Illinois Tool Works (ITW) 10-K 12 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2015	Jan. 31, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	ILLINOIS TOOL WORKS INC
Entity Central Index Key	49,826
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		363,766,897
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 26.7

Statement of Income

Statement of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Operating Revenue	$ 13,405	$ 14,484	$ 14,135
Cost of revenue	7,888	8,673	8,554
Selling, administrative, and research and development expenses	2,417	2,678	2,815
Amortization of intangible assets	231	242	250
Impairment of goodwill and other intangible assets	2	3	2
Operating Income	2,867	2,888	2,514
Interest expense	(226)	(250)	(239)
Other income (expense)	78	61	72
Income from Continuing Operations Before Income Taxes	2,719	2,699	2,347
Income taxes	820	809	717
Income from Continuing Operations	1,899	1,890	1,630
Income from Discontinued Operations	0	1,056	49
Net Income	$ 1,899	$ 2,946	$ 1,679
Income Per Share from Continuing Operations:
Basic (in dollars per share)	$ 5.16	$ 4.70	$ 3.65
Diluted (in dollars per share)	5.13	4.67	3.63
Income Per Share from Discontinued Operations:
Basic (in dollars per share)	0	2.63	0.11
Diluted (in dollars per share)	0	2.61	0.11
Net Income Per Share:
Basic (in dollars per share)	5.16	7.33	3.76
Diluted (in dollars per share)	$ 5.13	$ 7.28	$ 3.74

Statement of Comprehensive Inco

Statement of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income	$ 1,899	$ 2,946	$ 1,679
Other Comprehensive Income (Loss):
Foreign currency translation adjustments, net of tax	(860)	(939)	(193)
Pension and other postretirement benefit adjustments, net of tax	14	(103)	284
Comprehensive Income	$ 1,053	$ 1,904	$ 1,770

Statement of Income Reinvested

Statement of Income Reinvested in the Business - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Income Reinvested in Business [Roll Forward]
Beginning Balance	$ 17,173	$ 14,943	$ 13,973
Net income	1,899	2,946	1,679
Cash dividends declared	(756)	(716)	(709)
Ending Balance	$ 18,316	$ 17,173	$ 14,943

Statement of Financial Position

Statement of Financial Position - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Current Assets:
Cash and equivalents	$ 3,090	$ 3,990
Trade receivables	2,203	2,293
Inventories	1,086	1,180
Prepaid expenses and other current assets	341	401
Total current assets	6,720	7,864
Net plant and equipment	1,577	1,686
Goodwill	4,439	4,667
Intangible assets	1,560	1,799
Deferred income taxes	346	338
Other assets	1,087	1,111
Total Assets	15,729	17,465
Current Liabilities:
Short-term debt	526	1,476
Accounts payable	449	512
Accrued expenses	1,136	1,287
Cash dividends payable	200	186
Income taxes payable	57	64
Total current liabilities	2,368	3,525
Noncurrent Liabilities:
Long-term debt	6,896	5,943
Deferred income taxes	256	171
Other liabilities	981	1,002
Total noncurrent liabilities	8,133	7,116
Stockholders’ Equity:
Common stock	6	6
Additional paid-in-capital	1,135	1,096
Income reinvested in the business	18,316	17,173
Common stock held in treasury	(12,729)	(10,798)
Accumulated other comprehensive income (loss)	(1,504)	(658)
Noncontrolling interest	4	5
Total stockholders’ equity	5,228	6,824
Total Liabilities and Stockholders' Equity	$ 15,729	$ 17,465

Statement of Financial Positio6

Statement of Financial Position Statement of Financial Position - Phantom - shares	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock issued, shares	550,035,604	550,035,604
Common stock outstanding, shares	363,710,073	383,196,213

Statement of Cash Flows

Statement of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash Provided by (Used for) Operating Activities:
Net income	$ 1,899	$ 2,946	$ 1,679
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	244	262	299
Amortization and impairment of goodwill and other intangible assets	233	245	314
Change in deferred income taxes	(11)	55	6
Provision for uncollectible accounts	7	7	3
(Income) loss from investments	(4)	(8)	(12)
(Gain) loss on sale of plant and equipment	1	2	(1)
(Gain) loss on discontinued operations	0	(1,718)	91
(Gain) loss on sale of operations and affiliates	(16)	6	5
Stock-based compensation expense	41	39	37
Gain on acquisition of controlling interest in an equity investment	0	0	(30)
Other non-cash items, net	12	11	20
(Increase) decrease in—
Trade receivables	(42)	(70)	(83)
Inventories	25	(10)	24
Prepaid expenses and other assets	24	(98)	226
Increase (decrease) in—
Accounts payable	(30)	(20)	8
Accrued expenses and other liabilities	(56)	5	161
Income taxes	(27)	33	(176)
Other, net	(1)	(71)	(43)
Net cash provided by operating activities	2,299	1,616	2,528
Cash Provided by (Used for) Investing Activities:
Acquisition of businesses (excluding cash and equivalents) and additional interest in affiliates	(6)	(45)	(369)
Additions to plant and equipment	(284)	(361)	(368)
Proceeds from investments	22	28	40
Proceeds from sale of plant and equipment	30	28	38
Net proceeds from sale of discontinued operations	0	3,191	206
Proceeds from sale of operations and affiliates	29	18	2
Other, net	(1)	(17)	(5)
Net cash provided by (used for) investing activities	(210)	2,842	(456)
Cash Provided by (Used for) Financing Activities:
Cash dividends paid	(742)	(711)	(528)
Issuance of common stock	59	148	206
Repurchases of common stock	(2,002)	(4,346)	(2,106)
Net proceeds from (repayments of) debt with original maturities of three months or less	(946)	(239)	1,267
Proceeds from debt with original maturities of more than three months	1,099	3,329	3
Repayments of debt with original maturities of more than three months	(2)	(1,751)	(6)
Excess tax benefits from stock-based compensation	20	33	24
Other, net	(12)	(14)	0
Net cash provided by (used for) financing activities	(2,526)	(3,551)	(1,140)
Effect of Exchange Rate Changes on Cash and Equivalents	(463)	(535)	(93)
Cash and Equivalents:
Increase (decrease) during the year	(900)	372	839
Beginning of year	3,990	3,618	2,779
End of year	3,090	3,990	3,618
Supplementary Cash Flow Information:
Cash Paid During the Year for Interest	200	236	240
Cash Paid During the Year for Income Taxes, Net of Refunds	775	1,502	602
Liabilities Assumed from Acquisitions	$ 1	$ 4	$ 145

Notes to Financial Statements

Notes to Financial Statements	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Notes to Financial Statements	The Notes to Financial Statements furnish additional information on items in the financial statements. The notes have been arranged in the same order as the related items appear in the statements. Illinois Tool Works Inc. (the "Company" or "ITW") is a global manufacturer of a diversified range of industrial products and equipment with approximately 84 divisions in 57 countries. The Company primarily serves the automotive OEM/tiers, automotive aftermarket, general industrial, commercial food equipment, and construction end markets. Significant accounting principles and policies of the Company are in italics. Certain reclassifications of prior year data have been made to conform to current year reporting. The preparation of the Company’s financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the notes to financial statements. Actual results could differ from those estimates. The significant estimates included in the preparation of the financial statements are related to inventories, trade receivables, plant and equipment, income taxes, goodwill and intangible assets, product liability matters, litigation, product warranties, pensions, other postretirement benefits, environmental matters and stock-based compensation.

Consolidation and Translation

Consolidation and Translation	12 Months Ended
	Dec. 31, 2015
Consolidation and Translation [Abstract]
Consolidation and Translation	Consolidation and Translation — The financial statements include the Company and its majority-owned subsidiaries. The Company follows the equity method of accounting for investments where the Company has a significant influence but not a controlling interest. Intercompany transactions are eliminated from the financial statements. Foreign subsidiaries’ assets and liabilities are translated to U.S. dollars at end-of-period exchange rates. Revenues and expenses are translated at average rates for the period. Translation adjustments are reported as a component of accumulated other comprehensive income (loss) in stockholders’ equity.

Discontinued Operations

Discontinued Operations	12 Months Ended
	Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations In April 2014, the Financial Accounting Standards Board ("FASB") issued authoritative guidance to change the criteria for reporting discontinued operations. Under the new guidance, only disposals representing a strategic shift in a company's operations and financial results should be reported as discontinued operations. In addition, disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify as a discontinued operation is required. The Company adopted this new guidance effective January 1, 2015. The new guidance applies prospectively to new disposals and new classifications of disposal groups held for sale after such date. There were no discontinued operations during 2015 under this new accounting guidance. For businesses reported as discontinued operations in the statement of income prior to adoption, all related prior period income statement information has been restated. Third Quarter 2013 Discontinued Operations -In February 2013, the Company announced that it was initiating a review process to explore strategic alternatives for its Industrial Packaging segment. In September 2013, the Company’s Board of Directors authorized a plan to commence a sale process for the Industrial Packaging segment. The Company classified the Industrial Packaging segment as held for sale beginning in the third quarter of 2013 and no longer presented this segment as part of its continuing operations. On February 6, 2014, the Company announced that it had signed a definitive agreement to sell its Industrial Packaging business to The Carlyle Group for $3.2 billion . The transaction was completed on May 1, 2014, resulting in a pre-tax gain of $ 1.7 billion ($ 1.1 billion after-tax) in the second quarter of 2014 which was included in Income from discontinued operations. In the third quarter of 2013, the Company also committed to plans for the divestiture of a construction distribution business previously included in the Construction Products segment and a specialty coatings business previously included in the Polymers & Fluids segment. These businesses were classified as held for sale beginning in the third quarter of 2013. The specialty coatings business was sold in the fourth quarter of 2013. The construction distribution business was sold in the second quarter of 2014. First Quarter 2013 Discontinued Operations -In the first quarter of 2013, the Company committed to plans for the divestiture of two transportation related businesses and a machine components business previously included in the Specialty Products segment, two construction distribution businesses previously included in the Construction Products segment, and a chemical manufacturing business previously included in the Polymers & Fluids segment. These businesses were classified as held for sale beginning in the first quarter of 2013. In the second quarter of 2013, the Company divested one of the held for sale transportation related businesses, the machine components business, and the chemical manufacturing business. In the third quarter of 2013, the Company divested the second held for sale transportation related business. In the fourth quarter of 2013, the Company divested one construction distribution business and the remaining construction distribution business was sold in the second quarter of 2014. The operating results of the businesses discussed above are reported as discontinued operations in the statement of income for all periods presented. Results of the discontinued operations for the years ended December 31, 2014 and 2013 were as follows: In millions 2014 2013 Operating revenue $ 798 $ 2,769 Income before income taxes $ 1,805 $ 186 Income tax expense (749 ) (137 ) Income from discontinued operations $ 1,056 $ 49 Included in income before income taxes from discontinued operations are net gain on disposal of $1.7 billion in 2014 and net losses on disposal of $91 million in 2013. The net gain in 2014 included a pre-tax gain of $1.7 billion ( $1.1 billion after-tax) on the sale of the Industrial Packaging business. The net losses in 2013 included a $39 million pre-tax loss related to the sale of one of the construction distribution businesses and a $20 million pre-tax loss related to the sale of one of the transportation related businesses. Also included in income before income taxes from discontinued operations in 2013 was a $42 million goodwill impairment charge recorded in connection with the anticipated sale of one of the transportation related businesses. In 2014, income tax expense from discontinued operations included $175 million of U.S. income tax expense related to the repatriation of approximately $1.3 billion of international proceeds from the sale of the Industrial Packaging business. In 2013, income tax expense from discontinued operations included $42 million of tax expense related to the legal restructuring of the Industrial Packaging business. There were no businesses classified as held for sale as of December 31, 2015 and 2014 .

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Acquisitions	Acquisitions — The Company accounts for acquisitions under the acquisition method, in which assets acquired and liabilities assumed are recorded at fair value as of the date of acquisition. The operating results of the acquired companies are included in the Company’s consolidated financial statements from the date of acquisition. Acquisitions, individually and in the aggregate, did not materially affect the Company’s results of operations or financial position for any period presented. Net cash paid for acquisitions during 2015, 2014, and 2013 was $6 million , $45 million , and $369 million , respectively. The premium over tangible net assets recorded for acquisitions based on purchase price allocations during 2015 , 2014 and 2013 was as follows: 2015 2014 2013 In millions except weighted-average lives (years) Weighted- Average Life Premium Recorded Weighted- Average Life Premium Recorded Weighted- Average Life Premium Recorded Goodwill $ 2 $ 18 $ 247 Amortizable intangible assets: Patents and proprietary technology 6.4 2 15.4 8 9.8 34 Trademarks and brands — — 12.9 3 15.5 35 Customer lists and relationships — — 11.4 12 11.2 100 Other — — — — 5.0 12 Total amortizable intangible assets 6.4 2 12.9 23 11.4 181 Indefinite-lived intangible assets: Trademarks and brands — — — Total premium recorded $ 4 $ 41 $ 428 No goodwill recorded for acquisitions during 2015 will be tax deductible. Of the total goodwill recorded for acquisitions in 2014 and 2013, the Company expects goodwill of $14 million and $25 million, respectively, will be tax deductible.

Operating Revenues

Operating Revenues	12 Months Ended
	Dec. 31, 2015
Operating Revenues [Abstract]
Operating Revenues	Operating Revenue is recognized when persuasive evidence of an arrangement exists, product has shipped and the risks and rewards of ownership have transferred or services have been rendered, the price to the customer is fixed or determinable, and collectibility is reasonably assured, which is generally at the time of product shipment. Typical sales arrangements are for standard products and provide for transfer of ownership and risk of loss at the time of shipment. In limited circumstances where significant obligations to the customer are unfulfilled at the time of shipment, typically involving installation and customer acceptance, revenue recognition is deferred until such obligations have been completed. Customer allowances and rebates, consisting primarily of volume discounts and other short-term incentive programs, are estimated at the time of sale based on historical experience and known trends and are recorded as a reduction in reported revenues. In May 2014, the FASB issued authoritative guidance to change the criteria for revenue recognition. The core principle of the new standard is that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, several new revenue recognition disclosures will be required. This guidance is effective for the Company beginning January 1, 2018. The Company is currently assessing the potential impact the guidance will have upon adoption.

Research and Development Expens

Research and Development Expenses	12 Months Ended
	Dec. 31, 2015
Research and Development [Abstract]
Research and Development Expenses	Research and Development Expenses are recorded as expense in the year incurred. These costs were $218 million in 2015 , $ 227 million in 2014 and $240 million in 2013 .

Rental Expense

Rental Expense	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Rental Expense	Rental Expense was $117 million in 2015 , $130 million in 2014 and $138 million in 2013 . Future minimum lease payments under non-cancelable leases for the years ending December 31 are as follows: In millions 2016 $ 98 2017 69 2018 47 2019 31 2020 23 2021 and future years 29 $ 297

Advertising Expenses

Advertising Expenses	12 Months Ended
	Dec. 31, 2015
Advertising Expenses [Abstract]
Advertising Expenses	Advertising Expenses are recorded as expense in the year incurred. These costs were $58 million in 2015 , $66 million in 2014 and $67 million in 2013 .

Other Income (Expense)

Other Income (Expense)	12 Months Ended
	Dec. 31, 2015
Other Income and Expenses [Abstract]
Other Income (Expense)	Other Income (Expense) consisted of the following: In millions 2015 2014 2013 Interest income $ 52 $ 65 $ 50 Gain (loss) on disposal of operations and affiliates 16 (6 ) (5 ) Gain (loss) on foreign currency transactions, net 5 8 (5 ) Income from investments 4 8 12 Gain on acquisition of controlling interest in an equity investment — — 30 Equity income (loss) in Wilsonart (4 ) (9 ) (14 ) Other, net 5 (5 ) 4 $ 78 $ 61 $ 72 On January 31, 2013, the Company acquired the controlling interest of an existing consumer packaging business in the Specialty Products segment previously accounted for under the equity method. The Company recorded a pre-tax gain of $ 30 million in Other income (expense) in the first quarter of 2013 as a result of remeasuring the Company's existing equity interest to fair value by determining the implied equity value using a Level 3 valuation method. Equity income (loss) in Wilsonart is related to the Company's 49% ownership interest in Wilsonart International Holdings LLC accounted for under the equity method of accounting. Refer to the Other Assets note for further information regarding this investment.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes — The Company utilizes the asset and liability method of accounting for income taxes. Deferred income taxes are determined based on the estimated future tax effects of differences between the financial and tax bases of assets and liabilities given the provisions of the enacted tax laws. The components of the provision for income taxes were as shown below: In millions 2015 2014 2013 U.S. federal income taxes: Current $ 503 $ 413 $ 410 Deferred 8 121 84 511 534 494 Foreign income taxes: Current 310 163 153 Deferred (11 ) 66 35 Benefit of net operating loss carryforwards (48 ) (13 ) (13 ) 251 216 175 State income taxes: Current 66 50 64 Deferred (8 ) 9 (16 ) 58 59 48 $ 820 $ 809 $ 717 Income from continuing operations before income taxes for domestic and foreign operations was as follows: In millions 2015 2014 2013 Domestic $ 1,660 $ 1,669 $ 1,444 Foreign 1,059 1,030 903 $ 2,719 $ 2,699 $ 2,347 The reconciliation between the U.S. federal statutory tax rate and the effective tax rate was as follows: 2015 2014 2013 U.S. federal statutory tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of U.S. federal tax benefit 1.4 1.6 1.8 Differences between U.S. federal statutory and foreign tax rates (3.1 ) (3.5 ) (3.4 ) Nontaxable foreign interest income (3.3 ) (3.6 ) (3.5 ) Tax effect of foreign dividends 2.8 2.1 2.4 Tax relief for U.S. manufacturers (1.6 ) (1.5 ) (1.3 ) Other, net (1.1 ) (0.1 ) (0.4 ) Effective tax rate 30.1 % 30.0 % 30.6 % Deferred U.S. federal income taxes and foreign withholding taxes have not been provided on the remaining undistributed earnings of certain international subsidiaries as these earnings are considered permanently invested. Undistributed earnings of these subsidiaries were approximately $8.7 billion and $7.1 billion as of December 31, 2015 and 2014 , respectively. Upon repatriation of these earnings to the U.S. in the form of dividends or other distribution of earnings, the Company may be subject to U.S. income taxes and foreign withholding taxes. The actual U.S. tax cost would depend on income tax laws and circumstances at the time of distribution. Determination of the related tax liability is not practicable because of the complexities associated with the hypothetical calculation. In November 2015, the FASB issued authoritative guidance to simplify the presentation of deferred taxes. Under the new guidance, all deferred tax assets and liabilities are presented as noncurrent in the statement of financial position. The Company early adopted this guidance in the fourth quarter of 2015 and applied it retrospectively to all periods presented. Due to the restatement of current deferred tax assets and liabilities to noncurrent, adoption of this guidance resulted in an increase of noncurrent deferred tax assets of $ 37 million and a decrease of noncurrent deferred tax liabilities of $ 167 million as of December 31, 2014. The components of deferred income tax assets and liabilities at December 31, 2015 and 2014 were as follows: 2015 2014 In millions Asset Liability Asset Liability Goodwill and intangible assets $ 282 $ (734 ) $ 277 $ (758 ) Inventory reserves, capitalized tax cost and LIFO inventory 42 (5 ) 48 (1 ) Investments 25 (298 ) 31 (273 ) Plant and equipment 28 (84 ) 26 (85 ) Accrued expenses and reserves 79 — 73 — Employee benefit accruals 314 — 324 — Foreign tax credit carryforwards 216 — 195 — Net operating loss carryforwards 643 — 670 — Capital loss carryforwards 39 — 80 — Allowances for uncollectible accounts 13 — 11 — Pension liabilities 13 — 11 — Deferred intercompany deductions — — 14 — Unrealized loss (gain) on foreign debt instruments — (115 ) — (59 ) Other 109 (10 ) 123 (10 ) Gross deferred income tax assets (liabilities) 1,803 (1,246 ) 1,883 (1,186 ) Valuation allowances (467 ) — (530 ) — Total deferred income tax assets (liabilities) $ 1,336 $ (1,246 ) $ 1,353 $ (1,186 ) Valuation allowances are established when it is estimated that it is more likely than not that the tax benefit of the deferred tax asset will not be realized. The valuation allowances recorded at December 31, 2015 and 2014 related primarily to certain net operating loss carryforwards and capital loss carryforwards. At December 31, 2015 , the Company had net operating loss carryforwards available to offset future taxable income in the U.S. and certain foreign jurisdictions, which expire as follows: Gross Carryforwards Related In millions to Net Operating Losses 2016 $ 1 2017 11 2018 8 2019 10 2020 80 2021 75 2022 21 2023-2035 52 Do not expire 2,104 $ 2,362 The Company has foreign tax credit carryforwards of $216 million as of December 31, 2015 that are available for use by the Company between 2016 and 2025. The changes in the amount of unrecognized tax benefits during 2015 , 2014 and 2013 were as follows: In millions 2015 2014 2013 Beginning balance $ 218 $ 268 $ 249 Additions based on tax positions related to the current year 39 23 26 Additions for tax positions of prior years 54 12 40 Reductions for tax positions of prior years (41 ) (59 ) (21 ) Settlements (6 ) (18 ) (27 ) Foreign currency translation (5 ) (8 ) 1 Ending balance $ 259 $ 218 $ 268 Included in the balance at December 31, 2015 were approximately $227 million of unrecognized tax benefits that, if recognized, would impact the Company’s effective tax rate. During the third quarter of 2013, the Company recorded a discrete tax charge of $40 million related to the tax treatment of intercompany financing transactions that impact the taxability of foreign earnings. The Company and its subsidiaries file tax returns in the U.S. and various state, local and foreign jurisdictions. These tax returns are routinely audited by the tax authorities in these jurisdictions including the Internal Revenue Service, Her Majesty's Revenue and Customs, German Fiscal Authority, French Fiscal Authority, and Australian Tax Office, and a number of these audits are currently ongoing, which may increase the amount of the unrecognized tax benefits in future periods. Due to the ongoing audits, the Company believes it is reasonably possible that within the next twelve months the amount of the Company's unrecognized tax benefits may be decreased by approximately $113 million related predominantly to various intercompany transactions. The Company has recorded its best estimate of the potential exposure for these issues. The following table summarizes the open tax years for the Company’s major jurisdictions: Jurisdiction Open Tax Years United States – Federal 2012-2015 United Kingdom 2012-2015 Germany 2009-2015 France 2013-2015 Australia 2011-2015 The Company recognizes interest and penalties related to income tax matters in income tax expense. The accrual for interest and penalties as of December 31, 2015 and 2014 was $32 million and $30 million, respectively. On February 18, 2014, the Company received a Notice of Deficiency ("NOD") from the IRS asserting that a non-taxable return of capital received from a subsidiary was a taxable dividend distribution. The NOD assesses additional taxes of $70 million for the 2006 tax year, plus interest and penalties. In May 2014, the Company petitioned the United States Tax Court to challenge the NOD. The Company's petition was subsequently denied and the case will proceed to court with trial set for the third quarter of 2016. Although the outcome of this process cannot be predicted with certainty, the Company believes it will be successful in defending its positions. Accordingly, no reserve has been recorded related to this matter.

Income Per Share from Continuin

Income Per Share from Continuing Operations	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Income Per Share from Continuing Operations	Income Per Share from Continuing Operations is computed by dividing income from continuing operations by the weighted-average number of shares outstanding for the period. Income from continuing operations per diluted share is computed by dividing income from continuing operations by the weighted-average number of shares assuming dilution for stock options and restricted stock units. Dilutive shares reflect the potential additional shares that would be outstanding if the dilutive stock options outstanding were exercised and the unvested restricted stock units vested during the period. The computation of income per share from continuing operations was as follows: In millions except per share amounts 2015 2014 2013 Income from continuing operations $ 1,899 $ 1,890 $ 1,630 Income per share from continuing operations—Basic: Weighted-average common shares 367.9 401.7 446.2 Income per share from continuing operations—Basic $ 5.16 $ 4.70 $ 3.65 Income per share from continuing operations—Diluted: Weighted-average common shares 367.9 401.7 446.2 Effect of dilutive stock options and restricted stock units 2.2 2.9 3.1 Weighted-average common shares assuming dilution 370.1 404.6 449.3 Income per share from continuing operations—Diluted $ 5.13 $ 4.67 $ 3.63 Options that were considered antidilutive were not included in the computation of diluted income per share from continuing operations. There were 0.6 million antidilutive options outstanding as of December 31, 2015 . There were no antidilutive options outstanding as of December 31, 2014 and 0.1 million antidilutive options outstanding as of December 31, 2013 .

Cash and Equivalents

Cash and Equivalents	12 Months Ended
	Dec. 31, 2015
Cash and Cash Equivalents [Abstract]
Cash and Equivalents	Cash and Equivalents include cash on hand and instruments having original maturities of three months or less. Cash and equivalents are stated at cost, which approximates fair value.

Trade Receivables

Trade Receivables	12 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
Trade Receivables	Trade Receivables are net of allowances for uncollectible accounts, including reserves for customer credits and cash discounts . The changes in the allowances for uncollectible accounts during 2015 , 2014 and 2013 were as follows: In millions 2015 2014 2013 Beginning balance $ (43 ) $ (46 ) $ (65 ) Provision charged to expense (7 ) (7 ) (3 ) Write-offs, net of recoveries 5 7 14 Acquisitions and divestitures — — (1 ) Foreign currency translation 3 3 1 Transfer to assets held for sale — — 8 Ending balance $ (42 ) $ (43 ) $ (46 )

Inventories

Inventories	12 Months Ended
	Dec. 31, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories at December 31, 2015 and 2014 were as follows: In millions 2015 2014 Raw material $ 415 $ 458 Work-in-process 130 133 Finished goods 622 677 LIFO reserve (81 ) (88 ) $ 1,086 $ 1,180 Inventories are stated at the lower of cost or net realizable value and include material, labor and factory overhead. The last-in, first-out ("LIFO") method is used to determine the cost of the inventories at certain U.S. businesses. The first-in, first-out ("FIFO") method, which approximates current cost, is used for all other inventories. Inventories priced at LIFO were approximately 22% of total inventories as of both December 31, 2015 and 2014 . If the FIFO method was used for all inventories, total inventories would have been approximately $ 81 million and $ 88 million higher than reported at December 31, 2015 and 2014, respectively.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	12 Months Ended
	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets as of December 31, 2015 and 2014 were as follows: In millions 2015 2014 Income tax refunds receivable $ 147 $ 129 Value-added-tax receivables 48 50 Vendor advances 22 30 Other 124 192 $ 341 $ 401

Plant and Equipment

Plant and Equipment	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Net Plant and Equipment	Net Plant and Equipment are stated at cost, less accumulated depreciation. Renewals and improvements that increase the useful life of plant and equipment are capitalized. Maintenance and repairs are charged to expense as incurred. Depreciation of plant and equipment is primarily computed on an accelerated basis for U.S. businesses and on a straight-line basis for a majority of the international businesses. Depreciation was $244 million in 2015 , $262 million in 2014 and $270 million in 2013 . There was no depreciation included in Income from discontinued operations in 2015 and 2014 . Depreciation included in Income from discontinued operations in 2013 was $29 million . Net plant and equipment consisted of the following at December 31, 2015 and 2014 : In millions 2015 2014 Land $ 179 $ 177 Buildings and improvements 1,272 1,200 Machinery and equipment 2,972 3,034 Equipment leased to others 156 158 Construction in progress 76 230 Gross plant and equipment 4,655 4,799 Accumulated depreciation (3,078 ) (3,113 ) Net plant and equipment $ 1,577 $ 1,686 The ranges of useful lives used to depreciate plant and equipment are as follows: Buildings and improvements 5—50 years Machinery and equipment 3—12 years Equipment leased to others Term of lease

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets —Goodwill represents the excess cost over fair value of the net assets of purchased businesses. The Company does not amortize goodwill and intangible assets that have indefinite lives. The Company performs an impairment assessment of goodwill and intangible assets with indefinite lives annually, or more frequently if triggering events occur, based on the estimated fair value of the related reporting unit or intangible asset. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. When performing its annual impairment assessment, the Company evaluates the goodwill assigned to each of its reporting units for potential impairment by comparing the estimated fair value of the relevant reporting unit to the carrying value. The Company uses various Level 2 and Level 3 valuation techniques to determine the fair value of its reporting units, including discounting estimated future cash flows based on a detailed cash flow forecast prepared by the relevant reporting unit and market multiples of relevant public companies. If the fair value of a reporting unit is less than its carrying value, an impairment loss, if any, is recorded for the difference between the implied fair value and the carrying value of the reporting unit's goodwill. The Company's indefinite-lived intangible assets consist of trademarks and brands. The estimated fair values of these intangible assets are determined based on a Level 3 valuation method using a relief-of-royalty income approach derived from internally forecasted revenues of the related products. If the fair value of the trademark or brand is less than its carrying value, an impairment loss is recorded for the difference between the estimated fair value and carrying value of the intangible asset. Amortization and impairment of goodwill and other intangible assets for the years ended December 31, 2015 , 2014 and 2013 were as follows: In millions 2015 2014 2013 Goodwill: Impairment $ — $ — $ — Intangible Assets: Amortization 231 242 250 Impairment 2 3 2 $ 233 $ 245 $ 252 Income from discontinued operations included intangible asset amortization of $20 million in 2013 . The Company performed its annual impairment assessment of goodwill and indefinite-lived intangible assets in the third quarter of 2015 , 2014 and 2013 . In the third quarter of 2015 , these assessments resulted in no goodwill impairment charges and an indefinite-lived intangible asset charge of $2 million related to a brand in the Polymers & Fluids segment. In the third quarter of 2014 , these assessments resulted in no goodwill impairment charges and indefinite-lived intangible asset charges of $3 million related to certain brands in the Polymers & Fluids and Test & Measurement and Electronics segments. In 2013 , these assessments resulted in no goodwill impairment charges and an indefinite-lived intangible asset impairment charge of $2 million related to a brand in the Test & Measurement and Electronics segment. A summary of indefinite-lived intangible assets that were adjusted to fair value and the related impairment charges for the years ended December 31, 2015 , 2014 , and 2013 is as follows: 2015 2014 2013 In millions Carrying Value Fair Value Total Impairment Charges Carrying Value Fair Value Total Impairment Charges Carrying Value Fair Value Total Impairment Charges Indefinite-lived intangible assets $ 26 $ 24 $ 2 $ 11 $ 8 $ 3 $ 42 $ 40 $ 2 The changes in the carrying amount of goodwill for the years ended December 31, 2015 and 2014 were as follows: In millions Automotive OEM Test & Measurement and Electronics Food Equipment Polymers & Fluids Welding Construction Products Specialty Products Total Balance, December 31, 2013 $ 320 $ 1,426 $ 294 $ 1,021 $ 294 $ 561 $ 970 $ 4,886 2014 activity: Acquisitions & divestitures (3 ) — — 3 — 8 — 8 Impairment charges — — — — — — — — Foreign currency translation (23 ) (36 ) (18 ) (60 ) (17 ) (27 ) (46 ) (227 ) Balance, December 31, 2014 294 1,390 276 964 277 542 924 4,667 2015 activity: Acquisitions & divestitures — — — (6 ) 1 — — (5 ) Impairment charges — — — — — — — — Foreign currency translation (17 ) (35 ) (17 ) (64 ) (17 ) (26 ) (47 ) (223 ) Balance, December 31, 2015 $ 277 $ 1,355 $ 259 $ 894 $ 261 $ 516 $ 877 $ 4,439 Cumulative goodwill impairment charges, December 31, 2015 $ 24 $ 83 $ 60 $ 15 $ 5 $ 7 $ 46 $ 240 Income from discontinued operations included a goodwill impairment of $42 million in 2013. Intangible assets as of December 31, 2015 and 2014 were as follows: 2015 2014 In millions Cost Accumulated Amortization Net Cost Accumulated Amortization Net Amortizable intangible assets: Customer lists and relationships $ 1,630 $ (943 ) $ 687 $ 1,638 $ (820 ) $ 818 Trademarks and brands 724 (298 ) 426 707 (249 ) 458 Patents and proprietary technology 618 (397 ) 221 622 (354 ) 268 Other 475 (446 ) 29 471 (430 ) 41 Total amortizable intangible assets 3,447 (2,084 ) 1,363 3,438 (1,853 ) 1,585 Indefinite-lived intangible assets: Trademarks and brands 197 — 197 214 — 214 Total intangible assets $ 3,644 $ (2,084 ) $ 1,560 $ 3,652 $ (1,853 ) $ 1,799 Amortizable intangible assets are being amortized on a straight-line basis over their estimated useful lives of 3 to 20 years. The estimated amortization expense of intangible assets for the future years ending December 31 is as follows: In millions 2016 $ 217 2017 196 2018 175 2019 153 2020 134

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets - In April 2015, the FASB issued authoritative guidance to simplify the balance sheet presentation of long-term debt issuance costs. Under the new guidance, long-term debt issuance costs are presented as a reduction of the carrying amount of the related long-term debt. The Company early adopted this guidance in the fourth quarter of 2015 and applied it retrospectively to all periods presented. As of December 31, 2014 , the Company restated $38 million of deferred debt issuance costs from Other assets to Long-term debt. Other assets as of December 31, 2015 and 2014 consisted of the following: In millions 2015 2014 Cash surrender value of life insurance policies $ 428 $ 418 Prepaid pension assets 191 165 Equity investment in Wilsonart 113 141 Investments 99 110 Customer tooling 88 96 Other 168 181 $ 1,087 $ 1,111 In the fourth quarter of 2012, the Company divested a 51% majority interest in its former Decorative Surfaces segment to certain funds managed by Clayton, Dubilier & Rice, LLC ("CD&R"). As a result of the transaction, the Company owns common units (the "Common Units") of Wilsonart International Holdings LLC ("Wilsonart") initially representing approximately 49% (on an as-converted basis) of the total outstanding equity. CD&R owns cumulative convertible participating preferred units (the "Preferred Units") of Wilsonart representing approximately 51% (on an as-converted basis) of the total outstanding equity. The Preferred Units rank senior to the Common Units as to dividends and liquidation preference, and accrue dividends at a rate of 10% per annum. Due to the Company's continuing involvement through its 49% ownership interest in Wilsonart, the former Decorative Surfaces segment was not presented as discontinued operations. The ownership interest in Wilsonart is reported using the equity method of accounting. The Company's proportionate share in income (loss) of Wilsonart is reported in Other income (expense) in the consolidated statement of income. As the Company's investment in Wilsonart is structured as a partnership for U.S. tax purposes, U.S. taxes are recorded separately from the equity investment.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses as of December 31, 2015 and 2014 consisted of the following accruals: In millions 2015 2014 Compensation and employee benefits $ 363 $ 441 Deferred revenue and customer deposits 169 194 Rebates 125 128 Warranties 46 49 Current portion of pension and other postretirement benefit obligations 15 14 Other 418 461 $ 1,136 $ 1,287 The Company accrues for product warranties based on historical experience. The changes in accrued warranties during 2015 , 2014 and 2013 were as follows: In millions 2015 2014 2013 Beginning balance $ 49 $ 50 $ 51 Charges (37 ) (41 ) (44 ) Provision charged to expense 36 43 43 Acquisitions and divestitures — — 2 Foreign currency translation (2 ) (3 ) 1 Transfer to liabilities held for sale — — (3 ) Ending balance $ 46 $ 49 $ 50

Debt

Debt	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt Disclosure	Debt Short-term debt represents obligations with a maturity date of one year or less and is stated at cost which approximates fair value. Short-term debt also includes current maturities of long-term debt. Short-term debt as of December 31, 2015 and 2014 consisted of the following: In millions 2015 2014 Commercial paper $ 498 $ 1,413 Bank overdrafts 25 62 Current maturities of long-term debt 1 1 Other borrowings 2 — $ 526 $ 1,476 The Company may issue commercial paper to fund general corporate needs, share repurchases, and small and medium-sized acquisitions. The Company has committed lines of credit of $2.5 billion in the U.S. to support the potential issuances of commercial paper. Of this amount, $1.0 billion is provided under a line of credit agreement with a termination date of August 15, 2018 and $1.5 billion is provided under a line of credit agreement with a termination date of June 8, 2017. No amounts were outstanding under these two facilities at December 31, 2015 . As of December 31, 2015 , the Company was in compliance with the financial covenants of these line of credit agreements, which include a minimum interest coverage ratio. The weighted-average interest rate on commercial paper was 0.1% at both December 31, 2015 and 2014 . As of December 31, 2015 , the Company had unused capacity of approximately $ 296 million under international debt facilities. Long-term debt represents obligations with a maturity date greater than one year, and excludes current maturities that have been reclassified to short-term debt. In April 2015, the FASB issued authoritative guidance to simplify the balance sheet presentation of long-term debt issuance costs. Under the new guidance, long-term debt issuance costs are presented as a reduction of the carrying amount of the related long-term debt. The Company early adopted this guidance in the fourth quarter of 2015 and applied it retrospectively to all periods presented. As of December 31, 2014 , the Company restated $38 million of deferred long-term debt issuance costs from Other assets to Long-term debt. Long-term debt at carrying value and fair value as of December 31, 2015 and 2014 consisted of the following: 2015 2014 In millions Effective Interest Rate Carrying Value Fair Value Carrying Value Fair Value 0.90% notes due February 25, 2017 0.95% $ 649 $ 649 $ 648 $ 648 1.95% notes due March 1, 2019 1.98% 647 655 647 651 6.25% notes due April 1, 2019 6.25% 698 790 697 817 4.88% notes due thru December 31, 2020 4.96% 4 4 5 6 3.375% notes due September 15, 2021 3.43% 347 362 347 369 1.75% Euro notes due May 20, 2022 1.86% 536 564 597 640 1.25% Euro notes due May 22, 2023 1.35% 536 538 — — 3.50% notes due March 1, 2024 3.54% 695 727 694 735 2.125% Euro notes due May 22, 2030 2.18% 536 530 — — 3.0% Euro notes due May 19, 2034 3.13% 528 569 588 702 4.875% notes due September 15, 2041 4.97% 635 708 635 746 3.9% notes due September 1, 2042 3.96% 1,080 1,051 1,079 1,110 Other borrowings 6 6 7 7 $ 6,897 $ 7,153 $ 5,944 $ 6,431 Current maturities (1 ) (1 ) $ 6,896 $ 5,943 The approximate fair values of the Company’s long-term debt, including current maturities, were based on a Level 2 valuation model, using observable inputs, which included market rates for comparable instruments as of December 31, 2015 and 2014 . All of the Company's notes listed above represent senior unsecured obligations ranking equal in right of payment. In 2005, the Company issued $54 million of 4.88% notes due through December 31, 2020 at 100% of face value. In 2007, the Company, through a wholly-owned European subsidiary, issued €750 million of 5.25% Euro notes due October 1, 2014 at 99.874% of face value. The €750 million of 5.25% Euro notes due October 1, 2014 were repaid on the due date. In 2009, the Company issued $800 million of 5.15% redeemable notes due April 1, 2014 at 99.92% of face value and $700 million of 6.25% redeemable notes due April 1, 2019 at 99.98% of face value. The $800 million of 5.15% redeemable notes due April 1, 2014 were repaid on the due date. In 2011, the Company issued $350 million of 3.375% notes due September 15, 2021 at 99.552% of face value and $650 million of 4.875% notes due September 15, 2041 at 98.539% of face value. In 2012, the Company issued $1.1 billion of 3.9% notes due September 1, 2042 at 99.038% of face value. In February 2014, the Company issued $ 650 million of 0.9% notes due February 25, 2017 at 99.861% of face value, $ 650 million of 1.95% notes due March 1, 2019 at 99.871% of face value, and $ 700 million of 3.5% notes due March 1, 2024 at 99.648% of face value. Net proceeds from the February 2014 debt issuances were used to repay commercial paper. In May 2014, the Company issued € 500 million of 1.75% Euro notes due May 20, 2022 at 99.16% of face value and € 500 million of 3.0% Euro notes due May 19, 2034 at 98.089% of face value. Net proceeds from the May 2014 debt issuances were used for general corporate purposes. In May 2015, the Company issued €500 million of 1.25% Euro notes due May 22, 2023 at 99.239% of face value and €500 million of 2.125% Euro notes due May 22, 2030 at 99.303% of face value. Net proceeds from the May 2015 debt issuances were used to repay commercial paper and for general corporate purposes. The Company designated the € 1.0 billion of Euro notes issued in May 2015 and the € 1.0 billion of Euro notes issued in May 2014 as hedges of a portion of its net investment in Euro-denominated foreign operations to reduce foreign currency risk associated with the investment in these operations. Refer to the Accumulated Other Comprehensive Income (Loss) note for additional information regarding the net investment hedge. Scheduled maturities of long-term debt, including current maturities of long-term debt, for the future years ending December 31 are as follows: In millions 2016 $ 1 2017 649 2018 — 2019 1,346 2020 4 2021 and future years 4,897 $ 6,897

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits	Pension and Other Postretirement Benefits —The Company has both funded and unfunded defined benefit pension and other postretirement benefit plans, predominately in the U.S. The U.S. primary pension plan provides benefits based on years of service and final average salary. The U.S. primary postretirement health care plan is contributory with the participants’ contributions adjusted annually. The U.S. primary postretirement life insurance plan is noncontributory. Beginning January 1, 2007, the U.S. primary pension and other postretirement benefit plans were closed to new participants. Newly hired employees and employees from acquired businesses that are not participating in these plans are eligible for additional Company contributions under the existing U.S. primary defined contribution retirement plans. The Company’s expense related to defined contribution plans was $77 million in 2015 , $78 million in 2014 , and $ 72 million in 2013 . In addition to the U.S. plans, the Company also has defined benefit pension plans in certain other countries, mainly the United Kingdom, Germany, Canada and Switzerland. Summarized information regarding the Company’s significant defined benefit pension and other postretirement benefit plans related to both continuing and discontinued operations is as follows: Pension Other Postretirement Benefits In millions 2015 2014 2013 2015 2014 2013 Components of net periodic benefit cost: Service cost $ 70 $ 80 $ 87 $ 11 $ 10 $ 12 Interest cost 92 103 100 24 24 24 Expected return on plan assets (151 ) (159 ) (157 ) (25 ) (25 ) (22 ) Amortization of actuarial (gain) loss 60 48 65 (1 ) (4 ) 1 Amortization of prior service cost 1 1 — 1 1 1 Settlement/curtailment (gain) loss — 1 49 — (9 ) — $ 72 $ 74 $ 144 $ 10 $ (3 ) $ 16 Net periodic benefit cost was included in the statement of income as follows: Pension Other Postretirement Benefits In millions 2015 2014 2013 2015 2014 2013 Income from continuing operations $ 72 $ 69 $ 131 $ 10 $ 6 $ 14 Income from discontinued operations — 5 13 — (9 ) 2 $ 72 $ 74 $ 144 $ 10 $ (3 ) $ 16 The pension settlement charges in 2013 included $45 million tied primarily to higher lump sum pension payments resulting from the exit of Decorative Surfaces employees from the Company's U.S. primary pension plan. These charges were included in Income from continuing operations. Refer to the Other Assets note for further details regarding the Decorative Surfaces transaction. In addition, the Company recognized a $9 million curtailment gain on the U.S. primary postretirement plan in the second quarter of 2014 and a $2 million curtailment charge on the U.S. primary pension plan in the third quarter of 2013 related to the Company's sale of the Industrial Packaging business and the reclassification of the Industrial Packaging business to discontinued operations, respectively. These curtailments were included in Income from discontinued operations. During 2014, the Society of Actuaries released a new mortality table, referred to as RP-2014, which is believed to better reflect mortality improvements. The Company used the RP-2014 mortality table to measure its U.S. pension and other postretirement obligations as of December 31, 2014 which resulted in additional actuarial losses of $ 76 million for pension and $ 46 million for other postretirement benefits. In 2015, the Company used the updated MP-2015 mortality improvement scale to measure its U.S. pension and other postretirement obligations as of December 31, 2015, which did not have a significant impact. The following tables provide a rollforward of the plan benefit obligations, plan assets and a reconciliation of funded status for the years ended December 31, 2015 and 2014 for continuing and discontinued operations: Pension Other Postretirement Benefits In millions 2015 2014 2015 2014 Change in benefit obligation: Benefit obligation at January 1 $ 2,607 $ 2,545 $ 591 $ 519 Service cost 70 80 11 10 Interest cost 92 103 24 24 Plan participants’ contributions 3 3 13 13 Amendments 1 (5 ) — — Actuarial (gain) loss (82 ) 240 (43 ) 97 Acquisitions and divestitures — (97 ) — (18 ) Benefits paid (169 ) (192 ) (46 ) (46 ) Medicare subsidy received — — 2 2 Settlement/curtailment (gain) loss — (2 ) — (10 ) Foreign currency translation (60 ) (68 ) — — Benefit obligation at December 31 $ 2,462 $ 2,607 $ 552 $ 591 Pension Other Postretirement Benefits In millions 2015 2014 2015 2014 Change in plan assets: Fair value of plan assets at January 1 $ 2,557 $ 2,487 $ 372 $ 370 Actual return on plan assets 16 264 (3 ) 28 Company contributions 97 127 6 7 Plan participants’ contributions 3 3 13 13 Acquisitions/divestitures — (65 ) — — Benefits paid (169 ) (192 ) (46 ) (46 ) Foreign currency translation (63 ) (67 ) — — Fair value of plan assets at December 31 $ 2,441 $ 2,557 $ 342 $ 372 Funded status $ (21 ) $ (50 ) $ (210 ) $ (219 ) Other immaterial plans (50 ) (52 ) (5 ) (5 ) Net liability at December 31 $ (71 ) $ (102 ) $ (215 ) $ (224 ) The amounts recognized in the statement of financial position as of December 31 consist of: Other assets $ 191 $ 165 $ — $ — Accrued expenses (11 ) (10 ) (4 ) (4 ) Other noncurrent liabilities (251 ) (257 ) (211 ) (220 ) Net liability at end of year $ (71 ) $ (102 ) $ (215 ) $ (224 ) The pre-tax amounts recognized in accumulated other comprehensive income consist of: Net actuarial (gain) loss $ 631 $ 638 $ (20 ) $ (6 ) Prior service cost — 1 (1 ) (1 ) $ 631 $ 639 $ (21 ) $ (7 ) Accumulated benefit obligation $ 2,297 $ 2,361 Plans with accumulated benefit obligation in excess of plan assets as of December 31: Projected benefit obligation $ 164 $ 168 Accumulated benefit obligation $ 152 $ 154 Fair value of plan assets $ 25 $ 26 Assumptions The weighted-average assumptions used in the valuations of pension and other postretirement benefits were as follows: Pension Other Postretirement Benefits 2015 2014 2013 2015 2014 2013 Assumptions used to determine benefit obligations at December 31: Discount rate 3.95 % 3.70 % 4.32 % 4.55 % 4.15 % 4.95 % Rate of compensation increases 3.72 % 3.72 % 3.72 % — % — % — % Assumptions used to determine net periodic benefit cost for years ended December 31: Discount rate 3.70 % 4.32 % 3.85 % 4.15 % 4.95 % 4.15 % Expected return on plan assets 6.54 % 7.02 % 7.28 % 7.00 % 7.00 % 7.00 % Rate of compensation increases 3.72 % 3.72 % 3.86 % — % — % — % The expected long-term rates of return for pension and other postretirement benefit plans were developed using historical asset class returns while factoring in current market conditions such as inflation, interest rates and asset class performance. Assumed health care cost trend rates have an effect on the amounts reported for the postretirement health care benefit plans. The assumed health care cost trend rates used to determine the postretirement benefit obligation at December 31 were as follows: 2015 2014 2013 Health care cost trend rate assumed for the next year 6.00 % 8.00 % 8.00 % Ultimate trend rate 4.50 % 4.50 % 5.00 % Year the rate reaches the ultimate trend rate 2021 2022 2020 A one percentage-point change in assumed health care cost trend rates would have the following impact: In millions 1 Percentage-Point Increase 1 Percentage-Point Decrease Change in service cost and interest cost for 2015 $ — $ (1 ) Change in postretirement benefit obligation at December 31, 2015 $ 7 $ (14 ) Plan Assets The Company’s overall investment strategy for the assets in the pension funds is to achieve a balance between the goals of growing plan assets and keeping risk at a reasonable level over a long-term investment horizon. In order to reduce unnecessary risk, the pension funds are diversified across several asset classes, securities and investment managers. The target allocations for plan assets are 30% to 50% equity securities, 45% to 60% fixed income securities and 0% to 10% in other types of investments. The Company does not use derivatives for the purpose of speculation, leverage, circumventing investment guidelines or taking risks that are inconsistent with specified guidelines. The assets in the Company’s postretirement health care plan are primarily invested in life insurance policies. The Company’s overall investment strategy for the assets in the postretirement health care fund is to invest in assets that provide a reasonable tax exempt rate of return while preserving capital. The following tables present the fair value of the Company’s pension and other postretirement benefit plan assets at December 31, 2015 and 2014 , by asset category and valuation methodology. Level 1 assets are valued using unadjusted quoted prices for identical assets in active markets. Level 2 assets are valued using quoted prices or other observable inputs for similar assets. Level 3 assets are valued using unobservable inputs, but reflect the assumptions market participants would be expected to use in pricing the assets. Each financial instrument’s categorization is based on the lowest level of input that is significant to the fair value measurement. 2015 In millions Total Level 1 Level 2 Level 3 Pension Plan Assets: Cash and equivalents $ 53 $ 53 $ — $ — Equity securities: Domestic 1 1 — — Foreign 62 62 — — Fixed income securities: Government securities 285 — 285 — Corporate debt securities 483 — 483 — Investment contracts with insurance companies 1 — — 1 Commingled funds: Mutual funds 145 145 — — Collective trust funds 1,347 Partnerships/private equity interests 66 Other (2 ) — (2 ) — $ 2,441 $ 261 $ 766 $ 1 Other Postretirement Benefit Plan Assets: Cash and equivalents $ 8 $ 8 $ — $ — Life insurance policies 334 $ 342 $ 8 $ — $ — 2014 In millions Total Level 1 Level 2 Level 3 Pension Plan Assets: Cash and equivalents $ 164 $ 164 $ — $ — Equity securities: Domestic 1 1 — — Foreign 72 72 — — Fixed income securities: Government securities 286 — 286 — Corporate debt securities 378 — 378 — Mortgage-backed securities 8 — 8 — Investment contracts with insurance companies 1 — — 1 Commingled funds: Mutual funds 317 317 — — Collective trust funds 1,252 Partnerships/private equity interests 77 Other 1 — — 1 $ 2,557 $ 554 $ 672 $ 2 Other Postretirement Benefit Plan Assets: Cash and equivalents $ 11 $ 11 $ — $ — Life insurance policies 361 $ 372 $ 11 $ — $ — Cash and equivalents include cash on hand and instruments with original maturities of three months or less and are valued at cost, which approximates fair value. Equity securities primarily include common and preferred equity securities covering a wide range of industries and geographies that are traded in active markets and are valued based on quoted prices. Fixed income securities primarily consist of U.S. and foreign government bills, notes and bonds, corporate debt securities, asset-backed securities and investment contracts. The majority of the assets in this category are valued by evaluating bid prices provided by independent financial data services. For securities where market data is not readily available, unobservable market data is used to value the security. Mutual funds are traded in active markets and are valued based on quoted prices. The underlying investments include small-cap equity, international equity and long- and short-term fixed income instruments. Other primarily includes derivative instruments such as interest rate swaps used by fixed income investment managers to offset interest rate sensitivity. In May 2015, the FASB issued authoritative guidance removing investments measured at net asset value from the fair value hierarchy disclosures as a practical expedient. The Company early adopted this guidance in the fourth quarter of 2015 and applied it retrospectively to all periods presented. Adoption of this guidance resulted in the removal of $ 1.7 billion of pension and other postretirement plan assets from the Company's fair value hierarchy disclosures as of December 31, 2014 . These investments include collective trust funds, partnerships/private equity interests and life insurance policies. Collective trust funds are private funds that are valued at net asset value based on the value of the underlying investments which can be redeemed on a daily basis. The underlying investments include both passively and actively managed U.S. and foreign large- and mid-cap equity funds and short-term investment funds. Partnerships/private equity interests are investments in partnerships where the benefit plan is a limited partner. The investments are valued by the investment managers on a periodic basis using pricing models that use market, income and cost valuation methods. Distributions are received from these funds on a periodic basis through the liquidation of the underlying assets of the fund. Life insurance policies are used to fund other postretirement benefits in order to obtain favorable tax treatment and are valued based on the cash surrender value of the underlying policies. The Company has selected the funds which these assets are invested in and may elect to withdraw funds with proper notice to the insurance company or maintain the policies and receive death benefits as determined by the contracts. Cash Flows The Company generally funds its pension and other postretirement benefit plans as required by law or to the extent such contributions are tax deductible. The Company expects to contribute approximately $ 73 million to its pension plans and $ 5 million to its other postretirement benefit plans in 2016 . The Company’s portion of the benefit payments that are expected to be paid during the years ending December 31 is as follows: In millions Pension Other Postretirement Benefits 2016 $ 173 $ 35 2017 176 37 2018 178 38 2019 180 39 2020 178 39 Years 2021-2025 872 199

Other Noncurrent Liabilities

Other Noncurrent Liabilities	12 Months Ended
	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Other Noncurrent Liabilities	Other Noncurrent Liabilities at December 31, 2015 and 2014 consisted of the following: In millions 2015 2014 Pension benefit obligation $ 251 $ 257 Postretirement benefit obligation 211 220 Other 519 525 $ 981 $ 1,002

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies —The Company is subject to various legal proceedings and claims that arise in the ordinary course of business, including those involving environmental, product liability (including toxic tort) and general liability claims. The Company accrues for such liabilities when it is probable that future costs will be incurred and such costs can be reasonably estimated. Such accruals are based on developments to date, the Company’s estimates of the outcomes of these matters and its experience in contesting, litigating and settling other similar matters. The Company believes resolution of these matters, individually and in the aggregate, will not have a material adverse effect on the Company’s financial position, liquidity or future operations.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Stockholders' Equity	Preferred Stock , without par value, of which 0.3 million shares are authorized and unissued, is issuable in series. The Board of Directors is authorized to fix by resolution the designation and characteristics of each series of preferred stock. The Company has no present commitment to issue its preferred stock. Common Stock , with a par value of $0.01 , Additional Paid-In-Capital and Common Stock Held in Treasury transactions during 2015 , 2014 , and 2013 are shown below. Common Stock Additional Paid-In- Capital Common Stock Held in Treasury In millions Shares Amount Amount Shares Amount Balance, December 31, 2012 549.6 $ 5 $ 1,012 (94.5 ) $ (4,722 ) During 2013- Shares issued for stock options 0.4 1 9 4.0 198 Shares withheld for taxes — — — (0.2 ) (11 ) Shares issued for stock compensation and vesting of restricted stock — — (28 ) 0.6 28 Stock compensation expense — — 36 — 1 Noncontrolling interest — — (8 ) — — Tax benefits related to stock options — — 23 — — Tax benefits related to defined contribution plans — — 2 — — Repurchases of common stock — — — (29.7 ) (2,170 ) Balance, December 31, 2013 550.0 6 1,046 (119.8 ) (6,676 ) During 2014- Shares issued for stock options — — — 3.0 148 Shares withheld for taxes — — — (0.1 ) (14 ) Shares issued for stock compensation and vesting of restricted stock — — (26 ) 0.5 26 Stock compensation expense — — 39 — — Tax benefits related to stock options — — 33 — — Tax benefits related to defined contribution plans — — 4 — 1 Repurchases of common stock — — — (50.4 ) (4,283 ) Balance, December 31, 2014 550.0 6 1,096 (166.8 ) (10,798 ) During 2015- Shares issued for stock options — — (2 ) 1.2 61 Shares withheld for taxes — — — (0.1 ) (11 ) Shares issued for stock compensation and vesting of restricted stock — — (19 ) 0.4 19 Stock compensation expense — — 39 — 2 Noncontrolling interest — — (2 ) — — Tax benefits related to stock options — — 20 — — Tax benefits related to defined contribution plans — — 3 — — Repurchases of common stock — — — (21.0 ) (2,002 ) Balance, December 31, 2015 550.0 $ 6 $ 1,135 (186.3 ) $ (12,729 ) Authorized, December 31, 2015 700.0 On May 6, 2011, the Company’s Board of Directors authorized a stock repurchase program, which provided for the repurchase of up to $4.0 billion of the Company’s common stock over an open-ended period of time (the "2011 Program"). Under the 2011 Program, the Company repurchased approximately 1.8 million shares of its common stock at an average price of $43.20 per share during 2011, approximately 35.5 million shares of its common stock at an average price of $56.93 per share during 2012 and approximately 26.4 million shares of its common stock at an average price of $71.89 per share during 2013. As of December 31, 2013, there were no authorized repurchases remaining under the 2011 Program. On August 2, 2013, the Company’s Board of Directors authorized a new stock repurchase program, which provided for the repurchase of up to an additional $6.0 billion of the Company’s common stock over an open-ended period of time (the "2013 Program"). Under the 2013 Program, the Company repurchased approximately 3.3 million shares of its common stock at an average price of $81.62 per share during 2013, approximately 50.4 million shares of its common stock at an average price of $84.92 per share during 2014, and approximately 14.9 million shares of its common stock at an average price of $96.84 during 2015. As of December 31, 2015 , there were no authorized repurchases remaining under the 2013 Program. On February 13, 2015, the Company's Board of Directors authorized a new stock repurchase program, which provides for the repurchase of up to an additional $6.0 billion of the Company’s common stock over an open-ended period of time (the "2015 Program"). Under the 2015 Program, the Company repurchased approximately 6.1 million shares of its common stock at an average price of $91.78 per share during 2015. As of December 31, 2015 , there was approximately $5.4 billion of authorized repurchases remaining under the 2015 Program. Cash Dividends declared were $2.07 per share in 2015 , $1.81 per share in 2014 and $1.60 per share in 2013 . Cash dividends paid were $2.005 per share in 2015 , $1.745 per share in 2014 and $1.18 per share in 2013 . Cash dividends paid during 2013 do not include the dividend payment of $ 0.38 per share originally scheduled to be paid in January 2013, which was accelerated and paid in December 2012. Accumulated Other Comprehensive Income (Loss) —In March 2013, new accounting guidance was issued which clarifies that an entity should release cumulative translation adjustments into net income when the entity ceases to have a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity, which is consistent with the Company's prior accounting policy. The new guidance became effective for the Company on January 1, 2014 and did not have any impact on the Company's financial statements. The changes in accumulated other comprehensive income (loss) during 2015 , 2014 and 2013 were as follows: In millions 2015 2014 2013 Beginning balance $ (658 ) $ 384 $ 293 Foreign currency translation adjustments during the period (800 ) (806 ) (200 ) Foreign currency translation adjustments reclassified to income — (133 ) 7 Income taxes (60 ) — — Total foreign currency translation adjustments (860 ) (939 ) (193 ) Pension and other postretirement benefit adjustments during the period (41 ) (224 ) 327 Pension and other postretirement benefit adjustments reclassified to income 61 54 122 Income taxes (6 ) 67 (165 ) Total pension and other postretirement benefit adjustments 14 (103 ) 284 Ending balance $ (1,504 ) $ (658 ) $ 384 Foreign currency translation adjustments reclassified to income are primarily related to the disposal of certain discontinued operations and were included in the related gain or loss upon disposal. Refer to the Discontinued Operations note for additional information regarding the sale of the Company's discontinued operations. Pension and other postretirement benefit adjustments reclassified to income represent the amortization of actuarial losses and prior service cost, and settlement and curtailment charges recognized in net periodic benefit cost. Refer to the Pension and Other Postretirement Benefits note for the amounts included in net periodic benefit cost. Pension and other postretirement benefit adjustments reclassified to income also include the reclass of deferred losses of $6 million for each of the years ended December 31, 2014 and 2013 related to the disposal of certain discontinued operations. Refer to the Discontinued Operations note for additional information regarding the sale of the Company's discontinued operations. The Company designated € 1.0 billion of Euro notes issued in May 2014 and € 1.0 billion of Euro notes issued in May 2015 as hedges of a portion of its net investment in Euro-denominated foreign operations to reduce foreign currency risk associated with the investment in these operations. Changes in the value of this debt resulting from fluctuations in the Euro to U.S. Dollar exchange rate have been recorded as foreign currency translation adjustments within Accumulated other comprehensive income (loss). The cumulative unrealized gain recorded in Accumulated other comprehensive income (loss) related to the net investment hedge was $308 million and $158 million as of December 31, 2015 and December 31, 2014 , respectively. As of December 31, 2015 and 2014 , the ending balance of Accumulated other comprehensive income (loss) consisted of cumulative translation adjustment losses of $1.1 billion and $265 million , respectively, and unrecognized pension and other postretirement benefits costs of $379 million and $393 million , respectively. The estimated unrecognized benefit cost that will be amortized from Accumulated other comprehensive income (loss) into net periodic benefit cost in 2016 is $ 43 million for pension and other postretirement benefits.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation —On May 8, 2015 (the "Effective Date"), the 2015 Long-Term Incentive Plan (the "2015 Plan") was approved by shareholders. As of the Effective Date, no additional awards will be granted to employees under the 2011 Long-Term Incentive Plan (the "2011 Plan"). The significant terms of stock options and restricted stock units ("RSUs") were not changed under the 2015 Plan. Stock options and RSUs have been issued to officers and other management employees under these plans. Stock options generally vest over a four -year period and have a maturity of ten years from the issuance date. RSUs generally "cliff" vest after a three -year period and include units with and without performance criteria. RSUs with performance criteria provide for full "cliff" vesting after three years if the Compensation Committee certifies that the performance goals have been met. Upon vesting, the holder will receive one share of common stock of the Company for each vested RSU. Prior to February 2013, the Company generally issued new shares from its authorized but unissued share pool to cover the exercised options and vested RSUs. Commencing in February 2013, the Company began issuing shares from treasury stock. As of December 31, 2015 , approximately 17 million shares of ITW common stock were reserved for issuance under these plans. The Company records compensation expense for the grant date fair value of stock awards over the remaining service periods of those awards. The following table summarizes the Company’s stock-based compensation expense: In millions 2015 2014 2013 Pre-tax compensation expense $ 35 $ 34 $ 30 Tax benefit (12 ) (12 ) (10 ) Total stock-based compensation expense, net of tax $ 23 $ 22 $ 20 There was no pre-tax stock-based compensation expense included in income from discontinued operations in 2015 . Pre-tax stock-based compensation expense included in Income from discontinued operations was $5 million in 2014 and $6 million in 2013 . The following table summarizes activity related to non-vested RSUs during 2015 : Shares in millions Number of Shares Weighted-Average Grant-Date Fair Value Unvested, January 1, 2015 1.0 $60.68 Granted 0.3 92.44 Vested (0.4 ) 52.11 Canceled (0.1 ) 70.96 Unvested, December 31, 2015 0.8 73.58 The following table summarizes stock option activity for the year ended December 31, 2015 : In millions except exercise price and contractual terms Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Under option, January 1, 2015 7.1 $56.25 Granted 0.6 98.26 Exercised (1.2 ) 49.41 Canceled or expired (0.1 ) 71.41 Under option, December 31, 2015 6.4 61.44 5.7 $201 Exercisable, December 31, 2015 4.5 54.19 4.7 $175 The fair value of RSUs is determined by reducing the closing market price on the date of the grant by the present value of projected dividends over the vesting period. Stock option exercise prices are equal to the common stock fair market value on the date of grant. The Company uses a binomial option pricing model to estimate the fair value of the stock options granted. The following summarizes the assumptions used in the models: 2015 2014 2013 Risk-free interest rate 0.23-2.25% 0.16-2.83% 0.2-2.9% Weighted-average volatility 23.0% 22.9% 21.1% Dividend yield 2.11% 2.46% 2.72% Expected years until exercise 6.9-8.0 6.7-7.9 6.6-7.6 Lattice-based option valuation models, such as the binomial option pricing model, incorporate ranges of assumptions for inputs. The risk-free rate of interest for periods within the contractual life of the option is based on a zero-coupon U.S. government instrument over the contractual term of the equity instrument. Expected volatility is based on implied volatility from traded options on the Company’s stock and historical volatility of the Company’s stock. The Company uses historical data to estimate option exercise timing and employee termination rates within the valuation model. The weighted-average dividend yield is based on historical information. The expected term of options granted is derived from the output of the option valuation model and represents the period of time that options granted are expected to be outstanding. The ranges presented result from separate groups of employees assumed to exhibit different behavior. The weighted-average grant-date fair value of stock options granted during 2015 , 2014 and 2013 was $ 20.58 , $15.14 and $10.06 per share, respectively. The aggregate intrinsic value of stock options exercised during the years ended December 31, 2015 , 2014 and 2013 was $ 55 million, $115 million and $108 million , respectively. As of December 31, 2015 , there was $ 12 million of total unrecognized compensation cost related to unvested stock options. That cost is expected to be recognized over a weighted-average period of 1.7 years. Exercise of stock options during the years ended December 31, 2015 , 2014 and 2013 resulted in cash receipts of $ 59 million, $ 148 million and $206 million , respectively. The total fair value of vested stock option awards during the years ended December 31, 2015 , 2014 and 2013 was $ 13 million, $16 million and $16 million , respectively. As of December 31, 2015 , there was $ 18 million of total unrecognized compensation cost related to unvested RSUs. That cost is expected to be recognized over a weighted-average remaining contractual life of 1.5 years. The total fair value of vested RSU awards during the years ended December 31, 2015 , 2014 and 2013 was $ 20 million, $27 million and $23 million , respectively.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information —The Company's operations are organized and managed based on similar product offerings and similar end markets, and are reported to senior management as the following seven segments: Automotive OEM; Test & Measurement and Electronics; Food Equipment; Polymers & Fluids; Welding; Construction Products; and Specialty Products. The following is a description of the Company's seven segments: Automotive OEM —This segment is a global, niche supplier to top tier OEMs, providing unique innovation to address pain points for sophisticated customers with complex problems. Businesses in this segment produce components and fasteners for automotive-related applications. Test & Measurement and Electronics —This segment is a branded and innovative producer of test and measurement and electronic manufacturing and MRO solutions that improve efficiency and quality for customers in diverse end markets. Businesses in this segment produce equipment, consumables, and related software for testing and measuring of materials and structures, as well as equipment and consumables used in the production of electronic subassemblies and microelectronics. Food Equipment —This segment is a highly focused and branded industry-leader in commercial food equipment differentiated by innovation and integrated service offerings. Polymers & Fluids —This segment is a highly branded supplier to niche markets that require value-added, differentiated products. Businesses in this segment produce adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance. Welding —This segment is a branded value-added equipment and specialty consumable manufacturer with innovative and leading technology. Businesses in this segment produce arc welding equipment, consumables and accessories for a wide array of industrial and commercial applications. Construction Products —This segment is a branded supplier of innovative engineered fastening systems and solutions. Specialty Products —This segment is focused on diversified niche market opportunities that deliver strong operating results with substantial patent protection producing beverage packaging equipment and consumables, product coding and marking equipment and consumables, and appliance components and fasteners. Segments are allocated a fixed overhead charge based on the segment's revenue. Expenses not charged to the segments are reported separately as Unallocated. Because the Unallocated category includes a variety of items, it is subject to fluctuations on a quarterly and annual basis. Segment information for 2015 , 2014 and 2013 was as follows: In millions 2015 2014 2013 Operating revenue: Automotive OEM $ 2,529 $ 2,590 $ 2,396 Test & Measurement and Electronics 1,969 2,204 2,176 Food Equipment 2,096 2,177 2,047 Polymers & Fluids 1,712 1,927 1,993 Welding 1,650 1,850 1,837 Construction Products 1,587 1,707 1,717 Specialty Products 1,885 2,055 2,007 Intersegment revenue (23 ) (26 ) (38 ) Total $ 13,405 $ 14,484 $ 14,135 Operating income: Automotive OEM $ 613 $ 600 $ 490 Test & Measurement and Electronics 322 340 321 Food Equipment 498 453 385 Polymers & Fluids 335 357 335 Welding 415 479 464 Construction Products 316 289 238 Specialty Products 439 440 408 Total Segments 2,938 2,958 2,641 Unallocated (71 ) (70 ) (127 ) Total $ 2,867 $ 2,888 $ 2,514 Depreciation and amortization and impairment of goodwill and intangible assets: Automotive OEM $ 76 $ 79 $ 80 Test & Measurement and Electronics 110 115 119 Food Equipment 48 52 50 Polymers & Fluids 95 99 103 Welding 37 38 37 Construction Products 36 43 49 Specialty Products 75 81 84 Total Segments 477 507 522 Discontinued Operations — — 91 Total $ 477 $ 507 $ 613 Plant and equipment additions: Automotive OEM $ 106 $ 96 $ 119 Test & Measurement and Electronics 32 56 39 Food Equipment 37 47 37 Polymers & Fluids 20 28 28 Welding 23 36 35 Construction Products 26 41 32 Specialty Products 40 54 47 Total Segments 284 358 337 Discontinued Operations — 3 31 Total $ 284 $ 361 $ 368 Identifiable assets: Automotive OEM $ 1,419 $ 1,454 $ 1,571 Test & Measurement and Electronics 2,448 2,615 2,772 Food Equipment 1,054 1,123 1,184 Polymers & Fluids 2,034 2,257 2,420 Welding 747 879 936 Construction Products 1,129 1,249 1,309 Specialty Products 1,659 1,798 1,939 Total Segments 10,490 11,375 12,131 Corporate 5,239 6,090 5,632 Assets held for sale — — 1,836 Total $ 15,729 $ 17,465 $ 19,599 Identifiable assets by segment are those assets that are specifically used in that segment. Corporate assets are principally cash and equivalents, investments and other general corporate assets. Enterprise-wide information for 2015 , 2014 and 2013 was as follows: In millions 2015 2014 2013 Operating Revenue by Geographic Region: United States $ 6,167 $ 6,191 $ 6,030 Canada/Mexico 928 993 973 Total North America 7,095 7,184 7,003 Europe, Middle East and Africa 3,725 4,319 4,162 Asia Pacific 2,197 2,427 2,366 South America 388 554 604 $ 13,405 $ 14,484 $ 14,135 Operating revenue by geographic region is based on the customers' locations. Long-lived assets in any single country outside of the U.S. did not exceed 10% of the Company's total long-lived assets. No single customer accounted for more than 5% of consolidated revenues in 2015 , 2014 or 2013 . Additionally, the Company has thousands of product lines within its businesses; therefore, providing operating revenue by product line is not practicable.

Quarterly and Common Stock Data

Quarterly and Common Stock Data	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	QUARTERLY AND COMMON STOCK DATA (UNAUDITED) Quarterly Financial Data The unaudited quarterly financial data included as supplementary data reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. Three Months Ended March 31 June 30 September 30 December 31 In millions except per share amounts 2015 2014 2015 2014 2015 2014 2015 2014 Operating revenue $ 3,342 $ 3,569 $ 3,434 $ 3,719 $ 3,354 $ 3,692 $ 3,275 $ 3,504 Cost of revenue 1,970 2,158 2,024 2,219 1,953 2,182 1,941 2,114 Operating income 697 667 730 763 761 772 679 686 Income from continuing operations 458 428 480 494 511 507 450 461 Income (loss) from discontinued operations — 45 — 998 — 24 — (11 ) Net income 458 473 480 1,492 511 531 450 450 Income per share from continuing operations: Basic 1.22 1.01 1.31 1.22 1.40 1.29 1.24 1.19 Diluted 1.21 1.01 1.30 1.21 1.39 1.28 1.23 1.18 Net income per share: Basic 1.22 1.12 1.31 3.69 1.40 1.35 1.24 1.17 Diluted 1.21 1.11 1.30 3.66 1.39 1.34 1.23 1.16 In the second quarter of 2014, the Company recorded an after-tax gain of $ 1.1 billion , or $2.82 per diluted share, related to the sale of the Industrial Packaging business, which was included in Income (loss) from discontinued operations.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Consolidation and Translation	Consolidation and Translation — The financial statements include the Company and its majority-owned subsidiaries. The Company follows the equity method of accounting for investments where the Company has a significant influence but not a controlling interest. Intercompany transactions are eliminated from the financial statements. Foreign subsidiaries’ assets and liabilities are translated to U.S. dollars at end-of-period exchange rates. Revenues and expenses are translated at average rates for the period. Translation adjustments are reported as a component of accumulated other comprehensive income (loss) in stockholders’ equity.
Acquisitions	Acquisitions — The Company accounts for acquisitions under the acquisition method, in which assets acquired and liabilities assumed are recorded at fair value as of the date of acquisition. The operating results of the acquired companies are included in the Company’s consolidated financial statements from the date of acquisition.
Operating Revenues	Operating Revenue is recognized when persuasive evidence of an arrangement exists, product has shipped and the risks and rewards of ownership have transferred or services have been rendered, the price to the customer is fixed or determinable, and collectibility is reasonably assured, which is generally at the time of product shipment. Typical sales arrangements are for standard products and provide for transfer of ownership and risk of loss at the time of shipment. In limited circumstances where significant obligations to the customer are unfulfilled at the time of shipment, typically involving installation and customer acceptance, revenue recognition is deferred until such obligations have been completed. Customer allowances and rebates, consisting primarily of volume discounts and other short-term incentive programs, are estimated at the time of sale based on historical experience and known trends and are recorded as a reduction in reported revenues.
Research and Development Expenses	Research and Development Expenses are recorded as expense in the year incurred.
Advertising Expenses	Advertising Expenses are recorded as expense in the year incurred.
Income Taxes	Deferred U.S. federal income taxes and foreign withholding taxes have not been provided on the remaining undistributed earnings of certain international subsidiaries as these earnings are considered permanently invested. The Company utilizes the asset and liability method of accounting for income taxes. Deferred income taxes are determined based on the estimated future tax effects of differences between the financial and tax bases of assets and liabilities given the provisions of the enacted tax laws. Valuation allowances are established when it is estimated that it is more likely than not that the tax benefit of the deferred tax asset will not be realized. The Company recognizes interest and penalties related to income tax matters in income tax expense.
Income from Continuing Operations Per Share	Income Per Share from Continuing Operations is computed by dividing income from continuing operations by the weighted-average number of shares outstanding for the period. Income from continuing operations per diluted share is computed by dividing income from continuing operations by the weighted-average number of shares assuming dilution for stock options and restricted stock units.
Cash and Equivalents	Cash and Equivalents include cash on hand and instruments having original maturities of three months or less. Cash and equivalents are stated at cost, which approximates fair value.
Trade Receivables	Trade Receivables are net of allowances for uncollectible accounts, including reserves for customer credits and cash discounts .
Inventories	Inventories are stated at the lower of cost or net realizable value and include material, labor and factory overhead. The last-in, first-out ("LIFO") method is used to determine the cost of the inventories at certain U.S. businesses. The first-in, first-out ("FIFO") method, which approximates current cost, is used for all other inventories.
Net Plant and Equipment	Net Plant and Equipment are stated at cost, less accumulated depreciation. Renewals and improvements that increase the useful life of plant and equipment are capitalized. Maintenance and repairs are charged to expense as incurred. Depreciation of plant and equipment is primarily computed on an accelerated basis for U.S. businesses and on a straight-line basis for a majority of the international businesses.
Goodwill and Intangible Assets	The Company does not amortize goodwill and intangible assets that have indefinite lives. The Company performs an impairment assessment of goodwill and intangible assets with indefinite lives annually, or more frequently if triggering events occur, based on the estimated fair value of the related reporting unit or intangible asset. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Amortizable intangible assets are being amortized on a straight-line basis over their estimated useful lives of 3 to 20 years.
Accrued Expenses	The Company accrues for product warranties based on historical experience.
Debt	Long-term debt represents obligations with a maturity date greater than one year, and excludes current maturities that have been reclassified to short-term debt. Short-term debt represents obligations with a maturity date of one year or less and is stated at cost which approximates fair value. Short-term debt also includes current maturities of long-term debt.
Commitments and Contingencies	The Company accrues for such liabilities when it is probable that future costs will be incurred and such costs can be reasonably estimated.

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Results of discontinued operations	Results of the discontinued operations for the years ended December 31, 2014 and 2013 were as follows: In millions 2014 2013 Operating revenue $ 798 $ 2,769 Income before income taxes $ 1,805 $ 186 Income tax expense (749 ) (137 ) Income from discontinued operations $ 1,056 $ 49

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Premium over tangible net assets recorded for acquisitions based on purchase price allocations	The premium over tangible net assets recorded for acquisitions based on purchase price allocations during 2015 , 2014 and 2013 was as follows: 2015 2014 2013 In millions except weighted-average lives (years) Weighted- Average Life Premium Recorded Weighted- Average Life Premium Recorded Weighted- Average Life Premium Recorded Goodwill $ 2 $ 18 $ 247 Amortizable intangible assets: Patents and proprietary technology 6.4 2 15.4 8 9.8 34 Trademarks and brands — — 12.9 3 15.5 35 Customer lists and relationships — — 11.4 12 11.2 100 Other — — — — 5.0 12 Total amortizable intangible assets 6.4 2 12.9 23 11.4 181 Indefinite-lived intangible assets: Trademarks and brands — — — Total premium recorded $ 4 $ 41 $ 428

Rental Expense (Tables)

Rental Expense (Tables)	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Future minimum lease payments	Future minimum lease payments under non-cancelable leases for the years ending December 31 are as follows: In millions 2016 $ 98 2017 69 2018 47 2019 31 2020 23 2021 and future years 29 $ 297

Other Income (Expense) (Tables)

Other Income (Expense) (Tables)	12 Months Ended
	Dec. 31, 2015
Other Income and Expenses [Abstract]
Other Income (Expense)	Other Income (Expense) consisted of the following: In millions 2015 2014 2013 Interest income $ 52 $ 65 $ 50 Gain (loss) on disposal of operations and affiliates 16 (6 ) (5 ) Gain (loss) on foreign currency transactions, net 5 8 (5 ) Income from investments 4 8 12 Gain on acquisition of controlling interest in an equity investment — — 30 Equity income (loss) in Wilsonart (4 ) (9 ) (14 ) Other, net 5 (5 ) 4 $ 78 $ 61 $ 72

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Components of provision for income taxes	The components of the provision for income taxes were as shown below: In millions 2015 2014 2013 U.S. federal income taxes: Current $ 503 $ 413 $ 410 Deferred 8 121 84 511 534 494 Foreign income taxes: Current 310 163 153 Deferred (11 ) 66 35 Benefit of net operating loss carryforwards (48 ) (13 ) (13 ) 251 216 175 State income taxes: Current 66 50 64 Deferred (8 ) 9 (16 ) 58 59 48 $ 820 $ 809 $ 717
Income from continuing operations before income taxes	Income from continuing operations before income taxes for domestic and foreign operations was as follows: In millions 2015 2014 2013 Domestic $ 1,660 $ 1,669 $ 1,444 Foreign 1,059 1,030 903 $ 2,719 $ 2,699 $ 2,347
Reconciliation between the U.S. Federal statutory tax rate and the effective tax rate	The reconciliation between the U.S. federal statutory tax rate and the effective tax rate was as follows: 2015 2014 2013 U.S. federal statutory tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of U.S. federal tax benefit 1.4 1.6 1.8 Differences between U.S. federal statutory and foreign tax rates (3.1 ) (3.5 ) (3.4 ) Nontaxable foreign interest income (3.3 ) (3.6 ) (3.5 ) Tax effect of foreign dividends 2.8 2.1 2.4 Tax relief for U.S. manufacturers (1.6 ) (1.5 ) (1.3 ) Other, net (1.1 ) (0.1 ) (0.4 ) Effective tax rate 30.1 % 30.0 % 30.6 %
Components of deferred income tax assets and liabilities	The components of deferred income tax assets and liabilities at December 31, 2015 and 2014 were as follows: 2015 2014 In millions Asset Liability Asset Liability Goodwill and intangible assets $ 282 $ (734 ) $ 277 $ (758 ) Inventory reserves, capitalized tax cost and LIFO inventory 42 (5 ) 48 (1 ) Investments 25 (298 ) 31 (273 ) Plant and equipment 28 (84 ) 26 (85 ) Accrued expenses and reserves 79 — 73 — Employee benefit accruals 314 — 324 — Foreign tax credit carryforwards 216 — 195 — Net operating loss carryforwards 643 — 670 — Capital loss carryforwards 39 — 80 — Allowances for uncollectible accounts 13 — 11 — Pension liabilities 13 — 11 — Deferred intercompany deductions — — 14 — Unrealized loss (gain) on foreign debt instruments — (115 ) — (59 ) Other 109 (10 ) 123 (10 ) Gross deferred income tax assets (liabilities) 1,803 (1,246 ) 1,883 (1,186 ) Valuation allowances (467 ) — (530 ) — Total deferred income tax assets (liabilities) $ 1,336 $ (1,246 ) $ 1,353 $ (1,186 )
Net operating loss carryforwards	At December 31, 2015 , the Company had net operating loss carryforwards available to offset future taxable income in the U.S. and certain foreign jurisdictions, which expire as follows: Gross Carryforwards Related In millions to Net Operating Losses 2016 $ 1 2017 11 2018 8 2019 10 2020 80 2021 75 2022 21 2023-2035 52 Do not expire 2,104 $ 2,362
Changes in amount of unrecognized tax benefits	The changes in the amount of unrecognized tax benefits during 2015 , 2014 and 2013 were as follows: In millions 2015 2014 2013 Beginning balance $ 218 $ 268 $ 249 Additions based on tax positions related to the current year 39 23 26 Additions for tax positions of prior years 54 12 40 Reductions for tax positions of prior years (41 ) (59 ) (21 ) Settlements (6 ) (18 ) (27 ) Foreign currency translation (5 ) (8 ) 1 Ending balance $ 259 $ 218 $ 268
Open tax years for Company's major jurisdictions	The following table summarizes the open tax years for the Company’s major jurisdictions: Jurisdiction Open Tax Years United States – Federal 2012-2015 United Kingdom 2012-2015 Germany 2009-2015 France 2013-2015 Australia 2011-2015

Income Per Share from Continu41

Income Per Share from Continuing Operations (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Income Per Share from Continuing Operations	The computation of income per share from continuing operations was as follows: In millions except per share amounts 2015 2014 2013 Income from continuing operations $ 1,899 $ 1,890 $ 1,630 Income per share from continuing operations—Basic: Weighted-average common shares 367.9 401.7 446.2 Income per share from continuing operations—Basic $ 5.16 $ 4.70 $ 3.65 Income per share from continuing operations—Diluted: Weighted-average common shares 367.9 401.7 446.2 Effect of dilutive stock options and restricted stock units 2.2 2.9 3.1 Weighted-average common shares assuming dilution 370.1 404.6 449.3 Income per share from continuing operations—Diluted $ 5.13 $ 4.67 $ 3.63

Trade Receivables (Tables)

Trade Receivables (Tables)	12 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
Changes in allowances for uncollectible accounts	The changes in the allowances for uncollectible accounts during 2015 , 2014 and 2013 were as follows: In millions 2015 2014 2013 Beginning balance $ (43 ) $ (46 ) $ (65 ) Provision charged to expense (7 ) (7 ) (3 ) Write-offs, net of recoveries 5 7 14 Acquisitions and divestitures — — (1 ) Foreign currency translation 3 3 1 Transfer to assets held for sale — — 8 Ending balance $ (42 ) $ (43 ) $ (46 )

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories at December 31, 2015 and 2014 were as follows: In millions 2015 2014 Raw material $ 415 $ 458 Work-in-process 130 133 Finished goods 622 677 LIFO reserve (81 ) (88 ) $ 1,086 $ 1,180

Prepaid Expenses and Other Cu44

Prepaid Expenses and Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses and other current assets	Prepaid Expenses and Other Current Assets as of December 31, 2015 and 2014 were as follows: In millions 2015 2014 Income tax refunds receivable $ 147 $ 129 Value-added-tax receivables 48 50 Vendor advances 22 30 Other 124 192 $ 341 $ 401

Plant and Equipment (Tables)

Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Net plant and equipment	Net plant and equipment consisted of the following at December 31, 2015 and 2014 : In millions 2015 2014 Land $ 179 $ 177 Buildings and improvements 1,272 1,200 Machinery and equipment 2,972 3,034 Equipment leased to others 156 158 Construction in progress 76 230 Gross plant and equipment 4,655 4,799 Accumulated depreciation (3,078 ) (3,113 ) Net plant and equipment $ 1,577 $ 1,686
Range of useful lives used to depreciate plant and equipment	The ranges of useful lives used to depreciate plant and equipment are as follows: Buildings and improvements 5—50 years Machinery and equipment 3—12 years Equipment leased to others Term of lease

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization and impairment of goodwill and other intangible assets	Amortization and impairment of goodwill and other intangible assets for the years ended December 31, 2015 , 2014 and 2013 were as follows: In millions 2015 2014 2013 Goodwill: Impairment $ — $ — $ — Intangible Assets: Amortization 231 242 250 Impairment 2 3 2 $ 233 $ 245 $ 252
Schedule of indefinite-lived intangible assets	A summary of indefinite-lived intangible assets that were adjusted to fair value and the related impairment charges for the years ended December 31, 2015 , 2014 , and 2013 is as follows: 2015 2014 2013 In millions Carrying Value Fair Value Total Impairment Charges Carrying Value Fair Value Total Impairment Charges Carrying Value Fair Value Total Impairment Charges Indefinite-lived intangible assets $ 26 $ 24 $ 2 $ 11 $ 8 $ 3 $ 42 $ 40 $ 2
Carrying amount of goodwill by segment	The changes in the carrying amount of goodwill for the years ended December 31, 2015 and 2014 were as follows: In millions Automotive OEM Test & Measurement and Electronics Food Equipment Polymers & Fluids Welding Construction Products Specialty Products Total Balance, December 31, 2013 $ 320 $ 1,426 $ 294 $ 1,021 $ 294 $ 561 $ 970 $ 4,886 2014 activity: Acquisitions & divestitures (3 ) — — 3 — 8 — 8 Impairment charges — — — — — — — — Foreign currency translation (23 ) (36 ) (18 ) (60 ) (17 ) (27 ) (46 ) (227 ) Balance, December 31, 2014 294 1,390 276 964 277 542 924 4,667 2015 activity: Acquisitions & divestitures — — — (6 ) 1 — — (5 ) Impairment charges — — — — — — — — Foreign currency translation (17 ) (35 ) (17 ) (64 ) (17 ) (26 ) (47 ) (223 ) Balance, December 31, 2015 $ 277 $ 1,355 $ 259 $ 894 $ 261 $ 516 $ 877 $ 4,439 Cumulative goodwill impairment charges, December 31, 2015 $ 24 $ 83 $ 60 $ 15 $ 5 $ 7 $ 46 $ 240
Intangible assets	Intangible assets as of December 31, 2015 and 2014 were as follows: 2015 2014 In millions Cost Accumulated Amortization Net Cost Accumulated Amortization Net Amortizable intangible assets: Customer lists and relationships $ 1,630 $ (943 ) $ 687 $ 1,638 $ (820 ) $ 818 Trademarks and brands 724 (298 ) 426 707 (249 ) 458 Patents and proprietary technology 618 (397 ) 221 622 (354 ) 268 Other 475 (446 ) 29 471 (430 ) 41 Total amortizable intangible assets 3,447 (2,084 ) 1,363 3,438 (1,853 ) 1,585 Indefinite-lived intangible assets: Trademarks and brands 197 — 197 214 — 214 Total intangible assets $ 3,644 $ (2,084 ) $ 1,560 $ 3,652 $ (1,853 ) $ 1,799
Estimated amortization expense of intangible assets.	The estimated amortization expense of intangible assets for the future years ending December 31 is as follows: In millions 2016 $ 217 2017 196 2018 175 2019 153 2020 134

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of other assets	Other assets as of December 31, 2015 and 2014 consisted of the following: In millions 2015 2014 Cash surrender value of life insurance policies $ 428 $ 418 Prepaid pension assets 191 165 Equity investment in Wilsonart 113 141 Investments 99 110 Customer tooling 88 96 Other 168 181 $ 1,087 $ 1,111

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses as of December 31, 2015 and 2014 consisted of the following accruals: In millions 2015 2014 Compensation and employee benefits $ 363 $ 441 Deferred revenue and customer deposits 169 194 Rebates 125 128 Warranties 46 49 Current portion of pension and other postretirement benefit obligations 15 14 Other 418 461 $ 1,136 $ 1,287
Changes in Accrued Product Warranties	The changes in accrued warranties during 2015 , 2014 and 2013 were as follows: In millions 2015 2014 2013 Beginning balance $ 49 $ 50 $ 51 Charges (37 ) (41 ) (44 ) Provision charged to expense 36 43 43 Acquisitions and divestitures — — 2 Foreign currency translation (2 ) (3 ) 1 Transfer to liabilities held for sale — — (3 ) Ending balance $ 46 $ 49 $ 50

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of short-term debt	Short-term debt as of December 31, 2015 and 2014 consisted of the following: In millions 2015 2014 Commercial paper $ 498 $ 1,413 Bank overdrafts 25 62 Current maturities of long-term debt 1 1 Other borrowings 2 — $ 526 $ 1,476
Schedule of long-term debt instruments	Long-term debt at carrying value and fair value as of December 31, 2015 and 2014 consisted of the following: 2015 2014 In millions Effective Interest Rate Carrying Value Fair Value Carrying Value Fair Value 0.90% notes due February 25, 2017 0.95% $ 649 $ 649 $ 648 $ 648 1.95% notes due March 1, 2019 1.98% 647 655 647 651 6.25% notes due April 1, 2019 6.25% 698 790 697 817 4.88% notes due thru December 31, 2020 4.96% 4 4 5 6 3.375% notes due September 15, 2021 3.43% 347 362 347 369 1.75% Euro notes due May 20, 2022 1.86% 536 564 597 640 1.25% Euro notes due May 22, 2023 1.35% 536 538 — — 3.50% notes due March 1, 2024 3.54% 695 727 694 735 2.125% Euro notes due May 22, 2030 2.18% 536 530 — — 3.0% Euro notes due May 19, 2034 3.13% 528 569 588 702 4.875% notes due September 15, 2041 4.97% 635 708 635 746 3.9% notes due September 1, 2042 3.96% 1,080 1,051 1,079 1,110 Other borrowings 6 6 7 7 $ 6,897 $ 7,153 $ 5,944 $ 6,431 Current maturities (1 ) (1 ) $ 6,896 $ 5,943
Scheduled maturities of long-term debt	Scheduled maturities of long-term debt, including current maturities of long-term debt, for the future years ending December 31 are as follows: In millions 2016 $ 1 2017 649 2018 — 2019 1,346 2020 4 2021 and future years 4,897 $ 6,897

Pension and Other Postretirem50

Pension and Other Postretirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Pension and other postretirement benefit costs	Summarized information regarding the Company’s significant defined benefit pension and other postretirement benefit plans related to both continuing and discontinued operations is as follows: Pension Other Postretirement Benefits In millions 2015 2014 2013 2015 2014 2013 Components of net periodic benefit cost: Service cost $ 70 $ 80 $ 87 $ 11 $ 10 $ 12 Interest cost 92 103 100 24 24 24 Expected return on plan assets (151 ) (159 ) (157 ) (25 ) (25 ) (22 ) Amortization of actuarial (gain) loss 60 48 65 (1 ) (4 ) 1 Amortization of prior service cost 1 1 — 1 1 1 Settlement/curtailment (gain) loss — 1 49 — (9 ) — $ 72 $ 74 $ 144 $ 10 $ (3 ) $ 16 Net periodic benefit cost was included in the statement of income as follows: Pension Other Postretirement Benefits In millions 2015 2014 2013 2015 2014 2013 Income from continuing operations $ 72 $ 69 $ 131 $ 10 $ 6 $ 14 Income from discontinued operations — 5 13 — (9 ) 2 $ 72 $ 74 $ 144 $ 10 $ (3 ) $ 16
Change in benefit obligation	The following tables provide a rollforward of the plan benefit obligations, plan assets and a reconciliation of funded status for the years ended December 31, 2015 and 2014 for continuing and discontinued operations: Pension Other Postretirement Benefits In millions 2015 2014 2015 2014 Change in benefit obligation: Benefit obligation at January 1 $ 2,607 $ 2,545 $ 591 $ 519 Service cost 70 80 11 10 Interest cost 92 103 24 24 Plan participants’ contributions 3 3 13 13 Amendments 1 (5 ) — — Actuarial (gain) loss (82 ) 240 (43 ) 97 Acquisitions and divestitures — (97 ) — (18 ) Benefits paid (169 ) (192 ) (46 ) (46 ) Medicare subsidy received — — 2 2 Settlement/curtailment (gain) loss — (2 ) — (10 ) Foreign currency translation (60 ) (68 ) — — Benefit obligation at December 31 $ 2,462 $ 2,607 $ 552 $ 591
Change in plan assets	Pension Other Postretirement Benefits In millions 2015 2014 2015 2014 Change in plan assets: Fair value of plan assets at January 1 $ 2,557 $ 2,487 $ 372 $ 370 Actual return on plan assets 16 264 (3 ) 28 Company contributions 97 127 6 7 Plan participants’ contributions 3 3 13 13 Acquisitions/divestitures — (65 ) — — Benefits paid (169 ) (192 ) (46 ) (46 ) Foreign currency translation (63 ) (67 ) — — Fair value of plan assets at December 31 $ 2,441 $ 2,557 $ 342 $ 372 Funded status $ (21 ) $ (50 ) $ (210 ) $ (219 ) Other immaterial plans (50 ) (52 ) (5 ) (5 ) Net liability at December 31 $ (71 ) $ (102 ) $ (215 ) $ (224 ) The amounts recognized in the statement of financial position as of December 31 consist of: Other assets $ 191 $ 165 $ — $ — Accrued expenses (11 ) (10 ) (4 ) (4 ) Other noncurrent liabilities (251 ) (257 ) (211 ) (220 ) Net liability at end of year $ (71 ) $ (102 ) $ (215 ) $ (224 ) The pre-tax amounts recognized in accumulated other comprehensive income consist of: Net actuarial (gain) loss $ 631 $ 638 $ (20 ) $ (6 ) Prior service cost — 1 (1 ) (1 ) $ 631 $ 639 $ (21 ) $ (7 ) Accumulated benefit obligation $ 2,297 $ 2,361 Plans with accumulated benefit obligation in excess of plan assets as of December 31: Projected benefit obligation $ 164 $ 168 Accumulated benefit obligation $ 152 $ 154 Fair value of plan assets $ 25 $ 26
Weighted-average assumptions used in the valuations of pension and other postretirement benefits	The weighted-average assumptions used in the valuations of pension and other postretirement benefits were as follows: Pension Other Postretirement Benefits 2015 2014 2013 2015 2014 2013 Assumptions used to determine benefit obligations at December 31: Discount rate 3.95 % 3.70 % 4.32 % 4.55 % 4.15 % 4.95 % Rate of compensation increases 3.72 % 3.72 % 3.72 % — % — % — % Assumptions used to determine net periodic benefit cost for years ended December 31: Discount rate 3.70 % 4.32 % 3.85 % 4.15 % 4.95 % 4.15 % Expected return on plan assets 6.54 % 7.02 % 7.28 % 7.00 % 7.00 % 7.00 % Rate of compensation increases 3.72 % 3.72 % 3.86 % — % — % — %
Postretirement benefit obligation	The assumed health care cost trend rates used to determine the postretirement benefit obligation at December 31 were as follows: 2015 2014 2013 Health care cost trend rate assumed for the next year 6.00 % 8.00 % 8.00 % Ultimate trend rate 4.50 % 4.50 % 5.00 % Year the rate reaches the ultimate trend rate 2021 2022 2020
One-percentage-point change in assumed health care cost trend rates	A one percentage-point change in assumed health care cost trend rates would have the following impact: In millions 1 Percentage-Point Increase 1 Percentage-Point Decrease Change in service cost and interest cost for 2015 $ — $ (1 ) Change in postretirement benefit obligation at December 31, 2015 $ 7 $ (14 )
Defined benefit plan assets for plan benefits	The following tables present the fair value of the Company’s pension and other postretirement benefit plan assets at December 31, 2015 and 2014 , by asset category and valuation methodology. Level 1 assets are valued using unadjusted quoted prices for identical assets in active markets. Level 2 assets are valued using quoted prices or other observable inputs for similar assets. Level 3 assets are valued using unobservable inputs, but reflect the assumptions market participants would be expected to use in pricing the assets. Each financial instrument’s categorization is based on the lowest level of input that is significant to the fair value measurement. 2015 In millions Total Level 1 Level 2 Level 3 Pension Plan Assets: Cash and equivalents $ 53 $ 53 $ — $ — Equity securities: Domestic 1 1 — — Foreign 62 62 — — Fixed income securities: Government securities 285 — 285 — Corporate debt securities 483 — 483 — Investment contracts with insurance companies 1 — — 1 Commingled funds: Mutual funds 145 145 — — Collective trust funds 1,347 Partnerships/private equity interests 66 Other (2 ) — (2 ) — $ 2,441 $ 261 $ 766 $ 1 Other Postretirement Benefit Plan Assets: Cash and equivalents $ 8 $ 8 $ — $ — Life insurance policies 334 $ 342 $ 8 $ — $ — 2014 In millions Total Level 1 Level 2 Level 3 Pension Plan Assets: Cash and equivalents $ 164 $ 164 $ — $ — Equity securities: Domestic 1 1 — — Foreign 72 72 — — Fixed income securities: Government securities 286 — 286 — Corporate debt securities 378 — 378 — Mortgage-backed securities 8 — 8 — Investment contracts with insurance companies 1 — — 1 Commingled funds: Mutual funds 317 317 — — Collective trust funds 1,252 Partnerships/private equity interests 77 Other 1 — — 1 $ 2,557 $ 554 $ 672 $ 2 Other Postretirement Benefit Plan Assets: Cash and equivalents $ 11 $ 11 $ — $ — Life insurance policies 361 $ 372 $ 11 $ — $ —
Portion of the benefit payments are expected to be paid	The Company’s portion of the benefit payments that are expected to be paid during the years ending December 31 is as follows: In millions Pension Other Postretirement Benefits 2016 $ 173 $ 35 2017 176 37 2018 178 38 2019 180 39 2020 178 39 Years 2021-2025 872 199

Other Noncurrent Liabilities (T

Other Noncurrent Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Other noncurrent liabilities	Other Noncurrent Liabilities at December 31, 2015 and 2014 consisted of the following: In millions 2015 2014 Pension benefit obligation $ 251 $ 257 Postretirement benefit obligation 211 220 Other 519 525 $ 981 $ 1,002

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Summary of Common Stock, Additional Paid-In-Capital and Common Stock Held in Treasury	Common Stock , with a par value of $0.01 , Additional Paid-In-Capital and Common Stock Held in Treasury transactions during 2015 , 2014 , and 2013 are shown below. Common Stock Additional Paid-In- Capital Common Stock Held in Treasury In millions Shares Amount Amount Shares Amount Balance, December 31, 2012 549.6 $ 5 $ 1,012 (94.5 ) $ (4,722 ) During 2013- Shares issued for stock options 0.4 1 9 4.0 198 Shares withheld for taxes — — — (0.2 ) (11 ) Shares issued for stock compensation and vesting of restricted stock — — (28 ) 0.6 28 Stock compensation expense — — 36 — 1 Noncontrolling interest — — (8 ) — — Tax benefits related to stock options — — 23 — — Tax benefits related to defined contribution plans — — 2 — — Repurchases of common stock — — — (29.7 ) (2,170 ) Balance, December 31, 2013 550.0 6 1,046 (119.8 ) (6,676 ) During 2014- Shares issued for stock options — — — 3.0 148 Shares withheld for taxes — — — (0.1 ) (14 ) Shares issued for stock compensation and vesting of restricted stock — — (26 ) 0.5 26 Stock compensation expense — — 39 — — Tax benefits related to stock options — — 33 — — Tax benefits related to defined contribution plans — — 4 — 1 Repurchases of common stock — — — (50.4 ) (4,283 ) Balance, December 31, 2014 550.0 6 1,096 (166.8 ) (10,798 ) During 2015- Shares issued for stock options — — (2 ) 1.2 61 Shares withheld for taxes — — — (0.1 ) (11 ) Shares issued for stock compensation and vesting of restricted stock — — (19 ) 0.4 19 Stock compensation expense — — 39 — 2 Noncontrolling interest — — (2 ) — — Tax benefits related to stock options — — 20 — — Tax benefits related to defined contribution plans — — 3 — — Repurchases of common stock — — — (21.0 ) (2,002 ) Balance, December 31, 2015 550.0 $ 6 $ 1,135 (186.3 ) $ (12,729 ) Authorized, December 31, 2015 700.0
Changes in accumulated other comprehensive income (loss)	The changes in accumulated other comprehensive income (loss) during 2015 , 2014 and 2013 were as follows: In millions 2015 2014 2013 Beginning balance $ (658 ) $ 384 $ 293 Foreign currency translation adjustments during the period (800 ) (806 ) (200 ) Foreign currency translation adjustments reclassified to income — (133 ) 7 Income taxes (60 ) — — Total foreign currency translation adjustments (860 ) (939 ) (193 ) Pension and other postretirement benefit adjustments during the period (41 ) (224 ) 327 Pension and other postretirement benefit adjustments reclassified to income 61 54 122 Income taxes (6 ) 67 (165 ) Total pension and other postretirement benefit adjustments 14 (103 ) 284 Ending balance $ (1,504 ) $ (658 ) $ 384

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of stock based compensation expense	The following table summarizes the Company’s stock-based compensation expense: In millions 2015 2014 2013 Pre-tax compensation expense $ 35 $ 34 $ 30 Tax benefit (12 ) (12 ) (10 ) Total stock-based compensation expense, net of tax $ 23 $ 22 $ 20
Summary of activity related to non-vested equity awards	The following table summarizes activity related to non-vested RSUs during 2015 : Shares in millions Number of Shares Weighted-Average Grant-Date Fair Value Unvested, January 1, 2015 1.0 $60.68 Granted 0.3 92.44 Vested (0.4 ) 52.11 Canceled (0.1 ) 70.96 Unvested, December 31, 2015 0.8 73.58
Summary of stock option activity	The following table summarizes stock option activity for the year ended December 31, 2015 : In millions except exercise price and contractual terms Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Under option, January 1, 2015 7.1 $56.25 Granted 0.6 98.26 Exercised (1.2 ) 49.41 Canceled or expired (0.1 ) 71.41 Under option, December 31, 2015 6.4 61.44 5.7 $201 Exercisable, December 31, 2015 4.5 54.19 4.7 $175
Summary of assumptions used in option models	The Company uses a binomial option pricing model to estimate the fair value of the stock options granted. The following summarizes the assumptions used in the models: 2015 2014 2013 Risk-free interest rate 0.23-2.25% 0.16-2.83% 0.2-2.9% Weighted-average volatility 23.0% 22.9% 21.1% Dividend yield 2.11% 2.46% 2.72% Expected years until exercise 6.9-8.0 6.7-7.9 6.6-7.6

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment information	Segment information for 2015 , 2014 and 2013 was as follows: In millions 2015 2014 2013 Operating revenue: Automotive OEM $ 2,529 $ 2,590 $ 2,396 Test & Measurement and Electronics 1,969 2,204 2,176 Food Equipment 2,096 2,177 2,047 Polymers & Fluids 1,712 1,927 1,993 Welding 1,650 1,850 1,837 Construction Products 1,587 1,707 1,717 Specialty Products 1,885 2,055 2,007 Intersegment revenue (23 ) (26 ) (38 ) Total $ 13,405 $ 14,484 $ 14,135 Operating income: Automotive OEM $ 613 $ 600 $ 490 Test & Measurement and Electronics 322 340 321 Food Equipment 498 453 385 Polymers & Fluids 335 357 335 Welding 415 479 464 Construction Products 316 289 238 Specialty Products 439 440 408 Total Segments 2,938 2,958 2,641 Unallocated (71 ) (70 ) (127 ) Total $ 2,867 $ 2,888 $ 2,514 Depreciation and amortization and impairment of goodwill and intangible assets: Automotive OEM $ 76 $ 79 $ 80 Test & Measurement and Electronics 110 115 119 Food Equipment 48 52 50 Polymers & Fluids 95 99 103 Welding 37 38 37 Construction Products 36 43 49 Specialty Products 75 81 84 Total Segments 477 507 522 Discontinued Operations — — 91 Total $ 477 $ 507 $ 613 Plant and equipment additions: Automotive OEM $ 106 $ 96 $ 119 Test & Measurement and Electronics 32 56 39 Food Equipment 37 47 37 Polymers & Fluids 20 28 28 Welding 23 36 35 Construction Products 26 41 32 Specialty Products 40 54 47 Total Segments 284 358 337 Discontinued Operations — 3 31 Total $ 284 $ 361 $ 368 Identifiable assets: Automotive OEM $ 1,419 $ 1,454 $ 1,571 Test & Measurement and Electronics 2,448 2,615 2,772 Food Equipment 1,054 1,123 1,184 Polymers & Fluids 2,034 2,257 2,420 Welding 747 879 936 Construction Products 1,129 1,249 1,309 Specialty Products 1,659 1,798 1,939 Total Segments 10,490 11,375 12,131 Corporate 5,239 6,090 5,632 Assets held for sale — — 1,836 Total $ 15,729 $ 17,465 $ 19,599
Operating Revenues by Geographic Region	Enterprise-wide information for 2015 , 2014 and 2013 was as follows: In millions 2015 2014 2013 Operating Revenue by Geographic Region: United States $ 6,167 $ 6,191 $ 6,030 Canada/Mexico 928 993 973 Total North America 7,095 7,184 7,003 Europe, Middle East and Africa 3,725 4,319 4,162 Asia Pacific 2,197 2,427 2,366 South America 388 554 604 $ 13,405 $ 14,484 $ 14,135

Quarterly and Common Stock Da55

Quarterly and Common Stock Data Quarterly and Common Stock Data (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	The unaudited quarterly financial data included as supplementary data reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. Three Months Ended March 31 June 30 September 30 December 31 In millions except per share amounts 2015 2014 2015 2014 2015 2014 2015 2014 Operating revenue $ 3,342 $ 3,569 $ 3,434 $ 3,719 $ 3,354 $ 3,692 $ 3,275 $ 3,504 Cost of revenue 1,970 2,158 2,024 2,219 1,953 2,182 1,941 2,114 Operating income 697 667 730 763 761 772 679 686 Income from continuing operations 458 428 480 494 511 507 450 461 Income (loss) from discontinued operations — 45 — 998 — 24 — (11 ) Net income 458 473 480 1,492 511 531 450 450 Income per share from continuing operations: Basic 1.22 1.01 1.31 1.22 1.40 1.29 1.24 1.19 Diluted 1.21 1.01 1.30 1.21 1.39 1.28 1.23 1.18 Net income per share: Basic 1.22 1.12 1.31 3.69 1.40 1.35 1.24 1.17 Diluted 1.21 1.11 1.30 3.66 1.39 1.34 1.23 1.16

Notes to Financial Statements (

Notes to Financial Statements (Details)	12 Months Ended
	Dec. 31, 2015Countrydivision
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of company divisions | division	84
Number of countries with ITW operations | Country	57

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations	$ 0	$ 0	$ 0	$ 0	$ (11)	$ 24	$ 998	$ 45	$ 0	$ 1,056	$ 49
Discontinued Operations, Held-for-sale or Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating revenue											2,769
Income before income taxes											186
Income tax expense											(137)
Income from discontinued operations											$ 49
Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating revenue										798
Income before income taxes										1,805
Income tax expense										(749)
Income from discontinued operations										$ 1,056

Discontinued Operations (Deta58

Discontinued Operations (Details Textual) $ in Millions	3 Months Ended					12 Months Ended
	Jun. 30, 2014USD ($)business	Dec. 31, 2013business	Sep. 30, 2013business	Jun. 30, 2013business	Mar. 31, 2013business	Dec. 31, 2015USD ($)business	Dec. 31, 2014USD ($)business	Dec. 31, 2013USD ($)business	May. 01, 2014USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain (loss) on sale of a discontinued operation | $						$ 0	$ 1,718	$ (91)
Number of businesses classified as held for sale						0	0
Specialty Products | Machine components business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses planned for divestiture					1
Number of businesses divested				1
Specialty Products | Transportation related business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain (loss) on sale of a discontinued operation | $								$ (20)
Number of businesses planned for divestiture					2			1
Number of businesses divested			1	1				1
Goodwill impairment charge | $								$ 42
Specialty Products | Consumer packaging business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Previously divested businesses reclassified as discontinued operations					1
Construction Products | Construction distribution business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain (loss) on sale of a discontinued operation | $								(39)
Number of businesses planned for divestiture			1		2
Number of businesses divested	2	1
Polymers and Fluids | Specialty coatings business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses planned for divestiture			1
Number of businesses divested		1
Polymers and Fluids | Chemical manufacturing business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses planned for divestiture					1
Number of businesses divested				1
Industrial packaging business | Industrial packaging business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business | $									$ 3,200
Pre-tax gain (loss) on sale of a discontinued operation | $	$ 1,700
After-tax gain on sale of discontinued operations | $	$ 1,100
Number of businesses planned for divestiture			1
Number of businesses divested	1
Income tax expense | $								$ 42
Effective income tax rate reconciliation, repatriation of foreign earnings, amount | $							$ 175
Foreign earnings repatriated | $							$ 1,300
Industrial packaging business | Packaging distribution business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Previously divested businesses reclassified as discontinued operations					1

Acquisitions (Details 1)

Acquisitions (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Premium over tangible net assets recorded for acquisitions based on purchase price allocations
Goodwill	$ 4,439	$ 4,667	$ 4,886
Series of Individually Immaterial Business Acquisitions
Premium over tangible net assets recorded for acquisitions based on purchase price allocations
Goodwill	$ 2	$ 18	$ 247
Amortizable intangible assets:
Weighted- Average Life	6 years 4 months 24 days	12 years 10 months 12 days	11 years 4 months 24 days
Premium Recorded	$ 2	$ 23	$ 181
Total intangible assets:
Total premium recorded	4	41	428
Series of Individually Immaterial Business Acquisitions | Trademarks and brands
Indefinite-lived intangible assets:
Premium Recorded	$ 0	$ 0	$ 0
Series of Individually Immaterial Business Acquisitions | Patents and proprietary technology
Amortizable intangible assets:
Weighted- Average Life	6 years 4 months 24 days	15 years 4 months 12 days	9 years 9 months 18 days
Premium Recorded	$ 2	$ 8	$ 34
Series of Individually Immaterial Business Acquisitions | Trademarks and brands
Amortizable intangible assets:
Weighted- Average Life	0 years	12 years 10 months 12 days	15 years 6 months
Premium Recorded	$ 0	$ 3	$ 35
Series of Individually Immaterial Business Acquisitions | Customer lists and relationships
Amortizable intangible assets:
Weighted- Average Life	0 years	11 years 4 months 12 days	11 years 2 months 12 days
Premium Recorded	$ 0	$ 12	$ 100
Series of Individually Immaterial Business Acquisitions | Other
Amortizable intangible assets:
Weighted- Average Life	0 years	0 years	5 years
Premium Recorded	$ 0	$ 0	$ 12

Acquisitions (Details Textual)

Acquisitions (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Combinations [Abstract]
Net cash paid for acquisitions	$ 6	$ 45	$ 369
Expected tax deductible goodwill recorded for acquisitions	$ 0	$ 14	$ 25

Research and Development Expe61

Research and Development Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Research and Development Expenses (Textual) [Abstract]
Research and development expenses incurred	$ 218	$ 227	$ 240

Rental Expense (Details)

Rental Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Future minimum lease payments
2,016	$ 98
2,017	69
2,018	47
2,019	31
2,020	23
2021 and future years	29
Total	297
Rental Expense (Textual) [Abstract]
Rental Expenses	$ 117	$ 130	$ 138

Advertising Expenses (Details)

Advertising Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Advertising Expenses [Abstract]
Advertising expense	$ 58	$ 66	$ 67

Other Income (Expense) (Details

Other Income (Expense) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Other Nonoperating Income (Expense) [Abstract]
Interest income		$ 52	$ 65	$ 50
Gain (loss) on disposal of operations and affiliates		16	(6)	(5)
Gain (loss) on foreign currency transactions, net		5	8	(5)
Income from investments		4	8	12
Gain on acquisition of controlling interest in an equity investment	$ 30	0	0	30
Equity income (loss) in Wilsonart		(4)	(9)	(14)
Other, net		5	(5)	4
Total		$ 78	$ 61	$ 72
Wilsonart International Holdings LLC
Other Nonoperating Income (Expense) [Abstract]
Ownership percentage in Wilsonart					49.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S. federal income taxes:
Current	$ 503	$ 413	$ 410
Deferred	8	121	84
Provision for federal income taxes	511	534	494
Foreign income taxes:
Current	310	163	153
Deferred	(11)	66	35
Benefit of net operating loss carryforwards	(48)	(13)	(13)
Provision for foreign income taxes	251	216	175
State income taxes:
Current	66	50	64
Deferred	(8)	9	(16)
Provision for state income taxes	58	59	48
Provision for income taxes	$ 820	$ 809	$ 717

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income from continuing operations before income taxes
Domestic	$ 1,660	$ 1,669	$ 1,444
Foreign	1,059	1,030	903
Income from Continuing Operations Before Income Taxes	$ 2,719	$ 2,699	$ 2,347
Reconciliation between the U.S. Federal statutory tax rate and the effective tax rate
U.S. federal statutory tax rate	35.00%	35.00%	35.00%
State income taxes, net of U.S. federal tax benefit	1.40%	1.60%	1.80%
Differences between U.S. federal statutory and foreign tax rates	(3.10%)	(3.50%)	(3.40%)
Nontaxable foreign interest income	(3.30%)	(3.60%)	(3.50%)
Tax effect of foreign dividends	2.80%	2.10%	2.40%
Tax relief for U.S. manufacturers	(1.60%)	(1.50%)	(1.30%)
Other, net	(1.10%)	(0.10%)	(0.40%)
Effective tax rate	30.10%	30.00%	30.60%

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Deferred Tax Assets, Goodwill and intangible assets	$ 282	$ 277
Deferred Tax Assets, Inventory reserves, capitalized tax cost and LIFO inventory	42	48
Deferred Tax Assets, Investments	25	31
Deferred Tax Assets, Plant and equipment	28	26
Deferred Tax Assets, Accrued expense and reserves	79	73
Deferred Tax Assets, Employee benefit accruals	314	324
Deferred Tax Assets, Foreign tax credit carryforwards	216	195
Deferred Tax Assets, Net operating loss carryforwards	643	670
Deferred Tax Assets, Capital loss carryforwards	39	80
Deferred Tax Assets, Allowance for uncollectible accounts	13	11
Deferred Tax Assets, Pension liabilities	13	11
Deferred Tax Assets, Deferred intercompany deductions	0	14
Deferred Tax Assets, Unrealized loss on foreign debt instrument	0	0
Deferred Tax Assets, Other	109	123
Deferred Tax Assets, Gross deferred income tax assets	1,803	1,883
Deferred Tax Assets, Valuation allowances	(467)	(530)
Deferred Tax Assets, Total deferred income tax assets	1,336	1,353
Deferred Tax Liabilities, Goodwill and intangible assets	(734)	(758)
Deferred Tax Liabilities, Inventory reserves, capitalized tax cost and LIFO inventory	(5)	(1)
Deferred Tax Liabilities, Investments	(298)	(273)
Deferred Tax Liabilities, Plant and equipment	(84)	(85)
Deferred Tax Liabilities, Accrued expenses and reserves	0	0
Deferred Tax Liabilities, Deferred intercompany deductions	0	0
Deferred Tax Liabilities, Unrealized loss (gain) on foreign debt instruments	(115)	(59)
Deferred Tax Liabilities, Other	(10)	(10)
Deferred Tax Liabilities, Gross deferred income tax liabilities	(1,246)	(1,186)
Deferred Tax Liabilities, Total deferred income tax liabilities	$ (1,246)	$ (1,186)

Income Taxes (Details 3)

Income Taxes (Details 3) $ in Millions	Dec. 31, 2015USD ($)
Gross Net Operating Loss Carryforwards [Abstract]
Gross carryforwards related to net operating losses	$ 2,362
2,016
Gross Net Operating Loss Carryforwards [Abstract]
Gross carryforwards related to net operating losses	1
2,017
Gross Net Operating Loss Carryforwards [Abstract]
Gross carryforwards related to net operating losses	11
2,018
Gross Net Operating Loss Carryforwards [Abstract]
Gross carryforwards related to net operating losses	8
2,019
Gross Net Operating Loss Carryforwards [Abstract]
Gross carryforwards related to net operating losses	10
2,020
Gross Net Operating Loss Carryforwards [Abstract]
Gross carryforwards related to net operating losses	80
2,021
Gross Net Operating Loss Carryforwards [Abstract]
Gross carryforwards related to net operating losses	75
2,022
Gross Net Operating Loss Carryforwards [Abstract]
Gross carryforwards related to net operating losses	21
2023-2035
Gross Net Operating Loss Carryforwards [Abstract]
Gross carryforwards related to net operating losses	52
Do not expire
Gross Net Operating Loss Carryforwards [Abstract]
Gross carryforwards related to net operating losses	$ 2,104

Income Taxes (Details 4)

Income Taxes (Details 4) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Changes in the amount of unrecognized tax benefits
Beginning balance	$ 218	$ 268	$ 249
Additions based on tax positions related to the current year	39	23	26
Additions for tax positions of prior years	54	12	40
Reductions for tax positions of prior years	(41)	(59)	(21)
Settlements	(6)	(18)	(27)
Foreign currency translation	(5)	(8)	1
Ending balance	$ 259	$ 218	$ 268

Income Taxes (Details 5)

Income Taxes (Details 5)	12 Months Ended
	Dec. 31, 2015
Minimum | United States – Federal
Open tax years for the Company's major jurisdictions
Open tax years by major tax jurisdiction	2,012
Minimum | United Kingdom
Open tax years for the Company's major jurisdictions
Open tax years by major tax jurisdiction	2,012
Minimum | Germany
Open tax years for the Company's major jurisdictions
Open tax years by major tax jurisdiction	2,009
Minimum | France
Open tax years for the Company's major jurisdictions
Open tax years by major tax jurisdiction	2,013
Minimum | Australia
Open tax years for the Company's major jurisdictions
Open tax years by major tax jurisdiction	2,011
Maximum | United States – Federal
Open tax years for the Company's major jurisdictions
Open tax years by major tax jurisdiction	2,015
Maximum | United Kingdom
Open tax years for the Company's major jurisdictions
Open tax years by major tax jurisdiction	2,015
Maximum | Germany
Open tax years for the Company's major jurisdictions
Open tax years by major tax jurisdiction	2,015
Maximum | France
Open tax years for the Company's major jurisdictions
Open tax years by major tax jurisdiction	2,015
Maximum | Australia
Open tax years for the Company's major jurisdictions
Open tax years by major tax jurisdiction	2,015

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Millions	Feb. 18, 2014	Sep. 30, 2013	Dec. 31, 2015	Dec. 31, 2014
Undistributed earnings of international subsidiaries			$ 8,700	$ 7,100
Foreign tax credit carryforwards			216	195
Tax positions if recognized would impact effective tax rate			227
Discrete tax charge related to tax treatment of intercompany financing transactions		$ 40
Possible decrease in unrecognized tax benefits resulting from ongoing audits			113
Accrual for interest and penalties related to income tax matters			$ 32	30
New Accounting Pronouncement, Early Adoption, Effect
Increase in deferred tax assets, noncurrent				37
Decrease in deferred tax liabilities, noncurrent				$ 167
Internal Revenue Service (IRS) | Tax Year 2006
Operating Loss Carryforwards [Line Items]
Assessment of additional taxes	$ 70

Income Per Share from Continu72

Income Per Share from Continuing Operations (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Per Share from Continuing Operations
Income from continuing operations	$ 450	$ 511	$ 480	$ 458	$ 461	$ 507	$ 494	$ 428	$ 1,899	$ 1,890	$ 1,630
Income per share from continuing operations—Basic:
Weighted-average common shares (in shares)									367.9	401.7	446.2
Income per share from continuing operations—Basic	$ 1.24	$ 1.40	$ 1.31	$ 1.22	$ 1.19	$ 1.29	$ 1.22	$ 1.01	$ 5.16	$ 4.70	$ 3.65
Income per share from continuing operations—Diluted:
Weighted-average common shares (in shares)									367.9	401.7	446.2
Effect of dilutive stock options and restricted stock units (in shares)									2.2	2.9	3.1
Weighted-average common shares assuming dilution (in shares)									370.1	404.6	449.3
Income per share from continuing operations—Diluted (in dollars per share)	$ 1.23	$ 1.39	$ 1.30	$ 1.21	$ 1.18	$ 1.28	$ 1.21	$ 1.01	$ 5.13	$ 4.67	$ 3.63
Income Per Share from Continuing Operations (Textual) [Abstract]
Antidilutive options outstanding									0.6	0	0.1

Trade Receivables (Details)

Trade Receivables (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Changes in allowances for uncollectible accounts
Beginning balance	$ (43)	$ (46)	$ (65)
Provision charged to expense	(7)	(7)	(3)
Write-offs, net of recoveries	5	7	14
Acquisitions and divestitures	0	0	(1)
Foreign currency translation	3	3	1
Transfer to assets held for sale	0	0	8
Ending balance	$ (42)	$ (43)	$ (46)

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Inventories, Net [Abstract]
Raw material	$ 415	$ 458
Work-in-process	130	133
Finished goods	622	677
LIFO reserve	(81)	(88)
Total Inventories	$ 1,086	$ 1,180
Inventories (Textual) [Abstract]
Percentage of total inventories priced at LIFO	22.00%	22.00%

Prepaid Expenses and Other Cu75

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Prepaid Expense and Other Assets, Current [Abstract]
Income tax refunds receivable	$ 147	$ 129
Value-added-tax receivables	48	50
Vendor advances	22	30
Other	124	192
Total prepaid expenses and other current assets	$ 341	$ 401

Net Plant and Equipment (Detail

Net Plant and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Plant and Equipment (Textual) [Abstract]
Depreciation included in income from continuing operations	$ 244,000,000	$ 262,000,000	$ 270,000,000
Depreciation included in income from discontinued operations	$ 0	$ 0	$ 29,000,000
Equipment leased to others
Range of useful lives used to depreciate plant and equipment
Useful life of equipment leased to others	Term of Lease
Minimum | Buildings and improvements
Range of useful lives used to depreciate plant and equipment
Plant and equipment, useful life	5 years
Minimum | Machinery and equipment
Range of useful lives used to depreciate plant and equipment
Plant and equipment, useful life	3 years
Maximum | Buildings and improvements
Range of useful lives used to depreciate plant and equipment
Plant and equipment, useful life	50 years
Maximum | Machinery and equipment
Range of useful lives used to depreciate plant and equipment
Plant and equipment, useful life	12 years

Net Plant and Equipment - Compo

Net Plant and Equipment - Components of Plant and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Land	$ 179	$ 177
Buildings and improvements	1,272	1,200
Machinery and equipment	2,972	3,034
Equipment leased to others	156	158
Construction in progress	76	230
Gross plant and equipment	4,655	4,799
Accumulated depreciation	(3,078)	(3,113)
Net plant and equipment	$ 1,577	$ 1,686

Goodwill and Intangible Asset78

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Goodwill:
Impairment	$ 0	$ 0	$ 0
Intangible Assets:
Amortization	231	242	250
Impairment	2	3	2
Amortization and impairment of goodwill and other intangible assets	$ 233	$ 245	$ 252

Goodwill and Intangible Asset79

Goodwill and Intangible Assets (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]
Indefinite-lived intangible assets, carrying value	$ 26	$ 11	$ 42
Indefinite-lived intangible asset, fair value	24	8	40
Indefinite-lived intangible assets, total impairment charges	$ 2	$ 3	$ 2

Goodwill and Intangible Asset80

Goodwill and Intangible Assets (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Carrying amount of goodwill by segment
Balance, beginning	$ 4,667	$ 4,886
Acquisitions & divestitures	(5)	8
Impairment charges	0	0	$ 0
Foreign currency translation	(223)	(227)
Balance, ending	4,439	4,667	4,886
Cumulative goodwill impairment charges, December 31, 2015	240
Automotive OEM
Carrying amount of goodwill by segment
Balance, beginning	294	320
Acquisitions & divestitures	0	(3)
Impairment charges	0	0
Foreign currency translation	(17)	(23)
Balance, ending	277	294	320
Cumulative goodwill impairment charges, December 31, 2015	24
Test & Measurement and Electronics
Carrying amount of goodwill by segment
Balance, beginning	1,390	1,426
Acquisitions & divestitures	0	0
Impairment charges	0	0	0
Foreign currency translation	(35)	(36)
Balance, ending	1,355	1,390	1,426
Cumulative goodwill impairment charges, December 31, 2015	83
Food Equipment
Carrying amount of goodwill by segment
Balance, beginning	276	294
Acquisitions & divestitures	0	0
Impairment charges	0	0
Foreign currency translation	(17)	(18)
Balance, ending	259	276	294
Cumulative goodwill impairment charges, December 31, 2015	60
Polymers & Fluids
Carrying amount of goodwill by segment
Balance, beginning	964	1,021
Acquisitions & divestitures	(6)	3
Impairment charges	0	0
Foreign currency translation	(64)	(60)
Balance, ending	894	964	1,021
Cumulative goodwill impairment charges, December 31, 2015	15
Welding
Carrying amount of goodwill by segment
Balance, beginning	277	294
Acquisitions & divestitures	1	0
Impairment charges	0	0
Foreign currency translation	(17)	(17)
Balance, ending	261	277	294
Cumulative goodwill impairment charges, December 31, 2015	5
Construction Products
Carrying amount of goodwill by segment
Balance, beginning	542	561
Acquisitions & divestitures	0	8
Impairment charges	0	0
Foreign currency translation	(26)	(27)
Balance, ending	516	542	561
Cumulative goodwill impairment charges, December 31, 2015	7
Specialty Products
Carrying amount of goodwill by segment
Balance, beginning	924	970
Acquisitions & divestitures	0	0
Impairment charges	0	0
Foreign currency translation	(47)	(46)
Balance, ending	877	$ 924	970
Cumulative goodwill impairment charges, December 31, 2015	$ 46
Discontinued operations
Carrying amount of goodwill by segment
Impairment charges			$ 42

Goodwill and Intangible Asset81

Goodwill and Intangible Assets (Details 3) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Amortizable intangible assets:
Amortizable intangible assets, Cost	$ 3,447	$ 3,438
Amortizable intangible assets, Accumulated Amortization	(2,084)	(1,853)
Amortizable intangible assets, Net	1,363	1,585
Total intangible assets, Cost	3,644	3,652
Total intangible assets, Net	1,560	1,799
Trademarks and brands
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	197	214
Customer lists and relationships
Amortizable intangible assets:
Amortizable intangible assets, Cost	1,630	1,638
Amortizable intangible assets, Accumulated Amortization	(943)	(820)
Amortizable intangible assets, Net	687	818
Trademarks and brands
Amortizable intangible assets:
Amortizable intangible assets, Cost	724	707
Amortizable intangible assets, Accumulated Amortization	(298)	(249)
Amortizable intangible assets, Net	426	458
Patents and proprietary technology
Amortizable intangible assets:
Amortizable intangible assets, Cost	618	622
Amortizable intangible assets, Accumulated Amortization	(397)	(354)
Amortizable intangible assets, Net	221	268
Other
Amortizable intangible assets:
Amortizable intangible assets, Cost	475	471
Amortizable intangible assets, Accumulated Amortization	(446)	(430)
Amortizable intangible assets, Net	$ 29	$ 41

Goodwill and Intangible Asset82

Goodwill and Intangible Assets (Details 4) $ in Millions	Dec. 31, 2015USD ($)
Estimated amortization expense of intangible assets
2,016	$ 217
2,017	196
2,018	175
2,019	153
2,020	$ 134

Goodwill and Intangible Asset83

Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Goodwill and Intangible Assets (Textual) [Abstract]
Amortization of intangible assets			$ 231	$ 242	$ 250
Impairment charges			$ 0	0	0
Discontinued Operations
Goodwill and Intangible Assets (Textual) [Abstract]
Amortization of intangible assets					20
Impairment charges					42
Minimum
Goodwill and Intangible Assets (Textual) [Abstract]
Estimated useful lives of amortized intangible assets			3 years
Maximum
Goodwill and Intangible Assets (Textual) [Abstract]
Estimated useful lives of amortized intangible assets			20 years
Polymers and Fluids, Test and Measurement, and Electronics segments
Goodwill and Intangible Assets (Textual) [Abstract]
Impairment charges		$ 0
Intangible asset impairment		$ 3
Polymers and Fluids
Goodwill and Intangible Assets (Textual) [Abstract]
Impairment charges	$ 0
Intangible asset impairment	$ 2
Test & Measurement and Electronics
Goodwill and Intangible Assets (Textual) [Abstract]
Impairment charges			$ 0	$ 0	0
Intangible asset impairment					$ 2

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Summary of Other Assets
Cash surrender value of life insurance policies	$ 428	$ 418
Prepaid pension assets	191	165
Equity investment in Wilsonart	113	141
Investments	99	110
Customer tooling	88	96
Other	168	181
Other assets	$ 1,087	$ 1,111

Other Assets (Details Textual)

Other Assets (Details Textual) - New Accounting Pronouncement, Early Adoption, Effect - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Other Assets
New Accounting Pronouncement, Early Adoption [Line Items]
Deferred debt issuance costs	$ 0	$ (38)
Long-term Debt
New Accounting Pronouncement, Early Adoption [Line Items]
Deferred debt issuance costs		$ 38

Other Assets - Divestiture (Det

Other Assets - Divestiture (Details)	3 Months Ended
	Dec. 31, 2012
Decorative Surfaces
Schedule of Equity Method Investments [Line Items]
% of Decorative Surfaces segment that was divested	51.00%
Wilsonart International Holdings LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage in Wilsonart	49.00%
% of Preferred Units of Wilsonart	51.00%
Cumulative convertible participating preferred units | Wilsonart International Holdings LLC
Schedule of Equity Method Investments [Line Items]
Dividend rate for Preferred Units	10.00%

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accrued Expenses
Compensation and employee benefits	$ 363	$ 441
Deferred revenue and customer deposits	169	194
Rebates	125	128
Warranties	46	49
Current portion of pension and other postretirement benefit obligations	15	14
Other	418	461
Accrued expenses	1,136	1,287
Changes in Accrued Product Warranties
Beginning balance	49	50	$ 51
Charges	(37)	(41)	(44)
Provision charged to expense	36	43	43
Acquisitions and divestitures	0	0	2
Foreign currency translation	(2)	(3)	1
Transfer to liabilities held for sale	0	0	(3)
Ending balance	$ 46	$ 49	$ 50

Debt - Schedule of Short-Term D

Debt - Schedule of Short-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
Commercial paper	$ 498	$ 1,413
Bank overdrafts	25	62
Current maturities of long-term debt	1	1
Other borrowings	2	0
Total short-term debt	$ 526	$ 1,476

Debt - Short-Term Debt Narrativ

Debt - Short-Term Debt Narrative (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Short-term Debt [Line Items]
Long-term line of credit agreement	$ 2,500,000,000
Line of credit, amounts outstanding	0
Unused capacity under international debt facilities	$ 296,000,000
Commercial paper
Short-term Debt [Line Items]
Weighted average interest rate	0.10%	0.10%
Line of credit terminating June 8, 2017
Short-term Debt [Line Items]
Long-term line of credit agreement	$ 1,500,000,000
Line of credit terminating August 15, 2018
Short-term Debt [Line Items]
Long-term line of credit agreement	$ 1,000,000,000

Debt - Long-Term Debt Carrying

Debt - Long-Term Debt Carrying and Fair Values (Details) - USD ($) $ in Millions	Dec. 31, 2015	May. 31, 2015	Dec. 31, 2014	May. 31, 2014	Feb. 28, 2014	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2009	Dec. 31, 2005
Long-Term Debt
Long-term debt including current maturities, carrying value	$ 6,897		$ 5,944
Long-term debt including current maturities, fair value	7,153		6,431
Current maturities	(1)		(1)
Long-term debt excluding current maturities	6,896		5,943
Other borrowings
Long-Term Debt
Long-term debt including current maturities, carrying value	6		7
Long-term debt including current maturities, fair value	$ 6		$ 7
0.90% notes due February 25, 2017 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	0.90%		0.90%		0.90%
Long-Term Debt
Long-term debt including current maturities, carrying value	$ 649		$ 648
Long-term debt including current maturities, fair value	$ 649		$ 648
Effective interest rate	0.95%
1.95% notes due March 1, 2019 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	1.95%		1.95%		1.95%
Long-Term Debt
Long-term debt including current maturities, carrying value	$ 647		$ 647
Long-term debt including current maturities, fair value	$ 655		$ 651
Effective interest rate	1.98%
6.25% notes due April 1, 2019 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	6.25%		6.25%					6.25%
Long-Term Debt
Long-term debt including current maturities, carrying value	$ 698		$ 697
Long-term debt including current maturities, fair value	$ 790		$ 817
Effective interest rate	6.25%
4.88% notes due thru December 31, 2020 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	4.88%		4.88%						4.88%
Long-Term Debt
Long-term debt including current maturities, carrying value	$ 4		$ 5
Long-term debt including current maturities, fair value	$ 4		$ 6
Effective interest rate	4.96%
3.375% notes due September 15, 2021 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	3.375%		3.375%				3.375%
Long-Term Debt
Long-term debt including current maturities, carrying value	$ 347		$ 347
Long-term debt including current maturities, fair value	$ 362		$ 369
Effective interest rate	3.43%
1.75% Euro notes due May 20, 2022 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	1.75%		1.75%	1.75%
Long-Term Debt
Long-term debt including current maturities, carrying value	$ 536		$ 597
Long-term debt including current maturities, fair value	$ 564		640
Effective interest rate	1.86%
1.25% Euro notes due May 22, 2023 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	1.25%	1.25%
Long-Term Debt
Long-term debt including current maturities, carrying value	$ 536		0
Long-term debt including current maturities, fair value	$ 538		$ 0
Effective interest rate	1.35%
3.50% notes due March 1, 2024 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	3.50%		3.50%		3.50%
Long-Term Debt
Long-term debt including current maturities, carrying value	$ 695		$ 694
Long-term debt including current maturities, fair value	$ 727		735
Effective interest rate	3.54%
2.125% Euro notes due May 22, 3030 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	2.125%	2.125%
Long-Term Debt
Long-term debt including current maturities, carrying value	$ 536		0
Long-term debt including current maturities, fair value	$ 530		$ 0
Effective interest rate	2.18%
3.0% Euro notes due May 19, 2034 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	3.00%		3.00%	3.00%
Long-Term Debt
Long-term debt including current maturities, carrying value	$ 528		$ 588
Long-term debt including current maturities, fair value	$ 569		$ 702
Effective interest rate	3.13%
4.875% notes due September 15, 2041 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	4.875%		4.875%				4.875%
Long-Term Debt
Long-term debt including current maturities, carrying value	$ 635		$ 635
Long-term debt including current maturities, fair value	$ 708		$ 746
Effective interest rate	4.97%
3.9% notes due September 1, 2042 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	3.90%		3.90%			3.90%
Long-Term Debt
Long-term debt including current maturities, carrying value	$ 1,080		$ 1,079
Long-term debt including current maturities, fair value	$ 1,051		$ 1,110
Effective interest rate	3.96%

Debt - Long-Term Debt Narrative

Debt - Long-Term Debt Narrative (Details)	Dec. 31, 2015USD ($)	May. 31, 2015EUR (€)	Dec. 31, 2014USD ($)	May. 31, 2014EUR (€)	Feb. 28, 2014USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2011USD ($)	Dec. 31, 2009USD ($)	Dec. 31, 2007EUR (€)	Dec. 31, 2005USD ($)
4.88% notes due thru December 31, 2020 | Unsecured debt
Long-Term Debt (Textual) [Abstract]
Face value of notes										$ 54,000,000
Interest rate, stated percentage	4.88%		4.88%							4.88%
Percentage of face value of notes issued										100.00%
5.25% Euro notes due October 1, 2014 | Unsecured debt
Long-Term Debt (Textual) [Abstract]
Face value of notes | €									€ 750,000,000
Interest rate, stated percentage									5.25%
Percentage of face value of notes issued									99.874%
5.15% redeemable notes due April 1, 2014 | Unsecured debt
Long-Term Debt (Textual) [Abstract]
Face value of notes								$ 800,000,000
Interest rate, stated percentage								5.15%
Percentage of face value of notes issued								99.92%
6.25% notes due April 1, 2019 | Unsecured debt
Long-Term Debt (Textual) [Abstract]
Face value of notes								$ 700,000,000
Interest rate, stated percentage	6.25%		6.25%					6.25%
Percentage of face value of notes issued								99.98%
3.375% notes due September 15, 2021 | Unsecured debt
Long-Term Debt (Textual) [Abstract]
Face value of notes							$ 350,000,000
Interest rate, stated percentage	3.375%		3.375%				3.375%
Percentage of face value of notes issued							99.552%
4.875% notes due September 15, 2041 | Unsecured debt
Long-Term Debt (Textual) [Abstract]
Face value of notes							$ 650,000,000
Interest rate, stated percentage	4.875%		4.875%				4.875%
Percentage of face value of notes issued							98.539%
3.9% notes due September 1, 2042 | Unsecured debt
Long-Term Debt (Textual) [Abstract]
Face value of notes						$ 1,100,000,000
Interest rate, stated percentage	3.90%		3.90%			3.90%
Percentage of face value of notes issued						99.038%
0.90% notes due February 25, 2017 | Unsecured debt
Long-Term Debt (Textual) [Abstract]
Face value of notes					$ 650,000,000
Interest rate, stated percentage	0.90%		0.90%		0.90%
Percentage of face value of notes issued					99.861%
1.95% notes due March 1, 2019 | Unsecured debt
Long-Term Debt (Textual) [Abstract]
Face value of notes					$ 650,000,000
Interest rate, stated percentage	1.95%		1.95%		1.95%
Percentage of face value of notes issued					99.871%
3.50% notes due March 1, 2024 | Unsecured debt
Long-Term Debt (Textual) [Abstract]
Face value of notes					$ 700,000,000
Interest rate, stated percentage	3.50%		3.50%		3.50%
Percentage of face value of notes issued					99.648%
1.75% Euro notes due May 20, 2022 | Unsecured debt
Long-Term Debt (Textual) [Abstract]
Face value of notes | €				€ 500,000,000
Interest rate, stated percentage	1.75%		1.75%	1.75%
Percentage of face value of notes issued				99.16%
3.0% Euro notes due May 19, 2034 | Unsecured debt
Long-Term Debt (Textual) [Abstract]
Face value of notes | €				€ 500,000,000
Interest rate, stated percentage	3.00%		3.00%	3.00%
Percentage of face value of notes issued				98.089%
1.25% Euro notes due May 22, 2023 | Unsecured debt
Long-Term Debt (Textual) [Abstract]
Face value of notes | €		€ 500,000,000
Interest rate, stated percentage	1.25%	1.25%
Percentage of face value of notes issued		99.239%
2.125% Euro notes due May 22, 3030 | Unsecured debt
Long-Term Debt (Textual) [Abstract]
Face value of notes | €		€ 500,000,000
Interest rate, stated percentage	2.125%	2.125%
Percentage of face value of notes issued		99.303%
Net investment hedging | Unsecured debt
Long-Term Debt (Textual) [Abstract]
Face value of notes | €		€ 1,000,000,000		€ 1,000,000,000
Other Assets | New Accounting Pronouncement, Early Adoption, Effect
Line of Credit Facility [Line Items]
Deferred debt issuance costs	$ 0		$ (38,000,000)
Long-term Debt | New Accounting Pronouncement, Early Adoption, Effect
Line of Credit Facility [Line Items]
Deferred debt issuance costs			$ 38,000,000

Debt - Maturities of Long-Term

Debt - Maturities of Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Scheduled maturities of long-term debt
2,016	$ 1
2,017	649
2,018	0
2,019	1,346
2,020	4
2021 and future years	4,897
Long-term debt including current maturities, carrying value	$ 6,897	$ 5,944

Pension and Other Postretirem93

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Components of net periodic benefit cost:
Income from continuing operations	$ 450	$ 511	$ 480	$ 458	$ 461	$ 507	$ 494	$ 428	$ 1,899	$ 1,890	$ 1,630
Income from Discontinued Operations	0	0	0	0	(11)	24	998	45	0	1,056	49
Net income	$ 450	$ 511	$ 480	$ 458	$ 450	$ 531	$ 1,492	$ 473	1,899	2,946	1,679
Pension
Components of net periodic benefit cost:
Service cost									70	80	87
Interest cost									92	103	100
Expected return on plan assets									(151)	(159)	(157)
Amortization of actuarial (gain) loss									60	48	65
Amortization of prior service cost									1	1	0
Settlement/curtailment (gain) loss									0	1	49
Net periodic benefit cost (income)									72	74	144
Income from continuing operations									72	69	131
Income from Discontinued Operations									0	5	13
Net income									72	74	144
Other Postretirement Benefits
Components of net periodic benefit cost:
Service cost									11	10	12
Interest cost									24	24	24
Expected return on plan assets									(25)	(25)	(22)
Amortization of actuarial (gain) loss									(1)	(4)	1
Amortization of prior service cost									1	1	1
Settlement/curtailment (gain) loss									0	(9)	0
Net periodic benefit cost (income)									10	(3)	16
Income from continuing operations									10	6	14
Income from Discontinued Operations									0	(9)	2
Net income									$ 10	$ (3)	$ 16

Pension and Other Postretirem94

Pension and Other Postretirement Benefits (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension
Change in benefit obligation:
Benefit obligation at January 1	$ 2,607	$ 2,545
Service cost	70	80	$ 87
Interest cost	92	103	100
Plan participants’ contributions	3	3
Amendments	1	(5)
Actuarial (gain) loss	(82)	240
Acquisitions and divestitures	0	(97)
Benefits paid	(169)	(192)
Medicare subsidy received	0	0
Settlement/curtailment (gain) loss	0	(2)
Foreign currency translation	(60)	(68)
Benefit obligation at December 31	2,462	2,607	2,545
Other Postretirement Benefits
Change in benefit obligation:
Benefit obligation at January 1	591	519
Service cost	11	10	12
Interest cost	24	24	24
Plan participants’ contributions	13	13
Amendments	0	0
Actuarial (gain) loss	(43)	97
Acquisitions and divestitures	0	(18)
Benefits paid	(46)	(46)
Medicare subsidy received	2	2
Settlement/curtailment (gain) loss	0	(10)
Foreign currency translation	0	0
Benefit obligation at December 31	$ 552	$ 591	$ 519

Pension and Other Postretirem95

Pension and Other Postretirement Benefits (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
The amounts recognized in the statement of financial position as of December 31 consist of:
Accrued expenses	$ (15)	$ (14)
Pension
Change in plan assets:
Fair value of plan assets at January 1	2,557	2,487
Actual return on plan assets	16	264
Company contributions	97	127
Plan participants’ contributions	3	3
Acquisitions/divestitures	0	(65)
Benefits paid	(169)	(192)
Foreign currency translation	(63)	(67)
Fair value of plan assets at December 31	2,441	2,557
Funded status
Funded status	(21)	(50)
Other immaterial plans	(50)	(52)
Net liability at December 31	(71)	(102)
The amounts recognized in the statement of financial position as of December 31 consist of:
Net liability at end of year	(71)	(102)
The pre-tax amounts recognized in accumulated other comprehensive income consist of:
Net actuarial (gain) loss	631	638
Prior service cost	0	1
Net loss, prior service cost and net transaction obligation, total	631	639
Accumulated benefit obligation	2,297	2,361
Plans with accumulated benefit obligation in excess of plan assets as of December 31:
Projected benefit obligation	164	168
Accumulated benefit obligation	152	154
Fair value of plan assets	25	26
Other Postretirement Benefits
Change in plan assets:
Fair value of plan assets at January 1	372	370
Actual return on plan assets	(3)	28
Company contributions	6	7
Plan participants’ contributions	13	13
Acquisitions/divestitures	0	0
Benefits paid	(46)	(46)
Foreign currency translation	0	0
Fair value of plan assets at December 31	342	372
Funded status
Funded status	(210)	(219)
Other immaterial plans	(5)	(5)
Net liability at December 31	(215)	(224)
The amounts recognized in the statement of financial position as of December 31 consist of:
Net liability at end of year	(215)	(224)
The pre-tax amounts recognized in accumulated other comprehensive income consist of:
Net actuarial (gain) loss	(20)	(6)
Prior service cost	(1)	(1)
Net loss, prior service cost and net transaction obligation, total	(21)	(7)
Other assets | Pension
The amounts recognized in the statement of financial position as of December 31 consist of:
Other assets	191	165
Other assets | Other Postretirement Benefits
The amounts recognized in the statement of financial position as of December 31 consist of:
Other assets	0	0
Accrued expenses | Pension
The amounts recognized in the statement of financial position as of December 31 consist of:
Accrued expenses	(11)	(10)
Accrued expenses | Other Postretirement Benefits
The amounts recognized in the statement of financial position as of December 31 consist of:
Accrued expenses	(4)	(4)
Other noncurrent liabilities | Pension
The amounts recognized in the statement of financial position as of December 31 consist of:
Other noncurrent liabilities	(251)	(257)
Other noncurrent liabilities | Other Postretirement Benefits
The amounts recognized in the statement of financial position as of December 31 consist of:
Other noncurrent liabilities	$ (211)	$ (220)

Pension and Other Postretirem96

Pension and Other Postretirement Benefits (Details 3) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Postretirement benefit obligation
Health care cost trend rate assumed for the next year	6.00%	8.00%	8.00%
Ultimate trend rate	4.50%	4.50%	5.00%
Year the rate reaches the ultimate trend rate	2,021	2,022	2,020
One-percentage-point change in assumed health care cost trend rates
1-Percentage-Point Increase - Change in service cost and interest cost	$ 0
1-Percentage-Point Decrease - Change in service cost and interest cost	(1)
1-Percentage-Point Increase - Change in postretirement benefit obligation	7
1-Percentage-Point Decrease - Change in postretirement benefit obligation	$ (14)
Pension
Assumptions used to determine benefit obligations at December 31:
Discount rate	3.95%	3.70%	4.32%
Rate of compensation increases	3.72%	3.72%	3.72%
Assumptions used to determine net periodic benefit cost for years ended December 31:
Discount rate	3.70%	4.32%	3.85%
Expected return on plan assets	6.54%	7.02%	7.28%
Rate of compensation increases	3.72%	3.72%	3.86%
Other Postretirement Benefits
Assumptions used to determine benefit obligations at December 31:
Discount rate	4.55%	4.15%	4.95%
Rate of compensation increases	0.00%	0.00%	0.00%
Assumptions used to determine net periodic benefit cost for years ended December 31:
Discount rate	4.15%	4.95%	4.15%
Expected return on plan assets	7.00%	7.00%	7.00%
Rate of compensation increases	0.00%	0.00%	0.00%

Pension and Other Postretirem97

Pension and Other Postretirement Benefits (Details 4) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	$ 2,441	$ 2,557	$ 2,487
Other Postretirement Benefits
Defined benefit plan assets for plan benefits
Fair value of plan assets	342	372	$ 370
Cash and equivalents | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	53	164
Cash and equivalents | Pension | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets	53	164
Cash and equivalents | Pension | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Cash and equivalents | Pension | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Cash and equivalents | Other Postretirement Benefits
Defined benefit plan assets for plan benefits
Fair value of plan assets	8	11
Cash and equivalents | Other Postretirement Benefits | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets	8	11
Cash and equivalents | Other Postretirement Benefits | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Cash and equivalents | Other Postretirement Benefits | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Equity securities, domestic | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	1	1
Equity securities, domestic | Pension | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets	1	1
Equity securities, domestic | Pension | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Equity securities, domestic | Pension | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Equity securities, foreign | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	62	72
Equity securities, foreign | Pension | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets	62	72
Equity securities, foreign | Pension | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Equity securities, foreign | Pension | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Fixed income securities, government securities | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	285	286
Fixed income securities, government securities | Pension | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Fixed income securities, government securities | Pension | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets	285	286
Fixed income securities, government securities | Pension | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Fixed income securities, corporate debt securities | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	483	378
Fixed income securities, corporate debt securities | Pension | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Fixed income securities, corporate debt securities | Pension | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets	483	378
Fixed income securities, corporate debt securities | Pension | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Fixed income securities, mortgage-backed securities | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets		8
Fixed income securities, mortgage-backed securities | Pension | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets		0
Fixed income securities, mortgage-backed securities | Pension | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets		8
Fixed income securities, mortgage-backed securities | Pension | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets		0
Fixed income securities, investment contracts with insurance companies | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	1	1
Fixed income securities, investment contracts with insurance companies | Pension | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Fixed income securities, investment contracts with insurance companies | Pension | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Fixed income securities, investment contracts with insurance companies | Pension | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets	1	1
Mutual funds | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	145	317
Mutual funds | Pension | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets	145	317
Mutual funds | Pension | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Mutual funds | Pension | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Collective trust funds | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	1,347	1,252
Partnerships/private equity interests | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	66	77
Other | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	(2)	1
Other | Pension | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Other | Pension | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets	(2)	0
Other | Pension | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	1
Pension plan assets net | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	2,441	2,557
Pension plan assets net | Pension | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets	261	554
Pension plan assets net | Pension | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets	766	672
Pension plan assets net | Pension | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets	1	2
Other Postretirement Benefit Plan Assets: | Other Postretirement Benefits
Defined benefit plan assets for plan benefits
Fair value of plan assets	342	372
Other Postretirement Benefit Plan Assets: | Other Postretirement Benefits | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets	8	11
Other Postretirement Benefit Plan Assets: | Other Postretirement Benefits | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Other Postretirement Benefit Plan Assets: | Other Postretirement Benefits | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Life insurance policies | Other Postretirement Benefits
Defined benefit plan assets for plan benefits
Fair value of plan assets	$ 334	$ 361

Pension and Other Postretirem98

Pension and Other Postretirement Benefits (Details 5) $ in Millions	Dec. 31, 2015USD ($)
Pension
Portion of the benefit payments are expected to be paid
2,016	$ 173
2,017	176
2,018	178
2,019	180
2,020	178
Years 2021-2025	872
Other Postretirement Benefits
Portion of the benefit payments are expected to be paid
2,016	35
2,017	37
2,018	38
2,019	39
2,020	39
Years 2021-2025	$ 199

Pension and Other Postretirem99

Pension and Other Postretirement Benefits (Details Textual) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Jun. 30, 2014	Sep. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan expenses			$ 77	$ 78	$ 72
Pension
Defined Benefit Plan Disclosure [Line Items]
Pension settlement charge related to exit of employees from plan			0	1	49
Increase in actuarial loss				76
Fair value of plan assets			2,441	2,557	2,487
Expected current year contributions for pension and other postretirement plans			73
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Pension settlement charge related to exit of employees from plan			0	(9)	0
Curtailment gain (loss)	$ 9
Increase in actuarial loss				46
Fair value of plan assets			342	372	370
Expected current year contributions for pension and other postretirement plans			$ 5
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan assets in equity securities, minimum			30.00%
Target allocation for plan assets in equity securities, maximum			50.00%
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan assets in equity securities, minimum			45.00%
Target allocation for plan assets in equity securities, maximum			60.00%
Other plan assets
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan assets in equity securities, minimum			0.00%
Target allocation for plan assets in equity securities, maximum			10.00%
Other plan assets | Pension
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			$ (2)	1
Decorative Surfaces | Pension
Defined Benefit Plan Disclosure [Line Items]
Pension settlement charge related to exit of employees from plan					$ 45
Industrial Packaging | Pension
Defined Benefit Plan Disclosure [Line Items]
Curtailment gain (loss)		$ (2)
New Accounting Pronouncement, Early Adoption, Effect
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				$ 1,700

Other Noncurrent Liabilities (D

Other Noncurrent Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Other Noncurrent Liabilities
Pension benefit obligation	$ 251	$ 257
Postretirement benefit obligation	211	220
Other	519	525
Other noncurrent liabilities	$ 981	$ 1,002

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Summary of Common Stock, Additional Paid in Capital and Common Stock Held in Treasury
Shares issued for stock options, shares	1.2
Common Stock
Summary of Common Stock, Additional Paid in Capital and Common Stock Held in Treasury
Beginning Balance, shares	550	550	549.6
Beginning Balance, amount	$ 6	$ 6	$ 5
Shares issued for stock options, shares			0.4
Shares issued for stock options, amount			$ 1
Ending Balance, shares	550	550	550
Ending Balance, amount	$ 6	$ 6	$ 6
Authorized Ending Balance	700
Additional Paid-in Capital
Summary of Common Stock, Additional Paid in Capital and Common Stock Held in Treasury
Beginning Balance, amount	$ 1,096	1,046	1,012
Shares issued for stock options, amount	(2)		9
Shares issued for stock compensation and vesting of restricted stock, amount	(19)	(26)	(28)
Stock compensation expense	39	39	36
Noncontrolling interest	(2)		(8)
Tax benefits related to stock options	20	33	23
Tax benefits related to defined contribution plans	3	4	2
Ending Balance, amount	$ 1,135	$ 1,096	$ 1,046
Common Stock Held in Treasury
Summary of Common Stock, Additional Paid in Capital and Common Stock Held in Treasury
Beginning Balance, shares	166.8	119.8	94.5
Beginning Balance, amount	$ (10,798)	$ (6,676)	$ (4,722)
Shares issued for stock options, shares	1.2	3	4
Shares issued for stock options, amount	$ 61	$ 148	$ 198
Shares withheld for taxes, shares	(0.1)	(0.1)	(0.2)
Shares withheld for Taxes, Value	$ (11)	$ (14)	$ (11)
Shares issued for stock compensation and vesting of restricted stock, shares	0.4	0.5	0.6
Shares issued for stock compensation and vesting of restricted stock, amount	$ 19	$ 26	$ 28
Stock compensation expense	2	0	1
Tax benefits related to defined contribution plans	$ 0	$ 1	$ 0
Repurchases of common stock, shares	(21)	(50.4)	(29.7)
Repurchases of common stock, amount	$ (2,002)	$ (4,283)	$ (2,170)
Ending Balance, shares	186.3	166.8	119.8
Ending Balance, amount	$ (12,729)	$ (10,798)	$ (6,676)

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ (658)	$ 384	$ 293
Ending balance	(1,504)	(658)	384
Accumulated Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Foreign currency translation adjustments during the period	(800)	(806)	(200)
Foreign currency translation adjustments reclassified to income	0	(133)	7
Income taxes	(60)	0	0
Total adjustments	(860)	(939)	(193)
Accumulated Defined Benefit Plans Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Pension and other postretirement benefit adjustments during the period	(41)	(224)	327
Pension and other postretirement benefit adjustments reclassified to income	61	54	122
Income taxes	(6)	67	(165)
Total adjustments	$ 14	$ (103)	$ 284

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) $ / shares in Units, € in Billions	1 Months Ended	12 Months Ended
	Dec. 31, 2012$ / shares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)$ / sharesshares	Dec. 31, 2012$ / sharesshares	Dec. 31, 2011$ / sharesshares	May. 31, 2015EUR (€)	Feb. 13, 2015USD ($)	May. 31, 2014EUR (€)	Aug. 02, 2013USD ($)	May. 06, 2011USD ($)
Shareholders Equity (Textual) [Abstract]
Preferred stock, shares authorized | shares		300,000
Common stock, par value | $ / shares		$ 0.01
Cash dividend declared per share | $ / shares		2.07	$ 1.81	$ 1.60
Cash dividend paid per share | $ / shares		$ 2.005	$ 1.745	$ 1.18
Accelerated cash dividends per share | $ / shares	$ 0.38
Cumulative translation adjustment (gains) losses included in accumulated comprehensive income		$ 1,100,000,000	$ 265,000,000
Unrecognized pension and other postretirement benefits costs included in accumulated comprehensive income		379,000,000	$ 393,000,000
Estimated unrecognized benefit cost that will be amortized from accumulated other comprehensive income into net periodic benefit cost in 2016		$ 43,000,000
2011 Program
Shareholders Equity (Textual) [Abstract]
Stock repurchase program, authorized amount											$ 4,000,000,000
Shares repurchased | shares				26,400,000	35,500,000	1,800,000
Shares repurchased average price | $ / shares				$ 71.89	$ 56.93	$ 43.20
Authorized repurchases remaining under the repurchase program				$ 0
2013 Program
Shareholders Equity (Textual) [Abstract]
Stock repurchase program, authorized amount										$ 6,000,000,000
Shares repurchased | shares		14,900,000	50,400,000	3,300,000
Shares repurchased average price | $ / shares		$ 96.84	$ 84.92	$ 81.62
Authorized repurchases remaining under the repurchase program		$ 0
2015 Program
Shareholders Equity (Textual) [Abstract]
Stock repurchase program, authorized amount								$ 6,000,000,000
Shares repurchased | shares		6,100,000
Shares repurchased average price | $ / shares		$ 91.78
Authorized repurchases remaining under the repurchase program		$ 5,400,000,000
Accumulated Defined Benefit Plans Adjustment
Shareholders Equity (Textual) [Abstract]
Pension and other postretirement benefit adjustments reclassified to income		(61,000,000)	$ (54,000,000)	$ (122,000,000)
Discontinued Operations | Accumulated Defined Benefit Plans Adjustment
Shareholders Equity (Textual) [Abstract]
Pension and other postretirement benefit adjustments reclassified to income			6,000,000	$ 6,000,000
Net investment hedging
Shareholders Equity (Textual) [Abstract]
Cumulative translation adjustment (gains) losses included in accumulated comprehensive income		$ (308,000,000)	$ (158,000,000)
Euro notes, issued 2015 | Net investment hedging | Euro notes
Shareholders Equity (Textual) [Abstract]
Debt Instrument, Face Amount | €							€ 1
Euro notes, issued 2014 | Net investment hedging | Euro notes
Shareholders Equity (Textual) [Abstract]
Debt Instrument, Face Amount | €									€ 1

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Summary of stock-based compensation expense
Pre-tax compensation expense	$ 35	$ 34	$ 30
Tax benefit	(12)	(12)	(10)
Total stock-based compensation expense, net of tax	$ 23	$ 22	$ 20

Stock-Based Compensation (De105

Stock-Based Compensation (Details 1) shares in Millions	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Summary of activity related to non-vested restricted stock units
Number of Shares, Unvested, January 1, 2015 | shares	1
Number of Shares, Granted | shares	0.3
Number of Shares, Vested | shares	(0.4)
Number of Shares, Canceled | shares	(0.1)
Number of Shares, Unvested, December 31, 2015 | shares	0.8
Weighted average grant date fair value related to non-vested restricted stock units
Weighted-Average Grant-Date Fair Value, Unvested, January 1, 2015 | $ / shares	$ 60.68
Weighted Average Grant Date Fair Value, Granted | $ / shares	92.44
Weighted Average Grant Date Fair Value, Vested | $ / shares	52.11
Weighted Average Grant Date Fair Value, Canceled | $ / shares	70.96
Weighted-Average Grant-Date Fair Value, Unvested, December 31, 2015 | $ / shares	$ 73.58

Stock-Based Compensation (De106

Stock-Based Compensation (Details 2) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Option Activity [Roll Forward]
Number of Shares, Under option, January 1, 2015 | shares	7.1
Number of Shares, Granted | shares	0.6
Number of Shares, Exercised | shares	(1.2)
Number of Shares, Canceled or expired | shares	(0.1)
Number of Shares, Under option, December 31, 2015 | shares	6.4
Options Weighted Average Exercise Price [Roll Forward]
Weighted-Average Exercise Price, Under option, January 1, 2015 | $ / shares	$ 56.25
Weighted-Average Exercise Price, Granted | $ / shares	98.26
Weighted-Average Exercise Price, Exercised | $ / shares	49.41
Weighted-Average Exercise Price, Canceled or expired | $ / shares	71.41
Weighted-Average Exercise Price, Under option, December 31, 2015 | $ / shares	$ 61.44
Number of Shares, Exercisable, December 31, 2015 | shares	4.5
Weighted-Average Exercise Price, Exercisable, December 31, 2015 | $ / shares	$ 54.19
Weighted-Average Remaining Contractual Term, Under option, December 31, 2015	5 years 8 months
Weighted-Average Remaining Contractual Term, Exercisable, December 31, 2015	4 years 8 months
Aggregate Intrinsic Value, Under option, December 31, 2015 | $	$ 201
Aggregate Intrinsic Value, Exercisable, December 31, 2015 | $	$ 175

Stock-Based Compensation (De107

Stock-Based Compensation (Details 3)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Summary of assumptions used in option models
Risk-free interest rate, minimum	0.23%	0.16%	0.20%
Risk-free interest rate, maximum	2.25%	2.83%	2.90%
Weighted-average volatility	23.00%	22.90%	21.10%
Dividend yield	2.11%	2.46%	2.72%
Minimum
Summary of assumptions used in option models
Expected years until exercise	6 years 10 months 25 days	6 years 8 months 12 days	6 years 7 months 6 days
Maximum
Summary of assumptions used in option models
Expected years until exercise	8 years	7 years 10 months 24 days	7 years 7 months 6 days

Stock-Based Compensation (De108

Stock-Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance under ITW's Long-Term Incentive Plan	17,000,000
Pre-tax stock-based compensation expense	$ 35	$ 34	$ 30
Number of shares for each vested RSU or PRSU award	1
Weighted-average grant-date fair value of options granted	$ 20.58	$ 15.14	$ 10.06
Aggregate intrinsic value of options exercised	$ 55	$ 115	$ 108
Cash receipts from exercise of options	59	148	206
Total fair value of vested stock option awards	13	16	16
Total fair value of vested restricted stock unit awards	$ 20	27	23
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award expiration period	10 years
Total unrecognized compensation cost related to non-vested stock awards	$ 12
Weighted-average period (years) to recognize total unrecognized compensation cost	1 year 8 months
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to non-vested stock awards	$ 18
Weighted-average period (years) to recognize total unrecognized compensation cost	1 year 6 months
Periodic Vesting | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Cliff Vesting | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Cliff Vesting | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Discontinued Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation expense		$ 5	$ 6

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating revenue:
Operating Revenues by Operating Segment	$ 3,275	$ 3,354	$ 3,434	$ 3,342	$ 3,504	$ 3,692	$ 3,719	$ 3,569	$ 13,405	$ 14,484	$ 14,135
Operating income:
Operating income	679	$ 761	$ 730	$ 697	686	$ 772	$ 763	$ 667	2,867	2,888	2,514
Depreciation and amortization and impairment of goodwill and intangible assets:
Depreciation and amortization and impairment of goodwill and intangible assets									477	507	613
Plant and equipment additions:
Plant and equipment additions									284	361	368
Identifiable assets:
Identifiable assets	15,729				17,465				15,729	17,465	19,599
Discontinued Operations
Depreciation and amortization and impairment of goodwill and intangible assets:
Depreciation and amortization and impairment of goodwill and intangible assets									0	0	91
Plant and equipment additions:
Plant and equipment additions									0	3	31
Operating segments
Operating income:
Operating income									2,938	2,958	2,641
Depreciation and amortization and impairment of goodwill and intangible assets:
Depreciation and amortization and impairment of goodwill and intangible assets									477	507	522
Plant and equipment additions:
Plant and equipment additions									284	358	337
Identifiable assets:
Identifiable assets	10,490				11,375				10,490	11,375	12,131
Operating segments | Automotive OEM
Operating revenue:
Operating Revenues by Operating Segment									2,529	2,590	2,396
Operating income:
Operating income									613	600	490
Depreciation and amortization and impairment of goodwill and intangible assets:
Depreciation and amortization and impairment of goodwill and intangible assets									76	79	80
Plant and equipment additions:
Plant and equipment additions									106	96	119
Identifiable assets:
Identifiable assets	1,419				1,454				1,419	1,454	1,571
Operating segments | Test & Measurement and Electronics
Operating revenue:
Operating Revenues by Operating Segment									1,969	2,204	2,176
Operating income:
Operating income									322	340	321
Depreciation and amortization and impairment of goodwill and intangible assets:
Depreciation and amortization and impairment of goodwill and intangible assets									110	115	119
Plant and equipment additions:
Plant and equipment additions									32	56	39
Identifiable assets:
Identifiable assets	2,448				2,615				2,448	2,615	2,772
Operating segments | Food Equipment
Operating revenue:
Operating Revenues by Operating Segment									2,096	2,177	2,047
Operating income:
Operating income									498	453	385
Depreciation and amortization and impairment of goodwill and intangible assets:
Depreciation and amortization and impairment of goodwill and intangible assets									48	52	50
Plant and equipment additions:
Plant and equipment additions									37	47	37
Identifiable assets:
Identifiable assets	1,054				1,123				1,054	1,123	1,184
Operating segments | Polymers & Fluids
Operating revenue:
Operating Revenues by Operating Segment									1,712	1,927	1,993
Operating income:
Operating income									335	357	335
Depreciation and amortization and impairment of goodwill and intangible assets:
Depreciation and amortization and impairment of goodwill and intangible assets									95	99	103
Plant and equipment additions:
Plant and equipment additions									20	28	28
Identifiable assets:
Identifiable assets	2,034				2,257				2,034	2,257	2,420
Operating segments | Welding
Operating revenue:
Operating Revenues by Operating Segment									1,650	1,850	1,837
Operating income:
Operating income									415	479	464
Depreciation and amortization and impairment of goodwill and intangible assets:
Depreciation and amortization and impairment of goodwill and intangible assets									37	38	37
Plant and equipment additions:
Plant and equipment additions									23	36	35
Identifiable assets:
Identifiable assets	747				879				747	879	936
Operating segments | Construction Products
Operating revenue:
Operating Revenues by Operating Segment									1,587	1,707	1,717
Operating income:
Operating income									316	289	238
Depreciation and amortization and impairment of goodwill and intangible assets:
Depreciation and amortization and impairment of goodwill and intangible assets									36	43	49
Plant and equipment additions:
Plant and equipment additions									26	41	32
Identifiable assets:
Identifiable assets	1,129				1,249				1,129	1,249	1,309
Operating segments | Specialty Products
Operating revenue:
Operating Revenues by Operating Segment									1,885	2,055	2,007
Operating income:
Operating income									439	440	408
Depreciation and amortization and impairment of goodwill and intangible assets:
Depreciation and amortization and impairment of goodwill and intangible assets									75	81	84
Plant and equipment additions:
Plant and equipment additions									40	54	47
Identifiable assets:
Identifiable assets	1,659				1,798				1,659	1,798	1,939
Intersegment revenue | Intersegment revenue
Operating revenue:
Operating Revenues by Operating Segment									(23)	(26)	(38)
Segment Reconciling Items
Operating income:
Operating income									(71)	(70)	(127)
Segment Reconciling Items | Discontinued Operations
Identifiable assets:
Identifiable assets	0				0				0	0	1,836
Corporate
Identifiable assets:
Identifiable assets	$ 5,239				$ 6,090				$ 5,239	$ 6,090	$ 5,632

Segment Information (Details 1)

Segment Information (Details 1) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating Revenue by Geographic Region:
Operating Revenues by Operating Segment	$ 3,275	$ 3,354	$ 3,434	$ 3,342	$ 3,504	$ 3,692	$ 3,719	$ 3,569	$ 13,405	$ 14,484	$ 14,135
United States
Operating Revenue by Geographic Region:
Operating Revenues by Operating Segment									6,167	6,191	6,030
Canada/Mexico
Operating Revenue by Geographic Region:
Operating Revenues by Operating Segment									928	993	973
Total North America
Operating Revenue by Geographic Region:
Operating Revenues by Operating Segment									7,095	7,184	7,003
Europe, Middle East and Africa
Operating Revenue by Geographic Region:
Operating Revenues by Operating Segment									3,725	4,319	4,162
Asia Pacific
Operating Revenue by Geographic Region:
Operating Revenues by Operating Segment									2,197	2,427	2,366
South America
Operating Revenue by Geographic Region:
Operating Revenues by Operating Segment									$ 388	$ 554	$ 604

Segment Information (Details Te

Segment Information (Details Textual) - Segment	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting [Abstract]
Number of external reportable segments	7
Percentage of consolidated revenues not exceeded by any single customer	5.00%	5.00%	5.00%

Quarterly and Common Stock D112

Quarterly and Common Stock Data - Quarterly Data (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Operating Revenue	$ 3,275	$ 3,354	$ 3,434	$ 3,342	$ 3,504	$ 3,692	$ 3,719	$ 3,569	$ 13,405	$ 14,484	$ 14,135
Cost of revenue	1,941	1,953	2,024	1,970	2,114	2,182	2,219	2,158	7,888	8,673	8,554
Operating income	679	761	730	697	686	772	763	667	2,867	2,888	2,514
Income from continuing operations	450	511	480	458	461	507	494	428	1,899	1,890	1,630
Income (loss) from discontinued operations	0	0	0	0	(11)	24	998	45	0	1,056	49
Net income	$ 450	$ 511	$ 480	$ 458	$ 450	$ 531	$ 1,492	$ 473	$ 1,899	$ 2,946	$ 1,679
Income per share from continuing operations:
Basic (in dollars per share)	$ 1.24	$ 1.40	$ 1.31	$ 1.22	$ 1.19	$ 1.29	$ 1.22	$ 1.01	$ 5.16	$ 4.70	$ 3.65
Diluted (in dollars per share)	1.23	1.39	1.30	1.21	1.18	1.28	1.21	1.01	5.13	4.67	3.63
Net Income Per Share:
Basic (in dollars per share)	1.24	1.40	1.31	1.22	1.17	1.35	3.69	1.12	5.16	7.33	3.76
Diluted (in dollars per share)	$ 1.23	$ 1.39	$ 1.30	$ 1.21	$ 1.16	$ 1.34	$ 3.66	$ 1.11	$ 5.13	$ 7.28	$ 3.74

Quarterly and Common Stock D113

Quarterly and Common Stock Data - Narrative (Details) - Industrial Packaging - Industrial Packaging $ / shares in Units, $ in Billions	3 Months Ended
	Jun. 30, 2014USD ($)$ / shares
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
After-tax gain | $	$ 1.1
After-tax gain, per diluted share (in USD per share) | $ / shares	$ 2.82