Benefit Plans |
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Mar. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Benefit Plans | Benefit Plans: Components of Net Periodic Benefit Cost (Income) Net periodic benefit cost (income) consisted of the following:
Employer Contributions Altria Group, Inc. makes contributions to the pension plans to the extent that the contributions are tax deductible and pays benefits that relate to plans for salaried employees that cannot be funded under Internal Revenue Service regulations. Employer contributions of $7 million were made to Altria Group, Inc.’s pension plans during the three months ended March 31, 2018. Currently, Altria Group, Inc. anticipates making additional employer contributions to its pension plans during the remainder of 2018 of up to approximately $35 million, based on current tax law. However, this estimate is subject to change as a result of changes in tax and other benefit laws, as well as asset performance significantly above or below the assumed long-term rate of return on pension assets, changes in interest rates, or other considerations. In December 2017, Altria Group, Inc. made a contribution of $270 million to a trust to fund certain postretirement benefits. Prior to this contribution, Altria Group, Inc.’s postretirement plans were not funded. Altria Group, Inc. did not make any employer contributions to its postretirement plans during the three months ended March 31, 2018. Currently, Altria Group, Inc. anticipates making employer contributions to its postretirement plans of up to approximately $70 million in 2018. However, this estimate is subject to change as a result of changes in tax and other benefit laws, as well as asset performance significantly above or below the assumed long-term rate of return on postretirement assets, or other considerations. |