DuPont de Nemours Inc
For the period ended Mar 31, 2024. Filed May 1, 2024.
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Mar 31, 2024 · Filed May 1, 2024
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Pension Plans and Other Post-Employment Benefits
NOTE 17 -PENSION PLANS AND OTHER POST-EMPLOYMENT BENEFITS
A summary of the Company's pension plans and other post-employment benefits can be found in Note 19 to the Consolidated Financial Statements included in the Company’s 2023 Annual Report.
The following sets forth the components of the Company's net periodic benefit costs (credits) for defined benefit pension plans:
| Net Periodic Benefit Costs for All Significant Plans | Three Months Ended March 31, | |
|---|---|---|
| In millions | 2024 | 2023 |
| Service cost 1 | $9 | $9 |
| Interest cost 2 | 20 | 24 |
| Expected return on plan assets 3 | (26) | (23) |
| Amortization of prior service credit 4 | (1) | (1) |
| Curtailment/settlement 5 | — | (1) |
| Net periodic benefit costs - Total | $2 | $8 |
| Less: Net periodic benefit credits - Discontinued operations | — | (2) |
| Net periodic benefit costs - Continuing operations | $2 | $10 |
The service cost from continuing operations was $8 million for the three months ended March 31, 2023 for significant plans.
The interest cost from continuing operations was $23 million for the three months ended March 31, 2023 for significant plans.
The expected return on plan assets from continuing operations was $19 million for the three months ended March 31, 2023 for significant plans.
The amortization of prior service credit from continuing operations was $1 million for the three months ended March 31, 2023 for significant plans.
The curtailment and settlement gain from continuing operations was $1 million for the three months ended March 31, 2023 for significant plans.
The continuing operations portion of the net periodic benefit costs, other than the service cost component, is included in "Sundry income (expense) - net" in the interim Consolidated Statements of Operations.
DuPont expects to make additional contributions in the aggregate of approximately $44 million by year-end 2024.
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