DuPont de Nemours Inc
For the period ended Jun 30, 2024. Filed Jul 31, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 31, 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 EndedJune 30, | Six Months Ended June 30, | ||
|---|---|---|---|---|
| In millions | 2024 | 2023 | 2024 | 2023 |
| Service cost 1 | $6 | $4 | $15 | $13 |
| Interest cost 2 | 22 | 25 | 42 | 49 |
| Expected return on plan assets 3 | (24) | (24) | (50) | (47) |
| Amortization of prior service credit 4 | — | — | (1) | (1) |
| Amortization of unrecognized net loss 5 | — | (1) | — | (1) |
| Curtailment/settlement 6 | (1) | (1) | (1) | (2) |
| Net periodic benefit costs - Total | $3 | $3 | $5 | $11 |
| Less: Net periodic benefit credits - Discontinued operations | — | (2) | — | (4) |
| Net periodic benefit costs - Continuing operations | $3 | $5 | $5 | $15 |
The service cost from continuing operations was $3 million and $11 million for the three and six months ended June 30, 2023, respectively, for significant plans.
The interest cost from continuing operations was $23 million and $46 million for the three and six months ended June 30, 2023, respectively, for significant plans.
The expected return on plan assets from continuing operations was $19 million and $38 million for the three and six months ended June 30, 2023, respectively, for significant plans.
The amortization of prior service credit from continuing operations was less than a million and $1 million for the three and six months ended June 30, 2023, respectively, for significant plans.
The amortization of unrecognized net gain for significant plans from continuing operations was $1 million for the three and six months ended June 30, 2023, respectively, for significant plans.
The curtailment and settlement gain from continuing operations was $1 million and $2 million for the three and six months ended June 30, 2023, respectively, 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 $29 million by year-end 2024.
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