Quarterly report pursuant to Section 13 or 15(d)

Pension and Other Postretirement Benefit Plans

v3.20.2
Pension and Other Postretirement Benefit Plans
 6 Months Ended
Jun. 26, 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
June 26,
2020		 June 28,
2019		 June 26,
2020		 June 28,
2019
Service cost $ 28    $ 26    $ 3    $ 3   
Interest cost 59    73    5    6   
Expected return on plan assets1
(145)   (138)   (4)   (4)  
Amortization of prior service credit —    (1)   —    —   
Amortization of net actuarial loss 42    38    1    —   
Net periodic benefit cost (income) $ (16)   $ (2)   $ 5    $ 5   
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.
Pension Benefit Plans Other Postretirement
Benefit Plans  
Six Months Ended
June 26,
2020		 June 28,
2019		 June 26,
2020		 June 28,
2019
Service cost $ 56    $ 52    $ 6    $ 5   
Interest cost 118    145    11    13   
Expected return on plan assets1
(292)   (276)   (8)   (7)  
Amortization of prior service credit —    (2)   (1)   (1)  
Amortization of net actuarial loss 85    76    2    1   
Net periodic benefit cost (income) $ (33)   $ (5)   $ 10    $ 11   
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 tables above, other than service cost, were recorded in the line item other income (loss) — net in our condensed consolidated statements of income. During the six months ended June 26, 2020, the Company contributed $8 million to our pension trusts, and we anticipate making additional contributions of approximately $18 million during the remainder of 2020. The Company contributed $22 million to our pension trusts during the six months ended June 28, 2019.