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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September 26,
2014 |
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September 27,
2013 |
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September 26,
2014 |
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September 27,
2013 |
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Service cost |
$ |
62 |
|
$ |
69 |
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|
$ |
7 |
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$ |
9 |
|
Interest cost |
101 |
|
93 |
|
|
11 |
|
10 |
|
Expected return on plan assets |
(179 |
) |
(163 |
) |
|
(3 |
) |
(2 |
) |
Amortization of prior service cost (credit) |
— |
|
(1 |
) |
|
(4 |
) |
(3 |
) |
Amortization of net actuarial loss |
18 |
|
50 |
|
|
— |
|
3 |
|
Net periodic benefit cost (credit) |
$ |
2 |
|
$ |
48 |
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|
$ |
11 |
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$ |
17 |
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Settlement charge |
— |
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— |
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|
— |
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— |
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Total cost (credit) recognized in statements of income |
$ |
2 |
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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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Nine Months Ended |
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September 26,
2014 |
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September 27,
2013 |
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|
September 26,
2014 |
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September 27,
2013 |
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Service cost |
$ |
196 |
|
$ |
207 |
|
|
$ |
20 |
|
$ |
27 |
|
Interest cost |
304 |
|
282 |
|
|
32 |
|
31 |
|
Expected return on plan assets |
(537 |
) |
(492 |
) |
|
(9 |
) |
(7 |
) |
Amortization of prior service cost (credit) |
(1 |
) |
(2 |
) |
|
(12 |
) |
(8 |
) |
Amortization of net actuarial loss |
54 |
|
149 |
|
|
2 |
|
9 |
|
Net periodic benefit cost (credit) |
$ |
16 |
|
$ |
144 |
|
|
$ |
33 |
|
$ |
52 |
|
Settlement charge |
2 |
|
— |
|
|
— |
|
— |
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Total cost (credit) recognized in statements of income |
$ |
18 |
|
$ |
144 |
|
|
$ |
33 |
|
$ |
52 |
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During the nine months ended September 26, 2014, the Company contributed $168 million to our pension plans, and we anticipate making additional contributions of approximately $48 million to our pension plans during the remainder of 2014. The Company contributed $574 million to our pension plans during the nine months ended September 27, 2013.
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