PENSION AND OTHER POSTRETIREMENT BENEFITS

3 Months Ended

Mar. 31, 2024

Retirement Benefits [Abstract]

PENSION AND OTHER POSTRETIREMENT BENEFITS

NOTE 3. PENSIONS AND OTHER POSTRETIREMENT BENEFITS

We sponsor funded and unfunded domestic and foreign defined benefit pension and other postretirement benefit (OPEB) plans. Contributions to these plans were as follows:

	Three months ended
	March 31,
In millions	2024		2023
Defined benefit pension contributions	$	39	$	88
OPEB payments, net	9		4
Defined contribution pension plans	48		43

We anticipate making additional defined benefit pension contributions during the remainder of 2024 of $29 million for our U.S. and U.K. qualified and non-qualified pension plans. These contributions may be made from trusts or company funds either to increase pension assets or to make direct benefit payments to plan participants. We expect our 2024 annual net periodic pension cost to approximate $34 million.

The components of net periodic pension and OPEB expense (income) under our plans were as follows:

	Pension
	U.S. Plans				U.K. Plans				OPEB
	Three months ended March 31,
In millions	2024		2023		2024		2023		2024		2023
Service cost	$	35	$	29	$	4	$	4	$	—	$	—
Interest cost	42		42		18		17		2		2
Expected return on plan assets	(72)		(69)		(25)		(25)		—		—
Recognized net actuarial loss (gain)	3		2		3		—		(1)		(1)
Net periodic benefit expense (income)	$	8	$	4	$	—	$	(4)	$	1	$	1