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Retirement Benefits (Notes)
 9 Months Ended
Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]  
RETIREMENT BENEFITS
RETIREMENT BENEFITS

In the first quarter of 2015, we recorded a $782 million adjustment to correct for an understatement in the year-end 2014 valuation of our U.S. pension benefit obligation. The adjustment reduced Other assets by $301 million and increased Other liabilities and deferred revenue by $481 million. The resulting after-tax adjustment to Other comprehensive income was a loss of $508 million. The adjustments were not material to current or prior period financial statements.
Defined Benefit Plans - Expense

The pre-tax 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
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Service cost
$
147

 
$
127

 
$
133

 
$
118

 
$
15

 
$
13

Interest cost
454

 
498

 
236

 
302

 
59

 
68

Expected return on assets
(689
)
 
(678
)
 
(346
)
 
(383
)
 
—

 
—

Amortization of:
 

 
 

 
 

 
 

 
 

 
 

Prior service costs/(credits)
38

 
38

 
13

 
15

 
(51
)
 
(58
)
(Gains)/Losses
116

 
52

 
200

 
149

 
36

 
24

Separation programs/other
6

 
8

 
11

 
15

 
(1
)
 
1

Recognition of (gains)/losses due to:
 
 
 
 
 
 
 
 
 
 
 
Curtailments
—

 
—

 
—

 
—

 
—

 
—

Settlements
—

 
—

 
9

 
—

 
—

 
—

  Total expense/(income)
$
72

 
$
45

 
$
256

 
$
216

 
$
58

 
$
48


 
First Nine Months
 
Pension Benefits
 
 
 
 
 
U.S. Plans
 
Non-U.S. Plans
 
Worldwide OPEB
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Service cost
$
440

 
$
380

 
$
401

 
$
356

 
$
45

 
$
40

Interest cost
1,363

 
1,494

 
707

 
904

 
178

 
202

Expected return on assets
(2,066
)
 
(2,034
)
 
(1,038
)
 
(1,145
)
 
—

 
—

Amortization of:
 
 
 

 
 
 
 
 
 
 


Prior service costs/(credits)
116

 
116

 
36

 
42

 
(154
)
 
(172
)
(Gains)/Losses
348

 
155

 
604

 
445

 
107

 
73

Separation programs/other
7

 
9

 
30

 
54

 
1

 
1

Recognition of (gains)/losses due to:
 
 
 
 
 
 
 
 
 
 
 
Curtailments
—

 
—

 
—

 
—

 
—

 
—

Settlements
—

 
—

 
9

 
14

 
—

 
—

  Total expense/(income)
$
208

 
$
120

 
$
749

 
$
670

 
$
177

 
$
144



Pension Plan Contributions

In 2015, we expect to contribute $1.1 billion from Automotive cash and cash equivalents to our worldwide funded pension plans (most of which are mandatory contributions), and to make about $400 million of benefit payments to participants in unfunded plans, for a total of $1.5 billion. In the first nine months of 2015, we contributed about $900 million to our worldwide funded pension plans and made about $300 million of benefit payments to participants in unfunded plans.