Anticipated additional employer contributions

[Table of](#i56e1b64ac11b4f908f713ce45f591ccd_10) [Contents](#i56e1b64ac11b4f908f713ce45f591ccd_10)Net Investment HedgingThe pre-tax effects of our net investment hedges on accumulated other comprehensive losses and our condensed consolidated statements of earnings (losses) were as follows:

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
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|  |  | (Gain) Loss Recognized in Accumulated Other Comprehensive Losses |  | (Gain) Loss Recognized in Net Earnings (Losses) |  | (Gain) Loss Recognized in Accumulated Other Comprehensive Losses |  |  |
|  |  | For the Nine Months Ended September 30, |  | For the Three Months Ended September 30, |
| (in millions) |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  |  |  |  |
| Foreign currency contracts |  | $ | —  |  |  | $ | (16) |  |  | $ | —  |  |  | $ | (7) |  |  | $ | —  |  |  | $ | —  |  |  |  |  |  |
| Foreign currency denominated debt |  | (664) |  |  | (270) |  |  | —  |  |  | —  |  |  | (289) |  |  | (118) |  |  |  |  |  |
| Total |  | $ | (664) |  |  | $ | (286) |  |  | $ | —  |  |  | $ | (7) |  |  | $ | (289) |  |  | $ | (118) |  |  |  |  |  |

We recognized changes in the fair value of the foreign currency contracts and in the carrying value of the foreign currency denominated debt due to changes in the Euro to U.S. dollar exchange rate in accumulated other comprehensive losses related to ABI. We recognized gains on the foreign currency contracts arising from components excluded from effectiveness testing in interest and other debt expense, net in our condensed consolidated statements of earnings (losses) based on an amortization approach.  
Note 5. Benefit PlansComponents of Net Periodic Benefit (Income) CostNet periodic benefit (income) cost consisted of the following:

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Pension |  | Postretirement |  | Pension |  | Postretirement |
|  | For the Nine Months Ended September 30, |  | For the Three Months Ended September 30, |
|  (in millions) | 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021 |
| Service cost | $ | 48  |  |  | $ | 51  |  |  | $ | 17  |  |  | $ | 15  |  |  | $ | 16  |  |  | $ | 17  |  |  | $ | 7  |  |  | $ | 5  |  |
| Interest cost | 155  |  |  | 139  |  |  | 31  |  |  | 29  |  |  | 51  |  |  | 46  |  |  | 11  |  |  | 8  |  |
| Expected return on plan assets | (370) |  |  | (393) |  |  | (10) |  |  | (10) |  |  | (123) |  |  | (131) |  |  | (4) |  |  | (2) |  |
| Amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net loss | 72  |  |  | 99  |  |  | 14  |  |  | 16  |  |  | 24  |  |  | 33  |  |  | 6  |  |  | 2  |  |
| Prior service cost (credit) | 5  |  |  | 3  |  |  | (34) |  |  | (35) |  |  | 2  |  |  | 1  |  |  | (11) |  |  | (20) |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net periodic benefit (income) cost | $ | (90) |  |  | $ | (101) |  |  | $ | 18  |  |  | $ | 15  |  |  | $ | (30) |  |  | $ | (34) |  |  | $ | 9  |  |  | $ | (7) |  |

Employer ContributionsWe make contributions to our pension plans to the extent that the contributions are tax deductible and pays benefits that relate to plans for salaried employees that cannot be funded under Internal Revenue Service regulations. We made employer contributions of $11 million to our pension plans and did not make any contributions to our postretirement plans during the nine months ended September 30, 2022. Currently, we anticipate making additional employer contributions of approximately $10 million to our pension plans and no additional contributions to our postretirement plans in 2022. However, the foregoing estimates of 2022 contributions to our pension and postretirement plans are subject to change as a result of changes in tax and other benefit laws, changes in interest rates, as well as asset performance significantly above or below the assumed long-term rate of return for each respective plan.Plan amendments to our postretirement plans for the year ended December 31, 2021 included several plan changes announced in the second quarter of 2021 to our salaried retiree healthcare plans, primarily changing post-age 65 coverage to a private medicare marketplace. These amendments triggered a plan remeasurement in the second quarter of 2021, resulting in a reduction of $432 million (including discount rate impact and other changes) to our postretirement obligation in the second quarter of 2021 and a corresponding reduction to accumulated other comprehensive losses.  
18
