Quarterly report pursuant to Section 13 or 15(d)

Pension and Other Postretirement Benefit Plans

v3.7.0.1
Pension and Other Postretirement Benefit Plans
 3 Months Ended
Mar. 31, 2017
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
 
March 31,
2017

April 1,
2016

 
March 31,
2017

April 1,
2016

Service cost
$
50

$
59

 
$
5

$
5

Interest cost
78

80

 
8

8

Expected return on plan assets1
(161
)
(164
)
 
(3
)
(3
)
Amortization of prior service cost (credit)
—

—

 
(5
)
(5
)
Amortization of net actuarial loss
44

46

 
2

2

Net periodic benefit cost
11

21

 
7

7

Special termination benefits2
18

8

 
—

—

Total cost recognized in condensed consolidated statements of income
$
29

$
29

 
$
7

$
7

1 The weighted-average expected long-term rates of return on plan assets used in computing 2017 net periodic benefit cost are 8.0 percent for pension benefits and 4.5 percent for other benefits.
2 
The special termination benefits were primarily related to North America refranchising and the Company's productivity, restructuring and integration initiatives. Refer to Note 2 and Note 11.
During the three months ended March 31, 2017, the Company contributed $43 million to our pension plans, and we anticipate making additional contributions of approximately $56 million during the remainder of 2017. The Company contributed $493 million to our pension plans during the three months ended April 1, 2016.