Pension Plans, Retirement Benefits and Savings Plans

9 Months Ended

Sep. 30, 2011

Pension Plans, Retirement Benefits and Savings Plans disclosure

Pension Plans, Retirement Benefits and Savings Plans disclosure [Text Block]

9. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS

The following tables summarize the components of net periodic benefit cost for the Company’s pension and postretirement benefit plans recognized in the consolidated statement of income.

(for the three months ended September 30, in	Pension Plans						Postretirement Benefit Plans
millions)	2011			2010			2011		2010
Net Periodic Benefit Cost:
Service cost	$	25		$	24		$	1	$	1
Interest cost on benefit obligation	33			32			3		4
Expected return on plan assets	(46		)	(46		)	—		(1		)
Amortization of unrecognized:
Prior service benefit	—			—			—		—
Net actuarial loss	20			15			—		—
Net benefit expense	$	32		$	25		$	4	$	4

(for the nine months ended September 30, in	Pension Plans						Postretirement Benefit Plans
millions)	2011			2010			2011			2010
Net Periodic Benefit Cost:
Service cost	$	74		$	72		$	1		$	1
Interest cost on benefit obligation	101			96			10			11
Expected return on plan assets	(137		)	(138		)	(1		)	(1		)
Amortization of unrecognized:
Prior service benefit	—			(2		)	—			—
Net actuarial loss	58			45			—			—
Net benefit expense	$	96		$	73		$	10		$	11

Employer Contribution

In August 2011, the Company made a contribution of $35 million to its qualified domestic pension plan.