Pension and Other Postretirement Benefit Plans

6 Months Ended

Apr. 01, 2017

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Plans

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

The components of the net periodic cost for the pension and postretirement benefit plans for the three and six months ended April 1, 2017, and April 2, 2016, are as follows (in millions):

	Pension Plans
	Three Months Ended						Six Months Ended
	April 1, 2017			April 2, 2016			April 1, 2017			April 2, 2016
Service cost	$	3		$	3		$	6		$	7
Interest cost	16			18			32			38
Expected return on plan assets	(14		)	(16		)	(29		)	(33		)
Amortization of:
Net actuarial loss	2			2			4			3
Settlement (gain) loss (a)	2			—			2			(12		)
Net periodic cost	$	9		$	7		$	15		$	3

	Postretirement Benefit Plans
	Three Months Ended						Six Months Ended
	April 1, 2017			April 2, 2016			April 1, 2017			April 2, 2016
Interest cost	$	1		$	1		$	1		$	2
Amortization of:
Net actuarial gain	—			(9		)	—			(9		)
Prior service credit	(6		)	(5		)	(12		)	(9		)
Net periodic cost (credit)	$	(5	)	$	(13	)	$	(11	)	$	(16	)

(a) We made lump-sum settlement payments using plan assets of $5 million and $265 million for the six months ended April 1, 2017 and April 2, 2016, respectively, to certain deferred vested participants within our qualified pension plans.

We contributed $13 million and $21 million to our pension plans for the three months ended April 1, 2017, and April 2, 2016, respectively. We contributed $22 million and $53 million to our pension plans for the six months ended April 1, 2017, and April 2, 2016, respectively. We expect to contribute an additional $18 million during the remainder of fiscal 2017. The amount of contributions made to pension plans in any year is dependent upon a number of factors, including minimum funding requirements in the jurisdictions in which we operate. As a result, the actual funding in fiscal 2017 may differ from the current estimate.