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EMPLOYEE BENEFIT PLANS
9 Months Ended
Sep. 30, 2017
EMPLOYEE BENEFIT PLANS

NOTE 9. EMPLOYEE BENEFIT PLANS

Pension and Other Postretirement Benefit Plans – North America

The components of net periodic pension benefit for the Company’s North America pension plans are as follows:

 

     Third Quarter      Year-to-Date  
(In millions)    2017      2016      2017      2016  

Service cost

   $ 1      $ 2      $ 4      $ 5  

Interest cost

     10        11        30        34  

Expected return on plan assets

     (12      (14      (36      (41
  

 

 

    

 

 

    

 

 

    

 

 

 

Net periodic pension benefit

   $ (1    $ (1    $ (2    $ (2
  

 

 

    

 

 

    

 

 

    

 

 

 

Year-to-date 2017, $15 million of cash contributions were made to the North America pension plans, which included a $13 million voluntary accelerated contribution to one of the qualified plans to reduce the costs associated with the plan. The Company expects to make additional cash contributions of approximately $1 million to the North America pension plans during the remainder of 2017.

Pension Plan – United Kingdom

As part of the European Business sale, the Company retained the United Kingdom (“UK”) defined benefit pension plan. The components of net periodic pension benefit for the Company’s UK pension plan are as follows:

 

     Third Quarter      Year-to-Date  
(In millions)    2017      2016      2017      2016  

Service cost

   $ —        $ —        $ —        $ —    

Interest cost

     2        2        5        6  

Expected return on plan assets

     (3      (3      (9      (9
  

 

 

    

 

 

    

 

 

    

 

 

 

Net periodic pension benefit

   $ (1    $ (1    $ (4    $ (3
  

 

 

    

 

 

    

 

 

    

 

 

 

The UK pension plan is in a net asset position. Year-to-date 2017, cash contributions of $2 million were made to the UK pension plan.

Net periodic pension benefits for the North America and UK pension and other postretirement benefit plans are recorded in Selling, general and administrative expenses at the corporate level in the Condensed Consolidated Statements of Operations.