RETIREMENT BENEFITS PLANS

6 Months Ended

Jun. 30, 2021

Retirement Benefits [Abstract]

RETIREMENT BENEFITS PLANS

RETIREMENT BENEFITS PLANS

The components of retirement benefits expense (income) follow:

	United States pension benefit expense (income)				Non-United States pension benefit expense (income)				Other postretirement benefits expense (income)
	Three months ended June 30
	2021		2020		2021		2020		2021		2020
Service cost	$	10	$	24	$	19	$	18	$	—	$	1
Interest cost	16		26		11		11		1		2
Expected return on plan assets	(55)		(58)		(30)		(27)		—		—
Amortization	10		26		18		14		—		(3)
	(19)		18		18		16		1		—
Settlements and special termination benefits	12		18		1		3		—		—
Total expense (income)	$	(7)	$	36	$	19	$	19	$	1	$	—
	United States pension benefit expense (income)				Non-United States pension benefit expense (income)				Other postretirement benefits expense (income)
	Six months ended June 30
	2021		2020		2021		2020		2021		2020
Service cost	$	20	$	48	$	38	$	36	$	—	$	1
Interest cost	33		52		21		22		3		4
Expected return on plan assets	(111)		(115)		(60)		(54)		—		—
Amortization	20		51		37		29		(1)		(6)
	(38)		36		36		33		2		(1)
Settlements, curtailments and special termination benefits	26		35		1		6		—		—
Total expense (income)	$	(12)	$	71	$	37	$	39	$	2	$	(1)

During 2020, the Company announced it was freezing its United States pension plans for its non-union employees. The freeze was effective January 1, 2021 for non-union U.S. employees whose retirement benefit was determined under a cash balance formula and is effective January 1, 2026 for non-union U.S. employees whose retirement benefit is determined under a final average pay formula.

During the second quarter of 2021, the Company recognized settlement losses of $13 and remeasured certain pension plans as a result of lump-sum distributions exceeding the sum of service and interest costs for the year. The remeasurement resulted in a decrease in pension liabilities and a corresponding decrease in other comprehensive loss of $181.

The components of retirement benefits expense (income) other than service costs are included in Other (income) expense - net.