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Pension Plans, Retirement Benefits and Savings Plans
 3 Months Ended
Mar. 31, 2012
Pension Plans, Retirement Benefits and Savings Plans disclosure  
Pension Plans, Retirement Benefits and Savings Plans disclosure [Text Block]

10.                               PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS

 

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

 

 

 

Pension Plans

 

Postretirement Benefit Plans

 

(for the three months ended March 31, in millions)

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

Net Periodic Benefit Cost:

 

 

 

 

 

 

 

 

 

Service cost

 

$

 28

 

$

 25

 

$

—

 

$

—

 

Interest cost on benefit obligation

 

35

 

34

 

3

 

3

 

Expected return on plan assets

 

(47

)

(46

)

—

 

—

 

Amortization of unrecognized:

 

 

 

 

 

 

 

 

 

Prior service benefit

 

—

 

—

 

—

 

—

 

Net actuarial loss

 

22

 

19

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

Net benefit expense

 

$

 38

 

$

 32

 

$

 3

 

$

 3