Retirement Plans

9 Months Ended

Sep. 28, 2013

Retirement Plans

Retirement Plans

Note 2.  Retirement Plans

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

	Pension Benefits					Postretirement Benefits Other Than Pensions
(In millions)	September 28, 2013		September 29, 2012			September 28, 2013		September 29, 2012
Three Months Ended
Service cost	$	33	$	30		$	1	$	2
Interest cost	72		77			5		6
Expected return on plan assets	(104)		(102		)	—		—
Amortization of prior service cost (credit)	4		4			(6)		(3		)
Amortization of net actuarial loss	46		29			2		2
Net periodic benefit cost	$	51	$	38		$	2	$	7
Nine Months Ended
Service cost	$	100	$	89		$	5	$	5
Interest cost	218		229			15		19
Expected return on plan assets	(314)		(305		)	—		—
Amortization of prior service cost (credit)	11		12			(11)		(9		)
Amortization of net actuarial loss	138		88			5		5
Net periodic benefit cost	$	153	$	113		$	14	$	20

Retirement Plan Amendment

During the third quarter of 2013, we amended one of our postretirement benefit plans which triggered a re-measurement of the plan’s projected benefit obligation. The discount rate for this plan was increased to 4.50% from 3.75%, while other assumptions remained consistent with year-end assumptions. As a result of the amendment and the revised discount rate, we recorded a reduction in unrealized losses and prior service cost of $55 million through other comprehensive income in the third quarter of 2013.