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Retirement Benefits (Unaudited)
 6 Months Ended
Jun. 30, 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 are shown in the following table:
 
Three Months Ended June 30
 
Six Months Ended June 30
 
Pension
Benefits
 
Medical and
Life Benefits
 
Pension
Benefits
 
Medical and
Life Benefits
$ in millions
2012
 
2011
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
Components of net periodic benefit cost
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost

$130

 

$130

 

$ 9

 

$ 8

 

$261

 

$260

 

$17

 

$16

Interest cost
296

 
305

 
27

 
29

 
592

 
610

 
54

 
58

Expected return on plan assets
(427
)
 
(423
)
 
(17
)
 
(16
)
 
(854
)
 
(846
)
 
(34
)
 
(32
)
Amortization of:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Prior service cost (credit)
(14
)
 
6

 
(13
)
 
(13
)
 
(29
)
 
12

 
(25
)
 
(26
)
Net loss from previous years
107

 
41

 
5

 
3

 
214

 
82

 
10

 
6

Other
—

 
—

 
—

 
—

 
2

 
—

 
—

 
—

Net periodic benefit cost

$ 92

 

$ 59

 

$11

 

$11

 

$186

 

$118

 

$22

 

$22


Employer Contributions
The company’s required minimum funding in 2012 for its defined benefit pension plans and its post-retirement medical and life benefit plans is approximately $65 million and $120 million, respectively. For the six months ended June 30, 2012, contributions of $33 million have been made to the company’s defined benefit pension plans, and contributions of $46 million have been made to the company’s post-retirement medical and life benefit plans. The company also sponsors defined contribution plans, and for the three months ended June 30, 2012 and 2011, contributions of $76 million were made to these plans in each period. For the six months ended June 30, 2012 and 2011, contributions of $152 million and $161 million, respectively, were made to these plans.