PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)

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PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2016
Pension Plan
Pension and other postretirement benefits
Schedule of Net Funded Status	The changes in the benefit obligations, the various plan assets, the funded status of the plans and the amounts recognized in our Consolidated Balance Sheets for our significant pension plans at December 31 were as follows:     Qualified and Non-Qualified Pension Plans     U.S. Plans   U.K. Plans In millions   2016   2015   2016   2015 Change in benefit obligation                 Benefit obligation at the beginning of the year   $ 2,533   $ 2,579   $ 1,390   $ 1,522 Service cost   90   80   21   27 Interest cost   109   102   50   56 Actuarial loss (gain)   111   (76 )   316   (88 ) Benefits paid from fund   (175 )   (139 )   (55 )   (53 ) Benefits paid directly by employer   (16 )   (13 )   —   — Plan amendments   9   —   —   — Exchange rate changes   —   —   (271 )   (74 ) Benefit obligation at end of year   $ 2,661   $ 2,533   $ 1,451   $ 1,390 Change in plan assets                 Fair value of plan assets at beginning of year   $ 2,636   $ 2,713   $ 1,712   $ 1,724 Actual return on plan assets   200   (8 )   402   20 Employer contributions   90   70   28   107 Benefits paid   (175 )   (139 )   (55 )   (53 ) Exchange rate changes   —   —   (334 )   (86 ) Fair value of plan assets at end of year   $ 2,751   $ 2,636   $ 1,753   $ 1,712 Funded status (including underfunded and nonfunded plans) at end of year   $ 90   $ 103   $ 302   $ 322 Amounts recognized in consolidated balance sheets                 Pension assets - long-term   $ 429   $ 413   $ 302   $ 322 Accrued compensation, benefits and retirement costs - current liabilities   (13 )   (12 )   —   — Pensions - long-term liabilities   (326 )   (298 )   —   — Net amount recognized   $ 90   $ 103   $ 302   $ 322 Amounts recognized in accumulated other comprehensive loss                 Net actuarial loss   $ 770   $ 689   $ 172   $ 228 Prior service cost (credit)   9   (1 )   —   — Net amount recognized   $ 779   $ 688   $ 172   $ 228
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets	The following table presents information regarding total accumulated benefit obligation, PBO's and underfunded pension plans that are included in the preceding table:     Qualified and Non-Qualified Pension Plans     U.S. Plans   U.K. Plans In millions   2016   2015   2016   2015 Total accumulated benefit obligation   $ 2,625   $ 2,499   $ 1,366   $ 1,311 Plans with accumulated benefit obligation in excess of plan assets                 Accumulated benefit obligation   304   276   —   — Plans with projected benefit obligation in excess of plan assets                 Projected benefit obligation   339   311   —   —
Schedule of Net Benefit Costs	The following table presents the net periodic pension cost under our plans for the years ended December 31:     Qualified and Non-Qualified Pension Plans     U.S. Plans   U.K. Plans In millions   2016   2015   2014   2016   2015   2014 Service cost   $ 90   $ 80   $ 66   $ 21   $ 27   $ 24 Interest cost   109   102   105   50   56   63 Expected return on plan assets   (201 )   (189 )   (173 )   (71 )   (91 )   (84 ) Amortization of prior service credit   —   (1 )   (1 )   —   —   — Recognized net actuarial loss   29   45   31   15   34   26 Net periodic pension cost   $ 27   $ 37   $ 28   $ 15   $ 26   $ 29
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	Other changes in benefit obligations and plan assets recognized in other comprehensive income for the years ended December 31 were as follows: In millions   2016   2015   2014 Amortization of prior service credit   $ —   $ 1   $ 1 Recognized net actuarial loss   (44 )   (79 )   (57 ) Incurred actuarial loss   107   105   133 Foreign exchange translation adjustments   (28 )   (7 )   (18 ) Total recognized in other comprehensive income   $ 35   $ 20   $ 59               Total recognized in net periodic pension cost and other comprehensive income   $ 77   $ 83   $ 116
Schedule of Assumptions Used	The table below presents various assumptions used in determining the net periodic pension cost and reflects weighted-average percentages for the various plans as follows:     Qualified and Non-Qualified Pension Plans     U.S. Plans   U.K. Plans     2016   2015   2014   2016   2015   2014 Discount rate   4.47 %   4.07 %   4.83 %   3.95 %   3.80 %   4.60 % Expected return on plan assets   7.50 %   7.50 %   7.50 %   4.70 %   5.80 %   5.80 % Compensation increase rate   4.87 %   4.88 %   4.91 %   3.75 %   4.25 %   4.50 % The table below presents various assumptions used in determining the PBO for each year and reflects weighted-average percentages for the various plans as follows:     Qualified and Non-Qualified Pension Plans     U.S. Plans   U.K. Plans     2016   2015   2016   2015 Discount rate   4.12 %   4.47 %   2.70 %   3.95 % Compensation increase rate   4.87 %   4.88 %   3.75 %   3.75 %
Schedule of Expected Benefit Payments	The table below presents expected future benefit payments under our pension plans:     Qualified and Non-Qualified Pension Plans In millions   2017   2018   2019   2020   2021   2022 - 2026 Expected benefit payments   $ 241   $ 237   $ 243   $ 249   $ 254   $ 1,322
U.S. Plans
Pension and other postretirement benefits
Schedule of Allocation of Plan Assets	The primary investment objective is to exceed, on a net-of-fee basis, the rate of return of a policy portfolio comprised of the following: Asset Class   Target   Range U.S. equities   13.0 %   +/-5.0% Non-U.S. equities   5.0 %   +/-3.0% Global equities   6.0 %   +/-3.0% Total equities   24.0 %     Real estate   7.5 %   +2.5/-7.5% Private equity/venture capital   7.5 %   +2.5/-7.5% Opportunistic credit   4.0 %   +6.0/-4.0% Fixed income   57.0 %   +/-5.0% Total   100.0 %
Fair Value, Assets Measured on Recurring Basis	The fair values of U.S. pension plan assets by asset category were as follows:     Fair Value Measurements at December 31, 2016 In millions   Quoted prices in active markets for identical assets (Level 1)   Significant other observable inputs (Level 2)   Significant unobservable inputs (Level 3)   Total Equities                 U.S.   $ 145   $ —   $ —   $ 145 Non-U.S.   125   —   —   125 Fixed income               Government debt   —   570   —   570 Corporate debt               U.S.   —   497   —   497 Non-U.S.   —   84   —   84 Asset/mortgaged backed securities   —   58   —   58 Net cash equivalents(1)   18   20   —   38 Derivative instruments(2)   —   9   —   9 Private equity and real estate(3)   —   —   212   212 Net plan assets subject to leveling   $ 288   $ 1,238   $ 212   $ 1,738 Pending trade/purchases/sales               (83 ) Accruals(4)               12 Investments measured at net asset value               1,084 Net plan assets               $ 2,751     Fair Value Measurements at December 31, 2015 In millions   Quoted prices in active markets for identical assets (Level 1)   Significant other observable inputs (Level 2)   Significant unobservable inputs (Level 3)   Total Equities                 U.S.   $ 96   $ —   $ —   $ 96 Non-U.S.   130   —   —   130 Fixed income               Government debt   —   533   —   533 Corporate debt               U.S.   —   406   —   406 Non-U.S.   —   80   —   80 Asset/mortgaged backed securities   —   56   —   56 Net cash equivalents (1)   42   10   —   52 Derivative instruments (2)   —   3   —   3 Private equity and real estate (3)   —   —   203   203 Net plan assets subject to leveling   $ 268   $ 1,088   $ 203   $ 1,559 Pending trade/purchases/sales               (27 ) Accruals (4)               10 Investments measured at net asset value               1,094 Net plan assets               $ 2,636 ____________________________________________________ (1) Cash equivalents include commercial paper, short-term government/agency, mortgage and credit instruments. (2) Derivative instruments include interest rate swaps and credit default swaps. (3) The instruments in private equity, real estate and insurance funds, 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 statement of the funds. (4) Accruals include interest or dividends that were not settled at December 31.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets	The reconciliation of Level 3 assets was as follows:     Fair Value Measurements Using Significant Unobservable Inputs (Level 3) In millions   Private Equity   Real Estate   Total Balance at December 31, 2014   $ 148   $ 54   $ 202 Actual return on plan assets             Unrealized gains on assets still held at the reporting date   17   8   25 Purchases, sales and settlements, net   (22 )   (2 )   (24 ) Balance at December 31, 2015   143   60   203 Actual return on plan assets             Unrealized gains on assets still held at the reporting date   6   6   12 Purchases, sales and settlements, net   (1 )   (2 )   (3 ) Balance at December 31, 2016   $ 148   $ 64   $ 212
Non-U.S. Plans
Pension and other postretirement benefits
Schedule of Allocation of Plan Assets	To achieve these objectives we have established the following targets: Asset Class   Target Global equities   23.0 % Real estate   5.0 % Re-insurance   8.0 % Corporate credit instruments   7.5 % Fixed income   56.5 % Total   100.0 %
Fair Value, Assets Measured on Recurring Basis	The fair values of U.K. pension plan assets by asset category were as follows:     Fair Value Measurements at December 31, 2016 In millions   Quoted prices in active markets for identical assets (Level 1)   Significant other observable inputs (Level 2)   Significant unobservable inputs (Level 3)   Total Equities                 U.S.   $ —   $ 174   $ —   $ 174 Non-U.S.   —   193   —   193 Fixed income                 Net cash equivalents (1)   24   —   —   24 Private equity, real estate and insurance (2)   —   —   613   613 Net plan assets subject to leveling   $ 24   $ 367   $ 613   $ 1,004 Investments measured at net asset value               749 Net plan assets               $ 1,753     Fair Value Measurements at December 31, 2015 In millions   Quoted prices in active markets for identical assets (Level 1)   Significant other observable inputs (Level 2)   Significant unobservable inputs (Level 3)   Total Equities                 U.S.   $ —   $ 250   $ —   $ 250 Non-U.S.   —   269   —   269 Fixed income               Corporate debt non-U.S.   —   45   —   45 Net cash equivalents (1)   33   —   —   33 Private equity, real estate and insurance (2)   —   —   601   601 Net plan assets subject to leveling   $ 33   $ 564   $ 601   $ 1,198 Investments measured at net asset value               514 Net plan assets               $ 1,712 _____________________________________________________ (1)  Cash equivalents include commercial paper, short-term government/agency, mortgage and credit instruments. (2)  The instruments in private equity, real estate and insurance funds, 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 statement of the funds.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets	The reconciliation of Level 3 assets was as follows:     Fair Value Measurements Using Significant Unobservable Inputs (Level 3) In millions   Insurance   Real Estate   Private Equity   Total Balance at December 31, 2014   $ 462   $ 61   $ 81   $ 604 Actual return on plan assets                 Unrealized gains on assets still held at the reporting date   6   7   10   23 Purchases, sales and settlements, net   (23 )   (11 )   8   (26 ) Balance at December 31, 2015   445   57   99   601 Actual return on plan assets                 Unrealized (losses) gains on assets still held at the reporting date   (6 )   (7 )   15   2 Purchases, sales and settlements, net   —   7   3   10 Balance at December 31, 2016   $ 439   $ 57   $ 117   $ 613
Other Postretirement Benefit Plan
Pension and other postretirement benefits
Schedule of Net Funded Status	The changes in the benefit obligations, the funded status of the plans and the amounts recognized in our Consolidated Balance Sheets for our significant other postretirement benefit plans were as follows:     Years ended December 31, In millions   2016   2015 Change in benefit obligation         Benefit obligation at the beginning of the year   $ 385   $ 408 Interest cost   16   15 Plan participants' contributions   14   10 Actuarial loss   9   5 Benefits paid directly by employer   (60 )   (53 ) Benefit obligation at end of year   $ 364   $ 385           Funded status at end of year   $ (364 )   $ (385 )           Amounts recognized in consolidated balance sheets         Accrued compensation, benefits and retirement costs - current liabilities   $ (35 )   $ (36 ) Postretirement benefits other than pensions-long-term liabilities   (329 )   (349 ) Net amount recognized   $ (364 )   $ (385 )           Amounts recognized in accumulated other comprehensive loss:         Net actuarial loss   $ 69   $ 66 Prior service credit   (5 )   (5 ) Net amount recognized   $ 64   $ 61
Schedule of Net Benefit Costs	The following table presents the net periodic other postretirement benefits cost under our plans:     Years ended December 31, In millions   2016   2015   2014 Interest cost   $ 16   $ 15   $ 17 Recognized net actuarial loss   5   5   — Net periodic other postretirement benefit cost   $ 21   $ 20   $ 17
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	Other changes in benefit obligations recognized in other comprehensive income for the years ended December 31 were as follows:     Years ended December 31, In millions   2016   2015   2014 Recognized net actuarial loss   $ (6 )   $ (5 )   $ — Incurred actuarial loss   9   6   38 Total recognized in other comprehensive income   $ 3   $ 1   $ 38               Total recognized in net periodic other postretirement benefit cost and other comprehensive income   $ 24   $ 21   $ 55
Schedule of Assumptions Used	The table below presents assumptions used in determining the other postretirement benefit obligation for each year and reflects weighted-average percentages for our other postretirement plans as follows:     2016   2015 Discount rate   4.00 %   4.35 % The table below presents assumptions used in determining the net periodic other postretirement benefits cost and reflects weighted-average percentages for the various plans as follows:     2016   2015   2014 Discount rate   4.35 %   3.90 %   4.55 %
Schedule of Expected Benefit Payments	The table below presents expected benefit payments under our other postretirement benefit plans: In millions   2017   2018   2019   2020   2021   2022 - 2026 Expected benefit payments   $ 35   $ 33   $ 32   $ 30   $ 29   $ 126