PENSIONS AND OTHER POSTRETIREMENT BENEFITS

9 Months Ended

Sep. 30, 2021

Postemployment Benefits [Abstract]

PENSIONS AND OTHER POSTRETIREMENT BENEFITS

NOTE 10 - 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 September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Service cost	$	14	$	5	$	42	$	16
Interest cost	26		20		78		43
Expected return on plan assets	(89)		(38)		(269)		(93)
Amortization:
Prior service costs	1		1		1		1
Net actuarial loss	8		8		24		21
Net periodic benefit credits	$	(40)	$	(4)	$	(124)	$	(12)

OPEB Costs (Credits)

	(In Millions)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Service cost	$	13	$	1	$	38	$	3
Interest cost	19		4		56		11
Expected return on plan assets	(10)		(4)		(30)		(13)
Amortization:
Prior service credits	(2)		(1)		(2)		(2)
Net actuarial loss	1		1		3		2
Net periodic benefit costs	$	21	$	1	$	65	$	1

Based on funding requirements, we made defined benefit pension contributions of $1 million and $154 million for the three and nine months ended September 30, 2021, respectively, compared to defined benefit pension contributions of $1 million and $5 million for the three and nine months ended September 30, 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. For the three and nine months ended September 30, 2021, we made contributions of $22 million and $27 million, respectively, for our voluntary employee benefit association trust plans. Based on funding requirements, no contributions for our voluntary employee benefit association trust plans were required or made for the three and nine months ended September 30, 2020.