Employee Benefit Plans

6 Months Ended

Jun. 30, 2020

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

9.

EMPLOYEE BENEFIT PLANS

The components of net periodic benefit cost related to our defined benefit plans were as follows (in millions):

	Pension Plans						Other Postretirement Benefit Plans
	2020			2019			2020			2019
Three months ended June 30
Service cost	$	35		$	30		$	2		$	1
Interest cost	22			25			2			3
Expected return on plan assets	(46		)	(41		)	—			—
Amortization of:
Net actuarial (gain) loss	19			10			—			(1		)
Prior service credit	(5		)	(5		)	(2		)	(2		)
Special charges	1			2			—			—
Net periodic benefit cost	$	26		$	21		$	2		$	1
Six months ended June 30
Service cost	$	70		$	60		$	3		$	2
Interest cost	43			49			4			6
Expected return on plan assets	(90		)	(83		)	—			—
Amortization of:
Net actuarial (gain) loss	37			20			—			(2		)
Prior service credit	(10		)	(9		)	(3		)	(4		)
Special charges	1			2			—			1
Net periodic benefit cost	$	51		$	39		$	4		$	3

The components of net periodic benefit cost other than the service cost component (i.e., the non-service cost components) are included in “other income, net” in the statements of income.

During the six months ended June 30, 2020 and 2019, we contributed $19 million and $23 million, respectively, to our pension plans and $7 million and $8 million, respectively, to our other postretirement benefit plans.

We previously disclosed in our annual report on Form 10-K for the year ended December 31, 2019 that we planned to contribute approximately $140 million to our pension plans and $21 million to our other postretirement benefit plans during 2020. Due to the current economic environment, we are reconsidering our intent to make a discretionary contribution of $100 million to our qualified U.S. pension plan.