POSTRETIREMENT BENEFIT PLANS

6 Months Ended

Jun. 30, 2020

Retirement Benefits [Abstract]

POSTRETIREMENT BENEFIT PLANS

NOTE 13. POSTRETIREMENT BENEFIT PLANS. We sponsor a number of pension and retiree health and life insurance benefit plans that we present in three categories, principal pension plans, other pension plans and principal retiree benefit plans. Principal pension plans represent the GE Pension Plan and the GE Supplementary Pension Plan. Other pension plans include U.S. and non-U.S. pension plans with pension assets or obligations greater than $50 million. Principal retiree benefit plans provide health and life insurance benefits to certain eligible participants and these participants share in the cost of the healthcare benefits. Smaller pension plans with pension assets or obligations less than $50 million and other retiree benefit plans are not presented.

EFFECT ON OPERATIONS OF BENEFIT PLANS. The components of benefit plans costs other than the service cost are included in the caption Non-operating benefit costs in our consolidated Statement of Earnings (Loss).

Principal pension plans	Three months ended June 30						Six months ended June 30
(In millions)	2020			2019			2020			2019
Service cost for benefits earned	$	192		$	160		$	345		$	318
Prior service cost amortization	37			34			74			67
Expected return on plan assets	(748		)	(862		)	(1,496		)	(1,725		)
Interest cost on benefit obligations	589			723			1,176			1,449
Net actuarial loss amortization	851			770			1,699			1,533
Curtailment/settlement loss (gain)	—			—			—			51
Benefit plans cost	$	921		$	825		$	1,798		$	1,693

Principal retiree benefit plans income was $22 million and $30 million for the three months ended June 30, 2020 and 2019, and $54 million and $91 million for the six months ended June 30, 2020 and 2019, respectively, which includes a curtailment gain of $33 million in 2019 resulting from the Transportation transaction. Other pension plans cost were immaterial for the three months ended June 30, 2020 and 2019, and for the six months ended June 30, 2020 and 2019.

We also have a defined contribution plan for eligible U.S. employees that provides discretionary contributions. Defined contribution plan costs were $87 million and $90 million for the three months ended June 30, 2020 and 2019, and $182 million and $191 million for the six months ended June 30, 2020 and 2019, respectively.