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Employee Retirement Plans
9 Months Ended
Sep. 30, 2012
Employee Retirement Plans
J. The Company sponsors qualified defined-benefit or defined-contribution retirement plans for most of its employees. In addition to the Company’s qualified defined-benefit pension plans, the Company has unfunded non-qualified defined-benefit pension plans covering certain employees, which provide for benefits in addition to those provided by the qualified pension plans. Substantially all salaried employees participate in non-contributory defined-contribution retirement plans, to which payments are determined annually by the Organization and Compensation Committee of the Board of Directors. The Company participates in 20 regional multi-employer pension plans, principally related to building trades; none of the plans are considered significant to the Company.

 

     Effective January 1, 2010, the Company froze all future benefit accruals under substantially all of the Company’s domestic qualified and non-qualified defined-benefit pension plans. Future benefit accruals related to the Company’s foreign non-qualified plans were frozen several years ago.

 

     Net periodic pension cost for the Company’s defined-benefit pension plans was as follows, in millions:

 

     Three Months Ended September 30,  
     2012      2011  
     Qualified     Non-Qualified      Qualified     Non-Qualified  

Service cost

   $ 1      $ —         $ 1      $ —     

Interest cost

     12        2         12        2   

Expected return on plan assets

     (10     —           (9     —     

Amortization of net loss

     4        —           2        1   

Net periodic pension cost

   $ 7      $ 2         6        3   
     Nine Months Ended September 30,  
     2012      2011  
     Qualified     Non-Qualified      Qualified     Non-Qualified  

Service cost

   $ 4      $ —         $ 2      $ —     

Interest cost

     32        5         34        6   

Expected return on plan assets

     (27     —           (25     —     

Amortization of net loss

     11        1         7        1   

Net periodic pension cost

   $ 20      $ 6       $ 18      $ 7