Postretirement Benefit Plans

6 Months Ended

Jan. 01, 2016

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits

Note K— Postretirement Benefit Plans

The following table provides the components of our net periodic benefit cost for our defined benefit plans, including defined benefit pension plans and other postretirement defined benefit plans:

		Quarter Ended January 1, 2016						Two Quarters Ended January 1, 2016
				Other							Other
		Pension		Benefits		Total			Pension		Benefits		Total
		(In millions)
Net periodic benefit cost
	Service cost	$	20	$	2	$	22	$	38	$	3	$	41
	Interest cost		61		3		64		123		7		130
	Expected return on plan assets		(85)		(4)		(89)		(171)		(9)		(180)
	Amortization of net actuarial loss		―		―		―		―		2		2
	Amortization of prior service cost		―		(4)		(4)		―		(7)		(7)
Net periodic benefit cost		$	(4)	$	(3)	$	(7)		(10)		(4)		(14)
Effect of curtailments or settlements (1)			―		(121)		(121)		―		(121)		(121)
Total net periodic benefit cost		$	(4)	$	(124)	$	(128)	$	(10)	$	(125)	$	(135)
_____________

• Wediscontinued certain significantly underfunded post-employment benefit plans effective December 31, 2015. Under GAAP, this resulted in a negative plan amendment and curtailment during the quarter ended January 1, 2016, a settlement as of December 31, 2015, and a net liability reduction of $101 million.

We contributed $97million to our qualified defined benefit pension plans during the two quarters ended January 1, 2016. We currently anticipate making additional contributions to our qualified defined benefit pension plans of approximately $76 million during the remainder of fiscal 2016.