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v3.25.2

Pension, Savings and Other Postretirement Benefit Plans | 6 Months Ended
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Jun. 30, 2025
Retirement Benefits [Abstract] |
Pension, Savings and Other Postretirement Benefits Plans | PENSION, SAVINGS AND OTHER POSTRETIREMENT BENEFIT PLANS We provide employees with defined benefit pension or defined contribution savings plans. Defined benefit pension cost follows:
| U.S. |  | U.S. |
| Three Months Ended June 30, |  | Six Months Ended June 30, |
(In millions) | 2025 |  | 2024 |  | 2025 |  | 2024 |
Service cost | $ | 2 |  |  | $ | 2 |  |  | $ | 3 |  |  | $ | 4 |  |
Interest cost | 40 |  |  | 43 |  |  | 81 |  |  | 87 |  |
Expected return on plan assets | (50) |  |  | (52) |  |  | (101) |  |  | (104) |  |
Amortization of net losses | 23 |  |  | 24 |  |  | 47 |  |  | 48 |  |
Net periodic pension cost | $ | 15 |  |  | $ | 17 |  |  | $ | 30 |  |  | $ | 35 |  |
Net curtailments/settlements/termination benefits | — |  |  | — |  |  | 8 |  |  | (5) |  |
Total defined benefit pension cost | $ | 15 |  |  | $ | 17 |  |  | $ | 38 |  |  | $ | 30 |  |
| Non-U.S. |  | Non-U.S. |
| Three Months Ended June 30, |  | Six Months Ended June 30, |
(In millions) | 2025 |  | 2024 |  | 2025 |  | 2024 |
Service cost | $ | 4 |  |  | $ | 4 |  |  | $ | 8 |  |  | $ | 9 |  |
Interest cost | 26 |  |  | 26 |  |  | 50 |  |  | 53 |  |
Expected return on plan assets | (24) |  |  | (22) |  |  | (46) |  |  | (45) |  |
Amortization of prior service cost | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |
Amortization of net losses | 5 |  |  | 5 |  |  | 10 |  |  | 10 |  |
Net periodic pension cost | $ | 12 |  |  | $ | 14 |  |  | $ | 23 |  |  | $ | 28 |  |
Net curtailments/settlements/termination benefits | — |  |  | — |  |  | 1 |  |  | — |  |
Total defined benefit pension cost | $ | 12 |  |  | $ | 14 |  |  | $ | 24 |  |  | $ | 28 |  |
Service cost is recorded in CGS or SAG. Other components of net periodic pension cost are recorded in Other (Income) Expense. Net curtailments, settlements and termination benefits, if any, are recorded in Other (Income) Expense or Rationalizations if related to a rationalization plan. In the first six months of 2025, a pension settlement charge of $4 million was recorded in Other (Income) Expense. The settlement charge resulted from total lump sum payments exceeding annual service and interest cost of the applicable plan. In addition, pension termination benefits charges of $4 million and $1 million were recorded related to the exit of employees under an approved rationalization plan and the sale of the OTR tire business, respectively. In the first six months of 2024, a pension settlement credit of $5 million was recorded in Other (Income) Expense. The settlement credit resulted from a premium refund related to the purchase of a group annuity contract for the Cooper Tire U.S. salaried defined benefit pension plan in 2023. We also provide certain U.S. employees and employees at certain non-U.S. subsidiaries with health care benefits or life insurance benefits upon retirement. There was no net other postretirement benefits expense for three and six months ended June 30, 2025. Other postretirement benefits expense for the three and six months ended June 30, 2024 was $2 million and $4 million, respectively. We expect to contribute $25 million to $50 million to our funded non-U.S. pension plans in 2025. For the three and six months ended June 30, 2025, we contributed $7 million and $13 million, respectively, to our non-U.S. plans. The expense recognized for our contributions to defined contribution savings plans for the three months ended June 30, 2025 and 2024 was $30 million and $33 million, respectively, and for the six months ended June 30, 2025 and 2024 was $62 million and $70 million, respectively.

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