EMPLOYEE BENEFITS

9 Months Ended

Sep. 30, 2013

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
				Non-U.S. Plans									Non-U.S. Plans
(in millions)	U.S. Plans						Total			U.S. Plans						Total
Three Months Ended September 30, 2013
Components of net periodic benefit cost:
Service cost	$	71		$	12		$	83		$	1		$	1		$	2
Interest cost		53			7			60			2			–			2
Expected return on assets		(64	)		(4	)		(68	)		–			–			–
Amortization of prior service (credit) cost		(8	)		(1	)		(9	)		(3	)		–			(3	)
Amortization of net (gain) loss		40			3			43			(1	)		–			(1	)
Net periodic benefit cost	$	92		$	17		$	109		$	(1	)	$	1		$	–
Three Months Ended September 30, 2012
Components of net periodic benefit cost:
Service cost	$	40		$	13		$	53		$	1		$	1		$	2
Interest cost		49			8			57			3			1			4
Expected return on assets		(60	)		(5	)		(65	)		–			–			–
Amortization of prior service (credit) cost		(8	)		(1	)		(9	)		(3	)		–			(3	)
Amortization of net (gain) loss		29			3			32			–			–			–
Other		–			–			–			–			(1	)		(1	)
Net periodic benefit cost	$	50		$	18		$	68		$	1		$	1		$	2
Nine Months Ended September 30, 2013
Components of net periodic benefit cost:
Service cost	$	159		$	36		$	195		$	4		$	3		$	7
Interest cost		151			22			173			6			1			7
Expected return on assets		(193	)		(14	)		(207	)		–			–			–
Amortization of prior service (credit) cost		(25	)		(2	)		(27	)		(8	)		–			(8	)
Amortization of net (gain) loss		106			9			115			–			–			–
Net periodic benefit cost	$	198		$	51		$	249		$	2		$	4		$	6
Nine Months Ended September 30, 2012
Components of net periodic benefit cost:
Service cost	$	116		$	39		$	155		$	4		$	2		$	6
Interest cost		149			25			174			8			2			10
Expected return on assets		(180	)		(15	)		(195	)		–			–			–
Amortization of prior service (credit) cost		(25	)		(3	)		(28	)		(8	)		–			(8	)
Amortization of net (gain) loss		87			10			97			–			–			–
Other		–			–			–			–			(1	)		(1	)
Net periodic benefit cost	$	147		$	56		$	203		$	4		$	3		$	7

For the nine-month period ended September 30, 2013, we contributed $82 million to our U.S. and non-U.S. pension plans and estimate that we will contribute an additional $18 million for the remainder of 2013. These estimates are subject to change because contribution decisions are affected by various factors, including our liquidity, market performance and management discretion.