Quarterly report pursuant to Section 13 or 15(d)

Pension and Other Postretirement Benefit Plans (Tables)

v3.10.0.1
Pension and Other Postretirement Benefit Plans (Tables)
9 Months Ended
Sep. 28, 2018
Pension and Other Postretirement Benefit Plans  
Periodic benefit cost, 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
 
September 28,
2018

September 29,
2017

 
September 28,
2018

September 29,
2017

Service cost
$
30

$
49

 
$
3

$
4

Interest cost
75

76

 
6

7

Expected return on plan assets1
(160
)
(164
)
 
(3
)
(3
)
Amortization of prior service credit
(1
)

 
(4
)
(4
)
Amortization of net actuarial loss
29

44

 
1

2

Net periodic benefit cost (income)
(27
)
5

 
3

6

Curtailment charges2
5

2

 


Settlement charges2
35

150

 


Special termination benefits2
8

15

 


Total cost recognized in condensed consolidated
   statements of income
$
21

$
172

 
$
3

$
6

1 The weighted-average expected long-term rates of return on plan assets used in computing 2018 net periodic benefit cost are 8.0 percent for pension benefit plans and 4.5 percent for other benefit plans.
2 
The curtailment charges, settlement charges and special termination benefits were primarily related to North America refranchising and the Company's productivity and reinvestment program. Refer to Note 2 and Note 12.
 
Pension Benefits  
 
Other Benefits  
 
Nine Months Ended
 
September 28,
2018

September 29,
2017

 
September 28,
2018

September 29,
2017

Service cost
$
93

$
149

 
$
8

$
13

Interest cost
221

232

 
18

22

Expected return on plan assets1
(490
)
(488
)
 
(10
)
(9
)
Amortization of prior service cost (credit)
3


 
(11
)
(13
)
Amortization of net actuarial loss
92

133

 
3

6

Net periodic benefit cost (income)
(81
)
26

 
8

19

Curtailment charges (credits)2
5

2

 

(42
)
Settlement charges2
121

150

 


Special termination benefits2
8

72

 


Total cost (income) recognized in condensed consolidated
   statements of income
$
53

$
250

 
$
8

$
(23
)

1 The weighted-average expected long-term rates of return on plan assets used in computing 2018 net periodic benefit cost are 8.0 percent for pension benefit plans and 4.5 percent for other benefit plans.
2 
The curtailment charges (credits), settlement charges and special termination benefits were primarily related to North America refranchising and the Company's productivity and reinvestment program. Refer to Note 2 and Note 12.