Quarterly report pursuant to Section 13 or 15(d)

Pension and Other Postretirement Benefit Plans (Tables)

v3.21.1
Pension and Other Postretirement Benefit Plans (Tables)
 3 Months Ended
Apr. 02, 2021
Pension and Other Postretirement Benefit Plans  
Periodic benefit cost, pension and other postretirement benefit plans total 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
April 2,
2021		 March 27,
2020		 April 2,
2021		 March 27,
2020
Service cost $ 24  $ 28  $ 2  $ 3 
Interest cost 44  59  4  6 
Expected return on plan assets1
(151) (147) (4) (4)
Amortization of prior service credit —  —  (1) (1)
Amortization of net actuarial loss 47  43  1  1 
Net periodic benefit cost (income) (36) (17) 2  5 
Settlement charges2
54  —  —  — 
Total cost (income) $ 18  $ (17) $ 2  $ 5 
1 The weighted-average expected long-term rates of return on plan assets used in computing 2021 net periodic benefit cost (income) were 7.25 percent for pension benefit plans and 4.25 percent for other postretirement benefit plans.
2 The settlement charges were related to the strategic realignment initiatives. Refer to Note 12.