v3.6.0.2
Components of Federal and Foreign Deferred Tax Assets and Liabilities (Detail) - USD ($)
$ in Millions
Dec. 31, 2016
Dec. 31, 2015
Deferred tax assets related to:    
Accrued compensation and benefits $ 1,012 $ 919
Pensions [1] 5,197 4,462
Other postretirement benefit obligations 302 375
Contract accounting methods 878 1,039
Foreign company operating losses and credits 30 62
Other 327 418
Valuation allowance [2] (15) (73)
Deferred tax assets, net 7,731 7,202
Deferred tax liabilities related to:    
Goodwill and purchased intangibles 378 274
Property, plant and equipment 346 457
Exchanged debt securities and other [3] 418 408
Deferred tax liabilities 1,142 1,139
Net deferred tax assets $ 6,589 $ 6,063
[1] The increase in 2016 was primarily due to the reduction in the discount rate used to measure our postretirement benefit plans (see "Note 11 - Postretirement Plans").
[2] A valuation allowance was provided against certain foreign company deferred tax assets arising from carryforwards of unused tax benefits.
[3] Includes deferred taxes associated with the exchange of debt securities in prior years.