Quarterly report pursuant to Section 13 or 15(d)

Pension and Other Postretirement Benefit Plans

v3.20.1
Pension and Other Postretirement Benefit Plans
 3 Months Ended
Mar. 27, 2020
Pension and Other Postretirement Benefit Plans  
Pension and Other Postretirement Benefit Plans PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
Net periodic benefit cost (income) for our pension and other postretirement benefit plans consisted of the following (in millions):
 
Pension Benefit Plans
 
Other Postretirement
Benefit Plans  
 
Three Months Ended
 
March 27,
2020

March 29,
2019

 
March 27,
2020

March 29,
2019

Service cost
$
28

$
26

 
$
3

$
2

Interest cost
59

72

 
6

7

Expected return on plan assets1
(147
)
(138
)
 
(4
)
(3
)
Amortization of prior service credit
—

(1
)
 
(1
)
(1
)
Amortization of net actuarial loss
43

38

 
1

1

Net periodic benefit cost (income)
$
(17
)
$
(3
)
 
$
5

$
6

1 The weighted-average expected long-term rates of return on plan assets used in computing 2020 net periodic benefit cost (income) are 7.50 percent for pension benefit plans and 4.50 percent for other postretirement benefit plans.
All of the amounts in the table above, other than service cost, were recorded in the line item other income (loss) — net in our condensed consolidated statements of income. During the three months ended March 27, 2020, the Company contributed $7 million to our pension trusts, and we anticipate making additional contributions of approximately $20 million during the remainder of 2020. The Company contributed $6 million to our pension trusts during the three months ended March 29, 2019.