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Postemployment Benefit Plans
3 Months Ended
Mar. 31, 2015
Postemployment Benefit Plans  
Postemployment Benefit Plans

 

Note 12—Postemployment Benefit Plans

 

Defined benefit pension plans and other postretirement employee benefit plans

 

Effective January 1, 2015, we froze benefits of our qualified defined benefit pension plan in the U.S., which covers substantially all U.S. employees, and one of our unfunded supplemental benefit plans.  Including these plans, we have several frozen defined benefit pension plans, both funded and unfunded, that cover certain current and former U.S. employees and certain former directors of our predecessors (the “U.S. Plans”).  We also have various defined benefit plans in the U.K., Norway, Nigeria, Egypt and Indonesia that cover certain current and former employees in those areas (the “Non-U.S. Plans”).  Additionally, we maintain several unfunded contributory and noncontributory other postretirement employee benefit plans covering substantially all of our U.S. employees (the “OPEB Plans”).

 

The components of net periodic benefit costs, before tax, and funding contributions for these plans were as follows (in millions):

 

 

 

Three months ended March 31, 2015

 

Three months ended March 31, 2014

 

 

 

U.S.
Plans

 

Non-U.S.
Plans

 

OPEB
Plans

 

Total

 

U.S.
Plans

 

Non-U.S.
Plans

 

OPEB
Plans

 

Total

 

Net periodic benefit costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

1

 

$

7

 

$

 

$

8

 

$

11

 

$

8

 

$

 

$

19

 

Interest cost

 

16

 

5

 

1

 

22

 

17

 

6

 

1

 

24

 

Expected return on plan assets

 

(22

)

(6

)

 

(28

)

(19

)

(7

)

 

(26

)

Actuarial losses, net

 

3

 

2

 

 

5

 

5

 

1

 

 

6

 

Net periodic benefit costs

 

$

(2

)

$

8

 

$

1

 

$

7

 

$

14

 

$

8

 

$

1

 

$

23

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Funding contributions

 

$

 

$

9

 

$

2

 

$

11

 

$

1

 

$

9

 

$

 

$

10