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Retirement Benefits
 3 Months Ended
Jun. 30, 2012
Compensation and Retirement Disclosure [Abstract]  
RETIREMENT BENEFITS
RETIREMENT BENEFITS

We provide pension benefits and OPEB, such as health care and life insurance, to employees in many of our operations around the world.

The expense for our defined benefit pension and OPEB plans for the periods ended June 30 was as follows (in millions):
 
Second Quarter
 
Pension Benefits
 
 
 
 
 
U.S. Plans
 
Non-U.S. Plans
 
Worldwide OPEB
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
Service cost
$
130

 
$
117

 
$
93

 
$
84

 
$
17

 
$
16

Interest cost
552

 
594

 
298

 
314

 
72

 
83

Expected return on assets
(718
)
 
(757
)
 
(335
)
 
(358
)
 
—

 
—

Amortization of
 

 
 

 
 

 
 

 
 

 
 

Prior service costs/(credits)
55

 
85

 
18

 
18

 
(136
)
 
(151
)
(Gains)/Losses
106

 
48

 
103

 
77

 
32

 
28

Separation programs/other
(2
)
 
—

 
11

 
48

 
—

 
1

(Gains)/Losses from curtailments and settlements
—

 
—

 
—

 
104

 
—

 
—

Net expense/(income)
$
123

 
$
87

 
$
188

 
$
287

 
$
(15
)
 
$
(23
)

 
First Half
 
Pension Benefits
 
 
 
 
 
U.S. Plans
 
Non-U.S. Plans
 
Worldwide OPEB
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
Service cost
$
260

 
$
234

 
$
186

 
$
164

 
$
34

 
$
31

Interest cost
1,104

 
1,188

 
596

 
617

 
144

 
165

Expected return on assets
(1,436
)
 
(1,514
)
 
(669
)
 
(706
)
 
—

 
—

Amortization of
 
 
 

 
 
 
 

 
 
 
 

Prior service costs/(credits)
110

 
171

 
36

 
36

 
(272
)
 
(303
)
(Gains)/Losses
212

 
96

 
206

 
153

 
64

 
57

Separation programs/other
5

 
(1
)
 
45

 
60

 
1

 
1

(Gains)/Losses from curtailments and settlements
—

 
—

 
—

 
104

 
(10
)
 
—

Net expense/(income)
$
255

 
$
174

 
$
400

 
$
428

 
$
(39
)
 
$
(49
)


Pension Plan Contributions

In the first half of 2012, we contributed about $1.9 billion to our worldwide funded pension plans (including $1 billion in discretionary contributions to our U.S. plans), and made about $200 million of benefit payments directly by the Company for unfunded plans.  We expect to contribute from Automotive cash and cash equivalents an additional $1.5 billion to our worldwide funded plans in 2012 (including discretionary contributions to our U.S. plans of $1 billion), and to make an additional $200 million of benefit payments directly by the Company for unfunded plans, for a total of about $3.8 billion this year.

Based on current assumptions and regulations, we do not expect to have a legal requirement to fund our major U.S. pension plans in 2012 or 2013.