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Retirement Benefits
3 Months Ended
Sep. 30, 2011
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] 
Retirement Benefits [Text Block]

Note 11: Retirement Benefits

 

 

Net pension and retiree health benefit expense included the following components:

 

                               

 

 

Defined Benefit Pension Plans

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

2011

 

 

2010

 

 

2011

 

 

2010

 

 

 

 

 

 

(Dollars in millions)

Components of net periodic benefit cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

 

$  57.7

 

 

$

54.7

 

 

$

174.7

 

 

$

165.5

Interest cost

 

 

111.8

 

 

 

107.9

 

 

 

335.8

 

 

 

323.7

Expected return on plan assets

 

 

(171.9

)

 

 

(158.8)

 

 

 

(515.2)

 

 

 

(476.4)

Amortization of prior service cost

 

 

2.2

 

 

 

1.7

 

 

 

6.9

 

 

 

5.0

Recognized actuarial loss

 

 

50.4

 

 

 

41.2

 

 

 

149.2

 

 

 

123.5

 

 

 

 

Net periodic benefit cost

 

 

$  50.2

 

 

$

46.7

 

 

$

151.4

 

 

$

141.3

 

 

 

 

                               

 

 

 

 

Retiree Health Benefit Plans

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

2011

 

 

2010

 

 

2011

 

 

2010

 

 

 

 

 

 

(Dollars in millions)

Components of net periodic benefit cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

 

$  14.4

 

 

$

14.1

 

 

$

43.1

 

 

$

42.2

Interest cost

 

 

29.5

 

 

 

30.3

 

 

 

88.6

 

 

 

90.2

Expected return on plan assets

 

 

(31.9

)

 

 

(30.6)

 

 

 

(95.7)

 

 

 

(92.0)

Amortization of prior service cost

 

 

(10.7

)

 

 

(9.3)

 

 

 

(32.2)

 

 

 

(27.9)

Recognized actuarial loss

 

 

22.2

 

 

 

21.3

 

 

 

66.5

 

 

 

63.8

 

 

 

 

Net periodic benefit cost

 

 

$  23.5

 

 

$

25.8

 

 

$

70.3

 

 

$

76.3

 

On a global basis, we have contributed to our defined benefit pension plans in 2011 substantially all of the $80 million required to satisfy minimum funding requirements. In addition, we have contributed approximately $250 million of discretionary funding in the aggregate to several of our global post-retirement benefit plans in 2011. We do not anticipate making any substantial contributions during the remainder of the year.