Employee Benefits

3 Months Ended

Mar. 31, 2021

Retirement Benefits [Abstract]

Employee Benefits

EMPLOYEE BENEFITS

Pension and other defined contribution retirement plan expenses included the following components:

(DOLLARS IN MILLIONS)	U.S. Plans
	Three Months Ended March 31,
	2021		2020
Interest cost on projected benefit obligation(2)	$	3	$	4
Expected return on plan assets(2)	(5)		(7)
Net amortization and deferrals(2)	2		2
Net periodic benefit (income) cost	$	—	$	(1)

(DOLLARS IN MILLIONS)	Non-U.S. Plans
	Three Months Ended March 31,
	2021		2020
Service cost for benefits earned(1)	$	10	$	6
Interest cost on projected benefit obligation(2)	2		3
Expected return on plan assets(2)	(12)		(12)
Net amortization and deferrals(2)	5		4
Net periodic benefit (income) cost	$	5	$	1

_______________________ 

(1)Included as a component of Operating profit.

(2)Included as a component of Other (income) expense, net.

The Company expects to contribute a total of $4 million to its U.S. pension plans and a total of $25 million to its Non-U.S. Plans during 2021. During the three months ended March 31, 2021, no contributions were made to the qualified U.S. pension plans, $8 million of contributions were made to the non-U.S. pension plans, and $1 million of benefit payments were made with respect to the Company's non-qualified U.S. pension plan.

Income (expense) recognized for postretirement benefits other than pensions included the following components: 

	Three Months Ended March 31,
(DOLLARS IN MILLIONS)	2021		2020
Net amortization and deferrals	$	(1)	$	(1)
Total postretirement benefit income	$	(1)	$	(1)

The Company expects to contribute $4 million to its postretirement benefits other than pension plans during 2021. In the three months ended March 31, 2021, $1 million of contributions were made.