EMPLOYEE BENEFIT PLANS

3 Months Ended

Mar. 31, 2020

Pension Plans. The Company sponsors both funded and unfunded domestic and international defined pension and other post-retirement benefit plans, and defined contribution plans. Additionally, the Company contributes to various domestic and international multi-employer defined pension and other post-retirement benefit plans.

Contributions to the plans were as follows:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Defined benefit plans	$	25	$	22
Defined contribution plans	$	30	$	25
Multi-employer pension plans	$	5	$	5

The following table illustrates the components of net periodic pension benefits for our defined pension and post-retirement benefit plans:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Service cost	$	8	$	8
Interest cost	13		17
Expected return on plan assets	(35)		(39)
Amortization of prior service credit	1		1
Recognized actuarial net loss	5		2
Net settlement, curtailment and special termination benefit loss	1		—
Net periodic pension benefit	$	(7)	$	(11)

UTC Sponsored Defined Benefit Plans. Defined benefit pension and post-retirement benefit plans sponsored by UTC have been accounted for as multi-employer plans in the Unaudited Condensed Combined Financial Statements, in accordance with ASC Topic 715-30: Defined Benefit Plans – Pension and ASC Topic 715-60: Defined Benefit Plans – Other Post-retirement. ASC Topic 715: Compensation-Retirement Benefits, which provides that an employer that participates in a multi-employer defined benefit plan is not required to report a liability beyond the contributions currently due and unpaid to the plan. Therefore, no assets or liabilities related to these plans have been included in the Unaudited Condensed Combined Balance Sheet.

The pension and post-retirement expenses associated with the UTC plans were allocated to the Company and reported in Cost of products, Cost of services sold, Selling, general and administrative and Non-service pension benefit on the accompanying Unaudited Condensed Combined Statement of Operations. The pension and post-retirement expenses were as follows:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Service cost	$	—	$	4
Non-service pension benefit	(2)		(20)
Total net periodic benefit	$	(2)	$	(16)