Net periodic benefit cost for our pension and other postretirement benefit plans consisted of the following (in millions):
|
|
|
|
|
|
|
|
|
|
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|
|
|
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Pension Benefits
|
|
Other Benefits
|
|
Three Months Ended |
|
September 30,
2011 |
|
October 1,
2010 |
|
|
September 30,
2011 |
|
October 1,
2010 |
|
Service cost |
$ |
62 |
|
$ |
28 |
|
|
$ |
8 |
|
$ |
5 |
|
Interest cost |
97 |
|
54 |
|
|
11 |
|
7 |
|
Expected return on plan assets |
(125 |
) |
(62 |
) |
|
(2 |
) |
(2 |
) |
Amortization of prior service cost (credit) |
2 |
|
1 |
|
|
(15 |
) |
(16 |
) |
Amortization of net actuarial loss |
22 |
|
14 |
|
|
— |
|
1 |
|
Net periodic benefit cost (credit) |
58 |
|
35 |
|
|
2 |
|
(5 |
) |
Curtailment charge (credit) |
— |
|
— |
|
|
— |
|
— |
|
Special termination benefits |
— |
|
— |
|
|
— |
|
— |
|
Total cost (credit) recognized in statements of income |
$ |
58 |
|
$ |
35 |
|
|
$ |
2 |
|
$ |
(5 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pension Benefits
|
|
Other Benefits
|
|
Nine Months Ended |
|
September 30,
2011 |
|
October 1,
2010 |
|
|
September 30,
2011 |
|
October 1,
2010 |
|
Service cost |
$ |
186 |
|
$ |
85 |
|
|
$ |
24 |
|
$ |
16 |
|
Interest cost |
292 |
|
162 |
|
|
34 |
|
20 |
|
Expected return on plan assets |
(371 |
) |
(185 |
) |
|
(6 |
) |
(6 |
) |
Amortization of prior service cost (credit) |
5 |
|
3 |
|
|
(46 |
) |
(46 |
) |
Amortization of net actuarial loss |
64 |
|
43 |
|
|
1 |
|
2 |
|
Net periodic benefit cost (credit) |
176 |
|
108 |
|
|
7 |
|
(14 |
) |
Curtailment charge (credit) |
— |
|
(1 |
) |
|
— |
|
— |
|
Special termination benefits1
|
4 |
|
1 |
|
|
2 |
|
1 |
|
Total cost (credit) recognized in statements of income |
$ |
180 |
|
$ |
108 |
|
|
$ |
9 |
|
$ |
(13 |
) |
1 Primarily relate to the Company's productivity, integration and restructuring initiatives. Refer to Note 11 for additional information related to these initiatives.
|