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Retirement Benefits (Unaudited)
3 Months Ended
Mar. 31, 2012
Compensation and Retirement Disclosure [Abstract]  
RETIREMENT BENEFITS
RETIREMENT BENEFITS
The cost of the company’s pension plans and post-retirement medical and life benefit plans is shown in the following table:
 
Three Months Ended
March 31
 
Pension
Benefits
 
Medical and
Life Benefits
$ in millions
2012
 
2011
 
2012
 
2011
Components of net periodic benefit cost
 
 
 
 
 
 
 
Service cost

$131

 

$130

 

$ 8

 

$ 8

Interest cost
296

 
305

 
27

 
29

Expected return on plan assets
(427
)
 
(423
)
 
(17
)
 
(16
)
Amortization of:
 
 
 
 
 
 
 
Prior service cost (credit)
(15
)
 
6

 
(12
)
 
(13
)
Net loss from previous years
107

 
41

 
5

 
3

Other
2

 

 

 

Net periodic benefit cost

$ 94

 

$ 59

 

$11

 

$11


Employer Contributions
The company’s required minimum funding in 2012 for its defined benefit pension plans and its medical and life benefit plans are approximately $65 million and $120 million, respectively. For the three months ended March 31, 2012, contributions of $17 million have been made to the company’s defined benefit pension plans, and contributions of $14 million have been made to the company’s medical and life benefit plans. The company also sponsors defined contribution plans, and for the three months ended March 31, 2012, and 2011, contributions of $76 million and $85 million, respectively, were made to these plans.