v2.4.0.6
Pension Benefits
 3 Months Ended
Mar. 31, 2012
Pension Benefits [Abstract]  
Pension Benefits

9. PENSION BENEFITS

Certain of Delphi's non-U.S. subsidiaries sponsor defined benefit pension plans, which generally provide benefits based on negotiated amounts for each year of service. Delphi's primary non-U.S. plans are located in France, Germany, Luxembourg, Mexico, Portugal and the United Kingdom ("U.K."). The U.K. and certain Mexican plans are funded. In addition, Delphi has defined benefit plans in South Korea, Turkey and Italy for which amounts are payable to employees immediately upon separation. The obligations for these plans are recorded based on the vested obligation.

Delphi sponsors a Supplemental Executive Retirement Program ("SERP") for those employees who were U.S. executives prior to September 30, 2008 and were still U.S. executives on October 7, 2009, the effective date of the program. This program is unfunded. Executives receive benefits over 5 years after an involuntary or voluntary separation from Delphi. The SERP is closed to new members and was frozen effective September 30, 2008.

 

The amounts shown below reflect the defined benefit pension expense for the three months ended March 31, 2012 and 2011:

 

                                 
    

Non-U.S. Plans

    

U.S. Plans

  
     Three Months Ended March 31,  
     2012     2011     2012      2011  
     (in millions)  

Service cost

    $ 11      $ 11      $  —       $  —   

Interest cost

      21        22        1         1   

Expected return on plan assets

      (16 )      (15 )      —         —   
    

 

 

    

 

 

    

 

 

     

 

 

  

Net periodic benefit cost

    $ 16      $ 18      $ 1       $ 1