v3.19.1
Retirement-Related Benefits (Tables)
 3 Months Ended
Mar. 31, 2019
Retirement-Related Benefits  
Pre-tax cost for all retirement-related plans

 

 

 

 

 

 

 

Yr. to Yr.

 

(Dollars in millions)

 

 

 

 

 

Percent

 

For the three months ended March 31:

 

2019

 

2018

 

Change

 

Retirement-related plans — cost

 

 

 

 

 

 

 

Defined benefit and contribution pension plans — cost

 

$
437

 

$
738

 
(40.8

)%

Nonpension postretirement plans — cost

 
54

 
51

 
6.4

 

 

 

 

 

 

 

 

 

Total

 

$
491

 

$
788

 
(37.7

)%

 

 

 

 

 

 

 

 

 

 

 

Components of the cost/(income) for the company's pension plans

 

(Dollars in millions)

 

U.S. Plans

 

Non-U.S. Plans

 

For the three months ended March 31:

 

2019

 

2018

 

2019

 

2018

 

Service cost

 

$

—

 

$

—

 

$
93

 

$
104

 

Interest cost (1)

 
472

 
430

 
208

 
215

 

Expected return on plan assets (1)

 
(650

)
(676

)
(399

)
(348

)

Amortization of prior service costs/(credits) (1)

 
4

 
4

 
(6

)
(21

)

Recognized actuarial losses (1)

 
140

 
384

 
314

 
359

 

Curtailments and settlements (1)

 

—

 

—

 
1

 
0

 

Multi-employer plans

 

—

 

—

 
9

 
10

 

Other costs/(credits) (1)

 

—

 

—

 
5

 
7

 

 

 

 

 

 

 

 

 

 

 

Total net periodic pension (income)/cost of defined benefit plans

 

$
(34

)

$
143

 

$
223

 

$
327

 

Cost of defined contribution plans

 
149

 
160

 
98

 
108

 

 

 

 

 

 

 

 

 

 

 

Total defined benefit and contribution pension plans cost recognized in the Consolidated Statement of Earnings

 

$
115

 

$
303

 

$
322

 

$
434

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)These components of net periodic pension cost are included in other (income) and expense in the Consolidated Statement of Earnings.

 

 

 

Components of the cost/(income) for the company's nonpension postretirement plans

 

(Dollars in millions)

 

U.S. Plan

 

Non-U.S. Plans

 

For the three months ended March 31:

 

2019

 

2018

 

2019

 

2018

 

Service cost

 

$
3

 

$
3

 

$
1

 

$
1

 

Interest cost (1)

 
36

 
33

 
12

 
13

 

Expected return on plan assets (1)

 

—

 

—

 
(1

)
(1

)

Amortization of prior service costs/(credits) (1)

 
(1

)
(2

)
0

 
0

 

Recognized actuarial losses (1)

 
1

 
2

 
3

 
1

 

Curtailments and settlements (1)

 

—

 

—

 
0

 
0

 

 

 

 

 

 

 

 

 

 

 

Total nonpension postretirement plans cost recognized in Consolidated Statement of Earnings

 

$
39

 

$
37

 

$
15

 

$
14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

These components of net periodic pension cost are included in other (income) and expense in the Consolidated Statement of Earnings.