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Employee Benefit Plans
 9 Months Ended
Sep. 30, 2022
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 (the “traditional formula”), while benefits for other employees are based on an account balance that takes into consideration age, length of service and earnings during their career (the “cash balance formula”).
 
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 certain 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 September 30,
 Pension BenefitsOther Postretirement Benefits
 2022202120222021
 (in millions)
Components of net periodic (benefit) cost:
Service cost$65 $82 $3 $7 
Interest cost111 91 14 12 
Expected return on plan assets(218)(206)(25)(26)
Amortization of prior service cost(1)(1)(2)2 
Amortization of actuarial (gain) loss, net37 61 2 4 
Settlements2 1 0 0 
Curtailments0 0 0 0 
Special termination benefits 0 0 0 0 
Net periodic (benefit) cost
$(4)$28 $(8)$(1)
Nine Months Ended September 30,
Pension BenefitsOther Postretirement Benefits
2022202120222021
(in millions)
Components of net periodic (benefit) cost:
Service cost$211 $247 $10 $20 
Interest cost320 273 41 36 
Expected return on plan assets(649)(618)(77)(76)
Amortization of prior service cost(1)$(3)(6)5 
Amortization of actuarial (gain) loss, net124 $184 5 12 
Settlements3 3 0 0 
Curtailments(1)0 0 (8)0 
Special termination benefits(2)(3)4 1 4 0 
Net periodic (benefit) cost
$12 $87 $(31)$(3)
__________ 
(1)For 2022, curtailments are recognized as a result of the sale of the Full Service Retirement business for other postretirement benefit plans.
(2)For 2022, certain employees were provided special termination benefits under non-qualified plans in the form of unreduced early retirement benefits as a result of their involuntary termination while others were provided enhanced benefits due to the sale of the Full Service Retirement business.
(3)For 2021, certain employees were provided special termination benefits under non-qualified plans in the form of unreduced early retirement benefits as a result of their involuntary termination or participation in the Voluntary Separation Program that was offered to eligible U.S.-based employees in 2019.