Retirement Plans | Other Benefit Plans | |||||||||||||
(Dollars in Millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||
Change in Benefit Obligation | ||||||||||||||
Projected benefit obligation — beginning of year | $ | 21,829 | 17,424 | 4,159 | 3,790 | |||||||||
Service cost | 906 | 722 | 196 | 175 | ||||||||||
Interest cost | 908 | 878 | 151 | 165 | ||||||||||
Plan participant contributions | 54 | 35 | — | — | ||||||||||
Amendments | 35 | 12 | 7 | — | ||||||||||
Actuarial (gains) losses | (1,432 | ) | 2,662 | 296 | 459 | |||||||||
Divestitures & acquisitions | 8 | 629 | — | — | ||||||||||
Curtailments, settlements & restructuring | (15 | ) | (6 | ) | (11 | ) | — | |||||||
Benefits paid from plan | (751 | ) | (697 | ) | (373 | ) | (432 | ) | ||||||
Effect of exchange rates | (54 | ) | 170 | (18 | ) | 2 | ||||||||
Projected benefit obligation — end of year | $ | 21,488 | 21,829 | 4,407 | 4,159 | |||||||||
Change in Plan Assets | ||||||||||||||
Plan assets at fair value — beginning of year | $ | 17,536 | 13,736 | 122 | 8 | |||||||||
Actual return on plan assets | 3,573 | 1,926 | 15 | 3 | ||||||||||
Company contributions | 565 | 1,838 | 323 | 543 | ||||||||||
Plan participant contributions | 54 | 35 | — | — | ||||||||||
Settlements | (4 | ) | (2 | ) | — | — | ||||||||
Divestitures & acquisitions | 9 | 593 | — | — | ||||||||||
Benefits paid from plan assets | (751 | ) | (697 | ) | (373 | ) | (432 | ) | ||||||
Effect of exchange rates | (81 | ) | 107 | — | — | |||||||||
Plan assets at fair value — end of year | $ | 20,901 | 17,536 | 87 | 122 | |||||||||
Funded status — end of year | $ | (587 | ) | (4,293 | ) | (4,320 | ) | (4,037 | ) | |||||
Amounts Recognized in the Company’s Balance Sheet consist of the following: | ||||||||||||||
Non-current assets | $ | 2,363 | 194 | $ | — | — | ||||||||
Current liabilities | (71 | ) | (65 | ) | (302 | ) | (307 | ) | ||||||
Non-current liabilities | (2,879 | ) | (4,422 | ) | (4,018 | ) | (3,730 | ) | ||||||
Total recognized in the consolidated balance sheet — end of year | $ | (587 | ) | (4,293 | ) | $ | (4,320 | ) | (4,037 | ) | ||||
Amounts Recognized in Accumulated Other Comprehensive Income consist of the following: | ||||||||||||||
Net actuarial loss | $ | 3,344 | 7,586 | $ | 1,732 | 1,601 | ||||||||
Prior service cost (credit) | 26 | 9 | (6 | ) | (14 | ) | ||||||||
Unrecognized net transition obligation | 2 | 2 | — | — | ||||||||||
Total before tax effects | $ | 3,372 | 7,597 | $ | 1,726 | 1,587 | ||||||||
Accumulated Benefit Obligations — end of year | $ | 19,203 | 19,267 | |||||||||||
Retirement Plans | Other Benefit Plans | |||||||||||||
(Dollars in Millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||
Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income | ||||||||||||||
Net periodic benefit cost | $ | 1,055 | 865 | $ | 452 | 409 | ||||||||
Net actuarial (gain) loss | (3,559 | ) | 2,007 | 248 | 458 | |||||||||
Amortization of net actuarial loss | (681 | ) | (494 | ) | (111 | ) | (76 | ) | ||||||
Prior service cost | 34 | 12 | 8 | — | ||||||||||
Amortization of prior service (cost) credit | (13 | ) | (6 | ) | — | 3 | ||||||||
Effect of exchange rates | (6 | ) | 79 | (6 | ) | 1 | ||||||||
Total recognized in other comprehensive income, before tax | $ | (4,225 | ) | 1,598 | $ | 139 | 386 | |||||||
Total recognized in net periodic benefit cost and other comprehensive income | $ | (3,170 | ) | 2,463 | $ | 591 | 795 | |||||||