Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2020

Pension Plans

Defined Benefit Plan Disclosure [Line Items]

Schedule of Components of Net Costs

Net periodic pension cost consisted of the following:

	U.S. Plans						Non-U.S. Plans
	For the Three Months Ended June 30,						For the Three Months Ended June 30,
	2020			2019			2020			2019
	(in millions)
Service cost	$	2		$	9		$	29		$	30
Interest cost	13			15			36			51
Expected return on plan assets	(20		)	(22		)	(96		)	(101		)
Amortization:
Net loss from experience differences	4			5			28			37
Prior service cost/(benefit)	—			1			(1		)	(1		)
Settlement losses and other expenses (1)	8			4			—			3
Net periodic pension cost	$	7		$	12		$	(4	)	$	19
	U.S. Plans						Non-U.S. Plans
	For the Six Months Ended June 30,						For the Six Months Ended June 30,
	2020			2019			2020			2019
	(in millions)
Service cost	$	3		$	18		$	59		$	61
Interest cost	26			31			73			102
Expected return on plan assets	(39		)	(44		)	(195		)	(204		)
Amortization:
Net loss from experience differences	8			10			57			75
Prior service cost/(credit)	—			1			(3		)	(3		)
Settlement losses and other expenses (1)	12			8			2			3
Net periodic pension cost	$	10		$	24		$	(7	)	$	34

(1)

In connection with our Simplify to Grow Program, settlement losses and other expenses were $4 million for the three and six months ended June 30, 2020 and $5 million for the three and six months ended June 30, 2019. These losses were recorded within benefit plan non-service income on our condensed consolidated statements of earnings.

Postretirement Benefit Plans

Defined Benefit Plan Disclosure [Line Items]

Schedule of Components of Net Costs

Net periodic postretirement health care benefit consisted of the following:

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2020			2019			2020			2019
	(in millions)
Service cost	$	2		$	2		$	3		$	3
Interest cost	3			3			6			7
Amortization:
Net loss from experience differences	1			1			4			3
Prior service credit	(7		)	(9		)	(15		)	(19		)
Net periodic postretirement health care benefit	$	(1	)	$	(3	)	$	(2	)	$	(6	)

Postemployment Benefit Plans

Defined Benefit Plan Disclosure [Line Items]

Schedule of Components of Net Costs

Net periodic postemployment cost consisted of the following:

	For the Three Months Ended June 30,					For the Six Months Ended June 30,
	2020			2019		2020			2019
	(in millions)
Service cost	$	2		$	2	$	3		$	3
Interest cost	1			1		2			2
Amortization of net gains	(1		)	—		(2		)	(1		)
Net periodic postemployment cost	$	2		$	3	$	3		$	4