Quarterly report pursuant to Section 13 or 15(d)

PENSION AND OTHER POSTRETIREMENT BENEFITS

v3.23.2
PENSION AND OTHER POSTRETIREMENT BENEFITS
 6 Months Ended
Jun. 30, 2023
Retirement Benefits [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFITS
NOTE 3. PENSIONS AND OTHER POSTRETIREMENT BENEFITS
We sponsor funded and unfunded domestic and foreign defined benefit pension and other postretirement benefit (OPEB) plans. Contributions to these plans were as follows:
Three months ended Six months ended
  June 30, June 30,
In millions 2023 2022 2023 2022
Defined benefit pension contributions $ 6  $ 6  $ 94  $ 39 
OPEB payments, net 5  6  9  16 
Defined contribution pension plans 30  20  73  56 
We anticipate making additional defined benefit pension contributions during the remainder of 2023 of $20 million for our U.S. and U.K. qualified and non-qualified pension plans. These contributions may be made from trusts or company funds either to increase pension assets or to make direct benefit payments to plan participants. We expect our 2023 annual net periodic pension cost to be near zero.
The components of net periodic pension and OPEB expense (income) under our plans were as follows:
  Pension    
  U.S. Plans U.K. Plans OPEB
  Three months ended June 30,
In millions 2023 2022 2023 2022 2023 2022
Service cost $ 29  $ 34  $ 4  $ 8  $ —  $ — 
Interest cost 42  22  18  9  2  1 
Expected return on plan assets (69) (52) (27) (20) —  — 
Amortization of prior service cost 1  —  —  —  —  — 
Recognized net actuarial loss 2  6  —  —  —  — 
Net periodic benefit expense (income) $ 5  $ 10  $ (5) $ (3) $ 2  $ 1 
  Pension
  U.S. Plans U.K. Plans OPEB
  Six months ended June 30,
In millions 2023 2022 2023 2022 2023 2022
Service cost $ 58  $ 68  $ 8  $ 16  $ —  $ — 
Interest cost 84  44  35  18  4  2 
Expected return on plan assets (138) (104) (52) (40) —  — 
Amortization of prior service cost 1  —  —  —  —  — 
Recognized net actuarial loss (gain) 4  12  —  1  (1) — 
Net periodic benefit expense (income) $ 9  $ 20  $ (9) $ (5) $ 3  $ 2