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C » Topics » Net (Benefit) Expense

This excerpt taken from the C 10-K filed Feb 28, 2005.

Net (Benefit) Expense

 
   Pension Plans
   Postretirement Benefit Plans(2)
  
 
   U.S. Plans(1)
   Plans Outside U.S.
   U.S. Plans
  
 
   2004
   2003
   2002
   2004
   2003
   2002
   2004
   2003
   2002
  
 
   In millions of dollars

  
Benefits earned during the year   $ 241   $ 208   $ 261   $ 147   $ 118   $ 116   $ 2   $ 3   $ 5  
Interest cost on benefit obligation     581     548     528     222     190     185     66     72     73  
Expected return on plan assets     (750 )   (700 )   (783 )   (251 )   (209 )   (188 )   (16 )   (18 )   (21 )
Amortization of unrecognized:                                                        
  Net transition obligation     —     —     —     3     5     5     —     —     —  
  Prior service cost     (25 )   (25 )   (29 )   —     —     —     (4 )   (4 )   (4 )
  Net actuarial loss (gain)     105     24     —     60     48     15     8     8     (1 )
Curtailment (gain) loss     —     —     —     4     6     —     —     —     —  
   
 
 
 
 
 
 
 
 
 
Net (benefit) expense   $ 152   $ 55   $ (23 ) $ 185   $ 158   $ 133   $ 56   $ 61   $ 52  
   
 
 
 
 
 
 
 
 
 
(1)
The U.S. plans exclude nonqualified pension plans, for which the net expense was $44 million in 2004, $46 million in 2003, and $47 million in 2002.

(2)
For plans outside the U.S., net postretirement benefit expense was $19 million in 2004, $36 million in 2003, and $53 million in 2002.

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