Benefit Plans

3 Months Ended

Mar. 31, 2019

Note 11. Benefit Plans

Pension Plans

Components of Net Periodic Pension Cost:

Net periodic pension cost consisted of the following:



	U.S. Plans						Non-U.S. Plans
	For the Three Months Ended March 31,						For the Three Months Ended March 31,
	2019			2018			2019			2018
	(in millions)
Service cost	$	9		$	12		$	31		$	38
Interest cost	16			15			51			52
Expected return on plan assets	(22		)	(22		)	(103		)	(117		)
Amortization:
Net loss from experience differences	5			11			38			42
Prior service cost/(credit)	—			1			(2		)	—
Settlement losses	4			7			—			—
Net periodic pension cost	$	12		$	24		$	15		$	15

Employer Contributions:

During the three months ended March 31, 2019, we contributed $1 million to our U.S. pension plans and $68 million to our non-U.S. pension plans, including $38 million to plans in the United Kingdom and Ireland. We make contributions to our pension plans in accordance with local funding arrangements and statutory minimum funding requirements. Discretionary contributions are made to the extent that they are tax deductible and do not generate an excise tax liability.

As of March 31, 2019, over the remainder of 2019, we plan to make further contributions of approximately $4 million to our U.S. plans and approximately $164 million to our non-U.S. plans. Our actual contributions may be different due to many factors, including changes in tax and other benefit laws, significant differences between expected and actual pension asset performance or interest rates.

Multiemployer Pension Plans:

The most individually significant multiemployer plan we participated in prior to the second quarter of 2018 was the Bakery and Confectionery Union and Industry International Pension Fund (the "Fund"). Our obligation to contribute to the Fund arose with respect to 8 collective bargaining agreements covering most of our employees represented by the Bakery, Confectionery, Tobacco and Grain Millers Union. All of those collective bargaining agreements expired in 2016 and we continued to contribute to the Fund through 2018.

In the fourth quarter of 2018, we executed a complete withdrawal from the Fund. We estimated a withdrawal liability of $573 million, which represents our best estimate of the withdrawal liability absent an assessment from the Fund. We anticipate receiving an assessment in 2019, and the ultimate withdrawal liability may change from the currently estimated amount. We will record any future adjustments in the period during which the liability is confirmed or as new information becomes available. We expect to pay the liability over a period of 20 years from the date of the assessment. During the third and fourth quarters of 2018, within our North America segment, we recorded a discounted long-term liability and related charges including accreted interest of $429 million or $321 million net of tax.

Postretirement Benefit Plans

Net periodic postretirement health care benefit consisted of the following:



	For the Three Months Ended March 31,
	2019			2018
	(in millions)
Service cost	$	1		$	2
Interest cost	4			4
Amortization:
Net loss from experience differences	2			4
Prior service credit ⁽¹⁾	(10		)	(10		)
Net periodic postretirement health care benefit	$	(3	)	$	—


(1)	Amortization of prior service credit included gains of $8 million for the three months ended March 31, 2019 and March 31, 2018 related to a change in the eligibility requirement and a change in benefits to Medicare-eligible participants.

Postemployment Benefit Plans

Net periodic postemployment cost consisted of the following:



	For the Three Months Ended March 31,
	2019			2018
	(in millions)
Service cost	$	1		$	2
Interest cost	1			1
Amortization of net gains	(1		)	(1		)
Net periodic postemployment cost	$	1		$	2