Non-U.S. Pension Benefits | Non-U.S. Postretirement Benefits | ||||||||||||||
(In millions of dollars) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Change in benefit obligation: | |||||||||||||||
Benefit obligation at beginning of year | $ | 8,579 | $ | 7,717 | $ | 107 | $ | 91 | |||||||
Service cost | 148 | 147 | 2 | 2 | |||||||||||
Interest cost | 352 | 366 | 4 | 5 | |||||||||||
Employee contributions | 11 | 11 | — | — | |||||||||||
Actuarial (gain) loss | (53 | ) | 419 | (8 | ) | 10 | |||||||||
Plan amendments | — | (71 | ) | — | — | ||||||||||
Effect of settlement | (2 | ) | (11 | ) | — | — | |||||||||
Effect of curtailment | — | (3 | ) | — | (1 | ) | |||||||||
Benefits paid | (293 | ) | (278 | ) | (4 | ) | (4 | ) | |||||||
Foreign currency changes | (31 | ) | 280 | (4 | ) | 4 | |||||||||
Other | — | 2 | — | — | |||||||||||
Benefit obligation December 31 | $ | 8,711 | $ | 8,579 | $ | 97 | $ | 107 | |||||||
Change in plan assets: | |||||||||||||||
Fair value of plan assets at beginning of year | $ | 8,312 | $ | 7,206 | $ | — | $ | — | |||||||
Actual return on plan assets | 698 | 721 | — | — | |||||||||||
Effect of settlement | (2 | ) | (11 | ) | — | — | |||||||||
Company contributions | 620 | 389 | 4 | 4 | |||||||||||
Employee contributions | 11 | 11 | — | — | |||||||||||
Benefits paid | (293 | ) | (278 | ) | (4 | ) | (4 | ) | |||||||
Foreign currency changes | 5 | 273 | — | — | |||||||||||
Other | — | 1 | — | — | |||||||||||
Fair value of plan assets, December 31 | $ | 9,351 | $ | 8,312 | $ | — | $ | — | |||||||
Net funded status, December 31 | $ | 640 | $ | (267 | ) | $ | (97 | ) | $ | (107 | ) | ||||
Amounts recognized in the consolidated balance sheets: | |||||||||||||||
Non-current assets | $ | 977 | $ | 258 | $ | — | $ | — | |||||||
Current liabilities | (5 | ) | (6 | ) | (4 | ) | (4 | ) | |||||||
Non-current liabilities | (332 | ) | (519 | ) | (93 | ) | (103 | ) | |||||||
Net asset (liability) recognized, December 31 | $ | 640 | $ | (267 | ) | $ | (97 | ) | $ | (107 | ) | ||||
Amounts recognized in other comprehensive income (loss): | |||||||||||||||
Prior service credit | $ | 85 | $ | 93 | $ | — | $ | — | |||||||
Net actuarial (loss) gain | (3,010 | ) | (3,309 | ) | (16 | ) | (27 | ) | |||||||
Total recognized accumulated other comprehensive (loss) income, December 31 | $ | (2,925 | ) | $ | (3,216 | ) | $ | (16 | ) | $ | (27 | ) | |||
Cumulative employer contributions in excess (deficient) of net periodic cost | 3,565 | 2,949 | (81 | ) | (80 | ) | |||||||||
Net asset (liability) recognized in consolidated balance sheet, December 31 | $ | 640 | $ | (267 | ) | $ | (97 | ) | $ | (107 | ) | ||||
Accumulated benefit obligation, December 31 | $ | 8,413 | $ | 8,229 | $ | — | $ | — |
Non-U.S. Pension Benefits | Non-U.S. Postretirement Benefits | ||||||||||||||
(In millions of dollars) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Reconciliation of prior service credit (cost): | |||||||||||||||
Beginning balance | $ | 93 | $ | 23 | $ | — | $ | 1 | |||||||
Recognized as component of net periodic benefit credit | (6 | ) | (3 | ) | — | (1 | ) | ||||||||
Effect of curtailment | — | (1 | ) | — | — | ||||||||||
Changes in plan assets and benefit obligations recognized in other comprehensive income: | |||||||||||||||
Plan amendments | — | 71 | — | — | |||||||||||
Exchange rate adjustments | (2 | ) | 3 | — | — | ||||||||||
Prior service credit, December 31 | $ | 85 | $ | 93 | $ | — | $ | — |
Non-U.S. Pension Benefits | Non-U.S. Postretirement Benefits | ||||||||||||||
(In millions of dollars) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Reconciliation of net actuarial gain (loss): | |||||||||||||||
Beginning balance | $ | (3,309 | ) | $ | (3,038 | ) | $ | (27 | ) | $ | (19 | ) | |||
Recognized as component of net periodic benefit cost | 108 | 118 | 2 | 1 | |||||||||||
Effect of settlement | — | 1 | — | — | |||||||||||
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss): | |||||||||||||||
Liability experience | 53 | (419 | ) | 8 | (10 | ) | |||||||||
Asset experience | 111 | 138 | — | — | |||||||||||
Effect of curtailment | — | 3 | — | 1 | |||||||||||
Total amount recognized as change in plan assets and benefit obligations | 164 | (278 | ) | 8 | (9 | ) | |||||||||
Exchange rate adjustments | 27 | (112 | ) | 1 | — | ||||||||||
Net actuarial gain (loss), December 31 | $ | (3,010 | ) | $ | (3,309 | ) | $ | (16 | ) | $ | (27 | ) |
For the Years Ended December 31, | Non-U.S. Pension Benefits | Non-U.S. Postretirement Benefits | |||||||||||||||||||||
(In millions of dollars) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||
Total recognized in net periodic benefit cost and other comprehensive (income) loss | $ | (276 | ) | $ | 246 | $ | 792 | $ | (2 | ) | $ | 16 | $ | 12 |
U.S. Pension Benefits | U.S. Postretirement Benefits | ||||||||||||||
(In millions of dollars) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Change in benefit obligation: | |||||||||||||||
Benefit obligation at beginning of year | $ | 5,197 | $ | 4,533 | $ | 176 | $ | 162 | |||||||
Service cost | 104 | 93 | 3 | 3 | |||||||||||
Interest cost | 229 | 230 | 7 | 8 | |||||||||||
Plan combination | 36 | — | — | — | |||||||||||
Actuarial (gain) loss | (547 | ) | 522 | (15 | ) | 13 | |||||||||
Medicare Part D subsidy | — | — | 1 | 3 | |||||||||||
Benefits paid | (192 | ) | (181 | ) | (14 | ) | (13 | ) | |||||||
Benefit obligation, December 31 | $ | 4,827 | $ | 5,197 | $ | 158 | $ | 176 | |||||||
Change in plan assets: | |||||||||||||||
Fair value of plan assets at beginning of year | $ | 3,936 | $ | 3,493 | $ | — | $ | — | |||||||
Plan combination | 21 | — | — | — | |||||||||||
Actual return on plan assets | 488 | 500 | — | — | |||||||||||
Employer contributions | 26 | 124 | 13 | 10 | |||||||||||
Medicare Part D subsidy | — | — | 1 | 3 | |||||||||||
Benefits paid | (192 | ) | (181 | ) | (14 | ) | (13 | ) | |||||||
Fair value of plan assets, December 31 | $ | 4,279 | $ | 3,936 | $ | — | $ | — | |||||||
Net funded status, December 31 | $ | (548 | ) | $ | (1,261 | ) | $ | (158 | ) | $ | (176 | ) | |||
Amounts recognized in the consolidated balance sheets: | |||||||||||||||
Current liabilities | $ | (24 | ) | $ | (25 | ) | $ | (8 | ) | $ | (9 | ) | |||
Noncurrent liabilities | (524 | ) | (1,236 | ) | (150 | ) | (167 | ) | |||||||
Net liability recognized, December 31 | $ | (548 | ) | $ | (1,261 | ) | $ | (158 | ) | $ | (176 | ) | |||
Amounts recognized in other comprehensive income (loss): | |||||||||||||||
Prior service credit | $ | 7 | $ | 23 | $ | — | $ | — | |||||||
Net actuarial (loss) gain | (974 | ) | (1,887 | ) | 13 | (2 | ) | ||||||||
Total recognized accumulated other comprehensive (loss) income, December 31 | $ | (967 | ) | $ | (1,864 | ) | $ | 13 | $ | (2 | ) | ||||
Cumulative employer contributions in excess (deficient) of net periodic cost | 419 | 603 | (171 | ) | (174 | ) | |||||||||
Net amount recognized in consolidated balance sheet | $ | (548 | ) | $ | (1,261 | ) | $ | (158 | ) | $ | (176 | ) | |||
Accumulated benefit obligation at December 31 | $ | 4,753 | $ | 5,114 | $ | — | $ | — |
U.S. Pension Benefits | U.S. Postretirement Benefits | ||||||||||||||
(In millions of dollars) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Reconciliation of prior service credit (charge) recognized in accumulated other comprehensive income (loss): | |||||||||||||||
Beginning balance | $ | 23 | $ | 39 | $ | — | $ | 13 | |||||||
Recognized as component of net periodic benefit credit | (16 | ) | (16 | ) | — | (13 | ) | ||||||||
Prior service credit, December 31 | $ | 7 | $ | 23 | $ | — | $ | — |