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Pension Plan And Other Postretirement Benefits
 3 Months Ended
Mar. 31, 2015
Pension Plan And Other Postretirement Benefits [Abstract]  
Pension Plan And Other Postretirement Benefits

(11) PENSION PLAN AND OTHER POSTRETIREMENT BENEFITS

 

The Company has defined pension and postretirement benefit plans which cover substantially all of the Company’s employees. Net periodic pension costs include the following components for the three  months ended March 31, 2015 and 2014:  

 

 

 

 

 

 

 

 

 

 

Pension Benefits

 

 

For the three months ended

 

 

March 31,

 

 

2015

 

2014

 

 

 

 

 

 

 

(in millions)

 

 

 

 

 

 

 

Service cost

 

$
4 

 

$
3 

Interest cost

 

 
1 

 

 
1 

Expected return on plan assets

 

 
(2)

 

 
(1)

Amortization of prior service cost

 

 

 – 

 

 

 – 

Amortization of net loss

 

 
1 

 

 

  – 

 

 

 

 

 

 

 

Net periodic benefit cost

 

$
4 

 

$
3 

 

The Company’s postretirement benefit plan had a net periodic benefit cost of $1 million as of each of the three month periods ended March 31, 2015 and 2014. As of March 31, 2015, the Company has contributed $3 million to the pension plan and expects to contribute an additional $9 million to the pension plan in 2015.

 

The Company maintains a non-qualified deferred compensation supplemental retirement savings plan (“Non-Qualified Plan”) for certain key employees who may elect to defer and contribute a portion of their compensation, as permitted by the plan. Shares of the Company’s common stock purchased under the terms of the Non-Qualified Plan are presented as treasury stock and totaled 13,893 shares at March 31, 2015 compared to 11,055 shares at December 31, 2014.