PENSION AND OTHER POSTRETIREMENT BENEFITS

9 Months Ended

Jul. 31, 2015

PENSION AND OTHER POSTRETIREMENT BENEFITS

PENSION AND OTHER POSTRETIREMENT BENEFITS

(7)  The Company has several defined benefit pension plans and defined postretirement health care and life insurance plans covering its U.S. employees and employees in certain foreign countries.

The worldwide components of net periodic pension cost consisted of the following in millions of dollars:

	Three Months Ended				Nine Months Ended
	July 31				July 31
	2015		2014		2015		2014
Service cost	$	70	$	61	$	212	$	184
Interest cost		118		119		356		358
Expected return on plan assets		(192)		(192)		(577)		(578)
Amortization of actuarial loss		55		43		165		129
Amortization of prior service cost		7		6		19		18
Settlements/curtailments		4		2		5		8
Net cost	$	62	$	39	$	180	$	119

The worldwide components of net periodic postretirement benefits cost (health care and life insurance) consisted of the following in millions of dollars:

	Three Months Ended				Nine Months Ended
	July 31				July 31
	2015		2014		2015		2014
Service cost	$	12	$	11	$	35	$	33
Interest cost		65		66		194		197
Expected return on plan assets		(14)		(18)		(42)		(53)
Amortization of actuarial loss		22		8		68		25
Amortization of prior service credit		(19)				(57)		(2)
Net cost	$	66	$	67	$	198	$	200

During the first nine months of 2015, the Company contributed approximately $61 million to its pension plans and $22 million to its other postretirement benefit plans.  The Company presently anticipates contributing an additional $16 million to its pension plans and $5 million to its other postretirement benefit plans during the remainder of fiscal year 2015.  These contributions include payments from Company funds to either increase plan assets or make direct payments to plan participants.