|
EMPLOYEE BENEFIT PLANS (Tables)
|
12 Months Ended |
|
Dec. 31, 2012
|
| EMPLOYEE BENEFIT PLANS |
|
| Schedule of funded status of the plans and the amounts recognized in the consolidated balance sheets |
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Defined Benefit Plans |
|
Other Postretirement Benefit Plans |
|
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|
2012 |
|
2011 |
|
2012 |
|
2011 |
|
|
|
U.S.
Plans |
|
Non-U.S.
Plans |
|
U.S.
Plans |
|
Non-U.S.
Plans |
|
U.S.
Plans |
|
Non-U.S.
Plans |
|
U.S.
Plans |
|
Non-U.S.
Plans |
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Change in benefit obligation
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Benefit obligation at beginning of year
|
|
$ |
834 |
|
$ |
2,331 |
|
$ |
761 |
|
$ |
2,255 |
|
$ |
128 |
|
$ |
7 |
|
$ |
129 |
|
$ |
7 |
|
|
Service cost
|
|
|
26 |
|
|
32 |
|
|
23 |
|
|
44 |
|
|
4 |
|
|
— |
|
|
3 |
|
|
— |
|
|
Interest cost
|
|
|
42 |
|
|
102 |
|
|
44 |
|
|
110 |
|
|
6 |
|
|
— |
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|
7 |
|
|
1 |
|
|
Participant contributions
|
|
|
— |
|
|
9 |
|
|
— |
|
|
14 |
|
|
5 |
|
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— |
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|
5 |
|
|
— |
|
|
Plan amendments
|
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|
(26 |
) |
|
— |
|
|
— |
|
|
(1 |
) |
|
— |
|
|
— |
|
|
— |
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|
— |
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|
Foreign currency exchange rate changes
|
|
|
— |
|
|
80 |
|
|
— |
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(13 |
) |
|
— |
|
|
— |
|
|
— |
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(1 |
) |
|
Settlements/transfers
|
|
|
— |
|
|
(2 |
) |
|
— |
|
|
(20 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
Curtailments
|
|
|
— |
|
|
— |
|
|
— |
|
|
(38 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
Special termination benefits
|
|
|
— |
|
|
— |
|
|
— |
|
|
8 |
|
|
— |
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|
— |
|
|
— |
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|
— |
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|
Actuarial loss
|
|
|
127 |
|
|
360 |
|
|
47 |
|
|
83 |
|
|
9 |
|
|
— |
|
|
1 |
|
|
— |
|
|
Benefits paid
|
|
|
(45 |
) |
|
(157 |
) |
|
(41 |
) |
|
(111 |
) |
|
(16 |
) |
|
— |
|
|
(17 |
) |
|
(1 |
) |
| |
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Benefit obligation at end of year
|
|
$ |
958 |
|
$ |
2,755 |
|
$ |
834 |
|
$ |
2,331 |
|
$ |
136 |
|
$ |
7 |
|
$ |
128 |
|
$ |
6 |
|
| |
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Change in plan assets
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Fair value of plan assets at beginning of year
|
|
$ |
538 |
|
$ |
2,026 |
|
$ |
517 |
|
$ |
2,025 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
Actual return on plan assets
|
|
|
71 |
|
|
221 |
|
|
(7 |
) |
|
43 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
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|
Foreign currency exchange rate changes
|
|
|
— |
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|
65 |
|
|
— |
|
|
(10 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
Participant contributions
|
|
|
— |
|
|
9 |
|
|
— |
|
|
14 |
|
|
5 |
|
|
— |
|
|
5 |
|
|
— |
|
|
Other
|
|
|
— |
|
|
— |
|
|
— |
|
|
(1 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
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|
Company contributions
|
|
|
72 |
|
|
75 |
|
|
69 |
|
|
86 |
|
|
11 |
|
|
1 |
|
|
12 |
|
|
1 |
|
|
Settlements/transfers
|
|
|
— |
|
|
(2 |
) |
|
— |
|
|
(20 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
Benefits paid
|
|
|
(45 |
) |
|
(157 |
) |
|
(41 |
) |
|
(111 |
) |
|
(16 |
) |
|
(1 |
) |
|
(17 |
) |
|
(1 |
) |
| |
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|
Fair value of plan assets at end of year
|
|
$ |
636 |
|
$ |
2,237 |
|
$ |
538 |
|
$ |
2,026 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
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| |
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Funded status
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Fair value of plan assets
|
|
$ |
636 |
|
$ |
2,237 |
|
$ |
538 |
|
$ |
2,026 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
Benefit obligation
|
|
|
958 |
|
|
2,755 |
|
|
834 |
|
|
2,331 |
|
|
136 |
|
|
7 |
|
|
128 |
|
|
6 |
|
| |
|
|
|
|
|
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|
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|
Accrued benefit cost
|
|
$ |
(322 |
) |
$ |
(518 |
) |
$ |
(296 |
) |
$ |
(305 |
) |
$ |
(136 |
) |
$ |
(7 |
) |
$ |
(128 |
) |
$ |
(6 |
) |
| |
|
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Amounts recognized in balance sheet:
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|
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Noncurrent asset
|
|
$ |
— |
|
$ |
1 |
|
$ |
— |
|
$ |
100 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
Current liability
|
|
|
(6 |
) |
|
(5 |
) |
|
(6 |
) |
|
(6 |
) |
|
(11 |
) |
|
(1 |
) |
|
(12 |
) |
|
— |
|
|
Noncurrent liability
|
|
|
(316 |
) |
|
(514 |
) |
|
(290 |
) |
|
(399 |
) |
|
(125 |
) |
|
(6 |
) |
|
(116 |
) |
|
(6 |
) |
| |
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(322 |
) |
$ |
(518 |
) |
$ |
(296 |
) |
$ |
(305 |
) |
$ |
(136 |
) |
$ |
(7 |
) |
$ |
(128 |
) |
$ |
(6 |
) |
| |
|
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|
| Schedule of amounts recognized in accumulated other comprehensive loss (income) |
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|
Defined Benefit Plans |
|
Other Postretirement
Benefit Plans |
|
|
|
2012 |
|
2011 |
|
2012 |
|
2011 |
|
|
|
U.S.
Plans |
|
Non-U.S.
Plans |
|
U.S.
Plans |
|
Non-U.S.
Plans |
|
U.S.
Plans |
|
Non-U.S.
Plans |
|
U.S.
Plans |
|
Non-U.S.
Plans |
|
|
Amounts recognized in accumulated other comprehensive loss:
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|
|
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|
|
|
|
|
|
|
|
|
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|
Net actuarial loss
|
|
$ |
449 |
|
$ |
867 |
|
$ |
368 |
|
$ |
636 |
|
$ |
32 |
|
$ |
1 |
|
$ |
25 |
|
$ |
1 |
|
|
Prior service cost
|
|
|
(42 |
) |
|
4 |
|
|
(22 |
) |
|
2 |
|
|
(8 |
) |
|
— |
|
|
(10 |
) |
|
— |
|
|
Transition obligation
|
|
|
1 |
|
|
— |
|
|
1 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
408 |
|
$ |
871 |
|
$ |
347 |
|
$ |
638 |
|
$ |
24 |
|
$ |
1 |
|
$ |
15 |
|
$ |
1 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| Schedule of amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year |
The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year are as follows (dollars in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Defined Benefit Plans |
|
Other Postretirement
Benefit Plans |
|
|
|
U.S. Plans |
|
Non-U.S.
Plans |
|
U.S. Plans |
|
Non-U.S.
Plans |
|
|
Actuarial loss
|
|
$ |
34 |
|
$ |
50 |
|
$ |
2 |
|
$ |
— |
|
|
Prior service cost
|
|
|
(6 |
) |
|
1 |
|
|
(3 |
) |
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
28 |
|
$ |
51 |
|
$ |
(1 |
) |
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
| Components of the net periodic benefit costs |
Components of net periodic benefit costs for the years ended December 31, 2012, 2011 and 2010 were as follows (dollars in millions):
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Defined Benefit Plans |
|
|
|
U.S. plans |
|
Non-U.S. plans |
|
|
|
2012 |
|
2011 |
|
2010 |
|
2012 |
|
2011 |
|
2010 |
|
|
Service cost
|
|
$ |
26 |
|
$ |
23 |
|
$ |
21 |
|
$ |
32 |
|
$ |
44 |
|
$ |
44 |
|
|
Interest cost
|
|
|
42 |
|
|
44 |
|
|
40 |
|
|
102 |
|
|
110 |
|
|
102 |
|
|
Expected return on plan assets
|
|
|
(48 |
) |
|
(47 |
) |
|
(42 |
) |
|
(133 |
) |
|
(140 |
) |
|
(121 |
) |
|
Amortization of prior service cost
|
|
|
(6 |
) |
|
(4 |
) |
|
(5 |
) |
|
(1 |
) |
|
(2 |
) |
|
(1 |
) |
|
Amortization of actuarial loss
|
|
|
21 |
|
|
16 |
|
|
11 |
|
|
28 |
|
|
21 |
|
|
19 |
|
|
Settlement loss
|
|
|
— |
|
|
— |
|
|
— |
|
|
13 |
|
|
— |
|
|
— |
|
|
Special termination benefits
|
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
8 |
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net periodic benefit cost
|
|
$ |
35 |
|
$ |
32 |
|
$ |
25 |
|
$ |
41 |
|
$ |
41 |
|
$ |
43 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Postretirement Benefit Plans |
|
|
|
U.S. plans |
|
Non-U.S. plans |
|
|
|
2012 |
|
2011 |
|
2010 |
|
2012 |
|
2011 |
|
2010 |
|
|
Service cost
|
|
$ |
4 |
|
$ |
3 |
|
$ |
3 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
Interest cost
|
|
|
7 |
|
|
7 |
|
|
7 |
|
|
1 |
|
|
1 |
|
|
— |
|
|
Amortization of prior service cost
|
|
|
(3 |
) |
|
(3 |
) |
|
(3 |
) |
|
— |
|
|
— |
|
|
— |
|
|
Amortization of actuarial loss
|
|
|
2 |
|
|
2 |
|
|
1 |
|
|
— |
|
|
— |
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net periodic benefit cost
|
|
$ |
10 |
|
$ |
9 |
|
$ |
8 |
|
$ |
1 |
|
$ |
1 |
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of amounts recognized in net periodic benefit cost and other comprehensive loss (income) |
The amounts recognized in net periodic benefit cost and other comprehensive loss as of December 31, 2012, 2011 and 2010 were as follows (dollars in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Defined Benefit Plans |
|
|
|
U.S. plans |
|
Non-U.S. plans |
|
|
|
2012 |
|
2011 |
|
2010 |
|
2012 |
|
2011 |
|
2010 |
|
|
Current year actuarial loss
|
|
$ |
103 |
|
$ |
101 |
|
$ |
16 |
|
$ |
272 |
|
$ |
182 |
|
$ |
20 |
|
|
Amortization of actuarial gain
|
|
|
(21 |
) |
|
(16 |
) |
|
(11 |
) |
|
(28 |
) |
|
(21 |
) |
|
(19 |
) |
|
Current year prior service cost
|
|
|
(26 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2 |
) |
|
— |
|
|
Amortization of prior service cost
|
|
|
6 |
|
|
4 |
|
|
4 |
|
|
1 |
|
|
2 |
|
|
1 |
|
|
Curtailment effects
|
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(38 |
) |
|
— |
|
|
Settlements
|
|
|
— |
|
|
— |
|
|
— |
|
|
(13 |
) |
|
— |
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total recognized in other comprehensive loss
|
|
|
62 |
|
|
89 |
|
|
9 |
|
|
232 |
|
|
123 |
|
|
2 |
|
|
Net periodic benefit cost
|
|
|
35 |
|
|
32 |
|
|
25 |
|
|
41 |
|
|
41 |
|
|
43 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total recognized in net periodic benefit cost and other comprehensive loss
|
|
$ |
97 |
|
$ |
121 |
|
$ |
34 |
|
$ |
273 |
|
$ |
164 |
|
$ |
45 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Postretirement Benefit Plans |
|
|
|
U.S. plans |
|
Non-U.S. plans |
|
|
|
2012 |
|
2011 |
|
2010 |
|
2012 |
|
2011 |
|
2010 |
|
|
Current year actuarial loss
|
|
$ |
9 |
|
$ |
1 |
|
$ |
5 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
Amortization of actuarial gain
|
|
|
(2 |
) |
|
(1 |
) |
|
(2 |
) |
|
— |
|
|
— |
|
|
— |
|
|
Amortization of prior service cost
|
|
|
3 |
|
|
2 |
|
|
3 |
|
|
— |
|
|
— |
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total recognized in other comprehensive loss
|
|
|
10 |
|
|
2 |
|
|
6 |
|
|
— |
|
|
— |
|
|
— |
|
|
Net periodic benefit cost
|
|
|
10 |
|
|
9 |
|
|
8 |
|
|
1 |
|
|
1 |
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total recognized in net periodic benefit cost and other comprehensive loss
|
|
$ |
20 |
|
$ |
11 |
|
$ |
14 |
|
$ |
1 |
|
$ |
1 |
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of weighted-average assumptions used to determine the projected benefit obligation and the net periodic pension cost |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Defined Benefit Plans |
|
|
|
U.S. plans |
|
Non U.S. plans |
|
|
|
2012 |
|
2011 |
|
2010 |
|
2012 |
|
2011 |
|
2010 |
|
|
Projected benefit obligation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Discount rate
|
|
|
4.18 |
% |
|
5.30 |
% |
|
5.70 |
% |
|
3.38 |
% |
|
4.39 |
% |
|
4.69 |
% |
|
Rate of compensation increase
|
|
|
4.19 |
% |
|
3.88 |
% |
|
3.88 |
% |
|
3.34 |
% |
|
3.44 |
% |
|
3.38 |
% |
|
Net periodic pension cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Discount rate
|
|
|
5.30 |
% |
|
5.70 |
% |
|
5.90 |
% |
|
4.39 |
% |
|
4.69 |
% |
|
4.94 |
% |
|
Rate of compensation increase
|
|
|
3.88 |
% |
|
3.88 |
% |
|
3.88 |
% |
|
3.44 |
% |
|
3.38 |
% |
|
3.23 |
% |
|
Expected return on plan assets
|
|
|
8.00 |
% |
|
8.19 |
% |
|
8.20 |
% |
|
6.52 |
% |
|
6.62 |
% |
|
6.65 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Postretirement Benefit Plans |
|
|
|
U.S. plans |
|
Non U.S. plans |
|
|
|
2012 |
|
2011 |
|
2010 |
|
2012 |
|
2011 |
|
2010 |
|
|
Projected benefit obligation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Discount rate
|
|
|
3.89 |
% |
|
5.09 |
% |
|
5.46 |
% |
|
5.79 |
% |
|
6.09 |
% |
|
6.69 |
% |
|
Net periodic pension cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Discount rate
|
|
|
5.09 |
% |
|
5.46 |
% |
|
5.59 |
% |
|
6.09 |
% |
|
6.69 |
% |
|
7.47 |
% |
|
| Schedule of effect on one-percent-point change in assumed health care cost trend rates |
A one-percent point change in assumed health care cost trend rates would have the following effects (dollars in millions):
|
|
|
|
|
|
|
|
|
|
Increase |
|
Decrease |
|
|
Asset category
|
|
|
|
|
|
|
|
|
Effect on total of service and interest cost
|
|
$ |
— |
|
$ |
— |
|
|
Effect on postretirement benefit obligation
|
|
|
3.6 |
|
|
(3.1 |
) |
|
| Schedule of projected benefit obligation and fair value of plan assets for the defined benefit plans with projected benefit obligations in excess of fair value of plan assets |
The projected benefit obligation and fair value of plan assets for the defined benefit plans with projected benefit obligations in excess of plan assets as of December 31, 2012 and 2011 were as follows (dollars in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. plans |
|
Non-U.S. plans |
|
|
|
2012 |
|
2011 |
|
2012 |
|
2011 |
|
|
Projected benefit obligation in excess of plan assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Projected benefit obligation
|
|
$ |
958 |
|
$ |
834 |
|
$ |
2,742 |
|
$ |
1,897 |
|
|
Fair value of plan assets
|
|
|
636 |
|
|
538 |
|
|
2,223 |
|
|
1,492 |
|
|
| Schedule of defined benefit plans with an accumulated benefit obligation in excess of fair value of plan assets |
The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the defined benefit plans with an accumulated benefit obligation in excess of plan assets as of December 31, 2012 and 2011 were as follows (dollars in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. plans |
|
Non-U.S. plans |
|
|
|
2012 |
|
2011 |
|
2012 |
|
2011 |
|
|
Accumulated benefit obligation in excess of plan assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Projected benefit obligation
|
|
$ |
958 |
|
$ |
834 |
|
$ |
1,751 |
|
$ |
1,618 |
|
|
Accumulated benefit obligation
|
|
|
925 |
|
|
789 |
|
|
1,603 |
|
|
1,500 |
|
|
Fair value of plan assets
|
|
|
636 |
|
|
538 |
|
|
1,266 |
|
|
1,251 |
|
|
| Schedule of expected future contributions and benefit payments |
Expected future contributions and benefit payments are as follows (dollars in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Plans |
|
Non-U.S. Plans |
|
|
|
Defined
Benefit
Plans |
|
Other
Postretirement
Benefit
Plans |
|
Defined
Benefit
Plans |
|
Other
Postretirement
Benefit
Plans |
|
|
2013 expected employer contributions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To plan trusts
|
|
$ |
73 |
|
$ |
11 |
|
$ |
81 |
|
$ |
1 |
|
|
Expected benefit payments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2013
|
|
|
58 |
|
|
11 |
|
|
175 |
|
|
1 |
|
|
2014
|
|
|
54 |
|
|
11 |
|
|
98 |
|
|
1 |
|
|
2015
|
|
|
53 |
|
|
11 |
|
|
103 |
|
|
1 |
|
|
2016
|
|
|
55 |
|
|
11 |
|
|
105 |
|
|
1 |
|
|
2017
|
|
|
59 |
|
|
11 |
|
|
107 |
|
|
1 |
|
|
2018 - 2022
|
|
|
325 |
|
|
49 |
|
|
578 |
|
|
2 |
|
|
| Schedule of plan assets measured at fair value on a recurring basis |
The following plan assets are measured at fair value on a recurring basis (dollars in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value Amounts Using |
|
|
Asset category
|
|
December 31,
2012 |
|
Quoted prices in
active markets for
identical assets
(Level 1) |
|
Significant
other
observable
inputs
(Level 2) |
|
Significant
unobservable
inputs
(Level 3) |
|
|
U.S. pension plans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equities
|
|
$ |
340 |
|
$ |
195 |
|
$ |
145 |
|
$ |
— |
|
|
Fixed income
|
|
|
196 |
|
|
116 |
|
|
80 |
|
|
— |
|
|
Real estate/other
|
|
|
89 |
|
|
48 |
|
|
— |
|
|
41 |
|
|
Cash
|
|
|
11 |
|
|
11 |
|
|
— |
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
Total U.S. pension plan assets
|
|
$ |
636 |
|
$ |
370 |
|
$ |
225 |
|
$ |
41 |
|
| |
|
|
|
|
|
|
|
|
|
|
Non-U.S. pension plans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equities
|
|
$ |
862 |
|
$ |
649 |
|
$ |
213 |
|
$ |
— |
|
|
Fixed income
|
|
|
905 |
|
|
632 |
|
|
273 |
|
|
— |
|
|
Real estate/other
|
|
|
357 |
|
|
27 |
|
|
303 |
|
|
27 |
|
|
Cash
|
|
|
113 |
|
|
112 |
|
|
1 |
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
Total non-U.S. pension plan assets
|
|
$ |
2,237 |
|
$ |
1,420 |
|
$ |
790 |
|
$ |
27 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value Amounts Using |
|
|
Asset category
|
|
December 31,
2011 |
|
Quoted prices in
active markets for
identical assets
(Level 1) |
|
Significant
other
observable
inputs
(Level 2) |
|
Significant
unobservable
inputs
(Level 3) |
|
|
U.S. pension plans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equities
|
|
$ |
294 |
|
$ |
166 |
|
$ |
128 |
|
$ |
— |
|
|
Fixed income
|
|
|
170 |
|
|
106 |
|
|
64 |
|
|
— |
|
|
Real estate/other
|
|
|
72 |
|
|
45 |
|
|
— |
|
|
27 |
|
|
Cash
|
|
|
2 |
|
|
2 |
|
|
— |
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
Total U.S. pension plan assets
|
|
$ |
538 |
|
$ |
319 |
|
$ |
192 |
|
$ |
27 |
|
| |
|
|
|
|
|
|
|
|
|
|
Non-U.S. pension plans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equities
|
|
$ |
771 |
|
$ |
361 |
|
$ |
410 |
|
$ |
— |
|
|
Fixed income
|
|
|
923 |
|
|
304 |
|
|
619 |
|
|
— |
|
|
Real estate/other
|
|
|
316 |
|
|
1 |
|
|
281 |
|
|
34 |
|
|
Cash
|
|
|
16 |
|
|
16 |
|
|
— |
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
Total non-U.S. pension plan assets
|
|
$ |
2,026 |
|
$ |
682 |
|
$ |
1,310 |
|
$ |
34 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Reconciliation of the beginning and ending balances of plan assets measured at fair value using unobservable inputs (level 3) |
The following table reconciles the beginning and ending balances of plan assets measured at fair value using unobservable inputs (Level 3) (dollars in millions):
|
|
|
|
|
|
|
|
|
|
Real Estate/Other |
|
|
Fair Value Measurements of Plan Assets
Using Significant Unobservable Inputs (Level 3)
|
|
Year ended
December 31,
2012 |
|
Year ended
December 31,
2011 |
|
|
Balance at beginning of period
|
|
$ |
61 |
|
$ |
52 |
|
|
Return on pension plan assets
|
|
|
4 |
|
|
(1 |
) |
|
Purchases, sales and settlements
|
|
|
10 |
|
|
10 |
|
|
Transfers in (out) of Level 3
|
|
|
(7 |
) |
|
— |
|
| |
|
|
|
|
|
|
Balance at end of period
|
|
$ |
68 |
|
$ |
61 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Income |
|
|
Fair Value Measurements of Plan Assets
Using Significant Unobservable Inputs (Level 3)
|
|
Year ended
December 31,
2012 |
|
Year ended
December 31,
2011 |
|
|
Balance at beginning of period
|
|
$ |
— |
|
$ |
1 |
|
|
Purchases, sales and settlements
|
|
|
— |
|
|
(1 |
) |
| |
|
|
|
|
|
|
Balance at end of period
|
|
$ |
— |
|
$ |
— |
|
| |
|
|
|
|
|
|
| Schedule of asset allocation for pension plans and the target allocation, by asset category |
|
|
|
|
|
|
|
|
|
|
|
|
Asset category
|
|
Target
Allocation
2013 |
|
Allocation at
December 31,
2012 |
|
Allocation at
December 31,
2011 |
|
|
U.S. pension plans:
|
|
|
|
|
|
|
|
|
|
|
|
Equities
|
|
|
54 |
% |
|
53 |
% |
|
55 |
% |
|
Fixed income
|
|
|
32 |
% |
|
31 |
% |
|
32 |
% |
|
Real estate/other
|
|
|
14 |
% |
|
14 |
% |
|
13 |
% |
|
Cash
|
|
|
— |
|
|
2 |
% |
|
— |
|
| |
|
|
|
|
|
|
|
|
Total U.S. pension plans
|
|
|
100 |
% |
|
100 |
% |
|
100 |
% |
| |
|
|
|
|
|
|
|
|
Non-U.S. pension plans:
|
|
|
|
|
|
|
|
|
|
|
|
Equities
|
|
|
40 |
% |
|
38 |
% |
|
38 |
% |
|
Fixed income
|
|
|
40 |
% |
|
41 |
% |
|
46 |
% |
|
Real estate/other
|
|
|
19 |
% |
|
20 |
% |
|
15 |
% |
|
Cash
|
|
|
1 |
% |
|
1 |
% |
|
1 |
% |
| |
|
|
|
|
|
|
|
|
Total non-U.S. pension plans
|
|
|
100 |
% |
|
100 |
% |
|
100 |
% |
| |
|
|
|
|
|
|
|
|