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Defined Benefit Pension and Other Postretirement Plans
 6 Months Ended
Jun. 30, 2014
Compensation and Retirement Disclosure [Abstract]  
Defined Benefit Pension and Other Postretirement Plans
Defined Benefit Pension and Other Postretirement Plans
The following summarizes the components of net periodic benefit costs:
 
Three Months Ended June 30,
 
Pension Benefits
 
Other Benefits
(In millions)
2014
 
2013
 
2014
 
2013
Components of net periodic benefit cost:
 
 
 
 
 
 
 
Service cost
$
20

 
$
23

 
$
6

 
$
6

Interest cost
18

 
18

 
9

 
6

Expected return on plan assets
(26
)
 
(26
)
 
—

 
—

Amortization – prior service credit
(11
)
 
(11
)
 
(1
)
 
—

                      – actuarial loss
13

 
18

 
—

 
—

                      – settlement loss
5

 
60

 
—

 
—

Net periodic benefit cost
$
19

 
$
82

 
$
14

 
$
12

 
 
Six Months Ended June 30,
 
Pension Benefits
 
Other Benefits
(In millions)
2014
 
2013
 
2014
 
2013
Components of net periodic benefit cost:
 
 
 
 
 
 
 
Service cost
$
43

 
$
46

 
$
13

 
$
12

Interest cost
38

 
36

 
17

 
13

Expected return on plan assets
(54
)
 
(53
)
 
—

 
—

Amortization – prior service credit
(23
)
 
(22
)
 
(2
)
 
(2
)
                      – actuarial loss
26

 
39

 
1

 
1

                      – settlement loss
69

 
60

 
—

 
—

Net periodic benefit cost
$
99

 
$
106

 
$
29

 
$
24



During the six months ended June 30, 2014, we made no contributions to our funded pension plans. We have no required funding for 2014, but may do so at our discretion. Current benefit payments related to unfunded pension and other postretirement benefit plans were $9 million and $10 million, respectively, during the six months ended June 30, 2014.
During the six months ended June 30, 2014 and 2013, we determined that lump sum payments to employees retiring in the respective years will exceed the plans’ total service and interest costs for the year. Settlement losses are required to be recorded when lump sum payments exceed total service and interest costs. As a result, during the six months ended June 30, 2014 and 2013, we recorded pension settlement expenses of $69 million and $60 million related to our cumulative lump sum payments made during the first six months of 2014 and 2013, respectively.