Employee Retirement Plans

3 Months Ended

Mar. 31, 2020

Employee Retirement Plans [Abstract]

Employee Retirement Plans

4. Employee Retirement Plans

We have defined benefit pension plans covering certain domestic and international employees. Our funding policy is to contribute, over time, an amount exceeding the minimum requirements to achieve the Company’s long-term funding targets. During 2020, we expect to make cash contributions of $54 million to our international pension plans.

The following table summarizes the components of net periodic benefit cost for Corning’s defined benefit pension and postretirement health care and life insurance plans (in millions):

	Pension benefits				Postretirement benefits
	Three months ended				Three months ended
	March 31,				March 31,
	2020		2019		2020		2019
Service cost	$	29	$	25	$	2	$	2
Interest cost		31		37		5		7
Expected return on plan assets		(49)		(43)
Amortization of prior service ‎   cost (credit)		1		2		(1)		(2)
Total pension and postretirement ‎   benefit expense	$	12	$	21	$	6	$	7

The components of net periodic benefit cost other than the service cost component are included in the line item other expense, net, in the consolidated statements of (loss) income.