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Postretirement Benefit Plans
 3 Months Ended
Mar. 31, 2012
Postretirement Benefit Plans [Abstract]  
POSTRETIREMENT BENEFIT PLANS NOTE 13 POSTRETIREMENT BENEFIT PLANS

NOTE 13

POSTRETIREMENT BENEFIT PLANS

The following table provides the components of net periodic benefit cost for pension plans and other employee-related benefit plans for the quarters ended March 31, 2012 and 2011.

 

                                                 
    2012     2011  
     Pension     Other
Benefits		     Total     Pension     Other
Benefits		     Total  

Net periodic benefit cost

                                                

Service cost

   $ 2     $ —     $ 2     $ 1     $ 1     $ 2  

Interest cost

     3       2       5       4       2       6  

Expected return on plan assets

     (4 )      —       (4 )      (5 )      —       (5 ) 

Amortization of net actuarial loss

     2       1       3       1       1       2  
Net periodic benefit cost (income)   $ 3     $ 3     $ 6     $ 1     $ 4     $ 5  

During the first quarter of 2012, we contributed $32 to our U.S. pension plans, including a $15 discretionary contribution and $17 in required 2012 contributions. We do not expect to make additional contributions to our U.S. pension plans during the remainder of 2012.

In connection with the first quarter contributions, we remeasured our projected benefit obligations and plan assets for our U.S. pension plans. As a result of the remeasurement, the funded status of our U.S. pension plans improved by $41 and an after-tax adjustment of $9 was recorded to unrecognized actuarial loss included in accumulated other comprehensive income. At March 31, 2012, in the aggregate, ITT’s net postretirement liability was $296.