EMPLOYEE BENEFITS

6 Months Ended

Jun. 30, 2018

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS

13. Employee Benefits

We sponsor various defined benefit pension plans, post-retirement medical and life insurance plans for eligible employees and retirees in the U.S. and certain non-U.S. countries.

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 June 30, 2018
Components of net periodic benefit cost:
Service cost	$	2	$	5	$	7	$	1	$	1	$	2
Interest cost		40		4		44		1		1		2
Expected return on assets		(70)		(6)		(76)		-		-		-
Amortization of prior service credit		-		-		-		(1)		(1)		(2)
Amortization of net loss		7		2		9		-		-		-
Net periodic benefit cost (credit)	$	(21)	$	5	$	(16)	$	1	$	1	$	2
Three Months Ended June 30, 2017
Components of net periodic benefit cost:
Service cost	$	7	$	8	$	15	$	1	$	-	$	1
Interest cost		42		4		46		1		1		2
Expected return on assets		(64)		(6)		(70)		-		-		-
Amortization of prior service credit		-		-		-		(1)		-		(1)
Amortization of net loss		7		3		10		-		-		-
Net periodic benefit cost (credit)	$	(8)	$	9	$	1	$	1	$	1	$	2
Six Months Ended June 30, 2018
Components of net periodic benefit cost:
Service cost	$	4	$	11	$	15	$	1	$	1	$	2
Interest cost		81		8		89		3		1		4
Expected return on assets		(141)		(13)		(154)		-		-		-
Amortization of prior service cost (credit)		-		1		1		(1)		(1)		(2)
Amortization of net loss		14		4		18		-		-		-
Net periodic benefit cost (credit)	$	(42)	$	11	$	(31)	$	3	$	1	$	4
Six Months Ended June 30, 2017
Components of net periodic benefit cost:
Service cost	$	13	$	16	$	29	$	1	$	1	$	2
Interest cost		85		8		93		3		2		5
Expected return on assets		(128)		(12)		(140)		-		-		-
Amortization of prior service credit		-		-		-		(1)		-		(1)
Amortization of net loss		14		6		20		-		-		-
Net periodic benefit cost (credit)	$	(16)	$	18	$	2	$	3	$	3	$	6

For the six-month period ended June 30,2018, we did not make any contributionsto the U.S. AIG Retirement Plan.