v2.4.0.6
Pensions And Other Postretirement Benefits Pension and OPEB (Notes)
 3 Months Ended
Mar. 31, 2012
Pensions and Other Postretirement Benefits [Abstract]  
Pension and Other Postretirement Benefits Disclosure [Text Block]
Pensions and Other Postretirement Benefits

Contributions

We made a contribution in January 2011 to our U.S. hourly and salaried defined benefit pension plans of 61 million shares of our common stock valued at $2.2 billion for funding purposes at the time of contribution. The contributed shares qualified as a plan asset for funding purposes at the time of contribution and as a plan asset valued at $1.9 billion for accounting purposes in July 2011. This was a voluntary contribution above our funding requirements for the pension plans.

We continue to pursue various options to fund and derisk our pension plans, including continued changes to the pension asset portfolio mix to reduce funded status volatility and ceasing accrual of additional benefits in the U. S. salaried pension plan effective September 30, 2012. We are currently exploring other options that could result in a settlement of some of our pension liabilities.

Net Periodic Pension and OPEB Expense

The following tables summarize the components of net periodic pension and other postretirement benefits (OPEB) (income) expense (dollars in millions):
 
Three Months Ended March 31, 2012
 
U.S. Plans
Pension Benefits
 
Non-U.S. Plans
Pension Benefits
 
U.S. Plans
Other Benefits
 
Non-U.S. Plans
Other Benefits
Service cost
$
160

 
$
92

 
$
5

 
$
5

Interest cost
1,080

 
277

 
59

 
16

Expected return on plan assets
(1,332
)
 
(217
)
 
—

 
—

Amortization of prior service credit
—

 
—

 
(29
)
 
(2
)
Recognized net actuarial loss
—

 
8

 
13

 
1

Curtailments, settlements, and other (gains) losses
(21
)
 
28

 
—

 
—

Net periodic pension and OPEB (income) expense
$
(113
)
 
$
188

 
$
48

 
$
20


 
Three Months Ended March 31, 2011
 
U.S. Plans
Pension Benefits
 
Non-U.S. Plans
Pension Benefits
 
U.S. Plans
Other Benefits
 
Non-U.S. Plans
Other Benefits
Service cost
$
158

 
$
96

 
$
6

 
$
9

Interest cost
1,229

 
301

 
67

 
52

Expected return on plan assets
(1,674
)
 
(230
)
 
—

 
—

Amortization of prior service credit
—

 
—

 
—

 
(2
)
Recognition of net actuarial loss
—

 
—

 
1

 
—

Curtailments, settlements, and other losses
—

 
3

 
—

 
—

Net periodic pension and OPEB (income) expense
$
(287
)
 
$
170

 
$
74

 
$
59


Significant Plan Amendments, Benefit Modifications and Related Events

In January 2012 we amended the U.S. salaried pension plan to cease the accrual of additional benefits effective September 30, 2012. This amendment resulted in a curtailment which decreased the liability and decreased the net actuarial loss component of Accumulated other comprehensive income by $309 million. Active plan participants will receive additional contributions in the defined contribution plan starting in October 2012.

Remeasurements

In the three months ended March 31, 2012 certain pension plans in GME were remeasured as part of our Goodwill impairment testing, resulting in an increase of $150 million in Pensions and a pre-tax increase in the net actuarial loss component of Accumulated other comprehensive income.

In the three months ended March 31, 2011 certain pension plans in GME were remeasured as part of our Goodwill impairment testing, resulting in a decrease of $272 million in Pensions and a pre-tax increase in the net actuarial gain component of Accumulated other comprehensive income.

Refer to Note 9 for additional information on our Goodwill impairment.