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Pension, Savings and Other Postretirement Benefit Plans
9 Months Ended
Sep. 30, 2017
Retirement Benefits [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.
 
U.S.
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
(In millions)
2017
 
2016
 
2017
 
2016
Service cost
$
1

 
$
1

 
$
3

 
$
3

Interest cost
39

 
41

 
120

 
123

Expected return on plan assets
(60
)
 
(64
)
 
(181
)
 
(191
)
Amortization of net losses
27

 
28

 
83

 
82

Net periodic pension cost
7

 
6

 
25

 
17

Net curtailments and settlements
24

 

 
25

 

Total defined benefit pension cost
$
31

 
$
6

 
$
50

 
$
17

 
Non-U.S.
 
Non-U.S.
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
(In millions)
2017
 
2016
 
2017
 
2016
Service cost
$
8

 
$
7

 
$
23

 
$
22

Interest cost
18

 
20

 
53

 
61

Expected return on plan assets
(20
)
 
(21
)
 
(59
)
 
(67
)
Amortization of net losses
8

 
7

 
24

 
21

Net periodic pension cost
14

 
13

 
41

 
37

Net curtailments and settlements
2

 

 
2

 
13

Total defined benefit pension cost
$
16

 
$
13

 
$
43

 
$
50

 
 
 
 
 
 
 
 
During the third quarter of 2017, we recognized a settlement charge of $24 million in connection with our frozen salaried U.S. pension plan. The settlement charge resulted from total lump sum benefit payments exceeding annual interest cost.
For the three and nine months ended September 30, 2017, net curtailment and settlement charges of $13 million and $14 million, respectively, were included in rationalization charges for employees who terminated service as a result of ongoing rationalization plans.
During the second quarter of 2016, annuities were purchased from existing plan assets to settle $41 million in obligations of one of our U.K. pension plans which resulted in a settlement charge of $14 million.
We expect to contribute approximately $50 million to $75 million to our funded non-U.S. pension plans in 2017. For the three and nine months ended September 30, 2017, we contributed $14 million and $41 million, respectively, to our non-U.S. plans.
The expense recognized for our contributions to defined contribution savings plans for the three months ended September 30, 2017 and 2016 was $28 million and $30 million, respectively, and for the nine months ended September 30, 2017 and 2016 was $86 million and $93 million, respectively.
We also 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 September 30, 2017 and 2016 was $2 million and $4 million, respectively, and for the nine months ended September 30, 2017 and 2016 was $5 million and $17 million, respectively.