Quarterly report pursuant to Section 13 or 15(d)

Pension and Other Postretirement Benefit Plans

v3.5.0.2
Pension and Other Postretirement Benefit Plans
 6 Months Ended
Jul. 01, 2016
Pension and Other Postretirement Benefit Plans  
Pension and Other Postretirement Benefit Plans
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
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 1,
2016

July 3,
2015

 
July 1,
2016

July 3,
2015

Service cost
$
60

$
66

 
$
6

$
7

Interest cost
80

95

 
7

10

Expected return on plan assets
(165
)
(176
)
 
(2
)
(3
)
Amortization of prior service cost (credit)
(1
)
—

 
(4
)
(4
)
Amortization of net actuarial loss
46

50

 
1

2

Net periodic benefit cost
$
20

$
35

 
$
8

$
12

Special termination benefits1
5

9

 
—

—

Total cost recognized in statements of income
$
25

$
44

 
$
8

$
12

 
Pension Benefits  
 
Other Benefits  
 
Six Months Ended
 
July 1,
2016

July 3,
2015

 
July 1,
2016

July 3,
2015

Service cost
$
119

$
133

 
$
11

$
14

Interest cost
160

190

 
15

19

Expected return on plan assets
(329
)
(353
)
 
(5
)
(6
)
Amortization of prior service cost (credit)
(1
)
—

 
(9
)
(9
)
Amortization of net actuarial loss
92

99

 
3

5

Net periodic benefit cost
$
41

$
69

 
$
15

$
23

Special termination benefits1
13

9

 
—

—

Total cost recognized in statements of income
$
54

$
78

 
$
15

$
23

1 The special termination benefits were primarily related to the Company's productivity, restructuring and integration initiatives. Refer to Note 11.
During the six months ended July 1, 2016, the Company contributed $502 million to our pension plans, and we anticipate making additional contributions of approximately $21 million during the remainder of 2016. The Company contributed $81 million to our pension plans during the six months ended July 3, 2015.