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.
|