Pension Benefit Plans

6 Months Ended

Jun. 30, 2020

Pension Benefit Plans

Pension Benefit Plans

8. Pension Benefit Plans

The components of the net periodic pension cost for the three months ended June 30, 2020 and 2019 are as follows:

	U.S.				Non-U.S.
	2020		2019		2020		2019
Service cost	$	3	$	3	$	4	$	3
Interest cost		13		15		6		7
Expected asset return		(20)		(22)		(12)		(11)
Amortization of actuarial loss		14		10		3		3
Net periodic pension cost	$	10	$	6	$	1	$	2

The components of the net periodic pension cost for the six months ended June 30, 2020 and 2019 are as follows:

	U.S.				Non-U.S.
	2020		2019		2020		2019
Service cost	$	6	$	6	$	7	$	6
Interest cost		25		30		13		15
Expected asset return		(41)		(44)		(24)		(22)
Amortization of actuarial loss		28		20		6		5
Net periodic pension cost	$	18	$	12	$	2	$	4

In addition to the above, the Company settled a portion of its pension obligations in Canada and recorded pension settlement charges of $8 million for the three and six months ended June 30, 2020, respectively.