BMS acquired Celgene on November 20, 2019. Certain of Celgene’s international subsidiaries have both funded and unfunded defined benefit pension plans. We have recorded the fair value of the Celgene plans using assumptions and accounting policies consistent with those disclosed by BMS. Upon acquisition, the excess of projected benefit obligation over the plan assets was recognized as a liability and previously existing deferred actuarial gains and losses and unrecognized service costs or benefits were eliminated. The net periodic benefit cost/(credit) of defined benefit pension plans includes: Pension settlement charges were recognized after determining the annual lump sum payments will exceed the annual interest and service costs for certain pension plans, including the primary U.S. pension plan in 2019 and 2018. Changes in defined benefit pension plan obligations, assets, funded status and amounts recognized in the consolidated balance sheets were as follows: 107 Year Ended December 31, Dollars in Millions 2020 2019 Benefit obligations at beginning of year $ 2,940  $ 5,966  Service cost—benefits earned during the year 48  26  Interest cost 42  115  Settlements and Curtailments (145) (4,105) Actuarial losses 233  777  Benefits paid (58) (109) Acquisition/Divestiture —  262  Foreign currency and other 182  8  Benefit obligations at end of year $ 3,242  $ 2,940  Fair value of plan assets at beginning of year $ 2,536  $ 6,129  Actual return on plan assets 196  804  Employer contributions 96  63  Settlements (126) (4,104) Benefits paid (58) (109) Asset transfer —  (424) Acquisition/Divestiture —  164  Foreign currency and other 163  13  Fair value of plan assets at end of year $ 2,807  $ 2,536  Unfunded status $ (435) $ (404) Assets/(Liabilities) recognized: Other non-current assets $ 208  $ 192  Other current liabilities (26) (27) Other non-current liabilities (617) (569) Funded status $ (435) $ (404) Recognized in Accumulated other comprehensive loss: Net actuarial losses $ 1,255  $ 1,192  Prior service credit (22) (26) Total $ 1,233  $ 1,166  Year Ended December 31, Dollars in Millions 2020 2019 2018 Service cost — benefits earned during the year $ 48  $ 26  $ 26  Interest cost on projected benefit obligation 42  115  193  Expected return on plan assets (98) (200) (386) Amortization of prior service credits (4) (4) (4) Amortization of net actuarial loss 44  59  74  Settlements and Curtailments 10  1,640  121  Net periodic pension benefit cost/(credit) $ 42  $ 1,636  $ 24 