(81		)	(61		)	(76		)	(215		)	(225		)
Noncurrent employee benefit plans	(1,188		)	(1,599		)	(3,691		)	(2,141		)	(2,923		)	(3,562		)
Net amount recognized at December 31	$	(870	)	$	(1,552	)	$	(3,745	)	$	(2,162	)	$	(3,138	)	$	(3,787	)

Before tax basis amount in accumulated other comprehensive loss

Amounts recognized on a before-tax basis in “Accumulated other comprehensive loss” for the company’s pension and OPEB plans were $5,464 and $9,742 at the end of 2013 and 2012, respectively. These amounts consisted of:



	Pension Benefits
	2013					2012				Other Benefits
	U.S.			Int’l.		U.S.		Int’l.		2013		2012
Net actuarial loss	$	3,185		$	1,808	$	6,087	$	2,439	$	256	$	968
Prior service (credit) costs	(22		)	167		58		170		70		20
Total recognized at December 31	$	3,163		$	1,975	$	6,145	$	2,609	$	326	$	988

Pension plans with accumulated benefit obligation in excess of plan assets

Information for U.S. and international pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2013 and 2012, was:



	Pension Benefits
	2013				2012
	U.S.		Int’l.		U.S.		Int’l.
Projected benefit obligations	$	1,267	$	1,692	$	13,647	$	4,812
Accumulated benefit obligations	1,155		1,240		12,101		4,063
Fair value of plan assets	4		203		9,895		2,756

Components of net periodic benefit cost and amounts recognized in other comprehensive income

The components of net periodic benefit cost and amounts recognized in the Consolidated Statement of Comprehensive Income for 2013, 2012 and 2011 are shown in the table below:



	Pension Benefits
	2013						2012						2011						Other Benefits
	U.S.			Int’l.			U.S.			Int’l.			U.S.			Int’l.			2013			2012			2011
Net Periodic Benefit Cost
Service cost	$	495		$	197		$	452		$	181		$	374		$	174		$	66		$	61		$	58
Interest cost	471			314			435			320			463			325			149			153			180
Expected return on plan assets	(701		)	(274		)	(634		)	(269		)	(613		)	(283		)	—			—			—
Amortization of prior service costs (credits)	2			21			(7		)	18			(8		)	19			(50		)	(72		)	(72		)
Recognized actuarial losses	485			143			470			136			310			101			53			56			64
Settlement losses	173			12			220			5			298			—			—			(26		)	—
Curtailment losses (gains)	—			—			—			—			—			35			—			—			(10		)
Total net periodic benefit cost	925			413			936			391			824			371			218			172			220
Changes Recognized in Comprehensive Income
Net actuarial (gain) loss during period	(2,244		)	(476		)	805			330			2,671			448			(659		)	45			131
Amortization of actuarial loss	(658		)	(155		)	(700		)	(141		)	(608		)	(101		)	(53		)	(79		)	(64		)
Prior service (credits) costs during period	(78		)	18			94			37			—			27			—			11			—
Amortization of prior service (costs) credits	(2		)	(21		)	7			(18		)	8			(54		)	50			72			72
Total changes recognized in other comprehensive income	(2,982		)	(634		)	206			208			2,071			320			(662		)	49			139
Recognized in Net Periodic Benefit Cost and Other Comprehensive Income	$	(2,057	)	$	(221	)	$	1,142		$	599		$	2,895		$	691		$	(444	)	$	221		$	359

Weighted-average assumptions used to determine benefit obligations and net periodic benefit costs

The following weighted-average assumptions were used to determine benefit obligations and net periodic benefit costs for years ended December 31:



	Pension Benefits
	2013				2012				2011						Other Benefits
	U.S.		Int’l.		U.S.		Int’l.		U.S.		Int’l.		2013		2012		2011
Assumptions used to determine benefit obligations:
Discount rate	4.3	%	5.8	%	3.6	%	5.2	%	3.8	%	5.9	%	4.9	%	4.1	%	4.2	%
Rate of compensation increase	4.5	%	5.5	%	4.5	%	5.5	%	4.5	%	5.7	%	N/A		N/A		N/A
Assumptions used to determine net periodic benefit cost:
Discount rate	3.6	%	5.2	%	3.8	%	5.9	%	4.8	%	6.5	%	4.1	%	4.2	%	5.2	%
Expected return on plan assets	7.5	%	6.8	%	7.5	%	7.5	%	7.8	%	7.8	%	N/A		N/A		N/A
Rate of compensation increase	4.5	%	5.5	%	4.5	%	5.7	%	4.5	%	6.7	%	N/A		N/A		N/A

Effects of change in the assumed health care cost-trend rates

A 1-percentage-point change in the assumed health care cost-trend rates would have the following effects on worldwide plans:



	1 Percent		1 Percent
	Increase		Decrease
Effect on total service and interest cost components	$	13	$	(11	)
Effect on postretirement benefit obligation	$	137	$	(115	)

Fair value measurements of the Company's pension plans



	U.S.									Int’l.
	Total Fair Value		Level 1			Level 2		Level 3		Total Fair Value		Level 1			Level 2		Level 3
At December 31, 2012
Equities
U.S.¹	$	1,709	$	1,709		$	—	$	—	$	334	$	334		$	—	$	—
International	1,263		1,263			—		—		520		520			—		—
Collective Trusts/Mutual Funds²	2,979		7			2,972		—		1,233		402			831		—
Fixed Income
Government	435		396			39		—		578		40			538		—
Corporate	384		—			384		—		230		25			175		30
Mortgage-Backed Securities	65		—			65		—		2		—			—		2
Other Asset Backed	51		—			51		—		4		—			4		—
Collective Trusts/Mutual Funds²	1,520		—			1,520		—		671		26			645		—
Mixed Funds³	—		—			—		—		115		4			111		—
Real Estate⁴	1,114		—			—		1,114		177		—			—		177
Cash and Cash Equivalents	373		373			—		—		222		204			18		—
Other⁵	16		(44		)	5		55		39		(3		)	40		2
Total at December 31, 2012	$	9,909	$	3,704		$	5,036	$	1,169	$	4,125	$	1,552		$	2,362	$	211
At December 31, 2013
Equities
U.S.¹	$	2,298	$	2,298		$	—	$	—	$	409	$	409		$	—	$	—
International	1,501		1,501			—		—		533		533			—		—
Collective Trusts/Mutual Funds²	2,977		26			2,951		—		1,066		211			855		—
Fixed Income
Government	81		52			29		—		726		46			680		—
Corporate	1,275		—			1,275		—		545		23			499		23
Mortgage-Backed Securities	1		—			1		—		4		—			2		2
Other Asset Backed	—		—			—		—		—		—			—		—
Collective Trusts/Mutual Funds²	1,357		—			1,357		—		647		27			620		—
Mixed Funds³	—		—			—		—		120		5			115		—
Real Estate⁴	1,265		—			—		1,265		294		—			—		294
Cash and Cash Equivalents	385		385			—		—		173		173			—		—
Other⁵	70		(2		)	18		54		26		(2		)	25		3
Total at December 31, 2013	$	11,210	$	4,260		$	5,631	$	1,319	$	4,543	$	1,425		$	2,796	$	322


¹	U.S. equities include investments in the company’s common stock in the amount of $28 at December 31, 2013, and $27 at December 31, 2012.


²	Collective Trusts/Mutual Funds for U.S. plans are entirely index funds; for International plans, they are mostly index funds. For these index funds, the Level 2 designation is partially based on the restriction that advance notification of redemptions, typically two business days, is required.


³	Mixed funds are composed of funds that invest in both equity and fixed-income instruments in order to diversify and lower risk.


⁴	The year-end valuations of the U.S. real estate assets are based on internal appraisals by the real estate managers, which are updates of third-party appraisals that occur at least once a year for each property in the portfolio.


⁵	The “Other” asset class includes net payables for securities purchased but not yet settled (Level 1); dividends and interest- and tax-related receivables (Level 2); insurance contracts and investments in private-equity limited partnerships (Level 3).

The effect of fair-value measurements using significant unobservable inputs on changes in Level 3 plan assets for the period

The effects of fair value measurements using significant unobservable inputs on changes in Level 3 plan assets are outlined below:



	Fixed Income
				Mortgage-Backed
	Corporate			Securities		Real Estate		Other		Total
Total at December 31, 2011	$	27		$	2	$	998	$	56	$	1,083
Actual Return on Plan Assets:
Assets held at the reporting date	—			—		108		1		109
Assets sold during the period	—			—		2		—		2
Purchases, Sales and Settlements	4			—		182		—		186
Transfers in and/or out of Level 3	—			—		—		—		—
Total at December 31, 2012	$	31		$	2	$	1,290	$	57	$	1,380
Actual Return on Plan Assets:
Assets held at the reporting date	(9		)	—		90		—		81
Assets sold during the period	—			—		3		—		3
Purchases, Sales and Settlements	1			—		176		—		177
Transfers in and/or out of Level 3	—			—		—		—		—
Total at December 31, 2013	$	23		$	2	$	1,559	$	57	$	1,641

Benefit payments, which include estimated future service that are expected to be paid by the company in the next 10 years

The following benefit payments, which include estimated future service, are expected to be paid by the company in the next 10 years:



	Pension Benefits				Other
	U.S.		Int’l.		Benefits
2014	$	1,212	$	284	$	215
2015	$	1,187	$	290	$	218
2016	$	1,170	$	284	$	221
2017	$	1,175	$	363	$	224
2018	$	1,168	$	391	$	227
2019-2023	$	5,399	$	2,307	$	1,148

LESOP shares

LESOP shares as of December 31, 2013 and 2012, were as follows:

Allocated shares

Unallocated shares

Total LESOP shares