PENSIONS AND OTHER POSTRETIREMENT BENEFITS

3 Months Ended

Mar. 31, 2021

Postemployment Benefits [Abstract]

PENSIONS AND OTHER POSTRETIREMENT BENEFITS

We offer defined benefit pension plans, defined contribution pension plans and OPEB plans to a significant portion of our employees and retirees. Benefits are also provided through multiemployer plans for certain union members.

The following are the components of defined benefit pension and OPEB costs (credits):

Defined Benefit Pension Costs (Credits)

	(In Millions)
	Three Months Ended March 31,
	2021		2020
Service cost	$	14	$	5
Interest cost	26		8
Expected return on plan assets	(90)		(18)
Amortization:
Net actuarial loss	8		7
Net periodic benefit cost (credit)	$	(42)	$	2

OPEB Costs (Credits)

	(In Millions)
	Three Months Ended March 31,
	2021		2020
Service cost	$	13	$	1
Interest cost	18		2
Expected return on plan assets	(10)		(5)
Amortization:
Prior service credits	—		(1)
Net actuarial loss	1		1
Net periodic benefit cost (credit)	$	22	$	(2)

Based on funding requirements, we made defined benefit pension contributions of $146 million and $4 million for the three months ended March 31, 2021 and 2020, respectively. As a result of the CARES Act enacted on March 27, 2020, we deferred $118 million of 2020 pension contributions, which were paid on January 4, 2021. Based on funding requirements, no contributions for our voluntary employee benefit association trust plans were required or made for the three months ended March 31, 2021 and 2020.