Quarterly report pursuant to Section 13 or 15(d)

Pension and Other Postretirement Benefit Plans (Tables)

v3.10.0.1
Pension and Other Postretirement Benefit Plans (Tables)
6 Months Ended
Jun. 29, 2018
Pension and Other Postretirement Benefit Plans  
Periodic benefit cost, 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
 
June 29,
2018

June 30,
2017

 
June 29,
2018

June 30,
2017

Service cost
$
31

$
50

 
$
2

$
4

Interest cost
73

78

 
6

7

Expected return on plan assets1
(162
)
(163
)
 
(4
)
(3
)
Amortization of prior service cost (credit)
2


 
(3
)
(4
)
Amortization of net actuarial loss
29

45

 
1

2

Net periodic benefit cost (income)
(27
)
10

 
2

6

Curtailment credits2


 

(42
)
Settlement charges2
86


 


Special termination benefits2

39

 


Total cost (income) recognized in condensed consolidated
   statements of income
$
59

$
49

 
$
2

$
(36
)
1 The weighted-average expected long-term rates of return on plan assets used in computing 2018 net periodic benefit cost are 8.0 percent for pension benefit plans and 4.5 percent for other benefit plans.
2 
The curtailment credits, settlement charges and special termination benefits were primarily related to North America refranchising and the Company's productivity and reinvestment program. Refer to Note 2 and Note 12.
 
Pension Benefits  
 
Other Benefits  
 
Six Months Ended
 
June 29,
2018

June 30,
2017

 
June 29,
2018

June 30,
2017

Service cost
$
63

$
100

 
$
5

$
9

Interest cost
146

156

 
12

15

Expected return on plan assets1
(330
)
(324
)
 
(7
)
(6
)
Amortization of prior service cost (credit)
4


 
(7
)
(9
)
Amortization of net actuarial loss
63

89

 
2

4

Net periodic benefit cost (income)
(54
)
21

 
5

13

Curtailment credits2


 

(42
)
Settlement charges2
86


 


Special termination benefits2

57

 


Total cost (income) recognized in condensed consolidated
   statements of income
$
32

$
78

 
$
5

$
(29
)

1 The weighted-average expected long-term rates of return on plan assets used in computing 2018 net periodic benefit cost are 8.0 percent for pension benefit plans and 4.5 percent for other benefit plans.
2 
The curtailment credits, settlement charges and special termination benefits were primarily related to North America refranchising and the Company's productivity and reinvestment program. Refer to Note 2 and Note 12.