Benefit Plans

3 Months Ended

Mar. 31, 2021

Retirement Benefits [Abstract]

Benefit Plans

Note 10. Benefit Plans

Pension Plans

Components of Net Periodic Pension Cost:

Net periodic pension cost consisted of the following:

	U.S. Plans				Non-U.S. Plans
	For the Three Months Ended March 31,				For the Three Months Ended March 31,
	2021		2020		2021		2020
	(in millions)
Service cost	$	2	$	1	$	35	$	30
Interest cost	10		13		29		37
Expected return on plan assets	(18)		(19)		(106)		(99)
Amortization:
Net loss from experience differences	4		4		33		29
Prior service cost/(benefit)	—		—		(2)		(2)
Settlement losses and other expenses	3		4		—		2
Net periodic pension cost	$	1	$	3	$	(11)	$	(3)

Employer Contributions:

During the three months ended March 31, 2021, we contributed $3 million to our U.S. pension plans and $63 million to our non-U.S. pension plans, including $31 million to plans in the United Kingdom and Ireland. We make contributions to our pension plans in accordance with local funding arrangements and statutory minimum funding requirements. Discretionary contributions are made to the extent that they are tax deductible and do not generate an excise tax liability.

As of March 31, 2021, over the remainder of 2021, we plan to make further contributions of approximately $5 million to our U.S. plans and approximately $165 million to our non-U.S. plans. Our actual contributions may be different due to many factors, including changes in tax and other benefit laws, significant differences between expected and actual pension asset performance or interest rates.

Multiemployer Pension Plans:

On July 11, 2019, we received an undiscounted withdrawal liability assessment related to our complete withdrawal from the Bakery and Confectionery Union and Industry International Pension Fund totaling $526 million requiring pro-rata monthly payments over 20 years. We began making monthly payments during the third quarter of 2019. In connection with the discounted long-term liability, we recorded accreted interest of $3 million in the three months ended March 31, 2021 and in the three months ended March 31, 2020 within interest and other expense, net. As of March 31, 2021, the remaining discounted withdrawal liability was $372 million, with $14 million recorded in other current liabilities and $358 million recorded in long-term other liabilities.

Postretirement Benefit Plans

Net periodic postretirement health care benefit consisted of the following:

	For the Three Months Ended March 31,
	2021		2020
	(in millions)
Service cost	$	1	$	1
Interest cost	2		3
Amortization:
Net loss from experience differences	1		3
Prior service credit	—		(8)
Net periodic postretirement health care benefit	$	4	$	(1)

Postemployment Benefit Plans

Net periodic postemployment cost consisted of the following:

	For the Three Months Ended March 31,
	2021		2020
	(in millions)
Service cost	$	1	$	1
Interest cost	1		1
Amortization of net gains	(1)		(1)
Net periodic postemployment cost	$	1	$	1