DOW INC
For the period ended Mar 31, 2024. Filed Apr 26, 2024.
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Mar 31, 2024 · Filed Apr 26, 2024
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Pension and Other Postretirement Benefit Plans
NOTE 15 –PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
A summary of the Company's pension and other postretirement benefit plans can be found in Note 18 to the Consolidated Financial Statements included in the 2023 10-K. The following table provides the components of the Company's net periodic benefit cost (credit) for all significant plans:
| Net Periodic Benefit Cost (Credit) for All Significant Plans | Three Months Ended | |
|---|---|---|
| In millions | Mar 31, 2024 | Mar 31, 2023 |
| Defined Benefit Pension Plans | ||
| Service cost | $14 | $70 |
| Interest cost | 252 | 279 |
| Expected return on plan assets | (346) | (389) |
| Amortization of prior service credit | (3) | (7) |
| Amortization of net loss | 35 | 24 |
| Net periodic benefit credit | $(48) | $(23) |
| Other Postretirement Benefit Plans | ||
| Service cost | $1 | $1 |
| Interest cost | 11 | 11 |
| Amortization of net gain | (10) | (14) |
| Net periodic benefit cost (credit) | $2 | $(2) |
Net periodic benefit cost (credit), other than the service cost component, is included in "Sundry income (expense) - net" in the consolidated statements of income.
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