EMPLOYEE BENEFITS

3 Months Ended

Mar. 31, 2014

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS

14. EMPLOYEE BENEFITS

The following table presents the components of net periodic benefit cost with respect to pensions and other postretirement benefits:

	Pension						Postretirement
		U.S.		Non-U.S.				U.S.		Non-U.S.
(in millions)		Plans		Plans		Total		Plans		Plans		Total
Three Months Ended March 31, 2014
Components of net periodic benefit cost:
Service cost	$	44	$	11	$	55	$	1	$	-	$	1
Interest cost		57		7		64		2		1		3
Expected return on assets		(71)		(6)		(77)		-		-		-
Amortization of prior service (credit) cost		(8)		(1)		(9)		(2)		-		(2)
Amortization of net (gain) loss		11		2		13		-		-		-
Net periodic benefit cost	$	33	$	13	$	46	$	1	$	1	$	2
Three Months Ended March 31, 2013
Components of net periodic benefit cost:
Service cost	$	44	$	13	$	57	$	1	$	1	$	2
Interest cost		49		8		57		2		-		2
Expected return on assets		(65)		(5)		(70)		-		-		-
Amortization of prior service (credit) cost		(8)		(1)		(9)		(3)		-		(3)
Amortization of net (gain) loss		33		3		36		1		-		1
Curtailment (gain) loss		-		(1)		(1)		-		-		-
Net periodic benefit cost	$	53	$	17	$	70	$	1	$	1	$	2

For the three month period ended March 31,2014, we contributed $50million to our U.S. and non-U.S. pension plans and estimate that we will contribute an additional $127million for the remainder of 2014. These estimates are subject to change because contribution decisions are affected by various factors, including our liquidity, market performance and management discretion.