Pension Plans

9 Months Ended

Oct. 01, 2022

Retirement Benefits [Abstract]

Pension Plans

Note 20. Pension Plans

We sponsor multiple funded and unfunded U.S. and non-U.S. defined benefit pension plans. Pension benefits for many of our U.S. employees are provided through non-contributory, qualified and non-qualified defined benefit plans. We also sponsor defined benefit pension plans which cover non-U.S. employees who are not U.S. citizens, in certain jurisdictions, principally Germany, Austria, Belgium, France, India, Switzerland, and the Netherlands. Our pension obligations as of October 1, 2022 and December 31, 2021 were $101 million and $115 million, respectively, and are included in Other liabilities of the Financial Statements as of October 1, 2022.

The following table summarizes the components of the periodic benefit cost, before tax for the periods indicated:

	U.S. Plans
	Three months ended						Nine months ended
	October 1, 2022			October 2, 2021			October 1, 2022			October 2, 2021
Periodic benefit cost:
Service cost	$	2		$	2		$	5		$	6
Interest cost		3			5			8			7
Expected return on plan assets		(4	)		(8	)		(13	)		(12	)
Net periodic benefit cost	$	1		$	(1	)	$	0		$	1
	Non-U.S. Plans
	Three months ended						Nine months ended
	October 1, 2022			October 2, 2021			October 1, 2022			October 2, 2021
Periodic benefit cost:
Service cost	$	1		$	2		$	4		$	5
Interest cost		-			-			1			1
Expected return on plan assets		-			-			-			-
Net periodic benefit cost	$	1		$	2		$	5		$	6

The Company is not required to make contributions to the defined benefit plans in 2022.