Fair Value Measurements on Recurring and Non-Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Derivatives-assets | $2 | | $3 | |
Derivatives-liabilities | -3 | | -8 | |
Cash equivalents | 943 | | 564 | |
Recurring Fair Value Measurements | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Derivatives-assets | 2 | [1] | 3 | [1] |
Derivatives-liabilities | -3 | [1] | -8 | [1] |
Cash equivalents | 943 | | 564 | |
Pension plan assets | 3,914 | | 4,318 | |
Recurring Fair Value Measurements | Equity Investments | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 511 | [2] | 613 | [2] |
Recurring Fair Value Measurements | Preferred Stock | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 4 | [2] | 4 | [2] |
Recurring Fair Value Measurements | Government Securities | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 914 | [3] | 1,034 | [3] |
Recurring Fair Value Measurements | Corporate Debt Investments | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 894 | [4] | 850 | [4] |
Recurring Fair Value Measurements | Derivatives | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 0 | [5] | 20 | [5] |
Recurring Fair Value Measurements | Partnerships And Joint Ventures | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 223 | [6] | 225 | [6] |
Recurring Fair Value Measurements | Real Estate | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 43 | [7] | 46 | [7] |
Recurring Fair Value Measurements | Common Collective Trust | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 1,003 | [8] | 1,270 | [8] |
Recurring Fair Value Measurements | Registered Investment Companies | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 73 | [8] | 64 | [8] |
Recurring Fair Value Measurements | 103-12 Investment Entities | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 260 | [8] | 251 | [8] |
Recurring Fair Value Measurements | Other Pension (Payables) Receivables | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | -11 | [2] | -59 | [2] |
Non-Recurring Fair Value Measurements | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Long-lived assets held for sale | 12 | [9] | ' | |
Level 1 | Recurring Fair Value Measurements | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Derivatives-assets | 0 | [1],[10] | 0 | [1],[10] |
Derivatives-liabilities | 0 | [1],[10] | 0 | [1],[10] |
Cash equivalents | 943 | [10] | 564 | [10] |
Pension plan assets | 556 | [10] | 639 | [10] |
Level 1 | Recurring Fair Value Measurements | Equity Investments | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 504 | [10],[2] | 601 | [10],[2] |
Level 1 | Recurring Fair Value Measurements | Preferred Stock | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 3 | [10],[2] | 3 | [10],[2] |
Level 1 | Recurring Fair Value Measurements | Government Securities | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 58 | [10],[3] | 89 | [10],[3] |
Level 1 | Recurring Fair Value Measurements | Corporate Debt Investments | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 0 | [10],[4] | 0 | [10],[4] |
Level 1 | Recurring Fair Value Measurements | Derivatives | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 0 | [10],[5] | 0 | [10],[5] |
Level 1 | Recurring Fair Value Measurements | Partnerships And Joint Ventures | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 0 | [10],[6] | 0 | [10],[6] |
Level 1 | Recurring Fair Value Measurements | Real Estate | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 2 | [10],[7] | 5 | [10],[7] |
Level 1 | Recurring Fair Value Measurements | Common Collective Trust | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 0 | [10],[8] | 0 | [10],[8] |
Level 1 | Recurring Fair Value Measurements | Registered Investment Companies | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 4 | [10],[8] | 2 | [10],[8] |
Level 1 | Recurring Fair Value Measurements | 103-12 Investment Entities | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 0 | [10],[8] | 0 | [10],[8] |
Level 1 | Recurring Fair Value Measurements | Other Pension (Payables) Receivables | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | -15 | [10],[2] | -61 | [10],[2] |
Level 1 | Non-Recurring Fair Value Measurements | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Long-lived assets held for sale | 0 | [10],[9] | ' | |
Level 2 | Recurring Fair Value Measurements | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Derivatives-assets | 2 | [1],[11] | 3 | [1],[11] |
Derivatives-liabilities | -3 | [1],[11] | -8 | [1],[11] |
Cash equivalents | 0 | [11] | 0 | [11] |
Pension plan assets | 3,076 | [11] | 3,393 | [11] |
Level 2 | Recurring Fair Value Measurements | Equity Investments | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 7 | [11],[2] | 12 | [11],[2] |
Level 2 | Recurring Fair Value Measurements | Preferred Stock | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 1 | [11],[2] | 1 | [11],[2] |
Level 2 | Recurring Fair Value Measurements | Government Securities | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 845 | [11],[3] | 940 | [11],[3] |
Level 2 | Recurring Fair Value Measurements | Corporate Debt Investments | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 890 | [11],[4] | 847 | [11],[4] |
Level 2 | Recurring Fair Value Measurements | Derivatives | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 0 | [11],[5] | 10 | [11],[5] |
Level 2 | Recurring Fair Value Measurements | Partnerships And Joint Ventures | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 0 | [11],[6] | 0 | [11],[6] |
Level 2 | Recurring Fair Value Measurements | Real Estate | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 0 | [11],[7] | 0 | [11],[7] |
Level 2 | Recurring Fair Value Measurements | Common Collective Trust | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 1,003 | [11],[8] | 1,270 | [11],[8] |
Level 2 | Recurring Fair Value Measurements | Registered Investment Companies | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 69 | [11],[8] | 62 | [11],[8] |
Level 2 | Recurring Fair Value Measurements | 103-12 Investment Entities | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 260 | [11],[8] | 251 | [11],[8] |
Level 2 | Recurring Fair Value Measurements | Other Pension (Payables) Receivables | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 1 | [11],[2] | 0 | [11],[2] |
Level 2 | Non-Recurring Fair Value Measurements | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Long-lived assets held for sale | 0 | [11],[9] | ' | |
Level 3 | Recurring Fair Value Measurements | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Derivatives-assets | 0 | [1],[12] | 0 | [1],[12] |
Derivatives-liabilities | 0 | [1],[12] | 0 | [1],[12] |
Cash equivalents | 0 | [12] | 0 | [12] |
Pension plan assets | 282 | [12] | 286 | [12] |
Level 3 | Recurring Fair Value Measurements | Equity Investments | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 0 | [12],[2] | 0 | [12],[2] |
Level 3 | Recurring Fair Value Measurements | Preferred Stock | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 0 | [12],[2] | 0 | [12],[2] |
Level 3 | Recurring Fair Value Measurements | Government Securities | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 11 | [12],[3] | 5 | [12],[3] |
Level 3 | Recurring Fair Value Measurements | Corporate Debt Investments | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 4 | [12],[4] | 3 | [12],[4] |
Level 3 | Recurring Fair Value Measurements | Derivatives | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 0 | [12],[5] | 10 | [12],[5] |
Level 3 | Recurring Fair Value Measurements | Partnerships And Joint Ventures | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 223 | [12],[6] | 225 | [12],[6] |
Level 3 | Recurring Fair Value Measurements | Real Estate | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 41 | [12],[7] | 41 | [12],[7] |
Level 3 | Recurring Fair Value Measurements | Common Collective Trust | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 0 | [12],[8] | 0 | [12],[8] |
Level 3 | Recurring Fair Value Measurements | Registered Investment Companies | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 0 | [12],[8] | 0 | [12],[8] |
Level 3 | Recurring Fair Value Measurements | 103-12 Investment Entities | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 0 | [12],[8] | 0 | [12],[8] |
Level 3 | Recurring Fair Value Measurements | Other Pension (Payables) Receivables | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Pension plan assets | 3 | [12],[2] | 2 | [12],[2] |
Level 3 | Non-Recurring Fair Value Measurements | ' | | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | | ' | |
Long-lived assets held for sale | $12 | [12],[9] | ' | |
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[1] | Derivative instruments consist of hedge contracts on natural gas and foreign currencies. Natural gas hedge instruments are valued using models with market inputs such as NYMEX natural gas futures contract pricings. Foreign currency forward contracts are valued using models with market inputs such as prices of instruments of a similar nature. |
[2] | Equity investments, preferred stock, and other pension (payables) receivables are valued using quoted market prices multiplied by the number of shares owned. Dealer quotes are used for less liquid markets. Valuation models with market inputs are used for securities that do not trade in transparent markets. The other pension (payables) receivables that are classified as Level 3 investments are valued using contract value, which approximates fair value, and include unobservable inputs such as illiquidity. |
[3] | Government securities include treasury and agency debt. The Level 2 investments are valued using a broker quote in an active market. The Level 3 investments include unobservable inputs that are valued using third-party pricing information without adjustments. |
[4] | The corporate debt investments category is primarily comprised of U.S. dollar denominated investment grade and non-investment grade securities. It also includes investments in non-U.S. dollar denominated corporate debt securities issued in both developed and emerging markets. Corporate debt investments are valued utilizing a market approach that includes various valuation techniques and sources such as value generation models, broker quotes in active and inactive markets, benchmark yields and securities, reported trades, issuer spreads, and/or other applicable reference data. The Level 3 investments include unobservable inputs that are valued using third-party pricing information without adjustments. |
[5] | The plan's derivative investments are forward contracts on foreign currencies, interest rate swaps, swaptions, futures on Treasury bonds, and futures on euro dollars. These investments are traded in both over-the-counter markets and on futures exchanges. The Level 2 investments are valued using models with market inputs such as dealer quoted interest rates and exchange rates. The Level 3 investments are valued based on valuation models such as Black Scholes Option Pricing Model. |
[6] | Partnerships and joint ventures are commingled investments. The plan owns interests in limited partnerships or funds rather than direct investments in the underlying asset classes such as real estate. Valuation is based on input from the general partner if no independent source is available. The valuation policies of the general partner are in compliance with accounting standards and the partnerships are audited by nationally recognized auditors. Various valuation techniques and inputs are considered in valuing private portfolio investments, including EBITDA multiples in other comparable third-party transactions, price to earnings ratios, market conditions, liquidity, current operating results, and other pertinent information. |
[7] | Real estate investments are commingled investments. The fair values of the real estate partnerships are determined based on a combination of third party appraisals, discounted present value of estimated future cash flows, replacement cost, and comparable market prices. |
[8] | Common collective trusts, registered investment companies, and 103-12 investment entities are commingled funds for which there is no exchange quoted price. These commingled funds are valued at their net asset value per share multiplied by the number of shares held. The determination of net asset value for the commingled funds includes market pricing of the underlying assets as well as broker quotes and other valuation techniques. The funds invest mainly in liquid, transparent markets such as domestic and international equities, U.S. government bonds, and corporate bonds. |
[9] | The fair value of long-lived assets is determined using a combination of a market approach based on market participant inputs and an income approach based on estimates of future cash flows. |
[10] | Quoted prices in active markets for identical assets. |
[11] | Quoted prices for similar assets and liabilities in active markets. |
[12] | Significant unobservable inputs. |