XML 63 R13.htm IDEA: XBRL DOCUMENT v3.2.0.727
Defined Benefit Postretirement Plans
 6 Months Ended
Jun. 30, 2015
Defined Benefit Postretirement Plans Disclosure [Abstract]  
Defined Benefit Postretirement Plans [Text Block]
Defined Benefit Postretirement Plans
The following summarizes the components of net periodic benefit cost (credit):
 
Three Months Ended June 30,
  
Pension Benefits
 
Other Benefits
(In millions)
2015
 
2014
 
2015
 
2014
Service cost
$
12

 
$
11

 
$
1

 
$
1

Interest cost
13

 
15

 
2

 
3

Expected return on plan assets
(17
)
 
(14
)
 
—

 
—

Amortization:
 

 
 

 
 

 
 

– prior service cost (credit)
(2
)
 
2

 
(1
)
 
(1
)
– actuarial loss
7

 
10

 
—

 
—

Net settlement loss (a)
64

 
8

 
—

 
—

Net curtailment loss (b)
—

 
—

 
2

 
—

Net periodic benefit cost
$
77

 
$
32

 
$
4

 
$
3


 
Six Months Ended June 30,
  
Pension Benefits
 
Other Benefits
(In millions)
2015
 
2014
 
2015
 
2014
Service cost
24

 
23

 
2

 
2

Interest cost
27

 
31

 
5

 
6

Expected return on plan assets
(36
)
 
(32
)
 
—

 
—

Amortization:
 

 
 

 
 

 
 

– prior service cost (credit)
(1
)
 
3

 
(2
)
 
(2
)
– actuarial loss
14

 
16

 
—

 
—

Net settlement loss(a)
81

 
71

 
—

 
—

Net curtailment loss (gain) (b)
1

 
—

 
(4
)
 
—

Net periodic benefit cost
$
110


$
112


$
1


$
6


(a) 
Settlements are recognized as they occur, once it is probable that lump sum payments from a plan for a given year will exceed the plan's total service and interest cost for that year.
(b) 
Related to the workforce reduction, which reduced the future expected years of service for employees participating in the plans.
During the first six months of 2015, we recorded the effects of a workforce reduction and a pension plan amendment. The pension plan amendment freezes the final average pay used to calculate the formula benefit and is effective July 6, 2015. Additionally, during the first six months of 2015 and 2014, we recorded the effects of partial settlements of our U.S. pension plans. As required, we remeasured the plans' assets and liabilities as of the applicable balance sheet dates. The cumulative effects of these events are included in the remeasurement and reflected in both the pension liability and net periodic benefit cost (credit).
During the first six months of 2015, we made contributions of $46 million to our funded pension plans.  We expect to make additional contributions up to an estimated $42 million to our funded pension plans over the remainder of 2015.  During the first six months of 2015, we made payments of $42 million and $8 million related to unfunded pension plans and other postretirement benefit plans, respectively.