Compensation and Retirement Disclosure [Abstract] | Period [Axis] |
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2016-01-01 - 2016-12-31 |
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Compensation and Retirement Disclosure [Abstract] | |
Significant Actuarial Assumptions Used to Determine Net Periodic Pension Costs | The following actuarial assumptions were used to determine net periodic pension costs for the qualified pension plans: | | | | | | | | | | | | | December 31, | | | 2016 | | 2015 | | 2014 | Weighted average assumed discount rate | | 4.68 | % | | 4.27 | % | | 5.10 | % | Weighted average expected long-term rate of return on plan assets | | 7.00 |
| | 7.50 |
| | 7.75 |
| Assumed long-term rate of annual compensation increases | | 4.50 |
| | 4.50 |
| | 5.00 |
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Summary of the Components of Net Periodic Benefit Cost Recognized for Pension Plans | Financial data relative to qualified and nonqualified defined benefit pension plans is summarized in the following tables for the years indicated. On the Consolidated Balance Sheets, the qualified pension plan prepaid asset is recorded as a component of other assets and the nonqualified pension plans accrued liability is recorded as a component of other liabilities. The data is calculated using an actuarial measurement date of December 31. | | | | | | | | | | | | | | | | Year Ended December 31, | | | 2016 | | 2015 | | 2014 | | | (Dollars in millions) | Net Periodic Pension Cost: | | | | | | | Service cost | | $ | 186 |
| | $ | 176 |
| | $ | 138 |
| Interest cost | | 181 |
| | 157 |
| | 140 |
| Estimated return on plan assets | | (326 | ) | | (327 | ) | | (296 | ) | Net amortization and other | | 80 |
| | 67 |
| | 17 |
| Net periodic benefit cost | | 121 |
| | 73 |
| | (1 | ) | | | | | | | | Pre-Tax Amounts Recognized in OCI: | | |
| | |
| | |
| Net actuarial loss (gain) | | 138 |
| | 230 |
| | 532 |
| Net amortization | | (80 | ) | | (67 | ) | | (17 | ) | Net amount recognized in OCI | | 58 |
| | 163 |
| | 515 |
| Total net periodic pension costs (income) recognized in total comprehensive income, pre-tax | | $ | 179 |
| | $ | 236 |
| | $ | 514 |
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Significant Actuarial Assumptions Used to Determine Benefit Obligations | The following actuarial assumptions were used to determine benefit obligations: | | | | | | | | | | December 31, | | | 2016 | | 2015 | Weighted average assumed discount rate | | 4.43 | % | | 4.68 | % | Assumed rate of annual compensation increases | | 4.50 |
| | 4.50 |
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Changes in Projected Benefit Obligation | | | | | | | | | | | | | | | | | | | | | Qualified Plans | | Nonqualified Plans | | | Year Ended December 31, | | Year Ended December 31, | | | 2016 | | 2015 | | 2016 | | 2015 | | | (Dollars in millions) | Projected benefit obligation, beginning of year | | $ | 3,473 |
| | $ | 3,227 |
| | $ | 392 |
| | $ | 367 |
| Service cost | | 174 |
| | 164 |
| | 12 |
| | 12 |
| Interest cost | | 163 |
| | 141 |
| | 18 |
| | 16 |
| Actuarial (gain) loss | | 152 |
| | (164 | ) | | 15 |
| | (3 | ) | Benefits paid | | (94 | ) | | (80 | ) | | (11 | ) | | (15 | ) | Acquisitions | | 71 |
| | 185 |
| | — |
| | 15 |
| Projected benefit obligation, end of year | | $ | 3,939 |
| | $ | 3,473 |
| | $ | 426 |
| | $ | 392 |
| Accumulated benefit obligation, end of year | | $ | 3,403 |
| | $ | 2,997 |
| | $ | 363 |
| | $ | 309 |
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Changes in Fair Value of Plan Assets | | | | | | | | | | | | | | | | | | | | | Qualified Plans | | Nonqualified Plans | | | Year Ended December 31, | | Year Ended December 31, | | | 2016 | | 2015 | | 2016 | | 2015 | | | (Dollars in millions) | Fair value of plan assets, beginning of year | | $ | 4,369 |
| | $ | 4,223 |
| | $ | — |
| | $ | — |
| Actual return on plan assets | | 356 |
| | (70 | ) | | — |
| | — |
| Employer contributions | | 360 |
| | 126 |
| | 11 |
| | 15 |
| Benefits paid | | (94 | ) | | (80 | ) | | (11 | ) | | (15 | ) | Acquisitions | | 53 |
| | 170 |
| | — |
| | — |
| Fair value of plan assets, end of year | | $ | 5,044 |
| | $ | 4,369 |
| | $ | — |
| | $ | — |
| Funded status at end of year | | $ | 1,105 |
| | $ | 896 |
| | $ | (426 | ) | | $ | (392 | ) |
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Pre-tax Amounts Recognized in AOCI | The following are the pre-tax amounts recognized in AOCI: | | | | | | | | | | | | | | | | | | | | Qualified Plans | | Nonqualified Plans | | | Year Ended December 31, | | Year Ended December 31, | | | 2016 | | 2015 | | 2016 | | 2015 | | | (Dollars in millions) | Prior service credit (cost) | | $ | — |
| | $ | — |
| | $ | (1 | ) | | $ | (2 | ) | Net actuarial loss | | (1,095 | ) | | (1,040 | ) | | (135 | ) | | (131 | ) | Net amount recognized | | $ | (1,095 | ) | | $ | (1,040 | ) | | $ | (136 | ) | | $ | (133 | ) |
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Schedule of Amounts Expected to be Amortized from AOCI Into Net Periodic Pension Cost During Next Fiscal Year | The following table presents the amount expected to be amortized from AOCI into net periodic pension cost during 2017: | | | | | | | | | | | | Qualified Plans | | Nonqualified Plans | | | (Dollars in millions) | Net actuarial loss | | $ | (66 | ) | | $ | (12 | ) | Net amount expected to be amortized in 2017 | | $ | (66 | ) | | $ | (12 | ) |
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Schedule of Estimated Future Benefit Payments | The following table reflects the estimated benefit payments for the periods presented: | | | | | | | | | | | | Qualified Plans | | Nonqualified Plans | | | (Dollars in millions) | 2017 | | $ | 104 |
| | $ | 15 |
| 2018 | | 115 |
| | 16 |
| 2019 | | 125 |
| | 17 |
| 2020 | | 137 |
| | 18 |
| 2021 | | 149 |
| | 20 |
| 2022-2026 | | 949 |
| | 119 |
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Schedule of Fair Value of Pension Plan Assets by Three Level Fair Value Hierarchy | The fair values of certain pension plan assets by asset category are reflected in the following table. | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2016 | | December 31, 2015 | | | Total | | Level 1 | | Level 2 | | Total | | Level 1 | | Level 2 | | | (Dollars in millions) | Cash and cash-equivalents | | $ | 179 |
| | $ | 179 |
| | $ | — |
| | $ | 266 |
| | $ | 266 |
| | $ | — |
| U.S. equity securities | | 1,892 |
| | 1,018 |
| | 874 |
| | 1,627 |
| | 1,627 |
| | — |
| International equity securities | | 839 |
| | 165 |
| | 674 |
| | 712 |
| | 614 |
| | 98 |
| Fixed income securities | | 1,914 |
| | 10 |
| | 1,904 |
| | 1,631 |
| | 10 |
| | 1,621 |
| Total | | $ | 4,824 |
| | $ | 1,372 |
| | $ | 3,452 |
| | $ | 4,236 |
| | $ | 2,517 |
| | $ | 1,719 |
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