Quarterly report pursuant to Section 13 or 15(d)

Pension and Other Postretirement Benefit Plans

v3.2.0.727
Pension and Other Postretirement Benefit Plans
 6 Months Ended
Jul. 03, 2015
Pension and Other Postretirement Benefit Plans  
Pension and Other Postretirement Benefit Plans
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
Net periodic benefit cost for our pension and other postretirement benefit plans consisted of the following (in millions):
 
Pension Benefits  
 
Other Benefits  
 
Three Months Ended
 
July 3,
2015

June 27,
2014

 
July 3,
2015

June 27,
2014

Service cost
$
66

$
67

 
$
7

$
7

Interest cost
95

102

 
10

10

Expected return on plan assets
(176
)
(180
)
 
(3
)
(3
)
Amortization of prior service cost (credit)
—

—

 
(4
)
(4
)
Amortization of net actuarial loss
50

18

 
2

1

Net periodic benefit cost (credit)
$
35

$
7


$
12

$
11

Special termination benefits1
9

—


—

—

Settlement charge
—

2


—

—

Total cost (credit) recognized in statements of income
$
44

$
9


$
12

$
11

 
Pension Benefits  
 
Other Benefits  
 
Six Months Ended
 
July 3,
2015

June 27,
2014

 
July 3,
2015

June 27,
2014

Service cost
$
133

$
134

 
$
14

$
13

Interest cost
190

203

 
19

21

Expected return on plan assets
(353
)
(358
)
 
(6
)
(6
)
Amortization of prior service cost (credit)
—

(1
)
 
(9
)
(8
)
Amortization of net actuarial loss
99

36

 
5

2

Net periodic benefit cost (credit)
$
69

$
14

 
$
23

$
22

Special termination benefits1
9

—

 
—

—

Settlement charge
—

2

 
—

—

Total cost (credit) recognized in statements of income
$
78

$
16

 
$
23

$
22


1 The special termination benefits were primarily related to the Company's productivity, restructuring and integration initiatives. Refer to Note 11 for additional information related to our productivity, restructuring and integration initiatives.
During the six months ended July 3, 2015, the Company contributed $81 million to our pension plans, and we anticipate making additional contributions of approximately $13 million during the remainder of 2015. The Company contributed $165 million to our pension plans during the six months ended June 27, 2014.