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Net Periodic Pension and Postretirement Benefit Costs
3 Months Ended
Mar. 31, 2019
Net Periodic Pension and Postretirement Benefit Costs  
Net Periodic Pension and Postretirement Benefit Costs

10.     Net Periodic Pension and Postretirement Benefit Costs

 

For detailed information about the Company’s pension and postretirement benefit plans, please refer to Note 10 of the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. 

 

The following table sets forth the components of net periodic benefit cost of the U.S. and non-U.S. defined benefit pension plans for the periods presented:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 

 

 

 

U.S. Plans

 

Non-U.S. Plans

 

 (in millions)

    

2019

    

2018

    

2019

    

2018

  

Service cost

 

$

1

 

$

1

 

$

1

 

$

1

 

Interest cost

 

 

4

 

 

3

 

 

3

 

 

3

 

Expected return on plan assets

 

 

(5)

 

 

(5)

 

 

(2)

 

 

(2)

 

Net periodic benefit cost (a)

 

$

 —

 

$

(1)

 

$

2

 

$

2

 

 

The Company currently anticipates that it will make approximately $4 million in cash contributions to its pension plans in 2019, consisting of $3 million to its non-U.S. pension plans and $1 million to its U.S. pension plans. For the three months ended March 31, 2019, cash contributions of approximately $1 million were made to the non-U.S. plans and less than $1 million to the U.S. plans.

 

The following table sets forth the components of net postretirement benefit cost for the periods presented:

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 

 

(in millions)

    

2019

    

2018

    

Service cost

 

$

 

$

 —

 

Interest cost

 

 

 1

 

 

 1

 

Amortization of prior service credit

 

 

(1)

 

 

(1)

 

Net periodic benefit cost (a)

 

$

 —

 

$

 —

 


(a)

The service cost component of net periodic benefit cost is presented within either cost of sales or operating expenses on the Condensed Consolidated Statements of Income. The interest cost, expected return on plan assets, amortization of actuarial loss, amortization of prior service credit and settlement loss components of net periodic benefit cost are presented as other, non-operating income on the Condensed Consolidated Statements of Income.