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RETIREMENT AND POSTRETIREMENT BENEFIT PLANS
3 Months Ended
Mar. 31, 2017
RETIREMENT AND POSTRETIREMENT BENEFIT PLANS  
RETIREMENT AND POSTRETIREMENT BENEFIT PLANS

NOTE 10RETIREMENT AND POSTRETIREMENT BENEFIT PLANS

 

The following table sets forth the components of the net periodic benefit costs for our defined benefit pension and postretirement benefit plans:

 

 

 

Three months ended March 31,

 

 

 

2017

 

2016

 

 

 

Pension
Benefit

 

Postretirement
Benefit

 

Pension
Benefit

 

Postretirement
Benefit

 

 

 

(in millions)

 

Service cost

 

$

 

$

1

 

$

 

$

1

 

Interest cost

 

1

 

1

 

1

 

1

 

Expected return on plan assets

 

(1)

 

 

(1)

 

 

Settlement loss

 

3

 

 

3

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

3

 

$

2

 

$

3

 

$

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

During the three months ended March 31, 2017 and 2016, we contributed $4 million and $5 million, respectively, to our defined benefit pension plans.  We expect to satisfy minimum funding requirements with contributions of $3 million to our defined benefit pension plans during the remainder of 2017.  The 2017 and 2016 settlements were associated with early retirements.