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Net periodic benefit cost or income for our pension and other postretirement benefit plans consisted of the following (in millions):
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Pension Plans |
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Other Postretirement
Benefit Plans |
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Three Months Ended |
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September 27,
2024 |
September 29,
2023 |
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September 27,
2024 |
September 29,
2023 |
| Service cost |
$ |
26
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$ |
24 |
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$ |
1
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$ |
1 |
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| Interest cost |
77
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|
80 |
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3
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6 |
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Expected return on plan assets1
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(118) |
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(119) |
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(1) |
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(3) |
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| Amortization of prior service cost (credit) |
—
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— |
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(1) |
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— |
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| Amortization of net actuarial loss (gain) |
26
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24 |
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(1) |
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(1) |
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| Settlement loss (gain) |
—
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— |
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(19) |
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— |
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| Net periodic benefit cost (income) |
$ |
11
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$ |
9 |
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$ |
(18) |
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$ |
3 |
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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.
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Pension Plans |
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Other Postretirement
Benefit Plans |
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Nine Months Ended |
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September 27,
2024 |
September 29,
2023 |
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September 27,
2024 |
September 29,
2023 |
| Service cost |
$ |
79
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$ |
71 |
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$ |
3
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$ |
3 |
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| Interest cost |
231
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|
242 |
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|
12
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|
20 |
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Expected return on plan assets1
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(353) |
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(357) |
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(5) |
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(10) |
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| Amortization of prior service cost (credit) |
1
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1 |
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(3) |
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(2) |
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| Amortization of net actuarial loss (gain) |
77
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|
72 |
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(3) |
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(4) |
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| Settlement loss (gain) |
—
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— |
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(19) |
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— |
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| Net periodic benefit cost (income) |
$ |
35
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$ |
29 |
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$ |
(15) |
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$ |
7 |
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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.
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