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Quarterly report pursuant to Section 13 or 15(d)

PENSIONS AND OTHER POSTRETIREMENT BENEFITS

v3.21.1
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
 3 Months Ended
Mar. 31, 2021
Postemployment Benefits [Abstract] Ìý
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
We offer defined benefit pension plans, defined contribution pension plans and OPEB plans to a significant portion of our employees and retirees. Benefits are also provided through multiemployer plans for certain union members.
The following are the components of defined benefit pension and OPEB costs (credits):
Defined Benefit Pension Costs (Credits)
(In Millions)
Three Months Ended
March 31,
2021 2020
Service cost $ 14Ìý $ 5Ìý
Interest cost 26Ìý 8Ìý
Expected return on plan assets (90) (18)
Amortization:
Net actuarial loss 8Ìý 7Ìý
Net periodic benefit cost (credit) $ (42) $ 2Ìý
OPEB Costs (Credits)
(In Millions)
Three Months Ended
March 31,
2021 2020
Service cost $ 13Ìý $ 1Ìý
Interest cost 18Ìý 2Ìý
Expected return on plan assets (10) (5)
Amortization:
Prior service credits —Ìý (1)
Net actuarial loss 1Ìý 1Ìý
Net periodic benefit cost (credit) $ 22Ìý $ (2)
Based on funding requirements, we made defined benefit pension contributions of $146 million and $4 million for the three months ended MarchÌý31, 2021 and 2020, respectively. As a result of the CARES Act enacted on March 27, 2020, we deferred $118 million of 2020 pension contributions, which were paid on January 4, 2021. Based on funding requirements, no contributions for our voluntary employee benefit association trust plans were required or made for the three months ended MarchÌý31, 2021 and 2020.