Net periodic benefit cost for our pension and other postretirement benefit plans consisted of the following (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pension Benefits |
|
Other Benefits |
|
Three Months Ended |
|
July 3,
2015 |
|
June 27,
2014 |
|
|
July 3,
2015 |
|
June 27,
2014 |
|
Service cost |
$ |
66 |
|
$ |
67 |
|
|
$ |
7 |
|
$ |
7 |
|
Interest cost |
95 |
|
102 |
|
|
10 |
|
10 |
|
Expected return on plan assets |
(176 |
) |
(180 |
) |
|
(3 |
) |
(3 |
) |
Amortization of prior service cost (credit) |
— |
|
— |
|
|
(4 |
) |
(4 |
) |
Amortization of net actuarial loss |
50 |
|
18 |
|
|
2 |
|
1 |
|
Net periodic benefit cost (credit) |
$ |
35 |
|
$ |
7 |
|
|
$ |
12 |
|
$ |
11 |
|
Special termination benefits1
|
9 |
|
— |
|
|
— |
|
— |
|
Settlement charge |
— |
|
2 |
|
|
— |
|
— |
|
Total cost (credit) recognized in statements of income |
$ |
44 |
|
$ |
9 |
|
|
$ |
12 |
|
$ |
11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pension Benefits |
|
Other Benefits |
|
Six Months Ended |
|
July 3,
2015 |
|
June 27,
2014 |
|
|
July 3,
2015 |
|
June 27,
2014 |
|
Service cost |
$ |
133 |
|
$ |
134 |
|
|
$ |
14 |
|
$ |
13 |
|
Interest cost |
190 |
|
203 |
|
|
19 |
|
21 |
|
Expected return on plan assets |
(353 |
) |
(358 |
) |
|
(6 |
) |
(6 |
) |
Amortization of prior service cost (credit) |
— |
|
(1 |
) |
|
(9 |
) |
(8 |
) |
Amortization of net actuarial loss |
99 |
|
36 |
|
|
5 |
|
2 |
|
Net periodic benefit cost (credit) |
$ |
69 |
|
$ |
14 |
|
|
$ |
23 |
|
$ |
22 |
|
Special termination benefits1
|
9 |
|
— |
|
|
— |
|
— |
|
Settlement charge |
— |
|
2 |
|
|
— |
|
— |
|
Total cost (credit) recognized in statements of income |
$ |
78 |
|
$ |
16 |
|
|
$ |
23 |
|
$ |
22 |
|
1 The special termination benefits were primarily related to the Company's productivity, restructuring and integration initiatives. Refer to Note 11 for additional information related to our productivity, restructuring and integration initiatives.
|