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Retirement Benefits
 3 Months Ended
Sep. 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 September 30 was as follows (in millions):
 
Third Quarter
 
Pension Benefits
 
 
 
 
 
U.S. Plans
 
Non-U.S. Plans
 
Worldwide OPEB
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
Service cost
$
130

 
$
116

 
$
92

 
$
83

 
$
17

 
$
16

Interest cost
552

 
594

 
293

 
312

 
72

 
83

Expected return on assets
(718
)
 
(757
)
 
(332
)
 
(356
)
 
—

 
—

Amortization of
 

 
 

 
 

 
 

 
 

 
 

Prior service costs/(credits)
55

 
86

 
18

 
18

 
(137
)
 
(151
)
(Gains)/Losses
106

 
49

 
102

 
75

 
33

 
28

Separation programs/other
(1
)
 
—

 
9

 
80

 
—

 
8

(Gains)/Losses from curtailments and settlements
—

 
—

 
—

 
—

 
—

 
(23
)
Net expense/(income)
$
124

 
$
88

 
$
182

 
$
212

 
$
(15
)
 
$
(39
)

 
First Nine Months
 
Pension Benefits
 
 
 
 
 
U.S. Plans
 
Non-U.S. Plans
 
Worldwide OPEB
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
Service cost
$
390

 
$
350

 
$
278

 
$
247

 
$
51

 
$
47

Interest cost
1,656

 
1,782

 
889

 
929

 
216

 
248

Expected return on assets
(2,154
)
 
(2,271
)
 
(1,001
)
 
(1,062
)
 
—

 
—

Amortization of
 
 
 

 
 
 
 

 
 
 
 

Prior service costs/(credits)
165

 
257

 
54

 
54

 
(409
)
 
(454
)
(Gains)/Losses
318

 
145

 
308

 
228

 
97

 
85

Separation programs/other
4

 
(1
)
 
54

 
140

 
1

 
9

(Gains)/Losses from curtailments and settlements
—

 
—

 
—

 
104

 
(10
)
 
(23
)
Net expense/(income)
$
379

 
$
262

 
$
582

 
$
640

 
$
(54
)
 
$
(88
)


Pension Plan Contributions

In the first nine months of 2012, we contributed about $2.5 billion to our worldwide funded pension plans (including $1.5 billion in discretionary contributions to our U.S. plans), and made about $300 million of benefit payments directly by the Company for unfunded plans.  We expect to contribute from Automotive cash and cash equivalents an additional $900 million to our worldwide funded plans in 2012 (including discretionary contributions to our U.S. plans of $500 million), and to make an additional $100 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.