DOW INC
For the period ended Sep 30, 2024. Filed Oct 25, 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.
Sep 30, 2024 · Filed Oct 25, 2024
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Pension and Other Postretirement Benefit Plans
NOTE 17 –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 | Nine Months Ended | ||
|---|---|---|---|---|
| In millions | Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2024 | Sep 30, 2023 |
| Defined Benefit Pension Plans | ||||
| Service cost | $14 | $71 | $42 | $212 |
| Interest cost | 252 | 280 | 754 | 838 |
| Expected return on plan assets | (345) | (391) | (1,034) | (1,170) |
| Amortization of prior service credit | (3) | (7) | (10) | (20) |
| Amortization of net loss | 34 | 24 | 105 | 71 |
| Net periodic benefit credit | $(48) | $(23) | $(143) | $(69) |
| Other Postretirement Benefit Plans | ||||
| Service cost | $1 | $1 | $3 | $3 |
| Interest cost | 11 | 11 | 33 | 34 |
| Amortization of net gain | (10) | (14) | (31) | (43) |
| Net periodic benefit cost (credit) | $2 | $(2) | $5 | $(6) |
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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