Quarterly report pursuant to Section 13 or 15(d)

Pension and Other Postretirement Benefit Plans (Tables)

v3.21.2
Pension and Other Postretirement Benefit Plans (Tables)
 9 Months Ended
Oct. 01, 2021
Pension and Other Postretirement Benefit Plans  
Defined Contribution Plan Disclosures
The total cost (income) for our pension and other postretirement benefit plans consisted of the following (in millions):
Pension Benefit Plans Other Postretirement
Benefit Plans  
Three Months Ended
October 1,
2021		 September 25,
2020		 October 1,
2021		 September 25,
2020
Service cost $ 25  $ 28  $ 2  $ 2 
Interest cost 46  58  4  6 
Expected return on plan assets1
(152) (148) (4) (4)
Amortization of prior service credit —  —  (1) (1)
Amortization of net actuarial loss 34  43  —  2 
Net periodic benefit cost (income) (47) (19) 1  5 
Curtailment charges2
—  —  —  11 
Settlement charges2
21  —  —  — 
Total cost (income) $ (26) $ (19) $ 1  $ 16 
1 The weighted-average expected long-term rates of return on plan assets used in computing 2021 net periodic benefit cost (income) were 7.25 percent for pension benefit plans and 4.25 percent for other postretirement benefit plans.
2 The settlement charges were related to our strategic realignment initiatives. Refer to Note 12.
Pension Benefit Plans Other Postretirement
Benefit Plans  
Nine Months Ended
October 1,
2021		 September 25,
2020		 October 1,
2021		 September 25,
2020
Service cost $ 74  $ 84  $ 7  $ 8 
Interest cost 137  176  11  17 
Expected return on plan assets1
(454) (440) (13) (12)
Amortization of prior service credit —  —  (2) (2)
Amortization of net actuarial loss 114  128  1  4 
Net periodic benefit cost (income) (129) (52) 4  15 
Curtailment charges2
—  —  —  11 
Settlement charges2
104  —  —  — 
Total cost (income) $ (25) $ (52) $ 4  $ 26 
1 The weighted-average expected long-term rates of return on plan assets used in computing 2021 net periodic benefit cost (income) were 7.25 percent for pension benefit plans and 4.25 percent for other postretirement benefit plans.
2 The settlement charges were related to our strategic realignment initiatives. Refer to Note 12.