XML 69 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Pension and Postretirement Benefit Plans
 9 Months Ended
Sep. 30, 2014
Compensation and Retirement Disclosure [Abstract]  
Pension and Postretirement Benefit Plans
Pension and Postretirement Benefit Plans

We have a number of defined contribution and defined benefit, qualified and nonqualified, pension plans covering eligible employees. Other postretirement benefits (OPEB), including medical and life insurance, are provided for certain employees upon retirement.

Components of net periodic benefit cost (credit) — 
 
 
Pension
 
 
 
 
2014
 
2013
 
OPEB - Non-U.S.
Three Months Ended September 30,
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
 
2014
 
2013
Interest cost
 
$
16

 
$
3

 
$
18

 
$
3

 
$
1

 
$
2

Expected return on plan assets
 
(28
)
 


 
(29
)
 


 


 


Service cost
 


 
1

 


 
1

 


 


Amortization of net actuarial loss
 
3

 
1

 
5

 
1

 


 


Net periodic benefit cost (credit)
 
$
(9
)
 
$
5

 
$
(6
)
 
$
5

 
$
1

 
$
2

 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30,
 
 

 
 

 
 

 
 

 
 

 
 

Interest cost
 
$
56

 
$
9

 
$
56

 
$
9

 
$
4

 
$
4

Expected return on plan assets
 
(83
)
 


 
(87
)
 


 


 


Service cost
 


 
4

 


 
4

 


 


Amortization of net actuarial loss
 
11

 
3

 
15

 
3

 


 


Net periodic benefit cost (credit)
 
$
(16
)
 
$
16

 
$
(16
)
 
$
16

 
$
4

 
$
4


 
The U.S. amounts disclosed above for 2014 include the adjustment described in Note 1 to the financial statements.

We initiated a program in September 2014 under which certain former employees with vested pension benefits have been offered lump-sum payments to settle those pension obligations. The same participants will also have an option under the program to begin receiving monthly benefits soon after the program ends – earlier than previously allowed under the related plans. This voluntary program, which ends November 3, 2014, provides for lump-sum payments to be made in December 2014 using plan assets. The lump-sum payments would effect settlement of the related obligations, resulting in the recognition of a settlement charge in the fourth quarter. The amount of this charge will be a function of the assumptions underlying the year-end valuation and the number of participants electing to receive lump-sum payments. See Critical Accounting Estimates under Management's Discussion and Analysis of Financial Condition and Results of Operations in Item 2 of Part I for comments regarding the potential impact of this program.