PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

A summary of the Company's pension and other postretirement benefit plans can be found in Note 20 to the Consolidated Financial Statements included in the 2021 10-K.

The Company's funding policy is to contribute to defined benefit pension plans in the United States and a number of other countries when pension laws and/or economics either require or encourage funding. The Company expects to contribute approximately $250 million to its pension plans in 2022, of which $89 million has been contributed through June 30, 2022.

The following table provides the components of the Company's net periodic benefit cost for all significant plans:

Net Periodic Benefit Cost for All Significant Plans	Three Months Ended				Six Months Ended
In millions	Jun 30, 2022		Jun 30, 2021		Jun 30, 2022		Jun 30, 2021
Defined Benefit Pension Plans
Service cost	$	99	$	96	$	198	$	198
Interest cost	171		150		342		293
Expected return on plan assets	(423)		(435)		(847)		(857)
Amortization of prior service credit	(5)		(5)		(11)		(10)
Amortization of net loss	165		200		332		424
Curtailment gain	—		—		—		(19)
Net periodic benefit cost	$	7	$	6	$	14	$	29
Other Postretirement Benefit Plans
Service cost	$	2	$	2	$	3	$	4
Interest cost	7		5		14		11
Amortization of net gain	(4)		(1)		(8)		(3)
Net periodic benefit cost	$	5	$	6	$	9	$	12

Net periodic benefit cost, other than the service cost component, is included in "Sundry income (expense) - net" in the consolidated statements of income.