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Pension Benefit Plans

9 Months Ended

Sep. 30, 2019

Pension Benefit Plans

Pension Benefit Plans

7. Pension Benefit Plans

The components of the net periodic pension cost for the three months ended September 30, 2019 and 2018 are as follows:


		U.S.						Non-U.S.
		2019			2018			2019			2018
Service cost		$	3		$	4		$	3		$	4
Interest cost			15			15			7			7
Expected asset return			(22)			(25)			(11)			(13)
Amortization of actuarial loss			10			13			3			3
Net periodic pension cost		$	6		$	7		$	2		$	1

The components of the net periodic pension cost for the nine months ended September 30, 2019 and 2018 are as follows:


		U.S.						Non-U.S.
		2019			2018			2019			2018
Service cost		$	9		$	11		$	9		$	11
Interest cost			45			45			22			23
Expected asset return			(65)			(74)			(33)			(40)
Amortization of actuarial loss			30			39			7			10
Net periodic pension cost		$	19		$	21		$	5		$	4

In addition to the above, the Company recorded pension settlement charges in the United States of $11 million and $13 million for the three and nine months ended September 30, 2019, respectively. These charges were a result of restructuring actions taken for a severance program for salaried employees at the Company’s corporate and Americas headquarters.