Pension Plans, Retirement Benefits and Savings Plans

9 Months Ended

Sep. 30, 2012

Pension Plans, Retirement Benefits and Savings Plans disclosure

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

11.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)	2012			2011			2012		2011
Net Periodic Benefit Cost:
Service cost	$	28		$	25		$	—	$	1
Interest cost on benefit obligation	34			33			3		3
Expected return on plan assets	(46		)	(46		)	—		—
Amortization of unrecognized:
Prior service benefit	—			—			—		—
Net actuarial loss	22			20			—		—
Net benefit expense	$	38		$	32		$	3	$	4

(for the nine months ended September 30, in	Pension Plans						Postretirement Benefit Plans
millions)	2012			2011			2012			2011
Net Periodic Benefit Cost:
Service cost	$	85		$	74		$	—		$	1
Interest cost on benefit obligation	103			101			9			10
Expected return on plan assets	(140		)	(137		)	(1		)	(1		)
Amortization of unrecognized:
Prior service benefit	—			—			—			—
Net actuarial loss	67			58			—			—
Net benefit expense	$	115		$	96		$	8		$	10

Employer Contribution

In September 2012 and August 2011, the Company made voluntary contributions of $67 million and $35 million, respectively, to its qualified domestic pension plan.