Pension, Savings and Other Postretirement Benefit Plans

3 Months Ended

Mar. 31, 2015

Compensation and Retirement Disclosure [Abstract]

PENSION, SAVINGS AND OTHER POSTRETIREMENT BENEFIT PLANS

PENSION, SAVINGS AND OTHER POSTRETIREMENT BENEFIT PLANS

We provide employees with defined benefit pension or defined contribution savings plans.

Defined benefit pension cost follows:

	U.S.
	Three Months Ended
	March 31,
(In millions)	2015			2014
Service cost — benefits earned during the period	$	1		$	9
Interest cost on projected benefit obligation	61			65
Expected return on plan assets	(75		)	(80		)
Amortization of: — prior service cost	—			1
— net losses	28			33
Net periodic pension cost	15			28
Net curtailments/settlements/termination benefits	—			32
Total defined benefit pension cost	$	15		$	60

	Non-U.S.
	Three Months Ended
	March 31,
(In millions)	2015			2014
Service cost — benefits earned during the period	$	9		$	9
Interest cost on projected benefit obligation	29			34
Expected return on plan assets	(26		)	(30		)
Amortization of net losses	9			9
Net periodic pension cost	21			22
Net curtailments/settlements/termination benefits	—			(13		)
Total defined benefit pension cost	$	21		$	9

During the first quarter of 2014, we made contributions of $1,167 million, including discretionary contributions of $907 million, to fully fund our hourly U.S. pension plans. As a result, and in accordance with our master collective bargaining agreement with the United Steelworkers, the hourly U.S. pension plans were frozen to future accruals effective April 30, 2014. As a result of the accrual freezes to pension plans related to our North America SBU, we recognized curtailment charges of $33 million in the first quarter of 2014.

In the first quarter of 2014, our largest U.K. pension plans were merged and lump sum payments were made to settle certain obligations of those plans prior to the merger, which resulted in a settlement charge of $5 million.

In the first quarter of 2014, we also ceased production at one of our manufacturing facilities in Amiens, France and recorded curtailment gains of $20 million, which is included in rationalization charges, related to the termination of employees at that facility who were participants in our France retirement indemnity plan.

We expect to contribute approximately $50 million to $75 million to our funded non-U.S. pension plans in 2015. For the three months ended March 31, 2015, we contributed $16 million to our non-U.S. plans.

The expense recognized for our contributions to defined contribution savings plans for the three months ended March 31, 2015 and 2014 was $33 million and $27 million, respectively.

We provide certain U.S. employees and employees at certain non-U.S. subsidiaries with health care benefits or life insurance benefits upon retirement. Other postretirement benefits credit for the three months ended March 31, 2015 and 2014 was $4 million and $3 million, respectively.