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Employee Benefit Plans | 3 Months Ended
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Mar. 31, 2021
Retirement Benefits [Abstract] |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS Pension and Other Postretirement Plans The Company has funded and non-funded non-contributory defined benefit pension plans (“Pension Benefits”), which cover substantially all of its employees. For some employees, benefits are based on final average earnings and length of service, while benefits for other employees are based on an account balance that takes into consideration age, length of service and earnings during their career. The Company provides certain health care and life insurance benefits for its retired employees, their beneficiaries and covered dependents (“Other Postretirement Benefits”). The health care plan is contributory; the life insurance plan is non-contributory. Substantially all of the Company’s U.S. employees may become eligible to receive other postretirement benefits if they retire after age 55 with at least 10 years of service or under certain circumstances after age 50 with at least 20 years of continuous service. Net periodic (benefit) cost included in “General and administrative expenses” includes the following components:
| Three Months Ended March 31,
| Pension Benefits |  | Other Postretirement Benefits
| 2021 |  | 2020 |  | 2021 |  | 2020
| (in millions)
Components of net periodic (benefit) cost: |  |  |  |  |  |  |
Service cost | $ | 83 |  |  | $ | 80 |  |  | $ | 6 |  |  | $ | 6 |
Interest cost | 90 |  |  | 108 |  |  | 12 |  |  | 16 |
Expected return on plan assets | (205) |  |  | (201) |  |  | (25) |  |  | (25) |
Amortization of prior service cost | (1) |  |  | (1) |  |  | 2 |  |  | 2 |
Amortization of actuarial (gain) loss, net | 62 |  |  | 65 |  |  | 4 |  |  | 4 |
Settlements | 1 |  |  | 0 |  |  | 0 |  |  | 0 |
Special termination benefits(1) | 1 |  |  | 2 |  |  | 0 |  |  | 0 |
Net periodic (benefit) cost | $ | 31 |  |  | $ | 53 |  |  | $ | (1) |  |  | $ | 3 |
__________ (1)For 2020 and 2021, certain employees were provided special termination benefits under non-qualified plans in the form of unreduced early retirement benefits as a result of their involuntary termination or participation in the Voluntary Separation Program that was offered to eligible U.S.-based employees in 2019.

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