Employee Benefit Plans

6 Months Ended

Jun. 30, 2019

Retirement Benefits [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

Pension and Other Postretirement Plans

The Company has funded and non-funded non-contributory defined benefit pension plans (“Pension Benefits”), which cover substantially all of its employees. For some employees, benefits are based on final average earnings and length of service, while benefits for other employees are based on an account balance that takes into consideration age, service and earnings during their career.

The Company provides certain health care and life insurance benefits for its retired employees, their beneficiaries and covered dependents (“Other Postretirement Benefits”). The health care plan is contributory; the life insurance plan is non-contributory. Substantially all of the Company’s U.S. employees may become eligible to receive Other Postretirement Benefits if they retire after age 55 with at least 10 years of service or under certain circumstances after age 50 with at least 20 years of continuous service.

Net periodic (benefit) cost included in “General and administrative expenses” includes the following components:

	Three Months Ended June 30,
	Pension Benefits						Other Postretirement Benefits
	2019			2018			2019			2018
	(in millions)
Components of net periodic (benefit) cost:
Service cost	$	72		$	79		$	5		$	6
Interest cost	123			112			20			17
Expected return on plan assets	(204		)	(205		)	(23		)	(27		)
Amortization of prior service cost	(1		)	(1		)	1			0
Amortization of actuarial (gain) loss, net	54			54			6			5
Settlements	48			0			0			0
Special termination benefits	1			1			0			0
Net periodic (benefit) cost	$	93		$	40		$	9		$	1
	Six Months Ended June 30,
	Pension Benefits						Other Postretirement Benefits
	2019			2018			2019			2018
	(in millions)
Components of net periodic (benefit) cost:
Service cost	$	145		$	158		$	11		$	12
Interest cost	246			224			39			35
Expected return on plan assets	(408		)	(409		)	(47		)	(54		)
Amortization of prior service cost	(2		)	(2		)	2			0
Amortization of actuarial (gain) loss, net	108			107			12			9
Settlements	48			0			0			0
Special termination benefits	1			1			0			0
Net periodic (benefit) cost	$	138		$	79		$	17		$	2