Quarterly report pursuant to Section 13 or 15(d)

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Tables)

v3.24.2
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Tables)
 6 Months Ended
Jun. 28, 2024
Retirement Benefits [Abstract]  
Schedule of Net Benefit Costs
Net periodic benefit cost or income for our pension and other postretirement benefit plans consisted of the following (in millions):
Pension Plans Other Postretirement
Benefit Plans
Three Months Ended
June 28,
2024		 June 30,
2023		 June 28,
2024		 June 30,
2023
Service cost $ 26  $ 23  $ 1  $ 1 
Interest cost 77  81  5  7 
Expected return on plan assets1
(117) (119) (2) (3)
Amortization of prior service cost (credit) 1  1  (1) (1)
Amortization of net actuarial loss (gain) 25  24  (1) (2)
Net periodic benefit cost (income) $ 12  $ 10  $ 2  $ 2 
1The weighted-average expected long-term rates of return on plan assets used in computing 2024 net periodic benefit cost (income) were 7.00% for pension plans and 4.50% for other postretirement benefit plans.
Pension Plans Other Postretirement
Benefit Plans
Six Months Ended
June 28,
2024		 June 30,
2023		 June 28,
2024		 June 30,
2023
Service cost $ 53  $ 47  $ 2  $ 2 
Interest cost 154  162  9  14 
Expected return on plan assets1
(235) (238) (4) (7)
Amortization of prior service cost (credit) 1  1  (2) (2)
Amortization of net actuarial loss (gain) 51  48  (2) (3)
Net periodic benefit cost (income) $ 24  $ 20  $ 3  $ 4 
1The weighted-average expected long-term rates of return on plan assets used in computing 2024 net periodic benefit cost (income) were 7.00% for pension plans and 4.50% for other postretirement benefit plans.