Defined Benefit Postretirement Plans

6 Months Ended

Jun. 30, 2020

The following summarizes the components of net periodic benefit cost (credit):


	Three Months Ended June 30,
	Pension Benefits						Other Benefits
(In millions)	2020		2019^(d)		2020		2019
Service cost	$	5	$	5	$	—	$	—
Interest cost	2		7		—		1
Expected return on plan assets	(2)		(8)		—		—
Amortization:
– prior service cost (credit)	(2)		(2)		(5)		(4)
– actuarial loss	2		2		1		—
Net settlement loss^(a)	14		2		—		—
Net curtailment gain^(b)	(3)		—		(14)		—
Net periodic benefit cost (credit)^(c)	$	16	$	6	$	(18)	$	(3)


	Six Months Ended June 30,
	Pension Benefits						Other Benefits
(In millions)	2020		2019^(d)		2020		2019
Service cost	$	10	$	9	$	—	$	—
Interest cost	5		14		1		2
Expected return on plan assets	(5)		(16)		—		—
Amortization:
– prior service cost (credit)	(4)		(4)		(9)		(8)
– actuarial loss	5		4		1		—
Net settlement loss^(a)	16		2		—		—
Net curtailment gain^(b)	(3)		—		(14)		—
Net periodic benefit cost (credit)^(c)	$	24	$	9	$	(21)	$	(6)

^(a)Settlements are recognized as they occur, once it is probable that lump sum payments from a plan for a given year will exceed the plan’s total service and interest cost for that year.

^(b)Related to workforce reductions, which reduced the future expected years of service for employees participating in the plans.

^(c)Net periodic benefit cost (credit) reflects a calculated market-related value of plan assets which recognizes changes in fair value over three years.

^(d)Includes amounts related to the noncontributory defined benefit pension plan covering U.K. employees, prior to the plan being transferred to the buyer upon sale of the U.K. asset on July 1, 2019.

During the first six months of 2020, we made contributions of $12 million to our funded pension plan and expect to contribute an additional $16 million this year. During the first six months of 2020, we made payments of $14 million and $8 million related to unfunded pension plans and other postretirement benefit plans.