Retirement Plans

6 Months Ended

Jul. 02, 2022

Retirement Benefits [Abstract]

Retirement Plans

Retirement PlansWe provide defined benefit pension plans and other postretirement benefits to eligible employees.  The components of net periodic benefit (income) cost for these plans are as follows:

	Three Months Ended				Six Months Ended
(In millions)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Pension Benefits
Service cost	$	27	$	29	$	54	$	58
Interest cost	68		63		136		126
Expected return on plan assets	(153)		(144)		(306)		(288)
Amortization of net actuarial loss	22		38		44		77
Amortization of prior service cost	3		3		6		6
Net periodic benefit income*	$	(33)	$	(11)	$	(66)	$	(21)
Postretirement Benefits Other Than Pensions
Service cost	$	—	$	—	$	1	$	1
Interest cost	2		2		3		3
Amortization of net actuarial gain	(1)		—		(2)		(1)
Amortization of prior service credit	(1)		(1)		(2)		(2)
Net periodic benefit cost	$	—	$	1	$	—	$	1

* Excludes the cost associated with the defined contribution component, included in certain of our U.S.-based defined benefit pension plans, that totaled $3 million and $3 million in the second quarter of 2022 and 2021, respectively, and $7 million and $6 million for the first half of 2022 and 2021, respectively.