PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
Net periodic benefit cost for our pension and other postretirement benefit plans consisted of the following (in millions):
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Pension Benefits |
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Other Benefits |
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Three Months Ended |
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June 27,
2014 |
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June 28,
2013 |
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June 27,
2014 |
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June 28,
2013 |
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Service cost |
$ |
67 |
|
$ |
69 |
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|
$ |
7 |
|
$ |
9 |
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Interest cost |
102 |
|
95 |
|
|
10 |
|
10 |
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Expected return on plan assets |
(180 |
) |
(165 |
) |
|
(3 |
) |
(3 |
) |
Amortization of prior service cost (credit) |
— |
|
— |
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|
(4 |
) |
(2 |
) |
Amortization of net actuarial loss |
18 |
|
49 |
|
|
1 |
|
3 |
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Net periodic benefit cost (credit) |
$ |
7 |
|
$ |
48 |
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|
$ |
11 |
|
$ |
17 |
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Settlement charge |
2 |
|
— |
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|
— |
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— |
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Total cost (credit) recognized in statements of income |
$ |
9 |
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$ |
48 |
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$ |
11 |
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$ |
17 |
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Pension Benefits |
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Other Benefits |
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Six Months Ended |
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June 27,
2014 |
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June 28,
2013 |
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June 27,
2014 |
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June 28,
2013 |
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Service cost |
$ |
134 |
|
$ |
138 |
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$ |
13 |
|
$ |
18 |
|
Interest cost |
203 |
|
189 |
|
|
21 |
|
21 |
|
Expected return on plan assets |
(358 |
) |
(329 |
) |
|
(6 |
) |
(5 |
) |
Amortization of prior service cost (credit) |
(1 |
) |
(1 |
) |
|
(8 |
) |
(5 |
) |
Amortization of net actuarial loss |
36 |
|
99 |
|
|
2 |
|
6 |
|
Net periodic benefit cost (credit) |
$ |
14 |
|
$ |
96 |
|
|
$ |
22 |
|
$ |
35 |
|
Settlement charge |
2 |
|
— |
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|
— |
|
— |
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Total cost (credit) recognized in statements of income |
$ |
16 |
|
$ |
96 |
|
|
$ |
22 |
|
$ |
35 |
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During the six months ended June 27, 2014, the Company contributed $165 million to our pension plans, and we anticipate making additional contributions of approximately $6 million to our pension plans during the remainder of 2014. The Company contributed $616 million to our pension plans during the six months ended June 28, 2013.
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