Quarterly report pursuant to Section 13 or 15(d)

Pension and Other Postretirement Benefit Plans

v2.4.0.6
Pension and Other Postretirement Benefit Plans
 9 Months Ended
Sep. 28, 2012
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 during the three and nine months ended September 28, 2012, and September 30, 2011, respectively (in millions):
 
Pension Benefits  
 
Other Benefits  
 
Three Months Ended
 
September 28,
2012

September 30,
2011

 
September 28,
2012

September 30,
2011

 
 
As Adjusted

 
 
 
Service cost
$
88

$
62

 
$
8

$
8

Interest cost
97

97

 
11

11

Expected return on plan assets
(143
)
(127
)
 
(2
)
(2
)
Amortization of prior service cost (credit)
(1
)
2

 
(13
)
(15
)
Amortization of net actuarial loss
34

20

 
2

—

Net periodic benefit cost (credit)
75

54

 
6

2

Special termination benefits
—

—

 
—

—

Total cost (credit) recognized in statements of income
$
75

$
54

 
$
6

$
2


 
Pension Benefits  
 
Other Benefits  
 
Nine Months Ended
 
September 28,
2012

September 30,
2011

 
September 28,
2012

September 30,
2011

 
 
As Adjusted

 
 
 
Service cost
$
224

$
186

 
$
25

$
24

Interest cost
292

292

 
33

34

Expected return on plan assets
(431
)
(381
)
 
(6
)
(6
)
Amortization of prior service cost (credit)
(2
)
5

 
(39
)
(46
)
Amortization of net actuarial loss
102

60

 
5

1

Net periodic benefit cost (credit)
185

162

 
18

7

Special termination benefits1
—

4

 
—

2

Total cost (credit) recognized in statements of income
$
185

$
166

 
$
18

$
9

1 
The special termination benefits primarily relate to the Company's productivity, integration and restructuring initiatives. Refer to Note 11 for additional information related to these initiatives.
Effective January 1, 2012, the Company elected to change our accounting methodology for determining the market-related value of assets for our U.S. qualified defined benefit pension plans. The Company's change in accounting methodology has been applied retrospectively, and we have adjusted all applicable prior period financial information presented herein as required. Refer to Note 1 for further information related to this change and the impact it had on our condensed consolidated financial statements.
We contributed $992 million to our pension plans during the nine months ended September 28, 2012, which primarily consisted of $900 million to our U.S. pension plans and $70 million to certain European pension plans whose assets are managed through one of our captive insurance companies. We anticipate making additional contributions of approximately $9 million to our pension plans during the remainder of 2012. The Company contributed $874 million to our pension plans during the nine months ended September 30, 2011.