Illinois Tool Works (ITW) 10-K 10 Feb 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2016	Jan. 31, 2017	Jun. 30, 2016
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, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		346,550,685
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 30.4

Statement of Income

Statement of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Operating Revenue	$ 13,599	$ 13,405	$ 14,484
Cost of revenue	7,896	7,888	8,673
Selling, administrative, and research and development expenses	2,415	2,417	2,678
Amortization and impairment of intangible assets	224	233	245
Operating Income	3,064	2,867	2,888
Interest expense	(237)	(226)	(250)
Other income (expense)	81	78	61
Income from Continuing Operations Before Income Taxes	2,908	2,719	2,699
Income taxes	873	820	809
Income from Continuing Operations	2,035	1,899	1,890
Income from Discontinued Operations	0	0	1,056
Net Income	$ 2,035	$ 1,899	$ 2,946
Income Per Share from Continuing Operations:
Basic (in dollars per share)	$ 5.73	$ 5.16	$ 4.70
Diluted (in dollars per share)	5.70	5.13	4.67
Income Per Share from Discontinued Operations:
Basic (in dollars per share)	0	0	2.63
Diluted (in dollars per share)	0	0	2.61
Net Income Per Share:
Basic (in dollars per share)	5.73	5.16	7.33
Diluted (in dollars per share)	$ 5.70	$ 5.13	$ 7.28

Statement of Comprehensive Inco

Statement of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 2,035	$ 1,899	$ 2,946
Other Comprehensive Income (Loss):
Foreign currency translation adjustments, net of tax	(277)	(860)	(939)
Pension and other postretirement benefit adjustments, net of tax	(26)	14	(103)
Comprehensive Income	$ 1,732	$ 1,053	$ 1,904

Statement of Financial Position

Statement of Financial Position - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Current Assets:
Cash and equivalents	$ 2,472	$ 3,090
Trade receivables	2,357	2,203
Inventories	1,076	1,086
Prepaid expenses and other current assets	218	341
Total current assets	6,123	6,720
Net plant and equipment	1,652	1,577
Goodwill	4,558	4,439
Intangible assets	1,463	1,560
Deferred income taxes	449	346
Other assets	956	1,087
Total Assets	15,201	15,729
Current Liabilities:
Short-term debt	652	526
Accounts payable	511	449
Accrued expenses	1,202	1,136
Cash dividends payable	226	200
Income taxes payable	169	57
Total current liabilities	2,760	2,368
Noncurrent Liabilities:
Long-term debt	7,177	6,896
Deferred income taxes	134	256
Other liabilities	871	981
Total noncurrent liabilities	8,182	8,133
Stockholders’ Equity:
Common stock	6	6
Additional paid-in-capital	1,188	1,135
Retained earnings	19,505	18,316
Common stock held in treasury	(14,638)	(12,729)
Accumulated other comprehensive income (loss)	(1,807)	(1,504)
Noncontrolling interest	5	4
Total stockholders’ equity	4,259	5,228
Total liabilities and stockholders' equity	$ 15,201	$ 15,729

Statement of Financial Positio5

Statement of Financial Position Statement of Financial Position - Parenthetical - $ / shares shares in Millions	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock issued (in shares)	550	550
Common stock outstanding (in shares)	346.9	363.7

Statement of Changes in Stockho

Statement of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Common Stock Held in Treasury	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest
Beginning balance at Dec. 31, 2013	$ 9,709	$ 6	$ 1,046	$ 14,943	$ (6,676)	$ 384	$ 6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,946			2,946
Common stock issued for share-based awards	134		(26)		160
Stock-based compensation expense	39		39
Tax benefits related to stock options	33		33
Tax benefits related to defined contribution plans	5		4		1
Repurchases of common stock	(4,283)				(4,283)
Dividends declared	(716)			(716)
Pension and other postretirement benefit adjustments	(103)					(103)
Currency translation adjustment	(939)					(939)
Noncontrolling interest	(1)						(1)
Ending balance at Dec. 31, 2014	6,824	6	1,096	17,173	(10,798)	(658)	5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,899			1,899
Common stock issued for share-based awards	48		(21)		69
Stock-based compensation expense	41		39		2
Tax benefits related to stock options	20		20
Tax benefits related to defined contribution plans	3		3
Repurchases of common stock	(2,002)				(2,002)
Dividends declared	(756)			(756)
Pension and other postretirement benefit adjustments	14					14
Currency translation adjustment	(860)					(860)
Noncontrolling interest	(3)		(2)				(1)
Ending balance at Dec. 31, 2015	5,228	6	1,135	18,316	(12,729)	(1,504)	4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,035			2,035
Common stock issued for share-based awards	73		(18)		91
Stock-based compensation expense	39		39
Tax benefits related to stock options	29		29
Tax benefits related to defined contribution plans	3		3
Repurchases of common stock	(2,000)				(2,000)
Dividends declared	(846)			(846)
Pension and other postretirement benefit adjustments	(26)					(26)
Currency translation adjustment	(277)					(277)
Noncontrolling interest	1						1
Ending balance at Dec. 31, 2016	$ 4,259	$ 6	$ 1,188	$ 19,505	$ (14,638)	$ (1,807)	$ 5

Statement of Changes in Stockh7

Statement of Changes in Stockholders' Equity - Parenthetical - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 2.40	$ 2.07	$ 1.81

Statement of Cash Flows

Statement of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash Provided by (Used for) Operating Activities:
Net income	$ 2,035	$ 1,899	$ 2,946
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	246	244	262
Amortization and impairment of intangible assets	224	233	245
Change in deferred income taxes	(263)	(11)	55
Provision for uncollectible accounts	7	7	7
(Income) loss from investments	13	(4)	(8)
(Gain) loss on sale of plant and equipment	1	1	2
(Gain) loss on discontinued operations	0	0	(1,718)
(Gain) loss on sale of operations and affiliates	12	(16)	6
Stock-based compensation expense	39	41	39
Gain on dividend distribution from equity investment in Wilsonart	(54)	0	0
Other non-cash items, net	5	12	11
(Increase) decrease in—
Trade receivables	(132)	(42)	(70)
Inventories	9	25	(10)
Prepaid expenses and other assets	(63)	24	(98)
Increase (decrease) in—
Accounts payable	(3)	(30)	(20)
Accrued expenses and other liabilities	40	(56)	5
Income taxes	187	(27)	33
Other, net	(1)	(1)	(71)
Net cash provided by operating activities	2,302	2,299	1,616
Cash Provided by (Used for) Investing Activities:
Acquisition of businesses (excluding cash and equivalents) and additional interest in affiliates	(453)	(6)	(45)
Additions to plant and equipment	(273)	(284)	(361)
Proceeds from investments	21	22	28
Dividend distribution from equity investment in Wilsonart	167	0	0
Proceeds from sale of plant and equipment	16	30	28
Net proceeds from sale of discontinued operations	0	0	3,191
Proceeds from sale of operations and affiliates	3	29	18
Other, net	(13)	(1)	(17)
Net cash provided by (used for) investing activities	(532)	(210)	2,842
Cash Provided by (Used for) Financing Activities:
Cash dividends paid	(821)	(742)	(711)
Issuance of common stock	84	59	148
Repurchases of common stock	(2,000)	(2,002)	(4,346)
Net proceeds from (repayments of) debt with original maturities of three months or less	(526)	(946)	(239)
Proceeds from debt with original maturities of more than three months	992	1,099	3,329
Repayments of debt with original maturities of more than three months	(1)	(2)	(1,751)
Excess tax benefits from stock-based compensation	29	20	33
Other, net	(12)	(12)	(14)
Net cash provided by (used for) financing activities	(2,255)	(2,526)	(3,551)
Effect of Exchange Rate Changes on Cash and Equivalents	(133)	(463)	(535)
Cash and Equivalents:
Increase (decrease) during the year	(618)	(900)	372
Beginning of year	3,090	3,990	3,618
End of year	2,472	3,090	3,990
Supplementary Cash Flow Information:
Cash Paid During the Year for Interest	212	200	236
Cash Paid During the Year for Income Taxes, Net of Refunds	920	775	1,502
Liabilities Assumed from Acquisitions	$ 150	$ 1	$ 4

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies Description of business — Illinois Tool Works Inc. (the "Company" or "ITW") is a global manufacturer of a diversified range of industrial products and equipment with approximately 85 divisions in 57 countries. The Company primarily serves the automotive OEM/tiers, commercial food equipment, construction, general industrial, and automotive aftermarket end markets. 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. Reclassifications — Certain reclassifications of prior year data have been made to conform to current year reporting. Use of estimates — 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. 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 revenue — 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. These costs were $223 million in 2016 , $218 million in 2015 and $227 million in 2014 . Advertising expenses — Advertising expenses are recorded as expense in the year incurred. These costs were $58 million in 2016 , $58 million in 2015 and $66 million in 2014 . 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. 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. 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 doubtful accounts which includes reserves for uncollectible accounts, customer credits and cash discounts. The Company estimates the allowance for uncollectible accounts based on the greater of a specific reserve or a reserve calculated based on the historical write-off percentage over the last two years. In addition, reserves for customer credits and cash discounts are estimated based on past experience. The changes in the allowance for doubtful accounts during 2016 , 2015 and 2014 were as follows: In millions 2016 2015 2014 Beginning balance $ 42 $ 43 $ 46 Provision charged to expense 7 7 7 Write-offs, net of recoveries (6 ) (5 ) (7 ) Acquisitions and divestitures 1 — — Foreign currency translation (1 ) (3 ) (3 ) Ending balance $ 43 $ 42 $ 43 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 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, 2016 and 2015 . If the FIFO method was used for all inventories, total inventories would have been approximately $86 million and $81 million higher than reported at December 31, 2016 and 2015 , respectively. The major classes of inventory at December 31, 2016 and 2015 were as follows: In millions 2016 2015 Raw material $ 407 $ 415 Work-in-process 126 130 Finished goods 629 622 LIFO reserve (86 ) (81 ) Total inventories $ 1,076 $ 1,086 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. Net plant and equipment consisted of the following at December 31, 2016 and 2015 : In millions 2016 2015 Land $ 186 $ 179 Buildings and improvements 1,297 1,272 Machinery and equipment 3,036 2,972 Equipment leased to others 160 156 Construction in progress 104 76 Gross plant and equipment 4,783 4,655 Accumulated depreciation (3,131 ) (3,078 ) Net plant and equipment $ 1,652 $ 1,577 The Company’s U.S. businesses primarily compute depreciation on an accelerated basis. The majority of the Company's international businesses compute depreciation on a straight-line basis. 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 Depreciation was $246 million in 2016 , $244 million in 2015 and $262 million in 2014 . There was no depreciation included in Income from discontinued operations in 2014 . Goodwill and intangible assets — Goodwill represents the excess cost over fair value of the net assets of acquired businesses. The Company does not amortize goodwill and intangible assets that have indefinite lives. Amortizable intangible assets are being amortized on a straight-line basis over their estimated useful lives of 3 to 20 years. 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. Accrued warranties — The Company accrues for product warranties based on historical experience. The changes in accrued warranties during 2016 , 2015 and 2014 were as follows: In millions 2016 2015 2014 Beginning balance $ 46 $ 49 $ 50 Charges (41 ) (37 ) (41 ) Provision charged to expense 42 36 43 Acquisitions and divestitures 1 — — Foreign currency translation (3 ) (2 ) (3 ) Ending balance $ 45 $ 46 $ 49 New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (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, with early adoption permitted. The Company expects to adopt the new revenue accounting guidance effective January 1, 2018 and is in the process of completing its analysis of the impact this guidance will have on the consolidated financial statements and related disclosures. In February 2016, the FASB issued authoritative guidance to change the criteria for recognizing leasing transactions. Under the new guidance, a lessee will be required to recognize a lease liability and lease asset for all leases, including operating leases, with a lease term greater than twelve months in the statement of financial position. Subsequent measurement, including presentation of expenses and cash flows, will depend on the classification of the lease as either a financing or operating lease. In addition, several new disclosures will be required. This guidance is effective for the Company beginning January 1, 2019, with early adoption permitted. While the Company has not yet completed its evaluation of the impact the new lease accounting guidance will have on the consolidated financial statements and related disclosures, the Company expects to recognize right of use assets and liabilities for its operating leases in the statement of financial position upon adoption. In March 2016, the FASB issued authoritative guidance that includes several changes to simplify the accounting for stock-based compensation, including the accounting for income taxes, forfeitures, statutory tax withholding requirements and classification of tax benefits in the statement of cash flows. Among the more significant changes, the new guidance requires that the income tax effects associated with the settlement of stock-based awards after adoption of the guidance be recognized through income tax expense rather than directly in equity. Additionally, the income tax effects related to excess tax benefits will be presented as an operating cash flow in the statement of cash flows rather than a financing activity for all current and prior periods presented. The Company adopted this guidance effective January 1, 2017. For the twelve months ended December 31, 2016 and 2015, the Company had classified $29 million and $20 million , respectively, of excess tax benefits as a financing activity in the statement of cash flows which will be presented as an operating cash flow under the new guidance. The expected effect on income tax expense or net cash provided from operating activities related to stock-based awards settled after adoption of the new guidance will depend on inputs such as the stock price at the time of settlement and the number of awards settled in the period presented. In October 2016, the FASB issued authoritative guidance requiring the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs rather than when transferred to a third party as required under the current guidance. The new guidance is effective for the Company beginning January 1, 2018, with early adoption permitted. The Company is currently assessing the potential impact the guidance will have upon adoption. In January 2017, the FASB issued authoritative guidance that simplifies the assessment of goodwill for impairment when the estimated fair value of a reporting unit is less than its carrying value by eliminating the requirement to determine the fair value of goodwill. Under the new guidance, the amount of goodwill impairment will be determined by the amount the carrying value of the reporting unit exceeds its fair value. The new guidance is effective for the Company beginning January 1, 2020, with early adoption permitted. The Company performs its annual goodwill impairment assessment process in the third quarter, or more frequently if triggering events occur. Adoption of this new guidance is not expected to have a material impact on the Company's operating results, financial position or cash flows.

Discontinued Operations

Discontinued Operations	12 Months Ended
	Dec. 31, 2016
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 and 2016 under this new accounting guidance. 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. This business was classified as held for sale beginning in the third quarter of 2013 and was sold in the second quarter of 2014. First Quarter 2013 Discontinued Operations — In the first quarter of 2013, the Company committed to a plan for the divestiture of a construction distribution business previously included in the Construction Products segment. This business was classified as held for sale beginning in the first quarter of 2013 and 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 the applicable periods presented. Results of the discontinued operations for the year ended December 31, 2014 were as follows: In millions 2014 Operating revenue $ 798 Income before income taxes $ 1,805 Income tax expense (749 ) Income from discontinued operations $ 1,056 Included in income before income taxes from discontinued operations for 2014 are net gains on disposal of $1.7 billion ( $1.1 billion after-tax) primarily related to the sale of the Industrial Packaging business. Income tax expense from discontinued operations for 2014 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.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Acquisitions	Acquisitions Net cash paid for acquisitions during 2016, 2015, and 2014 was $453 million , $6 million , and $45 million , respectively. Acquisitions, individually and in the aggregate, did not materially affect the Company's results of operations or financial position for any period presented. The net cash paid for acquisitions in 2016 primarily related to the acquisition of the Engineered Fasteners and Components ("EF&C") business from ZF TRW on July 1, 2016 for a purchase price of approximately $450 million . EF&C had operating revenue of $245 million for the six months ended December 31, 2016 which was reported within the Company’s Automotive OEM segment. As a result of the EF&C transaction, the Company recorded $187 million of goodwill and $135 million of amortizable intangible assets primarily related to customer relationships and technology. The Company expects goodwill of $104 million related to the transaction will be tax deductible. The fair values of the intangible assets were estimated based on discounted cash flow and market-based valuation models using Level 2 and Level 3 inputs and assumptions. The intangible assets are expected to be amortized on a straight-line basis over their estimated useful lives ranging from 4 to 17 years , with a weighted average amortization period of 16 years . Subsequent purchase accounting adjustments may change the initial amounts recorded, including goodwill and intangible assets, primarily due to the completion of valuations. The allocation of purchase price will be completed as soon as practicable, but no later than one year from the acquisition date.

Other Income (Expense)

Other Income (Expense)	12 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
Other Income (Expense)	Other Income (Expense) Other income (expense) consisted of the following: In millions 2016 2015 2014 Interest income $ 38 $ 52 $ 65 Gain (loss) on disposal of operations and affiliates (12 ) 16 (6 ) Gain (loss) on foreign currency transactions, net 9 5 8 Income (loss) from investments (13 ) 4 8 Equity income (loss) in Wilsonart 61 (4 ) (9 ) Other, net (2 ) 5 (5 ) Total other income (expense) $ 81 $ 78 $ 61 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. Equity income (loss) in Wilsonart includes a $54 million pre-tax gain in 2016 resulting from a $167 million cash dividend distribution from Wilsonart which exceeded the Company's equity investment balance. Subsequent to the dividend distribution, the equity investment balance in Wilsonart was reduced to zero and future equity investment income will not be recognized until the gain is recaptured.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Provision for income taxes — The components of the provision for income taxes were as follows: In millions 2016 2015 2014 U.S. federal income taxes: Current $ 756 $ 503 $ 413 Deferred (224 ) 8 121 Total U.S. federal income taxes 532 511 534 Foreign income taxes: Current 290 310 163 Deferred (5 ) (11 ) 66 Benefit of net operating loss carryforwards — (48 ) (13 ) Total foreign income taxes 285 251 216 State income taxes: Current 90 66 50 Deferred (34 ) (8 ) 9 Total state income taxes 56 58 59 Total provision for income taxes $ 873 $ 820 $ 809 Income from continuing operations before income taxes for domestic and foreign operations was as follows: In millions 2016 2015 2014 Domestic $ 1,653 $ 1,660 $ 1,669 Foreign 1,255 1,059 1,030 Total income from continuing operations before income taxes $ 2,908 $ 2,719 $ 2,699 The reconciliation between the U.S. federal statutory tax rate and the effective tax rate was as follows: 2016 2015 2014 U.S. federal statutory tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of U.S. federal tax benefit 1.3 1.4 1.6 Differences between U.S. federal statutory and foreign tax rates (3.6 ) (3.1 ) (3.5 ) Nontaxable foreign interest income (2.1 ) (3.3 ) (3.6 ) Tax effect of foreign dividends 1.5 2.8 2.1 Tax relief for U.S. manufacturers (1.4 ) (1.6 ) (1.5 ) Other, net (0.7 ) (1.1 ) (0.1 ) Effective tax rate 30.0 % 30.1 % 30.0 % 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 $8.8 billion and $8.7 billion as of December 31, 2016 and 2015 , 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. Deferred tax assets and liabilities — The components of deferred income tax assets and liabilities at December 31, 2016 and 2015 were as follows: 2016 2015 In millions Asset Liability Asset Liability Goodwill and intangible assets $ 240 $ (716 ) $ 282 $ (734 ) Inventory reserves, capitalized tax cost and LIFO inventory 40 (5 ) 42 (5 ) Investments 23 (206 ) 25 (298 ) Plant and equipment 23 (79 ) 28 (84 ) Accrued expenses and reserves 76 — 79 — Employee benefit accruals 306 — 314 — Foreign tax credit carryforwards 6 — 216 — Net operating loss carryforwards 610 — 643 — Capital loss carryforwards 42 — 39 — Allowances for uncollectible accounts 13 — 13 — Pension liabilities 25 — 13 — Deferred intercompany deductions 430 — — — Unrealized loss (gain) on foreign debt instruments — (140 ) — (115 ) Other 97 (16 ) 109 (10 ) Gross deferred income tax assets (liabilities) 1,931 (1,162 ) 1,803 (1,246 ) Valuation allowances (454 ) — (467 ) — Total deferred income tax assets (liabilities) $ 1,477 $ (1,162 ) $ 1,336 $ (1,246 ) The valuation allowances recorded at December 31, 2016 and 2015 related primarily to certain net operating loss carryforwards, capital loss carryforwards and foreign tax credit carryforwards. As of December 31, 2016 , the Company has utilized all realizable foreign tax credit carryforwards. At December 31, 2016 , 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 2017 $ 9 2018 7 2019 8 2020 75 2021 80 2022 21 2023 18 2024-2036 31 Do not expire 1,956 Total gross carryforwards related to net operating losses $ 2,205 Unrecognized tax benefit s— The changes in the amount of unrecognized tax benefits during 2016 , 2015 and 2014 were as follows: In millions 2016 2015 2014 Beginning balance $ 259 $ 218 $ 268 Additions based on tax positions related to the current year 19 39 23 Additions for tax positions of prior years 126 54 12 Reductions for tax positions of prior years (97 ) (41 ) (59 ) Settlements (96 ) (6 ) (18 ) Foreign currency translation (1 ) (5 ) (8 ) Ending balance $ 210 $ 259 $ 218 Included in the balance at December 31, 2016 were approximately $176 million of unrecognized tax benefits that, if recognized, would impact the Company’s effective tax rate. During the fourth quarter of 2016, the Company effectively settled with the Internal Revenue Service on issues identified during its 2012-2013 audit, which primarily related to deferred gain recognition and foreign tax credits. Based on this agreement, the Company decreased its unrecognized tax benefits by approximately $96 million . 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 $57 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 2012-2016 United Kingdom 2013-2016 Germany 2009-2016 France 2013-2016 Australia 2012-2016 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, 2016 and 2015 was $28 million and $32 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 proceeded to court with the trial taking place in the third quarter of 2016. Final decision by the tax court is expected in 2017. Although the court's final decision cannot be predicted with certainty, the Company believes its position continues to be supportable. 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, 2016
Earnings Per Share [Abstract]
Income Per Share from Continuing Operations	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 2016 2015 2014 Income from continuing operations $ 2,035 $ 1,899 $ 1,890 Income per share from continuing operations—Basic: Weighted-average common shares 355.0 367.9 401.7 Income per share from continuing operations—Basic $ 5.73 $ 5.16 $ 4.70 Income per share from continuing operations—Diluted: Weighted-average common shares 355.0 367.9 401.7 Effect of dilutive stock options and restricted stock units 2.1 2.2 2.9 Weighted-average common shares assuming dilution 357.1 370.1 404.6 Income per share from continuing operations—Diluted $ 5.70 $ 5.13 $ 4.67 Options that were considered antidilutive were not included in the computation of diluted income per share from continuing operations. There were no antidilutive options outstanding as of December 31, 2016 , 0.6 million antidilutive options outstanding as of December 31, 2015 and no antidilutive options outstanding as of December 31, 2014 .

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The changes in the carrying amount of goodwill for the years ended December 31, 2016 and 2015 were as follows: In millions Automotive OEM Test & Measurement and Electronics Food Equipment Polymers & Fluids Welding Construction Products Specialty Products Total 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 2016 activity: Acquisitions & divestitures 187 1 — (2 ) — (1 ) 1 186 Impairment charges — — — — — — — — Foreign currency translation (8 ) (20 ) (10 ) (3 ) (1 ) (7 ) (18 ) (67 ) Balance, December 31, 2016 $ 456 $ 1,336 $ 249 $ 889 $ 260 $ 508 $ 860 $ 4,558 Cumulative goodwill impairment charges, December 31, 2016 $ 24 $ 83 $ 60 $ 15 $ 5 $ 7 $ 46 $ 240 Intangible assets as of December 31, 2016 and 2015 were as follows: 2016 2015 In millions Cost Accumulated Amortization Net Cost Accumulated Amortization Net Amortizable intangible assets: Customer lists and relationships $ 1,744 $ (1,060 ) $ 684 $ 1,630 $ (943 ) $ 687 Trademarks and brands 733 (344 ) 389 724 (298 ) 426 Patents and proprietary technology 620 (432 ) 188 618 (397 ) 221 Other 461 (444 ) 17 475 (446 ) 29 Total amortizable intangible assets 3,558 (2,280 ) 1,278 3,447 (2,084 ) 1,363 Indefinite-lived intangible assets: Trademarks and brands 185 — 185 197 — 197 Total intangible assets $ 3,743 $ (2,280 ) $ 1,463 $ 3,644 $ (2,084 ) $ 1,560 The Company performed its annual impairment assessment of goodwill and indefinite-lived intangible assets in the third quarter of 2016, 2015 and 2014. The 2016 assessment resulted in no impairment charges. In 2015, the Company recorded a $2 million indefinite-lived intangible asset impairment charge related to a brand in the Polymers & Fluids segment which had a fair value of $24 million and a carrying value of $26 million . In 2014, the Company recorded a $3 million indefinite-lived intangible asset impairment charge related to certain brands in the Polymers & Fluids and Test & Measurement and Electronics segments which had a total fair value of $8 million and a carrying value of $11 million . The 2015 and 2014 impairments were included in Amortization and impairment of intangible assets in the statement of income. For the years ended December 31, 2016 , 2015 and 2014 , amortization expense and impairment of intangible assets was $224 million , $233 million , and $245 million , respectively. The estimated amortization expense of intangible assets for the future years ending December 31 is as follows: In millions 2017 $ 203 2018 184 2019 162 2020 141 2021 123

Debt

Debt	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt	Debt 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. Short-term debt as of December 31, 2016 and 2015 consisted of the following: In millions 2016 2015 Commercial paper $ — $ 498 Bank overdrafts — 25 Current maturities of long-term debt 650 1 Other borrowings 2 2 Total short-term debt $ 652 $ 526 In 2016, the Company reclassified $650 million related to the 0.90% notes due February 25, 2017 from Long-term debt to Short-term debt. The Company may issue commercial paper to fund general corporate needs, share repurchases, and small and medium-sized acquisitions. During the second quarter of 2016, the Company entered into a $2.5 billion , five -year line of credit agreement with a termination date of May 9, 2021 to support the potential issuances of commercial paper. This agreement replaced the previously existing $1.5 billion line of credit agreement with a termination date of June 8, 2017 and the $1.0 billion line of credit agreement with a termination date of August 15, 2018. No amounts were outstanding under the new line of credit agreement at December 31, 2016 . As of December 31, 2016 , the Company was in compliance with the financial covenants of the line of credit agreement, which includes a minimum interest coverage ratio. The weighted-average interest rate on commercial paper was 0.4% and 0.1% at December 31, 2016 and 2015 , respectively. As of December 31, 2016 , the Company had unused capacity of approximately $ 286 million under international debt facilities. Long-term 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. Long-term debt at carrying value and fair value as of December 31, 2016 and 2015 consisted of the following: 2016 2015 In millions Effective Interest Rate Carrying Value Fair Value Carrying Value Fair Value 0.90% notes due February 25, 2017 0.95% $ 650 $ 650 $ 649 $ 649 1.95% notes due March 1, 2019 1.98% 648 656 647 655 6.25% notes due April 1, 2019 6.25% 698 768 698 790 4.88% notes due thru December 31, 2020 4.96% 4 4 4 4 3.375% notes due September 15, 2021 3.43% 348 365 347 362 1.75% Euro notes due May 20, 2022 1.86% 520 565 536 564 1.25% Euro notes due May 22, 2023 1.35% 520 549 536 538 3.50% notes due March 1, 2024 3.54% 695 728 695 727 2.65% notes due November 15, 2026 2.69% 991 959 — — 2.125% Euro notes due May 22, 2030 2.18% 519 565 536 530 3.0% Euro notes due May 19, 2034 3.13% 512 618 528 569 4.875% notes due September 15, 2041 4.97% 636 734 635 708 3.9% notes due September 1, 2042 3.96% 1,080 1,114 1,080 1,051 Other borrowings 6 6 6 6 Total $ 7,827 $ 8,281 $ 6,897 $ 7,153 Less: Current maturities of long-term debt (650 ) (1 ) Total long-term debt $ 7,177 $ 6,896 The approximate fair values of the Company’s long-term debt, including current maturities, were based on a valuation model, using Level 2 observable inputs which included market rates for comparable instruments for the respective periods. In 2005, the Company issued $54 million of 4.88% notes due through December 31, 2020 at 100% of face value. In 2009, the Company issued $700 million of 6.25% redeemable notes due April 1, 2019 at 99.98% of face value. 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. In November 2016, the Company issued $1.0 billion of 2.65% notes due November 15, 2026 at 99.685% of face value. Net proceeds from the November 2016 debt issuance were used to repay commercial paper and for general corporate purposes. The Company designated the € 1.0 billion of Euro notes issued in May 2014 and the € 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. Refer to Note 11. Stockholders' Equity for additional information regarding the net investment hedge. All of the Company's notes listed above represent senior unsecured obligations ranking equal in right of payment. 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 2017 $ 650 2018 — 2019 1,346 2020 4 2021 348 2022 and future years 5,479 Total $ 7,827

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	12 Months Ended
	Dec. 31, 2016
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 2016 , $77 million in 2015 , and $ 78 million in 2014 . In addition to the U.S. plans, the Company also has defined benefit pension plans in certain other countries, mainly the United Kingdom, Canada, Germany 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 2016 2015 2014 2016 2015 2014 Components of net periodic benefit cost: Service cost $ 62 $ 70 $ 80 $ 9 $ 11 $ 10 Interest cost 92 92 103 24 24 24 Expected return on plan assets (144 ) (151 ) (159 ) (23 ) (25 ) (25 ) Amortization of actuarial (gain) loss 44 60 48 — (1 ) (4 ) Amortization of prior service cost — 1 1 (1 ) 1 1 Settlement/curtailment (gain) loss — — 1 — — (9 ) Total net periodic benefit cost $ 54 $ 72 $ 74 $ 9 $ 10 $ (3 ) Net periodic benefit cost was included in the statement of income as follows: Pension Other Postretirement Benefits In millions 2016 2015 2014 2016 2015 2014 Income from continuing operations $ 54 $ 72 $ 69 $ 9 $ 10 $ 6 Income from discontinued operations — — 5 — — (9 ) Total net periodic benefit cost $ 54 $ 72 $ 74 $ 9 $ 10 $ (3 ) The Company recognized a $9 million curtailment gain on the U.S. primary postretirement plan in the second quarter of 2014 related to the Company's sale of the Industrial Packaging business, which was 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 benefit obligations as of December 31, 2014 which resulted in additional actuarial losses of $76 million for pension and $46 million for other postretirement benefits. The Company used the updated mortality improvement scales, MP-2015 and MP-2016, to measure its U.S. pension and other postretirement obligations as of December 31, 2015 and 2016 , respectively, which did not have a significant impact in either period. 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, 2016 and 2015 : Pension Other Postretirement Benefits In millions 2016 2015 2016 2015 Change in benefit obligation: Benefit obligation at January 1 $ 2,462 $ 2,607 $ 552 $ 591 Service cost 62 70 9 11 Interest cost 92 92 24 24 Plan participants’ contributions 2 3 12 13 Amendments — 1 — — Actuarial (gain) loss 216 (82 ) (5 ) (43 ) Acquisitions and divestitures 7 — — — Benefits paid (150 ) (169 ) (43 ) (46 ) Medicare subsidy received — — 2 2 Foreign currency translation (129 ) (60 ) — — Benefit obligation at December 31 $ 2,562 $ 2,462 $ 551 $ 552 Pension Other Postretirement Benefits In millions 2016 2015 2016 2015 Change in plan assets: Fair value of plan assets at January 1 $ 2,441 $ 2,557 $ 342 $ 372 Actual return on plan assets 274 16 36 (3 ) Company contributions 70 97 4 6 Plan participants’ contributions 2 3 12 13 Benefits paid (150 ) (169 ) (43 ) (46 ) Foreign currency translation (150 ) (63 ) — — Fair value of plan assets at December 31 $ 2,487 $ 2,441 $ 351 $ 342 Funded status $ (75 ) $ (21 ) $ (200 ) $ (210 ) Other immaterial plans (58 ) (50 ) (5 ) (5 ) Net liability at December 31 $ (133 ) $ (71 ) $ (205 ) $ (215 ) The amounts recognized in the statement of financial position as of December 31 consist of: Other assets $ 131 $ 191 $ — $ — Accrued expenses (12 ) (11 ) (4 ) (4 ) Other noncurrent liabilities (252 ) (251 ) (201 ) (211 ) Net liability at end of year $ (133 ) $ (71 ) $ (205 ) $ (215 ) The pre-tax amounts recognized in accumulated other comprehensive income consist of: Net actuarial (gain) loss $ 673 $ 631 $ (38 ) $ (20 ) Prior service cost — — — (1 ) $ 673 $ 631 $ (38 ) $ (21 ) Accumulated benefit obligation $ 2,207 $ 2,297 Plans with accumulated benefit obligation in excess of plan assets as of December 31: Projected benefit obligation $ 183 $ 164 Accumulated benefit obligation $ 167 $ 152 Fair value of plan assets $ 25 $ 25 Assumptions — The weighted-average assumptions used in the valuations of pension and other postretirement benefits were as follows: Pension Other Postretirement Benefits 2016 2015 2014 2016 2015 2014 Assumptions used to determine benefit obligations at December 31: Discount rate 3.41 % 3.95 % 3.70 % 4.30 % 4.55 % 4.15 % Rate of compensation increases 3.77 % 3.72 % 3.72 % — % — % — % Assumptions used to determine net periodic benefit cost for years ended December 31: Discount rate 3.95 % 3.70 % 4.32 % 4.55 % 4.15 % 4.95 % Expected return on plan assets 6.22 % 6.54 % 7.02 % 7.00 % 7.00 % 7.00 % Rate of compensation increases 3.72 % 3.72 % 3.72 % — % — % — % 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. The discount rate reflects the current rate at which the associated liabilities could theoretically be effectively settled at the end of the year. In estimating this rate, the Company looks at rates of return on high-quality fixed income investments, with similar duration to the liabilities in the plan. Beginning in 2017, the Company changed the method used to estimate the service and interest cost components of net periodic pension and other postretirement benefit costs. The new method will provide a more precise measure of the service and interest cost components of net periodic benefit cost by applying specific spot rates along the yield curve to the projected cash flows rather than a single weighted-average rate. 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: 2016 2015 2014 Health care cost trend rate assumed for the next year 6.00 % 6.00 % 8.00 % Ultimate trend rate 4.50 % 4.50 % 4.50 % Year the rate reaches the ultimate trend rate 2023 2021 2022 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 2016 $ — $ (1 ) Change in postretirement benefit obligation at December 31, 2016 $ 6 $ (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 45% equity securities, 50% to 65% 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, 2016 and 2015 , 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. 2016 In millions Total Level 1 Level 2 Level 3 Pension Plan Assets: Cash and equivalents $ 82 $ 55 $ 27 $ — Equity securities: Domestic 1 1 — — Fixed income securities: Government securities 307 — 307 — Corporate debt securities 541 — 541 — Mortgage-backed securities 19 — 19 — Investment contracts with insurance companies 1 — — 1 Commingled funds: Collective trust funds 1,478 Partnerships/private equity interests 54 Other 4 Total fair value of pension plan assets $ 2,487 $ 56 $ 894 $ 1 Other Postretirement Benefit Plan Assets: Cash and equivalents $ 1 $ 1 $ — $ — Life insurance policies 350 Total fair value of other postretirement benefit plan assets $ 351 $ 1 $ — $ — 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 ) — Total fair value of pension plan assets $ 2,441 $ 261 $ 766 $ 1 Other Postretirement Benefit Plan Assets: Cash and equivalents $ 8 $ 8 $ — $ — Life insurance policies 334 Total fair value of other postretirement benefit plan assets $ 342 $ 8 $ — $ — 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. Pension assets measured at net asset value include collective trust funds, partnerships/private equity interests and life insurance policies. Collective trust funds are private funds that are valued 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 in which these assets are invested 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 $ 64 million to its pension plans and $ 5 million to its other postretirement benefit plans in 2017 . 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 2017 $ 182 $ 35 2018 181 36 2019 183 37 2020 185 38 2021 184 38 Years 2022-2026 882 193

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation — 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. Lease Commitments — Rental expense was $121 million in 2016 , $117 million in 2015 and $130 million in 2014 . Future minimum lease payments under non-cancelable leases for the years ending December 31 are as follows: In millions 2017 $ 104 2018 75 2019 53 2020 37 2021 26 2022 and future years 43 Total future minimum lease payments $ 338

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Preferred Stock — 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. Share Repurchases — On August 2, 2013, the Company’s Board of Directors authorized a stock repurchase program, which provided for the repurchase of up to $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 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 "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 and approximately 18.7 million shares of its common stock at an average price of $107.17 per share during 2016. As of December 31, 2016 , there were approximately $3.4 billion of authorized repurchases remaining under the 2015 Program. Cash Dividends — Cash dividends declared were $2.40 per share in 2016 , $2.07 per share in 2015 and $1.81 per share in 2014 . Cash dividends paid were $2.30 per share in 2016 , $2.005 per share in 2015 and $1.745 per share in 2014 . Accumulated Other Comprehensive Income (Loss) — The changes in accumulated other comprehensive income (loss) during 2016 , 2015 and 2014 were as follows: In millions 2016 2015 2014 Beginning balance $ (1,504 ) $ (658 ) $ 384 Foreign currency translation adjustments during the period (251 ) (800 ) (806 ) Foreign currency translation adjustments reclassified to income (1 ) — (133 ) Income taxes (25 ) (60 ) — Total foreign currency translation adjustments, net of tax (277 ) (860 ) (939 ) Pension and other postretirement benefit adjustments during the period (67 ) (41 ) (224 ) Pension and other postretirement benefit adjustments reclassified to income 43 61 54 Income taxes (2 ) (6 ) 67 Total pension and other postretirement benefit adjustments, net of tax (26 ) 14 (103 ) Ending balance $ (1,807 ) $ (1,504 ) $ (658 ) 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 Note 2. Discontinued Operations 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 Note 9. Pension and Other Postretirement Benefits for the amounts included in net periodic benefit cost. Pension and other postretirement benefit adjustments reclassified to income also include the reclassification of deferred losses of $6 million for the year ended December 31, 2014 related to the disposal of certain discontinued operations. Refer to Note 2. Discontinued Operations 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 $375 million and $308 million as of December 31, 2016 and December 31, 2015 , respectively. As of December 31, 2016 and 2015 , the ending balance of Accumulated other comprehensive income (loss) consisted of cumulative translation adjustment losses of $1.4 billion and $1.1 billion , respectively, and unrecognized pension and other postretirement benefits costs of $405 million and $379 million , respectively. The estimated unrecognized benefit cost that will be amortized from Accumulated other comprehensive income (loss) into net periodic benefit cost in 2017 is $ 55 million for pension and other postretirement benefits.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2016
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 an expiration 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, 2016 , approximately 15 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 2016 2015 2014 Pre-tax compensation expense $ 39 $ 35 $ 34 Tax benefit (13 ) (12 ) (12 ) Total stock-based compensation expense, net of tax $ 26 $ 23 $ 22 There was no pre-tax stock-based compensation expense included in income from discontinued operations in 2016 or 2015 . Pre-tax stock-based compensation expense included in Income from discontinued operations was $5 million in 2014 . The following table summarizes activity related to non-vested RSUs during 2016 : Shares in millions Number of Shares Weighted-Average Grant-Date Fair Value Unvested, January 1, 2016 0.8 $73.58 Granted 0.3 85.61 Vested (0.3 ) 61.14 Canceled (0.1 ) 83.12 Unvested, December 31, 2016 0.7 83.39 The following table summarizes stock option activity for the year ended December 31, 2016 : 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, 2016 6.4 $61.44 Granted 0.6 91.88 Exercised (1.6 ) 50.66 Canceled or expired (0.1 ) 87.15 Under option, December 31, 2016 5.3 68.05 5.9 $290 Exercisable, December 31, 2016 3.7 59.72 4.9 $232 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: 2016 2015 2014 Risk-free interest rate 0.56-1.86% 0.23-2.25% 0.16-2.83% Weighted-average volatility 24.0% 23.0% 22.9% Dividend yield 2.12% 2.11% 2.46% Expected years until exercise 6.9-7.7 6.9-8.0 6.7-7.9 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 2016 , 2015 and 2014 was $ 20.02 , $20.58 and $15.14 per share, respectively. The aggregate intrinsic value of stock options exercised during the years ended December 31, 2016 , 2015 and 2014 was $ 89 million, $55 million and $115 million , respectively. As of December 31, 2016 , there was $ 7 million of total unrecognized compensation cost related to unvested stock options. That cost is expected to be recognized over a weighted-average period of 1.9 years. Exercise of stock options during the years ended December 31, 2016 , 2015 and 2014 resulted in cash receipts of $ 84 million, $ 59 million and $148 million , respectively. The total fair value of vested stock option awards during the years ended December 31, 2016 , 2015 and 2014 was $ 12 million, $13 million and $16 million , respectively. As of December 31, 2016 , there was $ 16 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 1.6 years. The total fair value of vested RSU awards during the years ended December 31, 2016 , 2015 and 2014 was $ 21 million, $20 million and $27 million , respectively.

Other Balance Sheet Information

Other Balance Sheet Information	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other Balance Sheet Information	Other Balance Sheet Information Other balance sheet information at December 31, 2016 and 2015 was as follows: In millions 2016 2015 Prepaid expenses and other current assets: Value-added-tax receivables $ 55 $ 48 Income tax refunds receivable 21 147 Vendor advances 20 22 Other 122 124 Total prepaid expenses and other current assets $ 218 $ 341 Other assets: Cash surrender value of life insurance policies $ 442 $ 428 Customer tooling 146 88 Prepaid pension assets 131 191 Investments 73 99 Equity investment in Wilsonart (See Note 4) — 113 Other 164 168 Total other assets $ 956 $ 1,087 Accrued expenses: Compensation and employee benefits $ 379 $ 363 Deferred revenue and customer deposits 180 169 Rebates 144 125 Warranties 45 46 Current portion of pension and other postretirement benefit obligations 16 15 Other 438 418 Total accrued expenses $ 1,202 $ 1,136 Other liabilities: Pension benefit obligation $ 252 $ 251 Postretirement benefit obligation 201 211 Other 418 519 Total other liabilities $ 871 $ 981

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information The Company's operations are organized and managed based on similar product offerings and end markets, and are reported to senior management as the following seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; 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. Food Equipment — This segment is a highly focused and branded industry-leader in commercial food equipment differentiated by innovation and integrated service offerings. 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 and related accessories, consumables, and software for testing and measuring physical properties of materials and structures, as well as equipment and consumables used in the production of electronic subassemblies and microelectronics. 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. 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. 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 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 2016 , 2015 and 2014 was as follows: In millions 2016 2015 2014 Operating revenue: Automotive OEM $ 2,864 $ 2,529 $ 2,590 Food Equipment 2,110 2,096 2,177 Test & Measurement and Electronics 1,974 1,969 2,204 Welding 1,486 1,650 1,850 Polymers & Fluids 1,691 1,712 1,927 Construction Products 1,609 1,587 1,707 Specialty Products 1,885 1,885 2,055 Intersegment revenue (20 ) (23 ) (26 ) Total $ 13,599 $ 13,405 $ 14,484 Operating income: Automotive OEM $ 690 $ 613 $ 600 Food Equipment 537 498 453 Test & Measurement and Electronics 372 322 340 Welding 370 415 479 Polymers & Fluids 343 335 357 Construction Products 361 316 289 Specialty Products 482 439 440 Total Segments 3,155 2,938 2,958 Unallocated (91 ) (71 ) (70 ) Total $ 3,064 $ 2,867 $ 2,888 Depreciation and amortization and impairment of intangible assets: Automotive OEM $ 90 $ 76 $ 79 Food Equipment 45 48 52 Test & Measurement and Electronics 104 110 115 Welding 36 37 38 Polymers & Fluids 92 95 99 Construction Products 34 36 43 Specialty Products 69 75 81 Total $ 470 $ 477 $ 507 Plant and equipment additions: Automotive OEM $ 116 $ 106 $ 96 Food Equipment 31 37 47 Test & Measurement and Electronics 25 32 56 Welding 16 23 36 Polymers & Fluids 18 20 28 Construction Products 20 26 41 Specialty Products 47 40 54 Total Segments 273 284 358 Discontinued Operations — — 3 Total $ 273 $ 284 $ 361 Identifiable assets: Automotive OEM $ 2,051 $ 1,419 $ 1,454 Food Equipment 1,013 1,054 1,123 Test & Measurement and Electronics 2,362 2,448 2,615 Welding 701 747 879 Polymers & Fluids 2,019 2,034 2,257 Construction Products 1,099 1,129 1,249 Specialty Products 1,599 1,659 1,798 Total Segments 10,844 10,490 11,375 Corporate 4,357 5,239 6,090 Total $ 15,201 $ 15,729 $ 17,465 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 2016 , 2015 and 2014 was as follows: In millions 2016 2015 2014 Operating Revenue by Geographic Region: United States $ 6,176 $ 6,167 $ 6,191 Canada/Mexico 923 928 993 Total North America 7,099 7,095 7,184 Europe, Middle East and Africa 3,787 3,725 4,319 Asia Pacific 2,361 2,197 2,427 South America 352 388 554 Total Operating Revenue $ 13,599 $ 13,405 $ 14,484 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 2016 , 2015 or 2014 . Additionally, the Company has thousands of product lines within its businesses; therefore, providing operating revenue by product line is not practicable.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) 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 2016 2015 2016 2015 2016 2015 2016 2015 Operating revenue $ 3,274 $ 3,342 $ 3,431 $ 3,434 $ 3,495 $ 3,354 $ 3,399 $ 3,275 Cost of revenue 1,896 1,970 1,967 2,024 2,027 1,953 2,006 1,941 Operating income 722 697 792 730 808 761 742 679 Net income 468 458 525 480 535 511 507 450 Net income per share: Basic 1.29 1.22 1.47 1.31 1.51 1.40 1.46 1.24 Diluted 1.29 1.21 1.46 1.30 1.50 1.39 1.45 1.23

Description of Business and S24

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
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.
Reclassifications	Reclassifications — Certain reclassifications of prior year data have been made to conform to current year reporting.
Use of Estimates	Use of estimates — 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.
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 Revenue	Operating revenue — 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 — Research and development expenses are recorded as expense in the year incurred.
Advertising Expenses	Advertising expenses — Advertising expenses are recorded as expense in the year incurred.
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. 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.
Cash and Equivalents	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 — Trade receivables are net of allowances for doubtful accounts which includes reserves for uncollectible accounts, customer credits and cash discounts. The Company estimates the allowance for uncollectible accounts based on the greater of a specific reserve or a reserve calculated based on the historical write-off percentage over the last two years. In addition, reserves for customer credits and cash discounts are estimated based on past experience.
Inventories	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 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 — 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. The Company’s U.S. businesses primarily compute depreciation on an accelerated basis. The majority of the Company's international businesses compute depreciation on a straight-line basis.
Goodwill and Intangible Assets	Goodwill and intangible assets — Goodwill represents the excess cost over fair value of the net assets of acquired businesses. The Company does not amortize goodwill and intangible assets that have indefinite lives. Amortizable intangible assets are being amortized on a straight-line basis over their estimated useful lives of 3 to 20 years. 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.
Accrued Warranties	Accrued warranties — The Company accrues for product warranties based on historical experience.
New Accounting Pronouncements	New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (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, with early adoption permitted. The Company expects to adopt the new revenue accounting guidance effective January 1, 2018 and is in the process of completing its analysis of the impact this guidance will have on the consolidated financial statements and related disclosures. In February 2016, the FASB issued authoritative guidance to change the criteria for recognizing leasing transactions. Under the new guidance, a lessee will be required to recognize a lease liability and lease asset for all leases, including operating leases, with a lease term greater than twelve months in the statement of financial position. Subsequent measurement, including presentation of expenses and cash flows, will depend on the classification of the lease as either a financing or operating lease. In addition, several new disclosures will be required. This guidance is effective for the Company beginning January 1, 2019, with early adoption permitted. While the Company has not yet completed its evaluation of the impact the new lease accounting guidance will have on the consolidated financial statements and related disclosures, the Company expects to recognize right of use assets and liabilities for its operating leases in the statement of financial position upon adoption. In March 2016, the FASB issued authoritative guidance that includes several changes to simplify the accounting for stock-based compensation, including the accounting for income taxes, forfeitures, statutory tax withholding requirements and classification of tax benefits in the statement of cash flows. Among the more significant changes, the new guidance requires that the income tax effects associated with the settlement of stock-based awards after adoption of the guidance be recognized through income tax expense rather than directly in equity. Additionally, the income tax effects related to excess tax benefits will be presented as an operating cash flow in the statement of cash flows rather than a financing activity for all current and prior periods presented. The Company adopted this guidance effective January 1, 2017. For the twelve months ended December 31, 2016 and 2015, the Company had classified $29 million and $20 million , respectively, of excess tax benefits as a financing activity in the statement of cash flows which will be presented as an operating cash flow under the new guidance. The expected effect on income tax expense or net cash provided from operating activities related to stock-based awards settled after adoption of the new guidance will depend on inputs such as the stock price at the time of settlement and the number of awards settled in the period presented. In October 2016, the FASB issued authoritative guidance requiring the recognition of the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs rather than when transferred to a third party as required under the current guidance. The new guidance is effective for the Company beginning January 1, 2018, with early adoption permitted. The Company is currently assessing the potential impact the guidance will have upon adoption. In January 2017, the FASB issued authoritative guidance that simplifies the assessment of goodwill for impairment when the estimated fair value of a reporting unit is less than its carrying value by eliminating the requirement to determine the fair value of goodwill. Under the new guidance, the amount of goodwill impairment will be determined by the amount the carrying value of the reporting unit exceeds its fair value. The new guidance is effective for the Company beginning January 1, 2020, with early adoption permitted. The Company performs its annual goodwill impairment assessment process in the third quarter, or more frequently if triggering events occur. Adoption of this new guidance is not expected to have a material impact on the Company's operating results, financial position or cash flows. 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 and 2016 under this new accounting guidance.
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.

Description of Business and S25

Description of Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Changes in Allowances for Uncollectible Accounts	The changes in the allowance for doubtful accounts during 2016 , 2015 and 2014 were as follows: In millions 2016 2015 2014 Beginning balance $ 42 $ 43 $ 46 Provision charged to expense 7 7 7 Write-offs, net of recoveries (6 ) (5 ) (7 ) Acquisitions and divestitures 1 — — Foreign currency translation (1 ) (3 ) (3 ) Ending balance $ 43 $ 42 $ 43
Schedule of Inventory	The major classes of inventory at December 31, 2016 and 2015 were as follows: In millions 2016 2015 Raw material $ 407 $ 415 Work-in-process 126 130 Finished goods 629 622 LIFO reserve (86 ) (81 ) Total inventories $ 1,076 $ 1,086
Net Plant and Equipment	Net plant and equipment consisted of the following at December 31, 2016 and 2015 : In millions 2016 2015 Land $ 186 $ 179 Buildings and improvements 1,297 1,272 Machinery and equipment 3,036 2,972 Equipment leased to others 160 156 Construction in progress 104 76 Gross plant and equipment 4,783 4,655 Accumulated depreciation (3,131 ) (3,078 ) Net plant and equipment $ 1,652 $ 1,577 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
Changes in Accrued Warranties	The changes in accrued warranties during 2016 , 2015 and 2014 were as follows: In millions 2016 2015 2014 Beginning balance $ 46 $ 49 $ 50 Charges (41 ) (37 ) (41 ) Provision charged to expense 42 36 43 Acquisitions and divestitures 1 — — Foreign currency translation (3 ) (2 ) (3 ) Ending balance $ 45 $ 46 $ 49

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Results of Discontinued Operations	Results of the discontinued operations for the year ended December 31, 2014 were as follows: In millions 2014 Operating revenue $ 798 Income before income taxes $ 1,805 Income tax expense (749 ) Income from discontinued operations $ 1,056

Other Income (Expense) (Tables)

Other Income (Expense) (Tables)	12 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
Other Income (Expense)	Other income (expense) consisted of the following: In millions 2016 2015 2014 Interest income $ 38 $ 52 $ 65 Gain (loss) on disposal of operations and affiliates (12 ) 16 (6 ) Gain (loss) on foreign currency transactions, net 9 5 8 Income (loss) from investments (13 ) 4 8 Equity income (loss) in Wilsonart 61 (4 ) (9 ) Other, net (2 ) 5 (5 ) Total other income (expense) $ 81 $ 78 $ 61

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Components of the Provision for Income Taxes	The components of the provision for income taxes were as follows: In millions 2016 2015 2014 U.S. federal income taxes: Current $ 756 $ 503 $ 413 Deferred (224 ) 8 121 Total U.S. federal income taxes 532 511 534 Foreign income taxes: Current 290 310 163 Deferred (5 ) (11 ) 66 Benefit of net operating loss carryforwards — (48 ) (13 ) Total foreign income taxes 285 251 216 State income taxes: Current 90 66 50 Deferred (34 ) (8 ) 9 Total state income taxes 56 58 59 Total provision for income taxes $ 873 $ 820 $ 809
Income from Continuing Operations Before Income Taxes	Income from continuing operations before income taxes for domestic and foreign operations was as follows: In millions 2016 2015 2014 Domestic $ 1,653 $ 1,660 $ 1,669 Foreign 1,255 1,059 1,030 Total income from continuing operations before income taxes $ 2,908 $ 2,719 $ 2,699
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: 2016 2015 2014 U.S. federal statutory tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of U.S. federal tax benefit 1.3 1.4 1.6 Differences between U.S. federal statutory and foreign tax rates (3.6 ) (3.1 ) (3.5 ) Nontaxable foreign interest income (2.1 ) (3.3 ) (3.6 ) Tax effect of foreign dividends 1.5 2.8 2.1 Tax relief for U.S. manufacturers (1.4 ) (1.6 ) (1.5 ) Other, net (0.7 ) (1.1 ) (0.1 ) Effective tax rate 30.0 % 30.1 % 30.0 %
Components of Deferred Income Tax Assets and Liabilities	The components of deferred income tax assets and liabilities at December 31, 2016 and 2015 were as follows: 2016 2015 In millions Asset Liability Asset Liability Goodwill and intangible assets $ 240 $ (716 ) $ 282 $ (734 ) Inventory reserves, capitalized tax cost and LIFO inventory 40 (5 ) 42 (5 ) Investments 23 (206 ) 25 (298 ) Plant and equipment 23 (79 ) 28 (84 ) Accrued expenses and reserves 76 — 79 — Employee benefit accruals 306 — 314 — Foreign tax credit carryforwards 6 — 216 — Net operating loss carryforwards 610 — 643 — Capital loss carryforwards 42 — 39 — Allowances for uncollectible accounts 13 — 13 — Pension liabilities 25 — 13 — Deferred intercompany deductions 430 — — — Unrealized loss (gain) on foreign debt instruments — (140 ) — (115 ) Other 97 (16 ) 109 (10 ) Gross deferred income tax assets (liabilities) 1,931 (1,162 ) 1,803 (1,246 ) Valuation allowances (454 ) — (467 ) — Total deferred income tax assets (liabilities) $ 1,477 $ (1,162 ) $ 1,336 $ (1,246 )
Net Operating Loss Carryforwards	At December 31, 2016 , 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 2017 $ 9 2018 7 2019 8 2020 75 2021 80 2022 21 2023 18 2024-2036 31 Do not expire 1,956 Total gross carryforwards related to net operating losses $ 2,205
Changes in Amount of Unrecognized Tax Benefits	The changes in the amount of unrecognized tax benefits during 2016 , 2015 and 2014 were as follows: In millions 2016 2015 2014 Beginning balance $ 259 $ 218 $ 268 Additions based on tax positions related to the current year 19 39 23 Additions for tax positions of prior years 126 54 12 Reductions for tax positions of prior years (97 ) (41 ) (59 ) Settlements (96 ) (6 ) (18 ) Foreign currency translation (1 ) (5 ) (8 ) Ending balance $ 210 $ 259 $ 218
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 2012-2016 United Kingdom 2013-2016 Germany 2009-2016 France 2013-2016 Australia 2012-2016

Income Per Share from Continu29

Income Per Share from Continuing Operations (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Computation of Income Per Share from Continuing Operations	The computation of income per share from continuing operations was as follows: In millions except per share amounts 2016 2015 2014 Income from continuing operations $ 2,035 $ 1,899 $ 1,890 Income per share from continuing operations—Basic: Weighted-average common shares 355.0 367.9 401.7 Income per share from continuing operations—Basic $ 5.73 $ 5.16 $ 4.70 Income per share from continuing operations—Diluted: Weighted-average common shares 355.0 367.9 401.7 Effect of dilutive stock options and restricted stock units 2.1 2.2 2.9 Weighted-average common shares assuming dilution 357.1 370.1 404.6 Income per share from continuing operations—Diluted $ 5.70 $ 5.13 $ 4.67

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in the Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the years ended December 31, 2016 and 2015 were as follows: In millions Automotive OEM Test & Measurement and Electronics Food Equipment Polymers & Fluids Welding Construction Products Specialty Products Total 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 2016 activity: Acquisitions & divestitures 187 1 — (2 ) — (1 ) 1 186 Impairment charges — — — — — — — — Foreign currency translation (8 ) (20 ) (10 ) (3 ) (1 ) (7 ) (18 ) (67 ) Balance, December 31, 2016 $ 456 $ 1,336 $ 249 $ 889 $ 260 $ 508 $ 860 $ 4,558 Cumulative goodwill impairment charges, December 31, 2016 $ 24 $ 83 $ 60 $ 15 $ 5 $ 7 $ 46 $ 240
Schedule of Finite-lived Intangible Assets	Intangible assets as of December 31, 2016 and 2015 were as follows: 2016 2015 In millions Cost Accumulated Amortization Net Cost Accumulated Amortization Net Amortizable intangible assets: Customer lists and relationships $ 1,744 $ (1,060 ) $ 684 $ 1,630 $ (943 ) $ 687 Trademarks and brands 733 (344 ) 389 724 (298 ) 426 Patents and proprietary technology 620 (432 ) 188 618 (397 ) 221 Other 461 (444 ) 17 475 (446 ) 29 Total amortizable intangible assets 3,558 (2,280 ) 1,278 3,447 (2,084 ) 1,363 Indefinite-lived intangible assets: Trademarks and brands 185 — 185 197 — 197 Total intangible assets $ 3,743 $ (2,280 ) $ 1,463 $ 3,644 $ (2,084 ) $ 1,560
Schedule of Indefinite-lived Intangible Assets	Intangible assets as of December 31, 2016 and 2015 were as follows: 2016 2015 In millions Cost Accumulated Amortization Net Cost Accumulated Amortization Net Amortizable intangible assets: Customer lists and relationships $ 1,744 $ (1,060 ) $ 684 $ 1,630 $ (943 ) $ 687 Trademarks and brands 733 (344 ) 389 724 (298 ) 426 Patents and proprietary technology 620 (432 ) 188 618 (397 ) 221 Other 461 (444 ) 17 475 (446 ) 29 Total amortizable intangible assets 3,558 (2,280 ) 1,278 3,447 (2,084 ) 1,363 Indefinite-lived intangible assets: Trademarks and brands 185 — 185 197 — 197 Total intangible assets $ 3,743 $ (2,280 ) $ 1,463 $ 3,644 $ (2,084 ) $ 1,560
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 2017 $ 203 2018 184 2019 162 2020 141 2021 123

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Short-term Debt	Short-term debt as of December 31, 2016 and 2015 consisted of the following: In millions 2016 2015 Commercial paper $ — $ 498 Bank overdrafts — 25 Current maturities of long-term debt 650 1 Other borrowings 2 2 Total short-term debt $ 652 $ 526
Schedule of Long-term Debt	Long-term debt at carrying value and fair value as of December 31, 2016 and 2015 consisted of the following: 2016 2015 In millions Effective Interest Rate Carrying Value Fair Value Carrying Value Fair Value 0.90% notes due February 25, 2017 0.95% $ 650 $ 650 $ 649 $ 649 1.95% notes due March 1, 2019 1.98% 648 656 647 655 6.25% notes due April 1, 2019 6.25% 698 768 698 790 4.88% notes due thru December 31, 2020 4.96% 4 4 4 4 3.375% notes due September 15, 2021 3.43% 348 365 347 362 1.75% Euro notes due May 20, 2022 1.86% 520 565 536 564 1.25% Euro notes due May 22, 2023 1.35% 520 549 536 538 3.50% notes due March 1, 2024 3.54% 695 728 695 727 2.65% notes due November 15, 2026 2.69% 991 959 — — 2.125% Euro notes due May 22, 2030 2.18% 519 565 536 530 3.0% Euro notes due May 19, 2034 3.13% 512 618 528 569 4.875% notes due September 15, 2041 4.97% 636 734 635 708 3.9% notes due September 1, 2042 3.96% 1,080 1,114 1,080 1,051 Other borrowings 6 6 6 6 Total $ 7,827 $ 8,281 $ 6,897 $ 7,153 Less: Current maturities of long-term debt (650 ) (1 ) Total long-term debt $ 7,177 $ 6,896
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 2017 $ 650 2018 — 2019 1,346 2020 4 2021 348 2022 and future years 5,479 Total $ 7,827

Pension and Other Postretirem32

Pension and Other Postretirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2016
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 2016 2015 2014 2016 2015 2014 Components of net periodic benefit cost: Service cost $ 62 $ 70 $ 80 $ 9 $ 11 $ 10 Interest cost 92 92 103 24 24 24 Expected return on plan assets (144 ) (151 ) (159 ) (23 ) (25 ) (25 ) Amortization of actuarial (gain) loss 44 60 48 — (1 ) (4 ) Amortization of prior service cost — 1 1 (1 ) 1 1 Settlement/curtailment (gain) loss — — 1 — — (9 ) Total net periodic benefit cost $ 54 $ 72 $ 74 $ 9 $ 10 $ (3 ) Net periodic benefit cost was included in the statement of income as follows: Pension Other Postretirement Benefits In millions 2016 2015 2014 2016 2015 2014 Income from continuing operations $ 54 $ 72 $ 69 $ 9 $ 10 $ 6 Income from discontinued operations — — 5 — — (9 ) Total net periodic benefit cost $ 54 $ 72 $ 74 $ 9 $ 10 $ (3 )
Change in Plan Benefit Obligations	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, 2016 and 2015 : Pension Other Postretirement Benefits In millions 2016 2015 2016 2015 Change in benefit obligation: Benefit obligation at January 1 $ 2,462 $ 2,607 $ 552 $ 591 Service cost 62 70 9 11 Interest cost 92 92 24 24 Plan participants’ contributions 2 3 12 13 Amendments — 1 — — Actuarial (gain) loss 216 (82 ) (5 ) (43 ) Acquisitions and divestitures 7 — — — Benefits paid (150 ) (169 ) (43 ) (46 ) Medicare subsidy received — — 2 2 Foreign currency translation (129 ) (60 ) — — Benefit obligation at December 31 $ 2,562 $ 2,462 $ 551 $ 552
Change in Plan Assets and Reconciliation of Funded Status	Pension Other Postretirement Benefits In millions 2016 2015 2016 2015 Change in plan assets: Fair value of plan assets at January 1 $ 2,441 $ 2,557 $ 342 $ 372 Actual return on plan assets 274 16 36 (3 ) Company contributions 70 97 4 6 Plan participants’ contributions 2 3 12 13 Benefits paid (150 ) (169 ) (43 ) (46 ) Foreign currency translation (150 ) (63 ) — — Fair value of plan assets at December 31 $ 2,487 $ 2,441 $ 351 $ 342 Funded status $ (75 ) $ (21 ) $ (200 ) $ (210 ) Other immaterial plans (58 ) (50 ) (5 ) (5 ) Net liability at December 31 $ (133 ) $ (71 ) $ (205 ) $ (215 ) The amounts recognized in the statement of financial position as of December 31 consist of: Other assets $ 131 $ 191 $ — $ — Accrued expenses (12 ) (11 ) (4 ) (4 ) Other noncurrent liabilities (252 ) (251 ) (201 ) (211 ) Net liability at end of year $ (133 ) $ (71 ) $ (205 ) $ (215 ) The pre-tax amounts recognized in accumulated other comprehensive income consist of: Net actuarial (gain) loss $ 673 $ 631 $ (38 ) $ (20 ) Prior service cost — — — (1 ) $ 673 $ 631 $ (38 ) $ (21 ) Accumulated benefit obligation $ 2,207 $ 2,297 Plans with accumulated benefit obligation in excess of plan assets as of December 31: Projected benefit obligation $ 183 $ 164 Accumulated benefit obligation $ 167 $ 152 Fair value of plan assets $ 25 $ 25
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 2016 2015 2014 2016 2015 2014 Assumptions used to determine benefit obligations at December 31: Discount rate 3.41 % 3.95 % 3.70 % 4.30 % 4.55 % 4.15 % Rate of compensation increases 3.77 % 3.72 % 3.72 % — % — % — % Assumptions used to determine net periodic benefit cost for years ended December 31: Discount rate 3.95 % 3.70 % 4.32 % 4.55 % 4.15 % 4.95 % Expected return on plan assets 6.22 % 6.54 % 7.02 % 7.00 % 7.00 % 7.00 % Rate of compensation increases 3.72 % 3.72 % 3.72 % — % — % — %
Assumed Health Care Cost Trend Rates	The assumed health care cost trend rates used to determine the postretirement benefit obligation at December 31 were as follows: 2016 2015 2014 Health care cost trend rate assumed for the next year 6.00 % 6.00 % 8.00 % Ultimate trend rate 4.50 % 4.50 % 4.50 % Year the rate reaches the ultimate trend rate 2023 2021 2022
Impact of One Percentage-point Change in Assumed Health Care Costs 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 2016 $ — $ (1 ) Change in postretirement benefit obligation at December 31, 2016 $ 6 $ (14 )
Benefit Plan Assets by Category and Valuation Methodology	The following tables present the fair value of the Company’s pension and other postretirement benefit plan assets at December 31, 2016 and 2015 , 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. 2016 In millions Total Level 1 Level 2 Level 3 Pension Plan Assets: Cash and equivalents $ 82 $ 55 $ 27 $ — Equity securities: Domestic 1 1 — — Fixed income securities: Government securities 307 — 307 — Corporate debt securities 541 — 541 — Mortgage-backed securities 19 — 19 — Investment contracts with insurance companies 1 — — 1 Commingled funds: Collective trust funds 1,478 Partnerships/private equity interests 54 Other 4 Total fair value of pension plan assets $ 2,487 $ 56 $ 894 $ 1 Other Postretirement Benefit Plan Assets: Cash and equivalents $ 1 $ 1 $ — $ — Life insurance policies 350 Total fair value of other postretirement benefit plan assets $ 351 $ 1 $ — $ — 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 ) — Total fair value of pension plan assets $ 2,441 $ 261 $ 766 $ 1 Other Postretirement Benefit Plan Assets: Cash and equivalents $ 8 $ 8 $ — $ — Life insurance policies 334 Total fair value of other postretirement benefit plan assets $ 342 $ 8 $ — $ —
Expected Benefit Payments	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 2017 $ 182 $ 35 2018 181 36 2019 183 37 2020 185 38 2021 184 38 Years 2022-2026 882 193

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Lease Payments	Future minimum lease payments under non-cancelable leases for the years ending December 31 are as follows: In millions 2017 $ 104 2018 75 2019 53 2020 37 2021 26 2022 and future years 43 Total future minimum lease payments $ 338

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss)	The changes in accumulated other comprehensive income (loss) during 2016 , 2015 and 2014 were as follows: In millions 2016 2015 2014 Beginning balance $ (1,504 ) $ (658 ) $ 384 Foreign currency translation adjustments during the period (251 ) (800 ) (806 ) Foreign currency translation adjustments reclassified to income (1 ) — (133 ) Income taxes (25 ) (60 ) — Total foreign currency translation adjustments, net of tax (277 ) (860 ) (939 ) Pension and other postretirement benefit adjustments during the period (67 ) (41 ) (224 ) Pension and other postretirement benefit adjustments reclassified to income 43 61 54 Income taxes (2 ) (6 ) 67 Total pension and other postretirement benefit adjustments, net of tax (26 ) 14 (103 ) Ending balance $ (1,807 ) $ (1,504 ) $ (658 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2016
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 2016 2015 2014 Pre-tax compensation expense $ 39 $ 35 $ 34 Tax benefit (13 ) (12 ) (12 ) Total stock-based compensation expense, net of tax $ 26 $ 23 $ 22
Summary of Activity Related to Non-vested RSUs	The following table summarizes activity related to non-vested RSUs during 2016 : Shares in millions Number of Shares Weighted-Average Grant-Date Fair Value Unvested, January 1, 2016 0.8 $73.58 Granted 0.3 85.61 Vested (0.3 ) 61.14 Canceled (0.1 ) 83.12 Unvested, December 31, 2016 0.7 83.39
Summary of Stock Option Activity	The following table summarizes stock option activity for the year ended December 31, 2016 : 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, 2016 6.4 $61.44 Granted 0.6 91.88 Exercised (1.6 ) 50.66 Canceled or expired (0.1 ) 87.15 Under option, December 31, 2016 5.3 68.05 5.9 $290 Exercisable, December 31, 2016 3.7 59.72 4.9 $232
Summary of Assumptions Used in Options Pricing Model	The following summarizes the assumptions used in the models: 2016 2015 2014 Risk-free interest rate 0.56-1.86% 0.23-2.25% 0.16-2.83% Weighted-average volatility 24.0% 23.0% 22.9% Dividend yield 2.12% 2.11% 2.46% Expected years until exercise 6.9-7.7 6.9-8.0 6.7-7.9

Other Balance Sheet Informati36

Other Balance Sheet Information (Tables)	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other Balance Sheet Information	Other balance sheet information at December 31, 2016 and 2015 was as follows: In millions 2016 2015 Prepaid expenses and other current assets: Value-added-tax receivables $ 55 $ 48 Income tax refunds receivable 21 147 Vendor advances 20 22 Other 122 124 Total prepaid expenses and other current assets $ 218 $ 341 Other assets: Cash surrender value of life insurance policies $ 442 $ 428 Customer tooling 146 88 Prepaid pension assets 131 191 Investments 73 99 Equity investment in Wilsonart (See Note 4) — 113 Other 164 168 Total other assets $ 956 $ 1,087 Accrued expenses: Compensation and employee benefits $ 379 $ 363 Deferred revenue and customer deposits 180 169 Rebates 144 125 Warranties 45 46 Current portion of pension and other postretirement benefit obligations 16 15 Other 438 418 Total accrued expenses $ 1,202 $ 1,136 Other liabilities: Pension benefit obligation $ 252 $ 251 Postretirement benefit obligation 201 211 Other 418 519 Total other liabilities $ 871 $ 981

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment information	Segment information for 2016 , 2015 and 2014 was as follows: In millions 2016 2015 2014 Operating revenue: Automotive OEM $ 2,864 $ 2,529 $ 2,590 Food Equipment 2,110 2,096 2,177 Test & Measurement and Electronics 1,974 1,969 2,204 Welding 1,486 1,650 1,850 Polymers & Fluids 1,691 1,712 1,927 Construction Products 1,609 1,587 1,707 Specialty Products 1,885 1,885 2,055 Intersegment revenue (20 ) (23 ) (26 ) Total $ 13,599 $ 13,405 $ 14,484 Operating income: Automotive OEM $ 690 $ 613 $ 600 Food Equipment 537 498 453 Test & Measurement and Electronics 372 322 340 Welding 370 415 479 Polymers & Fluids 343 335 357 Construction Products 361 316 289 Specialty Products 482 439 440 Total Segments 3,155 2,938 2,958 Unallocated (91 ) (71 ) (70 ) Total $ 3,064 $ 2,867 $ 2,888 Depreciation and amortization and impairment of intangible assets: Automotive OEM $ 90 $ 76 $ 79 Food Equipment 45 48 52 Test & Measurement and Electronics 104 110 115 Welding 36 37 38 Polymers & Fluids 92 95 99 Construction Products 34 36 43 Specialty Products 69 75 81 Total $ 470 $ 477 $ 507 Plant and equipment additions: Automotive OEM $ 116 $ 106 $ 96 Food Equipment 31 37 47 Test & Measurement and Electronics 25 32 56 Welding 16 23 36 Polymers & Fluids 18 20 28 Construction Products 20 26 41 Specialty Products 47 40 54 Total Segments 273 284 358 Discontinued Operations — — 3 Total $ 273 $ 284 $ 361 Identifiable assets: Automotive OEM $ 2,051 $ 1,419 $ 1,454 Food Equipment 1,013 1,054 1,123 Test & Measurement and Electronics 2,362 2,448 2,615 Welding 701 747 879 Polymers & Fluids 2,019 2,034 2,257 Construction Products 1,099 1,129 1,249 Specialty Products 1,599 1,659 1,798 Total Segments 10,844 10,490 11,375 Corporate 4,357 5,239 6,090 Total $ 15,201 $ 15,729 $ 17,465
Enterprise-wide Information	Enterprise-wide information for 2016 , 2015 and 2014 was as follows: In millions 2016 2015 2014 Operating Revenue by Geographic Region: United States $ 6,176 $ 6,167 $ 6,191 Canada/Mexico 923 928 993 Total North America 7,099 7,095 7,184 Europe, Middle East and Africa 3,787 3,725 4,319 Asia Pacific 2,361 2,197 2,427 South America 352 388 554 Total Operating Revenue $ 13,599 $ 13,405 $ 14,484

Selected Quarterly Financial 38

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Three Months Ended March 31 June 30 September 30 December 31 In millions except per share amounts 2016 2015 2016 2015 2016 2015 2016 2015 Operating revenue $ 3,274 $ 3,342 $ 3,431 $ 3,434 $ 3,495 $ 3,354 $ 3,399 $ 3,275 Cost of revenue 1,896 1,970 1,967 2,024 2,027 1,953 2,006 1,941 Operating income 722 697 792 730 808 761 742 679 Net income 468 458 525 480 535 511 507 450 Net income per share: Basic 1.29 1.22 1.47 1.31 1.51 1.40 1.46 1.24 Diluted 1.29 1.21 1.46 1.30 1.50 1.39 1.45 1.23

Description of Business and S39

Description of Business and Summary of Significant Accounting Policies - Trade Receivables (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Changes in Allowances for Uncollectible Accounts
Beginning balance	$ 42	$ 43	$ 46
Provision charged to expense	7	7	7
Write-offs, net of recoveries	(6)	(5)	(7)
Acquisitions and divestitures	1	0	0
Foreign currency translation	(1)	(3)	(3)
Ending balance	$ 43	$ 42	$ 43

Description of Business and S40

Description of Business and Summary of Significant Accounting Policies - Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Inventory, Net [Abstract]
Raw material	$ 407	$ 415
Work-in-process	126	130
Finished goods	629	622
LIFO reserve	(86)	(81)
Total inventories	$ 1,076	$ 1,086

Description of Business and S41

Description of Business and Summary of Significant Accounting Policies - Net Plant and Equipment Components (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Land	$ 186	$ 179
Buildings and improvements	1,297	1,272
Machinery and equipment	3,036	2,972
Equipment leased to others	160	156
Construction in progress	104	76
Gross plant and equipment	4,783	4,655
Accumulated depreciation	(3,131)	(3,078)
Net plant and equipment	$ 1,652	$ 1,577

Description of Business and S42

Description of Business and Summary of Significant Accounting Policies - Net Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2016
Minimum | Buildings and Improvements
Property, Plant and Equipment [Line Items]
Plant and equipment, useful life	5 years
Minimum | Machinery and Equipment
Property, Plant and Equipment [Line Items]
Plant and equipment, useful life	3 years
Maximum | Buildings and Improvements
Property, Plant and Equipment [Line Items]
Plant and equipment, useful life	50 years
Maximum | Machinery and Equipment
Property, Plant and Equipment [Line Items]
Plant and equipment, useful life	12 years

Description of Business and S43

Description of Business and Summary of Significant Accounting Policies - Accrued Warranties (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Changes in Accrued Product Warranties
Beginning balance	$ 46	$ 49	$ 50
Charges	(41)	(37)	(41)
Provision charged to expense	42	36	43
Acquisitions and divestitures	1	0	0
Foreign currency translation	(3)	(2)	(3)
Ending balance	$ 45	$ 46	$ 49

Description of Business and S44

Description of Business and Summary of Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2016USD ($)Countrydivision	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Finite-Lived Intangible Assets [Line Items]
Number of company divisions | division	85
Number of countries with Company operations | Country	57
Research and development expenses	$ 223,000,000	$ 218,000,000	$ 227,000,000
Advertising expenses	$ 58,000,000	$ 58,000,000	66,000,000
Percentage of total inventories priced at LIFO	22.00%	22.00%
LIFO reserve	$ 86,000,000	$ 81,000,000
Depreciation included in income from continuing operations	246,000,000	244,000,000	262,000,000
Depreciation included in income from discontinued operations			0
Excess tax benefits from stock-based compensation	$ 29,000,000	$ 20,000,000	$ 33,000,000
Minimum
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible asset, useful life	3 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible asset, useful life	20 years

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations	$ 0	$ 0	$ 1,056
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 - Narra

Discontinued Operations - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	May 01, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain on sale of a discontinued operation	$ 0	$ 0	$ 1,718
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 on sale of a discontinued operation			1,700
After-tax gain on sale of discontinued operations			1,100
Effective income tax rate reconciliation, repatriation of foreign earnings, amount			175
Foreign earnings repatriated			$ 1,300

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions	Jul. 01, 2016	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Net cash paid for acquisitions			$ 453	$ 6	$ 45
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Net cash paid for acquisitions			453	$ 6	$ 45
Engineered Fasteners and Components
Business Acquisition [Line Items]
Net cash paid for acquisitions	$ 450
Operating revenue		$ 245
Goodwill acquired	187
Acquired goodwill expected to be tax deductible		$ 104	$ 104
Minimum
Business Acquisition [Line Items]
Amortizable intangible asset, useful life			3 years
Maximum
Business Acquisition [Line Items]
Amortizable intangible asset, useful life			20 years
Customer Relationships and Technology | Engineered Fasteners and Components
Business Acquisition [Line Items]
Intangible assets acquired	$ 135
Customer Relationships and Technology | Minimum | Engineered Fasteners and Components
Business Acquisition [Line Items]
Amortizable intangible asset, useful life	4 years
Customer Relationships and Technology | Maximum | Engineered Fasteners and Components
Business Acquisition [Line Items]
Amortizable intangible asset, useful life	17 years
Intangible assets acquired, estimated useful lives	16 years

Other Income (Expense) (Details

Other Income (Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other Nonoperating Income (Expense) [Abstract]
Interest income	$ 38	$ 52	$ 65
Gain (loss) on disposal of operations and affiliates	(12)	16	(6)
Gain (loss) on foreign currency transactions, net	9	5	8
Income (loss) from investments	(13)	4	8
Equity income (loss) in Wilsonart	61	(4)	(9)
Other, net	(2)	5	(5)
Total other income (expense)	$ 81	$ 78	$ 61

Other Income (Expense) - Narrat

Other Income (Expense) - Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2012
Schedule of Equity Method Investments [Line Items]
Pre-tax gain from dividends in excess of equity investment		$ 54,000,000	$ 0	$ 0
Cash dividend distribution		167,000,000	0	$ 0
Equity method investment	$ 0	$ 0	$ 113,000,000
Decorative Surfaces
Schedule of Equity Method Investments [Line Items]
Percentage of segment divested					51.00%
Wilsonart International Holdings LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage	49.00%	49.00%
Preferred units owned by other party	51.00%	51.00%
Pre-tax gain from dividends in excess of equity investment	$ 54,000,000
Cash dividend distribution	167,000,000
Equity method investment	$ 0	$ 0
Cumulative Convertible Participating Preferred Units | Wilsonart International Holdings LLC
Schedule of Equity Method Investments [Line Items]
Dividend rate for preferred units		10.00%

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
U.S. federal income taxes:
Current	$ 756	$ 503	$ 413
Deferred	(224)	8	121
Total U.S. federal income taxes	532	511	534
Foreign income taxes:
Current	290	310	163
Deferred	(5)	(11)	66
Benefit of net operating loss carryforwards	0	(48)	(13)
Total foreign income taxes	285	251	216
State income taxes:
Current	90	66	50
Deferred	(34)	(8)	9
Total state income taxes	56	58	59
Total provision for income taxes	$ 873	$ 820	$ 809

Income Taxes - Income from Cont

Income Taxes - Income from Continuing Opearations Before Income Taxes and Tax Rate Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income from Continuing Operations Before Income Taxes
Domestic	$ 1,653	$ 1,660	$ 1,669
Foreign	1,255	1,059	1,030
Income from Continuing Operations Before Income Taxes	$ 2,908	$ 2,719	$ 2,699
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	1.30%	1.40%	1.60%
Differences between U.S. federal statutory and foreign tax rates	(3.60%)	(3.10%)	(3.50%)
Nontaxable foreign interest income	(2.10%)	(3.30%)	(3.60%)
Tax effect of foreign dividends	1.50%	2.80%	2.10%
Tax relief for U.S. manufacturers	(1.40%)	(1.60%)	(1.50%)
Other, net	(0.70%)	(1.10%)	(0.10%)
Effective tax rate	30.00%	30.10%	30.00%

Income Taxes - Deferred Income

Income Taxes - Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Deferred Income Tax Assets
Goodwill and intangible assets	$ 240	$ 282
Inventory reserves, capitalized tax cost and LIFO inventory	40	42
Investments	23	25
Plant and equipment	23	28
Accrued expenses and reserves	76	79
Employee benefit accruals	306	314
Foreign tax credit carryforwards	6	216
Net operating loss carryforwards	610	643
Capital loss carryforwards	42	39
Allowances for uncollectible accounts	13	13
Pension liabilities	25	13
Deferred intercompany deductions	430	0
Other	97	109
Gross deferred income tax assets	1,931	1,803
Valuation allowances	(454)	(467)
Total deferred income tax assets	1,477	1,336
Deferred Income Tax Liabilities
Goodwill and intangible assets	(716)	(734)
Inventory reserves, capitalized tax cost and LIFO inventory	(5)	(5)
Investments	(206)	(298)
Plant and equipment	(79)	(84)
Unrealized loss (gain) on foreign debt instruments	(140)	(115)
Other	(16)	(10)
Gross deferred income tax liabilities	$ (1,162)	$ (1,246)

Income Taxes - Net Operating Lo

Income Taxes - Net Operating Loss Carryforwards (Details) $ in Millions	Dec. 31, 2016USD ($)
Operating Loss Carryforwards [Line Items]
Total gross carryforwards related to net operating losses	$ 2,205
2,017
Operating Loss Carryforwards [Line Items]
Total gross carryforwards related to net operating losses	9
2,018
Operating Loss Carryforwards [Line Items]
Total gross carryforwards related to net operating losses	7
2,019
Operating Loss Carryforwards [Line Items]
Total gross carryforwards related to net operating losses	8
2,020
Operating Loss Carryforwards [Line Items]
Total gross carryforwards related to net operating losses	75
2,021
Operating Loss Carryforwards [Line Items]
Total gross carryforwards related to net operating losses	80
2,022
Operating Loss Carryforwards [Line Items]
Total gross carryforwards related to net operating losses	21
2,023
Operating Loss Carryforwards [Line Items]
Total gross carryforwards related to net operating losses	18
2024-2036
Operating Loss Carryforwards [Line Items]
Total gross carryforwards related to net operating losses	31
Do not expire
Operating Loss Carryforwards [Line Items]
Total gross carryforwards related to net operating losses	$ 1,956

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Changes in the amount of unrecognized tax benefits
Beginning balance		$ 259	$ 218	$ 268
Additions based on tax positions related to the current year		19	39	23
Additions for tax positions of prior years		126	54	12
Reductions for tax positions of prior years		(97)	(41)	(59)
Settlements	$ (96)	(96)	(6)	(18)
Foreign currency translation		(1)	(5)	(8)
Ending balance	$ 210	$ 210	$ 259	$ 218

Income Taxes - Open Tax Years (

Income Taxes - Open Tax Years (Details)	12 Months Ended
	Dec. 31, 2016
Minimum | United States – Federal
Income Tax Contingency [Line Items]
Open tax years by major tax jurisdiction	2,012
Minimum | United Kingdom
Income Tax Contingency [Line Items]
Open tax years by major tax jurisdiction	2,013
Minimum | Germany
Income Tax Contingency [Line Items]
Open tax years by major tax jurisdiction	2,009
Minimum | France
Income Tax Contingency [Line Items]
Open tax years by major tax jurisdiction	2,013
Minimum | Australia
Income Tax Contingency [Line Items]
Open tax years by major tax jurisdiction	2,012
Maximum | United States – Federal
Income Tax Contingency [Line Items]
Open tax years by major tax jurisdiction	2,016
Maximum | United Kingdom
Income Tax Contingency [Line Items]
Open tax years by major tax jurisdiction	2,016
Maximum | Germany
Income Tax Contingency [Line Items]
Open tax years by major tax jurisdiction	2,016
Maximum | France
Income Tax Contingency [Line Items]
Open tax years by major tax jurisdiction	2,016
Maximum | Australia
Income Tax Contingency [Line Items]
Open tax years by major tax jurisdiction	2,016

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	Feb. 18, 2014	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Undistributed earnings of international subsidiaries		$ 8,800,000,000	$ 8,800,000,000	$ 8,700,000,000
Unrecognized tax benefits that would impact effective tax rate		176,000,000	176,000,000
Decrease in unrecognized tax benefits, settlements		96,000,000	96,000,000	6,000,000	$ 18,000,000
Possible decrease in unrecognized tax benefits resulting from ongoing audits			57,000,000
Accrual for interest and penalties related to income tax matters		28,000,000	28,000,000	32,000,000
Income Tax Examination [Line Items]
Unrecognized tax benefit		210,000,000	210,000,000	$ 259,000,000	$ 218,000,000	$ 268,000,000
Tax Year 2006 | Internal Revenue Service (IRS)
Income Tax Examination [Line Items]
Assessment of additional taxes	$ 70,000,000
Return of Capital Under Examination
Income Tax Examination [Line Items]
Unrecognized tax benefit		$ 0	$ 0

Income Per Share from Continu57

Income Per Share from Continuing Operations (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Income from continuing operations	$ 2,035	$ 1,899	$ 1,890
Income per share from continuing operations—Basic:
Weighted-average common shares (in shares)	355	367.9	401.7
Income per share from continuing operations—Basic (in dollars per share)	$ 5.73	$ 5.16	$ 4.70
Income per share from continuing operations—Diluted:
Weighted-average common shares (in shares)	355	367.9	401.7
Effect of dilutive stock options and restricted stock units (in shares)	2.1	2.2	2.9
Weighted-average common shares assuming dilution (in shares)	357.1	370.1	404.6
Income per share from continuing operations—Diluted (in dollars per share)	$ 5.70	$ 5.13	$ 4.67

Income Per Share from Continu58

Income Per Share from Continuing Operations - Narrative (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Antidilutive options outstanding (in shares)	0	600,000	0

Goodwill and Intangible Asset59

Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Changes in the carrying amount of goodwill by segment
Balance, beginning	$ 4,439	$ 4,667
Acquisitions & divestitures	186	(5)
Impairment charges	0	0
Foreign currency translation	(67)	(223)
Balance, ending	4,558	4,439
Cumulative goodwill impairment charges, December 31, 2016	240
Automotive OEM
Changes in the carrying amount of goodwill by segment
Balance, beginning	277	294
Acquisitions & divestitures	187	0
Impairment charges	0	0
Foreign currency translation	(8)	(17)
Balance, ending	456	277
Cumulative goodwill impairment charges, December 31, 2016	24
Test & Measurement and Electronics
Changes in the carrying amount of goodwill by segment
Balance, beginning	1,355	1,390
Acquisitions & divestitures	1	0
Impairment charges	0	0
Foreign currency translation	(20)	(35)
Balance, ending	1,336	1,355
Cumulative goodwill impairment charges, December 31, 2016	83
Food Equipment
Changes in the carrying amount of goodwill by segment
Balance, beginning	259	276
Acquisitions & divestitures	0	0
Impairment charges	0	0
Foreign currency translation	(10)	(17)
Balance, ending	249	259
Cumulative goodwill impairment charges, December 31, 2016	60
Polymers & Fluids
Changes in the carrying amount of goodwill by segment
Balance, beginning	894	964
Acquisitions & divestitures	(2)	(6)
Impairment charges	0	0
Foreign currency translation	(3)	(64)
Balance, ending	889	894
Cumulative goodwill impairment charges, December 31, 2016	15
Welding
Changes in the carrying amount of goodwill by segment
Balance, beginning	261	277
Acquisitions & divestitures	0	1
Impairment charges	0	0
Foreign currency translation	(1)	(17)
Balance, ending	260	261
Cumulative goodwill impairment charges, December 31, 2016	5
Construction Products
Changes in the carrying amount of goodwill by segment
Balance, beginning	516	542
Acquisitions & divestitures	(1)	0
Impairment charges	0	0
Foreign currency translation	(7)	(26)
Balance, ending	508	516
Cumulative goodwill impairment charges, December 31, 2016	7
Specialty Products
Changes in the carrying amount of goodwill by segment
Balance, beginning	877	924
Acquisitions & divestitures	1	0
Impairment charges	0	0
Foreign currency translation	(18)	(47)
Balance, ending	860	$ 877
Cumulative goodwill impairment charges, December 31, 2016	$ 46

Goodwill and Intangible Asset60

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Amortizable intangible assets:
Amortizable intangible assets, Cost	$ 3,558	$ 3,447
Amortizable intangible assets, Accumulated Amortization	(2,280)	(2,084)
Amortizable intangible assets, Net	1,278	1,363
Total intangible assets, Cost	3,743	3,644
Total intangible assets, Net	1,463	1,560
Trademarks and brands
Indefinite-lived intangible assets:
Indefinite-lived intangible assets	185	197
Customer lists and relationships
Amortizable intangible assets:
Amortizable intangible assets, Cost	1,744	1,630
Amortizable intangible assets, Accumulated Amortization	(1,060)	(943)
Amortizable intangible assets, Net	684	687
Trademarks and brands
Amortizable intangible assets:
Amortizable intangible assets, Cost	733	724
Amortizable intangible assets, Accumulated Amortization	(344)	(298)
Amortizable intangible assets, Net	389	426
Patents and proprietary technology
Amortizable intangible assets:
Amortizable intangible assets, Cost	620	618
Amortizable intangible assets, Accumulated Amortization	(432)	(397)
Amortizable intangible assets, Net	188	221
Other
Amortizable intangible assets:
Amortizable intangible assets, Cost	461	475
Amortizable intangible assets, Accumulated Amortization	(444)	(446)
Amortizable intangible assets, Net	$ 17	$ 29

Goodwill and Intangible Asset61

Goodwill and Intangible Assets - Estimated Future Amortization Expense (Details 4) $ in Millions	Dec. 31, 2016USD ($)
Estimated amortization expense of intangible assets
2,017	$ 203
2,018	184
2,019	162
2,020	141
2,021	$ 123

Goodwill and Intangible Asset62

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Goodwill and Intangible Assets [Line Items]
Goodwill and indefinite-lived asset impairment charges	$ 0
Amortization expense and impairment of intangible assets	$ 224,000,000	$ 233,000,000	$ 245,000,000
Polymers & Fluids and Test & Measurement and Electronics
Goodwill and Intangible Assets [Line Items]
Indefinite-lived intangible asset impairment			3,000,000
Indefinite-lived intangible assets, fair value			8,000,000
Indefinite-lived intangible assets, carrying value			$ 11,000,000
Polymers and Fluids
Goodwill and Intangible Assets [Line Items]
Indefinite-lived intangible asset impairment		2,000,000
Indefinite-lived intangible assets, fair value		24,000,000
Indefinite-lived intangible assets, carrying value		$ 26,000,000

Debt - Short-term Debt (Details

Debt - Short-term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Commercial paper	$ 0	$ 498
Bank overdrafts	0	25
Current maturities of long-term debt	650	1
Other borrowings	2	2
Total short-term debt	$ 652	$ 526

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2016	Nov. 30, 2016	Dec. 31, 2015	May 31, 2015	May 31, 2014	Feb. 28, 2014	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2009	Dec. 31, 2005
Debt Instrument [Line Items]
Long-term debt including current maturities	$ 7,827		$ 6,897
Long-term debt including current maturities, fair value	8,281		7,153
Less: Current maturities of long-term debt	(650)		(1)
Long-term debt, excluding current maturities	7,177		6,896
Other borrowings
Debt Instrument [Line Items]
Long-term debt including current maturities	6		6
Long-term debt including current maturities, fair value	$ 6		6
0.90% notes due February 25, 2017 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	0.90%					0.90%
Effective interest rate	0.95%
Long-term debt including current maturities	$ 650		649
Long-term debt including current maturities, fair value	$ 650		649
1.95% notes due March 1, 2019 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	1.95%					1.95%
Effective interest rate	1.98%
Long-term debt including current maturities	$ 648		647
Long-term debt including current maturities, fair value	$ 656		655
6.25% notes due April 1, 2019 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	6.25%								6.25%
Effective interest rate	6.25%
Long-term debt including current maturities	$ 698		698
Long-term debt including current maturities, fair value	$ 768		790
4.88% notes due thru December 31, 2020 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	4.88%									4.88%
Effective interest rate	4.96%
Long-term debt including current maturities	$ 4		4
Long-term debt including current maturities, fair value	$ 4		4
3.375% notes due September 15, 2021 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	3.375%							3.375%
Effective interest rate	3.43%
Long-term debt including current maturities	$ 348		347
Long-term debt including current maturities, fair value	$ 365		362
1.75% Euro notes due May 20, 2022 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	1.75%				1.75%
Effective interest rate	1.86%
Long-term debt including current maturities	$ 520		536
Long-term debt including current maturities, fair value	$ 565		564
1.25% Euro notes due May 22, 2023 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	1.25%			1.25%
Effective interest rate	1.35%
Long-term debt including current maturities	$ 520		536
Long-term debt including current maturities, fair value	$ 549		538
3.50% notes due March 1, 2024 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	3.50%					3.50%
Effective interest rate	3.54%
Long-term debt including current maturities	$ 695		695
Long-term debt including current maturities, fair value	$ 728		727
2.65% notes due November 15, 2026 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	2.65%	2.65%
Effective interest rate	2.69%
Long-term debt including current maturities	$ 991		0
Long-term debt including current maturities, fair value	$ 959		0
2.125% Euro notes due May 22, 3030 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	2.125%			2.125%
Effective interest rate	2.18%
Long-term debt including current maturities	$ 519		536
Long-term debt including current maturities, fair value	$ 565		530
3.0% Euro notes due May 19, 2034 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	3.00%				3.00%
Effective interest rate	3.13%
Long-term debt including current maturities	$ 512		528
Long-term debt including current maturities, fair value	$ 618		569
4.875% notes due September 15, 2041 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	4.875%							4.875%
Effective interest rate	4.97%
Long-term debt including current maturities	$ 636		635
Long-term debt including current maturities, fair value	$ 734		708
3.9% notes due September 1, 2042 | Unsecured debt
Debt Instrument [Line Items]
Interest rate, stated percentage	3.90%						3.90%
Effective interest rate	3.96%
Long-term debt including current maturities	$ 1,080		1,080
Long-term debt including current maturities, fair value	$ 1,114		$ 1,051

Debt - Maturities of Long-term

Debt - Maturities of Long-term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Scheduled maturities of long-term debt
2,017	$ 650
2,018	0
2,019	1,346
2,020	4
2,021	348
2022 and future years	5,479
Long-term debt including current maturities	$ 7,827	$ 6,897

Debt - Narrative (Details)

Debt - Narrative (Details)

3 Months Ended

Jun. 30, 2016USD ($)

Dec. 31, 2016USD ($)

Nov. 30, 2016USD ($)

Mar. 31, 2016USD ($)

Dec. 31, 2015USD ($)

May 31, 2015EUR (€)

May 31, 2014EUR (€)

Feb. 28, 2014USD ($)

Dec. 31, 2012USD ($)

Dec. 31, 2011USD ($)

Dec. 31, 2009USD ($)

Dec. 31, 2005USD ($)

Line of Credit Facility [Line Items]

Long-term debt

$ 7,177,000,000

$ 6,896,000,000

Short-term debt

$ 652,000,000

$ 526,000,000

0.90% notes due February 25, 2017 | Unsecured debt

Line of Credit Facility [Line Items]

Interest rate, stated percentage

0.90%

0.90%

Face value of notes

$ 650,000,000

Notes issued, percentage of face value

99.861%

Line of credit terminating May 9, 2021

Line of Credit Facility [Line Items]

Line of credit, maximum borrowing capacity

$ 2,500,000,000

Debt Instrument, Term

5 years

Line of credit, amounts outstanding

$ 0

Line of credit terminating June 8, 2017

Line of Credit Facility [Line Items]

Line of credit, maximum borrowing capacity

$ 1,500,000,000

Line of credit terminating August 15, 2018

Line of Credit Facility [Line Items]

Line of credit, maximum borrowing capacity

$ 1,000,000,000

4.88% notes due thru December 31, 2020 | Unsecured debt

Line of Credit Facility [Line Items]

Interest rate, stated percentage

4.88%

4.88%

Face value of notes

$ 54,000,000

Notes issued, percentage of face value

100.00%

6.25% notes due April 1, 2019 | Unsecured debt

Line of Credit Facility [Line Items]

Interest rate, stated percentage

6.25%

6.25%

Face value of notes

$ 700,000,000

Notes issued, percentage of face value

99.98%

3.375% notes due September 15, 2021 | Unsecured debt

Line of Credit Facility [Line Items]

Interest rate, stated percentage

3.375%

3.375%

Face value of notes

$ 350,000,000

Notes issued, percentage of face value

99.552%

4.875% notes due September 15, 2041 | Unsecured debt

Line of Credit Facility [Line Items]

Interest rate, stated percentage

4.875%

4.875%

Face value of notes

$ 650,000,000

Notes issued, percentage of face value

98.539%

3.9% notes due September 1, 2042 | Unsecured debt

Line of Credit Facility [Line Items]

Interest rate, stated percentage

3.90%

3.90%

Face value of notes

$ 1,100,000,000

Notes issued, percentage of face value

99.038%

1.95% notes due March 1, 2019 | Unsecured debt

Line of Credit Facility [Line Items]

Interest rate, stated percentage

1.95%

1.95%

Face value of notes

$ 650,000,000

Notes issued, percentage of face value

99.871%

3.50% notes due March 1, 2024 | Unsecured debt

Line of Credit Facility [Line Items]

Interest rate, stated percentage

3.50%

3.50%

Face value of notes

$ 700,000,000

Notes issued, percentage of face value

99.648%

1.75% Euro notes due May 20, 2022 | Unsecured debt

Line of Credit Facility [Line Items]

Interest rate, stated percentage

1.75%

1.75%

Face value of notes | €

€ 500,000,000

Notes issued, percentage of face value

99.16%

3.0% Euro notes due May 19, 2034 | Unsecured debt

Line of Credit Facility [Line Items]

Interest rate, stated percentage

3.00%

3.00%

Face value of notes | €

€ 500,000,000

Notes issued, percentage of face value

98.089%

1.25% Euro notes due May 22, 2023 | Unsecured debt

Line of Credit Facility [Line Items]

Interest rate, stated percentage

1.25%

1.25%

Face value of notes | €

€ 500,000,000

Notes issued, percentage of face value

99.239%

2.125% Euro notes due May 22, 3030 | Unsecured debt

Line of Credit Facility [Line Items]

Interest rate, stated percentage

2.125%

2.125%

Face value of notes | €

€ 500,000,000

Notes issued, percentage of face value

99.303%

2.65% notes due November 15, 2026 | Unsecured debt

Line of Credit Facility [Line Items]

Interest rate, stated percentage

2.65%

2.65%

Face value of notes

$ 1,000,000,000

Notes issued, percentage of face value

99.685%

Net investment hedging | Unsecured debt

Line of Credit Facility [Line Items]

Face value of notes | €

€ 1,000,000,000

€ 1,000,000,000

Commercial paper

Line of Credit Facility [Line Items]

Weighted average interest rate

0.40%

0.10%

Scenario, adjustment | 0.90% notes due February 25, 2017 | Unsecured debt

Line of Credit Facility [Line Items]

Long-term debt

$ (650,000,000)

Short-term debt

650,000,000

Line of credit | International debt facilities

Line of Credit Facility [Line Items]

Unused capacity under international debt facilities

$ 286,000,000

Pension and Other Postretirem67

Pension and Other Postretirement Benefits - Benefit Costs (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net periodic benefit costs included in the statement of income
Income from continuing operations									$ 2,035	$ 1,899	$ 1,890
Income from Discontinued Operations									0	0	1,056
Net Income	$ 507	$ 535	$ 525	$ 468	$ 450	$ 511	$ 480	$ 458	2,035	1,899	2,946
Pension
Components of net periodic benefit cost:
Service cost									62	70	80
Interest cost									92	92	103
Expected return on plan assets									(144)	(151)	(159)
Amortization of actuarial (gain) loss									44	60	48
Amortization of prior service cost									0	1	1
Settlement/curtailment (gain) loss									0	0	1
Total net periodic benefit cost									54	72	74
Net periodic benefit costs included in the statement of income
Income from continuing operations									54	72	69
Income from Discontinued Operations									0	0	5
Net Income									54	72	74
Other Postretirement Benefits
Components of net periodic benefit cost:
Service cost									9	11	10
Interest cost									24	24	24
Expected return on plan assets									(23)	(25)	(25)
Amortization of actuarial (gain) loss									0	(1)	(4)
Amortization of prior service cost									(1)	1	1
Settlement/curtailment (gain) loss									0	0	(9)
Total net periodic benefit cost									9	10	(3)
Net periodic benefit costs included in the statement of income
Income from continuing operations									9	10	6
Income from Discontinued Operations									0	0	(9)
Net Income									$ 9	$ 10	$ (3)

Pension and Other Postretirem68

Pension and Other Postretirement Benefits - Change in Plan Benefit Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Pension
Change in benefit obligation:
Benefit obligation at January 1	$ 2,462	$ 2,607
Service cost	62	70	$ 80
Interest cost	92	92	103
Plan participants’ contributions	2	3
Amendments	0	1
Actuarial (gain) loss	216	(82)
Acquisitions and divestitures	7	0
Benefits paid	(150)	(169)
Medicare subsidy received	0	0
Foreign currency translation	(129)	(60)
Benefit obligation at December 31	2,562	2,462	2,607
Other Postretirement Benefits
Change in benefit obligation:
Benefit obligation at January 1	552	591
Service cost	9	11	10
Interest cost	24	24	24
Plan participants’ contributions	12	13
Amendments	0	0
Actuarial (gain) loss	(5)	(43)
Acquisitions and divestitures	0	0
Benefits paid	(43)	(46)
Medicare subsidy received	2	2
Foreign currency translation	0	0
Benefit obligation at December 31	$ 551	$ 552	$ 591

Pension and Other Postretirem69

Pension and Other Postretirement Benefits - Change in Plan Assets and Reconciliation of Funded Status (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
The amounts recognized in the statement of financial position as of December 31 consist of:
Accrued expenses	$ (16)	$ (15)
Pension
Change in plan assets:
Fair value of plan assets at January 1	2,441	2,557
Actual return on plan assets	274	16
Company contributions	70	97
Plan participants’ contributions	2	3
Benefits paid	(150)	(169)
Foreign currency translation	(150)	(63)
Fair value of plan assets at December 31	2,487	2,441
Funded status
Funded status	(75)	(21)
Other immaterial plans	(58)	(50)
Net liability at end of year	(133)	(71)
The amounts recognized in the statement of financial position as of December 31 consist of:
Net liability at end of year	(133)	(71)
The pre-tax amounts recognized in accumulated other comprehensive income consist of:
Net actuarial (gain) loss	673	631
Prior service cost	0	0
Pre-tax net actuarial (gain) loss and prior service cost	673	631
Accumulated benefit obligation	2,207	2,297
Plans with accumulated benefit obligation in excess of plan assets as of December 31:
Projected benefit obligation	183	164
Accumulated benefit obligation	167	152
Fair value of plan assets	25	25
Other Postretirement Benefits
Change in plan assets:
Fair value of plan assets at January 1	342	372
Actual return on plan assets	36	(3)
Company contributions	4	6
Plan participants’ contributions	12	13
Benefits paid	(43)	(46)
Foreign currency translation	0	0
Fair value of plan assets at December 31	351	342
Funded status
Funded status	(200)	(210)
Other immaterial plans	(5)	(5)
Net liability at end of year	(205)	(215)
The amounts recognized in the statement of financial position as of December 31 consist of:
Net liability at end of year	(205)	(215)
The pre-tax amounts recognized in accumulated other comprehensive income consist of:
Net actuarial (gain) loss	(38)	(20)
Prior service cost	0	(1)
Pre-tax net actuarial (gain) loss and prior service cost	(38)	(21)
Other assets | Pension
The amounts recognized in the statement of financial position as of December 31 consist of:
Other assets	131	191
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	(12)	(11)
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	(252)	(251)
Other noncurrent liabilities | Other Postretirement Benefits
The amounts recognized in the statement of financial position as of December 31 consist of:
Other noncurrent liabilities	$ (201)	$ (211)

Pension and Other Postretirem70

Pension and Other Postretirement Benefits - Assumptions Used and Trend Rates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Assumed health care cost trend rates of postretirement benefit obligation
Health care cost trend rate assumed for the next year	6.00%	6.00%	8.00%
Ultimate trend rate	4.50%	4.50%	4.50%
Year the rate reaches the ultimate trend rate	2,023	2,021	2,022
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	6
1-Percentage-Point Decrease - Change in postretirement benefit obligation	$ (14)
Pension
Assumptions used to determine benefit obligations at December 31:
Discount rate	3.41%	3.95%	3.70%
Rate of compensation increases	3.77%	3.72%	3.72%
Assumptions used to determine net periodic benefit cost for years ended December 31:
Discount rate	3.95%	3.70%	4.32%
Expected return on plan assets	6.22%	6.54%	7.02%
Rate of compensation increases	3.72%	3.72%	3.72%
Other Postretirement Benefits
Assumptions used to determine benefit obligations at December 31:
Discount rate	4.30%	4.55%	4.15%
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	4.55%	4.15%	4.95%
Expected return on plan assets	7.00%	7.00%	7.00%
Rate of compensation increases	0.00%	0.00%	0.00%

Pension and Other Postretirem71

Pension and Other Postretirement Benefits - Benefit Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	$ 2,487	$ 2,441	$ 2,557
Other Postretirement Benefits
Defined benefit plan assets for plan benefits
Fair value of plan assets	351	342	$ 372
Cash and equivalents | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	82	53
Cash and equivalents | Pension | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets	55	53
Cash and equivalents | Pension | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets	27	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	1	8
Cash and equivalents | Other Postretirement Benefits | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets	1	8
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
Equity securities, foreign | Pension | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets		62
Equity securities, foreign | Pension | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets		0
Equity securities, foreign | Pension | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets		0
Fixed income securities, government securities | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	307	285
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	307	285
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	541	483
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	541	483
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	19
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	19
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
Mutual funds | Pension | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets		145
Mutual funds | Pension | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets		0
Mutual funds | Pension | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets		0
Collective trust funds | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	1,478	1,347
Partnerships/private equity interests | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	54	66
Other | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	4	(2)
Other | Pension | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets		0
Other | Pension | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets		(2)
Other | Pension | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets		0
Pension plan assets net | Pension
Defined benefit plan assets for plan benefits
Fair value of plan assets	2,487	2,441
Pension plan assets net | Pension | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets	56	261
Pension plan assets net | Pension | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets	894	766
Pension plan assets net | Pension | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets	1	1
Life insurance policies | Other Postretirement Benefits
Defined benefit plan assets for plan benefits
Fair value of plan assets	350	334
Postretirement Benefit Plan Assets | Other Postretirement Benefits
Defined benefit plan assets for plan benefits
Fair value of plan assets	351	342
Postretirement Benefit Plan Assets | Other Postretirement Benefits | Level 1
Defined benefit plan assets for plan benefits
Fair value of plan assets	1	8
Postretirement Benefit Plan Assets | Other Postretirement Benefits | Level 2
Defined benefit plan assets for plan benefits
Fair value of plan assets	0	0
Postretirement Benefit Plan Assets | Other Postretirement Benefits | Level 3
Defined benefit plan assets for plan benefits
Fair value of plan assets	$ 0	$ 0

Pension and Other Postretirem72

Pension and Other Postretirement Benefits - Expected Benefit Payments (Details) $ in Millions	Dec. 31, 2016USD ($)
Pension
Portion of the benefit payments are expected to be paid
2,017	$ 182
2,018	181
2,019	183
2,020	185
2,021	184
Years 2022-2026	882
Other Postretirement Benefits
Portion of the benefit payments are expected to be paid
2,017	35
2,018	36
2,019	37
2,020	38
2,021	38
Years 2022-2026	$ 193

Pension and Other Postretirem73

Pension and Other Postretirement Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan expenses		$ 77	$ 77	$ 78
Pension
Defined Benefit Plan Disclosure [Line Items]
Increase in actuarial loss				76
Expected Company contributions		64
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Curtailment gain	$ 9
Increase in actuarial loss				$ 46
Expected Company contributions		$ 5
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan assets, minimum		30.00%
Target allocation for plan assets, maximum		45.00%
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan assets, minimum		50.00%
Target allocation for plan assets, maximum		65.00%
Other plan assets
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan assets, minimum		0.00%
Target allocation for plan assets, maximum		10.00%

Commitments and Contingencies74

Commitments and Contingencies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Rental expense	$ 121	$ 117	$ 130
Future Minimum Lease Payments Under Non-cancelable Leases
2,017	104
2,018	75
2,019	53
2,020	37
2,021	26
2022 and future years	43
Total future minimum lease payments	$ 338

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Changes in Accumulated Other Comrehensive Income (Loss)
Beginning balance	$ 5,228	$ 6,824	$ 9,709
Ending balance	4,259	5,228	6,824
Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comrehensive Income (Loss)
Beginning balance	(1,504)	(658)	384
Ending balance	(1,807)	(1,504)	(658)
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest
Changes in Accumulated Other Comrehensive Income (Loss)
Other comprehensive income (loss), before reclassifications, before tax	(251)	(800)	(806)
Reclassification from accumulated other comprehensive income, current period, before tax	(1)	0	(133)
Other comprehensive income (loss), tax	(25)	(60)	0
Other comprehensive income (loss), net of tax	(277)	(860)	(939)
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest
Changes in Accumulated Other Comrehensive Income (Loss)
Other comprehensive income (loss), before reclassifications, before tax	(67)	(41)	(224)
Reclassification from accumulated other comprehensive income, current period, before tax	43	61	54
Other comprehensive income (loss), tax	(2)	(6)	67
Other comprehensive income (loss), net of tax	$ (26)	$ 14	$ (103)

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) $ / shares in Units, shares in Millions	12 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013$ / sharesshares	May 31, 2015EUR (€)	Feb. 13, 2015USD ($)	May 31, 2014EUR (€)	Aug. 02, 2013USD ($)
Defined Benefit Plan Disclosure [Line Items]
Preferred stock, shares authorized | shares	0
Cash dividend declared (in dollars per share) | $ / shares	$ 2.40	$ 2.07	$ 1.81
Cash dividend paid (in dollars per share) | $ / shares	$ 2.30	$ 2.005	$ 1.745
Cumulative translation adjustment gains (losses) included in accumulated comprehensive income (loss)	$ (1,400,000,000)	$ (1,100,000,000)
Unrecognized pension and other postretirement benefits costs included in accumulated comprehensive income (loss)	405,000,000	$ 379,000,000
Estimated unrecognized benefit cost that will be amortized from accumulated other comprehensive income into net periodic benefit cost next year	$ 55,000,000
2013 Stock Repurchase Program
Defined Benefit Plan Disclosure [Line Items]
Authorized repurchase amount								$ 6,000,000,000
Shares repurchased | shares		14.9	50.4	3.3
Average price of shares repurchased (in dollars per share) | $ / shares		$ 96.84	$ 84.92	$ 81.62
Authorized repurchases remaining		$ 0
2015 Stock Repurchase Program
Defined Benefit Plan Disclosure [Line Items]
Authorized repurchase amount						$ 6,000,000,000
Shares repurchased | shares	18.7	6.1
Average price of shares repurchased (in dollars per share) | $ / shares	$ 107.17	$ 91.78
Authorized repurchases remaining	$ 3,400,000,000
Discontinued Operations | Accumulated Other Comprehensive Income (Loss)
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefit adjustments reclassified to income			$ 6,000,000
Net investment hedging
Defined Benefit Plan Disclosure [Line Items]
Cumulative translation adjustment gains (losses) included in accumulated comprehensive income (loss)	$ 375,000,000	$ 308,000,000
Euro notes, issued 2014 | Net investment hedging | Euro notes
Defined Benefit Plan Disclosure [Line Items]
Face value of notes | €							€ 1,000,000,000
Euro notes, issued 2015 | Net investment hedging | Euro notes
Defined Benefit Plan Disclosure [Line Items]
Face value of notes | €					€ 1,000,000,000

Stock-Based Compensation - Expe

Stock-Based Compensation - Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Summary of stock-based compensation expense
Pre-tax compensation expense	$ 39	$ 35	$ 34
Tax benefit	(13)	(12)	(12)
Total stock-based compensation expense, net of tax	$ 26	$ 23	$ 22

Stock-Based Compensation - Acti

Stock-Based Compensation - Activity Related to Non-vested RSUs (Details) shares in Millions	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Non-Vested RSUs, Number of Shares
Unvested, January 1, 2016 (in shares) | shares	0.8
Granted (in shares) | shares	0.3
Vested (in shares) | shares	(0.3)
Canceled (in shares) | shares	(0.1)
Unvested, December 31, 2016 (in shares) | shares	0.7
Non-Vested RSUs, Weighted-Average Grant-Date Fair Value
Unvested, January 1, 2016 (in dollars per share) | $ / shares	$ 73.58
Granted (in dollars per share) | $ / shares	85.61
Vested (in dollars per share) | $ / shares	61.14
Canceled (in dollars per share) | $ / shares	83.12
Unvested, December 31, 2016 (in dollars per share) | $ / shares	$ 83.39

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity (Details) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares
Stock Options, Number of Shares
Under option, January 1, 2016 (in shares) | shares	6.4
Granted (in shares) | shares	0.6
Exercised (in shares) | shares	(1.6)
Canceled or expired (in shares) | shares	(0.1)
Under option, December 31, 2016 (in shares) | shares	5.3
Stock Options, Weighted-Average Remaining Contractual Term
Under option, January 1, 2016 (in dollars per share) | $ / shares	$ 61.44
Granted (in dollars per share) | $ / shares	91.88
Exercised (in dollars per share) | $ / shares	50.66
Canceled or expired (in dollars per share) | $ / shares	87.15
Under option, December 31, 2016 (in dollars per share) | $ / shares	$ 68.05
Stock Options
Number of shares, exercisable, December 31, 2016 (in shares) | shares	3.7
Weighted-average exercise price, exercisable, December 31, 2016 (in dollars per share) | $ / shares	$ 59.72
Weighted-average remaining contractual term, under option, December 31, 2016	5 years 10 months 25 days
Weighted-average reamaining contractual term, exercisable, December 31, 2016	4 years 10 months 25 days
Aggregate intrinsic value, under option, December 31, 2016 | $	$ 290
Aggregate intrinsic value, exercisable, December 31, 2016 | $	$ 232

Stock-Based Compensation - Assu

Stock-Based Compensation - Assumptions Used in Options Pricing Model (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Summary of assumptions used in option models
Risk-free interest rate, minimum	0.56%	0.23%	0.16%
Risk-free interest rate, maximum	1.86%	2.25%	2.83%
Weighted-average volatility	24.00%	23.00%	22.90%
Dividend yield	2.12%	2.11%	2.46%
Minimum
Summary of assumptions used in option models
Expected years until exercise	6 years 10 months 25 days	6 years 10 months 25 days	6 years 8 months 12 days
Maximum
Summary of assumptions used in option models
Expected years until exercise	7 years 8 months 12 days	8 years	7 years 10 months 24 days

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares received for each RSU upon vesting	1
Shares reserved for issuance under long-term incentive plans	15,000,000
Pre-tax stock-based compensation expense	$ 39,000,000	$ 35,000,000	$ 34,000,000
Weighted-average grant-date fair value of options granted (in dollars per share)	$ 20.02	$ 20.58	$ 15.14
Aggregate intrinsic value of options exercised	$ 89,000,000	$ 55,000,000	$ 115,000,000
Cash receipts from exercise of options	84,000,000	59,000,000	148,000,000
Total fair value of vested stock option awards	12,000,000	13,000,000	16,000,000
Total fair value of vested restricted stock unit awards	$ 21,000,000	20,000,000	27,000,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award expiration period	10 years
Total unrecognized compensation cost related to unvested awards	$ 7,000,000
Weighted-average period to recognize total unrecognized compensation cost	1 year 10 months 25 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to unvested awards	$ 16,000,000
Weighted-average period to recognize total unrecognized compensation cost	1 year 7 months 6 days
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	$ 0	$ 0	$ 5,000,000

Other Balance Sheet Informati82

Other Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Prepaid expenses and other current assets:
Value-added-tax receivables	$ 55	$ 48
Income tax refunds receivable	21	147
Vendor advances	20	22
Other	122	124
Total prepaid expenses and other current assets	218	341
Other assets:
Cash surrender value of life insurance policies	442	428
Customer tooling	146	88
Prepaid pension assets	131	191
Investments	73	99
Equity investment in Wilsonart	0	113
Other	164	168
Total other assets	956	1,087
Accrued expenses:
Compensation and employee benefits	379	363
Deferred revenue and customer deposits	180	169
Rebates	144	125
Warranties	45	46
Current portion of pension and other postretirement benefit obligations	16	15
Other	438	418
Total accrued expenses	1,202	1,136
Other liabilities:
Pension benefit obligation	252	251
Postretirement benefit obligation	201	211
Other	418	519
Total other liabilities	$ 871	$ 981

Segment Information - Informati

Segment Information - Information by Segment (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Operating revenue	$ 3,399	$ 3,495	$ 3,431	$ 3,274	$ 3,275	$ 3,354	$ 3,434	$ 3,342	$ 13,599	$ 13,405	$ 14,484
Operating income	742	$ 808	$ 792	$ 722	679	$ 761	$ 730	$ 697	3,064	2,867	2,888
Depreciation and amortization and impairment of intangible assets									470	477	507
Plant and equipment additions									273	284	361
Identifiable assets	15,201				15,729				15,201	15,729	17,465
Operating segments
Segment Reporting Information [Line Items]
Operating income									3,155	2,938	2,958
Operating segments | Automotive OEM
Segment Reporting Information [Line Items]
Operating revenue									2,864	2,529	2,590
Operating income									690	613	600
Operating segments | Food Equipment
Segment Reporting Information [Line Items]
Operating revenue									2,110	2,096	2,177
Operating income									537	498	453
Operating segments | Test & Measurement and Electronics
Segment Reporting Information [Line Items]
Operating revenue									1,974	1,969	2,204
Operating income									372	322	340
Operating segments | Welding
Segment Reporting Information [Line Items]
Operating revenue									1,486	1,650	1,850
Operating income									370	415	479
Operating segments | Polymers & Fluids
Segment Reporting Information [Line Items]
Operating revenue									1,691	1,712	1,927
Operating income									343	335	357
Operating segments | Construction Products
Segment Reporting Information [Line Items]
Operating revenue									1,609	1,587	1,707
Operating income									361	316	289
Operating segments | Specialty Products
Segment Reporting Information [Line Items]
Operating revenue									1,885	1,885	2,055
Operating income									482	439	440
Intersegment revenue
Segment Reporting Information [Line Items]
Operating revenue									(20)	(23)	(26)
Corporate And Reconciling Items
Segment Reporting Information [Line Items]
Operating income									(91)	(71)	(70)
Continuing Operations | Operating segments
Segment Reporting Information [Line Items]
Plant and equipment additions									273	284	358
Identifiable assets	10,844				10,490				10,844	10,490	11,375
Continuing Operations | Operating segments | Automotive OEM
Segment Reporting Information [Line Items]
Depreciation and amortization and impairment of intangible assets									90	76	79
Plant and equipment additions									116	106	96
Identifiable assets	2,051				1,419				2,051	1,419	1,454
Continuing Operations | Operating segments | Food Equipment
Segment Reporting Information [Line Items]
Depreciation and amortization and impairment of intangible assets									45	48	52
Plant and equipment additions									31	37	47
Identifiable assets	1,013				1,054				1,013	1,054	1,123
Continuing Operations | Operating segments | Test & Measurement and Electronics
Segment Reporting Information [Line Items]
Depreciation and amortization and impairment of intangible assets									104	110	115
Plant and equipment additions									25	32	56
Identifiable assets	2,362				2,448				2,362	2,448	2,615
Continuing Operations | Operating segments | Welding
Segment Reporting Information [Line Items]
Depreciation and amortization and impairment of intangible assets									36	37	38
Plant and equipment additions									16	23	36
Identifiable assets	701				747				701	747	879
Continuing Operations | Operating segments | Polymers & Fluids
Segment Reporting Information [Line Items]
Depreciation and amortization and impairment of intangible assets									92	95	99
Plant and equipment additions									18	20	28
Identifiable assets	2,019				2,034				2,019	2,034	2,257
Continuing Operations | Operating segments | Construction Products
Segment Reporting Information [Line Items]
Depreciation and amortization and impairment of intangible assets									34	36	43
Plant and equipment additions									20	26	41
Identifiable assets	1,099				1,129				1,099	1,129	1,249
Continuing Operations | Operating segments | Specialty Products
Segment Reporting Information [Line Items]
Depreciation and amortization and impairment of intangible assets									69	75	81
Plant and equipment additions									47	40	54
Identifiable assets	1,599				1,659				1,599	1,659	1,798
Continuing Operations | Corporate
Segment Reporting Information [Line Items]
Identifiable assets	$ 4,357				$ 5,239				4,357	5,239	6,090
Discontinued Operations
Segment Reporting Information [Line Items]
Plant and equipment additions									$ 0	$ 0	$ 3

Segment Information - Operating

Segment Information - Operating Revenue by Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Revenue by Geographic Region:
Operating revenue	$ 3,399	$ 3,495	$ 3,431	$ 3,274	$ 3,275	$ 3,354	$ 3,434	$ 3,342	$ 13,599	$ 13,405	$ 14,484
United States
Operating Revenue by Geographic Region:
Operating revenue									6,176	6,167	6,191
Canada/Mexico
Operating Revenue by Geographic Region:
Operating revenue									923	928	993
Total North America
Operating Revenue by Geographic Region:
Operating revenue									7,099	7,095	7,184
Europe, Middle East and Africa
Operating Revenue by Geographic Region:
Operating revenue									3,787	3,725	4,319
Asia Pacific
Operating Revenue by Geographic Region:
Operating revenue									2,361	2,197	2,427
South America
Operating Revenue by Geographic Region:
Operating revenue									$ 352	$ 388	$ 554

Segment Information - Narrative

Segment Information - Narrative (Details) - Segment	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting [Abstract]
Number of reportable segments	7
Percentage of consolidated revenues not exceeded by any single customer	5.00%	5.00%	5.00%

Selected Quarterly Financial 86

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Operating revenue	$ 3,399	$ 3,495	$ 3,431	$ 3,274	$ 3,275	$ 3,354	$ 3,434	$ 3,342	$ 13,599	$ 13,405	$ 14,484
Cost of revenue	2,006	2,027	1,967	1,896	1,941	1,953	2,024	1,970	7,896	7,888	8,673
Operating income	742	808	792	722	679	761	730	697	3,064	2,867	2,888
Net income	$ 507	$ 535	$ 525	$ 468	$ 450	$ 511	$ 480	$ 458	$ 2,035	$ 1,899	$ 2,946
Net Income Per Share:
Basic (in dollars per share)	$ 1.46	$ 1.51	$ 1.47	$ 1.29	$ 1.24	$ 1.40	$ 1.31	$ 1.22	$ 5.73	$ 5.16	$ 7.33
Diluted (in dollars per share)	$ 1.45	$ 1.50	$ 1.46	$ 1.29	$ 1.23	$ 1.39	$ 1.30	$ 1.21	$ 5.70	$ 5.13	$ 7.28