v3.26.1
Benefit Plans:
 6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Benefit Plans: Benefit Plans:
Pension coverage for employees of PMI’s subsidiaries is provided, to the extent deemed appropriate, through separate plans, many of which are governed by local statutory requirements. In addition, PMI provides health care and other benefits to certain U.S. retired employees and certain non-U.S. retired employees. In general, health care benefits for non-U.S. retired employees are covered through local government plans.
Pension and other employee benefit (income) costs per the condensed consolidated statements of earnings consisted of the following:
 For the Six Months Ended June 30,For the Three Months Ended June 30,
(in millions)2026202520262025
Net pension costs (income)$(81)$(42)$(40)$(22)
Net postemployment costs63 58 31 29 
Net postretirement costs8 7 4 4 
Total pension and other employee benefit (income) costs$(10)$23 $(5)$11 

Pension Plans

Components of Net Periodic Benefit Cost

Net periodic pension cost consisted of the following:
 
Pension (1)
 For the Six Months Ended June 30,For the Three Months Ended June 30,
(in millions)2026202520262025
Service cost$111 $116 $55 $59 
Interest cost118 102 59 52 
Expected return on plan assets(244)(210)(122)(108)
Amortization:
Net loss46 67 23 34 
Prior service cost (credit)(1)(1)— — 
Net periodic pension cost$30 $74 $15 $37 
(1) Primarily non-U.S. based defined benefit retirement plans.

All of the amounts in the table above, other than service cost, are recognized in pension and other employee benefit costs in the condensed consolidated statement of earnings.

Employer Contributions

PMI makes, and plans to make, contributions, to the extent that they are tax deductible and meet specific funding requirements of its funded pension plans. Employer contributions of $67 million were made to the pension plans during the six months ended June 30, 2026. Currently, PMI anticipates making additional contributions during the remainder of 2026 of approximately $79 million to its pension plans, based on current tax and benefit laws. However, this estimate is subject to change as a result of changes in tax and other benefit laws, as well as asset performance significantly above or below the assumed long-term rate of return on pension assets, or changes in interest and currency rates.