Pension, Savings and Other Postretirement Benefit Plans

6 Months Ended

Jun. 30, 2015

Compensation and Retirement Disclosure [Abstract]

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.						U.S.
	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2015			2014			2015			2014
Service cost — benefits earned during the period	$	1		$	4		$	2		$	13
Interest cost on projected benefit obligation	60			63			121			128
Expected return on plan assets	(75		)	(77		)	(150		)	(157		)
Amortization of: — prior service cost	—			—			—			1
— net losses	26			27			54			60
Net periodic pension cost	12			17			27			45
Net curtailments/settlements/termination benefits	—			—			—			32
Total defined benefit pension cost	$	12		$	17		$	27		$	77



	Non-U.S.						Non-U.S.
	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions)	2015			2014			2015			2014
Service cost — benefits earned during the period	$	13		$	9		$	22		$	18
Interest cost on projected benefit obligation	28			34			57			68
Expected return on plan assets	(27		)	(31		)	(53		)	(61		)
Amortization of net losses	10			9			19			18
Net periodic pension cost	24			21			45			43
Net curtailments/settlements/termination benefits	1			(1		)	1			(14		)
Total defined benefit pension cost	$	25		$	20		$	46		$	29

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 $2 million and $22 million, for the three and six months ended June 30, 2014, respectively, which are 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 and six months ended June 30, 2015, we contributed $16 million and $32 million, respectively, to our non-U.S. plans.

The expense recognized for our contributions to defined contribution savings plans for the three months ended June 30, 2015 and 2014 was $31 million and $28 million, respectively, and $64 million and $55 million, for the six months ended June 30, 2015 and 2014, 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 June 30, 2015 and 2014 was $(6) million and $(4) million respectively, and $(10) million and $(7) million for the six months ended June 30, 2015 and 2014, respectively.