Annual report pursuant to Section 13 and 15(d)

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 4) - Fair Value of Plan Assets

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PENSION AND OTHER POSTRETIREMENT BENEFITS (Details 4) - Fair Value of Plan Assets - USD ($)
$ in Millions
 1 Months Ended
Jul. 31, 2012
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
U.S. PENSION PLAN        
Pension and other postretirement benefits        
Fair value of plan assets   $ 3,357 $ 2,937 $ 3,166
Pending Trade Purchases, Sales     9  
Accrued Investment Income Receivable [1]   5 5  
U.S. PENSION PLAN | U.S. Equity        
Pension and other postretirement benefits        
Fair value of plan assets   96 77  
U.S. PENSION PLAN | Non-U.S. Equity        
Pension and other postretirement benefits        
Fair value of plan assets   47 42  
U.S. PENSION PLAN | Government debt        
Pension and other postretirement benefits        
Fair value of plan assets   72 38  
U.S. PENSION PLAN | Domestic Corporate Debt Securities        
Pension and other postretirement benefits        
Fair value of plan assets   357 323  
U.S. PENSION PLAN | Foreign Corporate Debt Securities        
Pension and other postretirement benefits        
Fair value of plan assets   11 15  
U.S. PENSION PLAN | Asset-backed Securities        
Pension and other postretirement benefits        
Fair value of plan assets   1 5  
U.S. PENSION PLAN | Net cash equivalents        
Pension and other postretirement benefits        
Fair value of plan assets [2]   371 192  
U.S. PENSION PLAN | Private Equity and Real Estate        
Pension and other postretirement benefits        
Fair value of plan assets [3]   371 316  
U.S. PENSION PLAN | Fair Value, Inputs, Level 1        
Pension and other postretirement benefits        
Fair value of plan assets   481 294  
U.S. PENSION PLAN | Fair Value, Inputs, Level 1 | U.S. Equity        
Pension and other postretirement benefits        
Fair value of plan assets   96 77  
U.S. PENSION PLAN | Fair Value, Inputs, Level 1 | Non-U.S. Equity        
Pension and other postretirement benefits        
Fair value of plan assets   47 42  
U.S. PENSION PLAN | Fair Value, Inputs, Level 1 | Net cash equivalents        
Pension and other postretirement benefits        
Fair value of plan assets [2]   338 175  
U.S. PENSION PLAN | Significant other observable inputs Level 2        
Pension and other postretirement benefits        
Fair value of plan assets   474 398  
U.S. PENSION PLAN | Significant other observable inputs Level 2 | Government debt        
Pension and other postretirement benefits        
Fair value of plan assets   72 38  
U.S. PENSION PLAN | Significant other observable inputs Level 2 | Domestic Corporate Debt Securities        
Pension and other postretirement benefits        
Fair value of plan assets   357 323  
U.S. PENSION PLAN | Significant other observable inputs Level 2 | Foreign Corporate Debt Securities        
Pension and other postretirement benefits        
Fair value of plan assets   11 15  
U.S. PENSION PLAN | Significant other observable inputs Level 2 | Asset-backed Securities        
Pension and other postretirement benefits        
Fair value of plan assets   1 5  
U.S. PENSION PLAN | Significant other observable inputs Level 2 | Net cash equivalents        
Pension and other postretirement benefits        
Fair value of plan assets [2]   33 17  
U.S. PENSION PLAN | Fair Value, Inputs, Level 3        
Pension and other postretirement benefits        
Fair value of plan assets   371 316 246
U.S. PENSION PLAN | Fair Value, Inputs, Level 3 | Real Assets        
Pension and other postretirement benefits        
Fair value of plan assets   72 69 66
U.S. PENSION PLAN | Fair Value, Inputs, Level 3 | Private Equity and Real Estate        
Pension and other postretirement benefits        
Fair value of plan assets [3]   371 316  
U.S. PENSION PLAN | Fair Value, Inputs, Level 1, 2 and 3        
Pension and other postretirement benefits        
Fair value of plan assets   1,326 1,008  
U.S. PENSION PLAN | Fair Value Measured at Net Asset Value Per Share        
Pension and other postretirement benefits        
Fair value of plan assets   2,026 1,915  
U.S. PENSION PLAN | Fair Value Measured at Net Asset Value Per Share | Global Equities        
Pension and other postretirement benefits        
Fair value of plan assets   367 343  
U.S. PENSION PLAN | Fair Value Measured at Net Asset Value Per Share | Real Assets        
Pension and other postretirement benefits        
Fair value of plan assets   140 147  
U.S. PENSION PLAN | Fair Value Measured at Net Asset Value Per Share | Government debt        
Pension and other postretirement benefits        
Fair value of plan assets   503 602  
U.S. PENSION PLAN | Fair Value Measured at Net Asset Value Per Share | Asset-backed Securities        
Pension and other postretirement benefits        
Fair value of plan assets   77 2  
U.S. PENSION PLAN | Fair Value Measured at Net Asset Value Per Share | Corporate Debt Securities        
Pension and other postretirement benefits        
Fair value of plan assets   939 821  
U.K. PENSION PLAN        
Pension and other postretirement benefits        
Fair value of plan assets   2,010 1,782 1,960
U.K. PENSION PLAN | U.S. Equity        
Pension and other postretirement benefits        
Fair value of plan assets   45 47  
U.K. PENSION PLAN | Non-U.S. Equity        
Pension and other postretirement benefits        
Fair value of plan assets   58 61  
U.K. PENSION PLAN | Net cash equivalents        
Pension and other postretirement benefits        
Fair value of plan assets [4]   35 12  
U.K. PENSION PLAN | Insurance annuity (2)        
Pension and other postretirement benefits        
Fair value of plan assets [5]   476 442  
Insurance Contract Payment Deferment Period 10 years      
U.K. PENSION PLAN | Private markets and real assets (3)        
Pension and other postretirement benefits        
Fair value of plan assets [6]   259 244  
U.K. PENSION PLAN | Fair Value, Inputs, Level 1        
Pension and other postretirement benefits        
Fair value of plan assets   35 12  
U.K. PENSION PLAN | Fair Value, Inputs, Level 1 | Net cash equivalents        
Pension and other postretirement benefits        
Fair value of plan assets [4]   35 12  
U.K. PENSION PLAN | Significant other observable inputs Level 2        
Pension and other postretirement benefits        
Fair value of plan assets   103 108  
U.K. PENSION PLAN | Significant other observable inputs Level 2 | U.S. Equity        
Pension and other postretirement benefits        
Fair value of plan assets   45 47  
U.K. PENSION PLAN | Significant other observable inputs Level 2 | Non-U.S. Equity        
Pension and other postretirement benefits        
Fair value of plan assets   58 61  
U.K. PENSION PLAN | Fair Value, Inputs, Level 3        
Pension and other postretirement benefits        
Fair value of plan assets   735 686 671
U.K. PENSION PLAN | Fair Value, Inputs, Level 3 | Real Assets        
Pension and other postretirement benefits        
Fair value of plan assets   35 57 $ 59
U.K. PENSION PLAN | Fair Value, Inputs, Level 3 | Insurance annuity (2)        
Pension and other postretirement benefits        
Fair value of plan assets [5]   476 442  
U.K. PENSION PLAN | Fair Value, Inputs, Level 3 | Private markets and real assets (3)        
Pension and other postretirement benefits        
Fair value of plan assets [6]   259 244  
U.K. PENSION PLAN | Fair Value, Inputs, Level 1, 2 and 3        
Pension and other postretirement benefits        
Fair value of plan assets   873 806  
U.K. PENSION PLAN | Fair Value Measured at Net Asset Value Per Share        
Pension and other postretirement benefits        
Fair value of plan assets   1,137 976  
U.K. PENSION PLAN | Fair Value Measured at Net Asset Value Per Share | Global Equities        
Pension and other postretirement benefits        
Fair value of plan assets   160 100  
U.K. PENSION PLAN | Fair Value Measured at Net Asset Value Per Share | Asset-backed Securities        
Pension and other postretirement benefits        
Fair value of plan assets   96 0  
U.K. PENSION PLAN | Fair Value Measured at Net Asset Value Per Share | Corporate Debt Securities        
Pension and other postretirement benefits        
Fair value of plan assets   791 753  
U.K. PENSION PLAN | Fair Value Measured at Net Asset Value Per Share | Diversified Strategies        
Pension and other postretirement benefits        
Fair value of plan assets   60 46  
U.K. PENSION PLAN | Fair Value Measured at Net Asset Value Per Share | Reinsurance        
Pension and other postretirement benefits        
Fair value of plan assets   $ 30 $ 77  
[1]
Accruals include interest or dividends that were not settled at December 31.
[2]
Cash equivalents include commercial paper, short-term government/agency, mortgage and credit instruments.
[3] The instruments in private markets and real assets, for which quoted market prices are not available, are valued at their estimated fair value as determined by applicable investment managers or by audited financial statements of the funds. Private markets include equity, venture capital and private credit instruments and funds. Real assets include real estate and infrastructure.
[4]
Cash equivalents include commercial paper, short-term government/agency, mortgage and credit instruments.
[5]
In July 2012, the U.K. pension plan purchased an insurance contract that will guarantee payment of specified pension liabilities. The contract defers payment for 10 years.
[6]
The instruments in private markets and real assets, for which quoted market prices are not available, are valued at their estimated fair value as determined by applicable investment managers or by audited financial statements of the funds. Private markets include equity, venture capital and private credit instruments and funds. Real assets include real estate and infrastructure.