Note 10 - Pension and Postretirement Benefit Plans

6 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Retirement Benefits [Text Block]

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												OPEB
	2021						2020						2021		2020
Three Months Ended June 30,	U.S.			Non-U.S.			U.S.			Non-U.S.			Non-U.S.		Non-U.S.
Interest cost	$	4		$	1		$	5		$	2		$	—	$	—
Expected return on plan assets		(6	)		(1	)		(8	)		(1	)
Service cost					2						2
Amortization of net actuarial loss		2			3			3			2
Net periodic benefit cost (credit)	$	—		$	5		$	—		$	5		$	—	$	—
Six Months Ended June 30,
Interest cost	$	7		$	2		$	10		$	3		$	1	$	1
Expected return on plan assets		(13	)		(1	)		(17	)		(2	)
Service cost					4						4
Amortization of net actuarial loss		4			5			6			4
Net periodic benefit cost (credit)	$	(2	)	$	10		$	(1	)	$	9		$	1	$	1

The service cost components of net periodic pension and OPEB costs are included in cost of sales and selling, general and administrative expenses as part of compensation cost and are eligible for capitalization in inventory and other assets. The non-service components are reported in other income (expense), net and are not eligible for capitalization.