Retirement-Related Benefits (Tables)

3 Months Ended

Mar. 31, 2020

Retirement-Related Benefits

Pre-tax cost for all retirement-related plans

					Yr. to Yr.
(Dollars in millions)					Percent
For the three months ended March 31:	2020		2019		Change
Retirement-related plans — cost
Defined benefit and contribution pension plans — cost	$	584	$	437	33.7	%
Nonpension postretirement plans — cost		52		54	(4.1)
Total	$	636	$	491	29.5	%

Components of net periodic (income)/cost of the company's retirement-related benefit plans

(Dollars in millions)	U.S. Plans				Non-U.S. Plans
For the three months ended March 31:	2020		2019		2020		2019
Service cost	$	—	$	—	$	95	$	93
Interest cost (1)		375		472		129		208
Expected return on plan assets (1)		(542)		(650)		(309)		(399)
Amortization of prior service costs/(credits) (1)		4		4		(5)		(6)
Recognized actuarial losses (1)		207		140		342		314
Curtailments and settlements (1)		—		—		8		1
Multi-employer plans		—		—		7		9
Other costs/(credits) (1)		—		—		5		5
Total net periodic pension (income)/cost of defined benefit plans	$	44	$	(34)	$	274	$	223
Cost of defined contribution plans		155		149		110		98
Total defined benefit and contribution pension plans cost recognized in the Consolidated Income Statement	$	199	$	115	$	385	$	322

(1) These components of net periodic pension cost are included in other (income) and expense in the Consolidated Income Statement.

(Dollars in millions)	U.S. Plan				Non-U.S. Plans
For the three months ended March 31:	2020		2019		2020		2019
Service cost	$	2	$	3	$	1	$	1
Interest cost (1)		26		36		10		12
Expected return on plan assets (1)		—		—		(1)		(1)
Amortization of prior service costs/(credits) (1)		1		(1)		0		0
Recognized actuarial losses (1)		7		1		6		3
Curtailments and settlements (1)		—		—		0		0
Total nonpension postretirement plans cost recognized in Consolidated Income Statement	$	36	$	39	$	16	$	15

(1)These components of net periodic pension cost are included in other (income) and expense in the Consolidated Income Statement.

Schedule of contributions

(Dollars in millions)	Plan Contributions
For the three months ended March 31:	2020		2019
U.S. nonpension postretirement benefit plan	$	136	$	194
Non-U.S. DB and multi-employer plans		82		94
Total plan contributions	$	217	$	288