Retirement Plans

6 Months Ended

Jul. 04, 2020

Retirement Plans

Retirement Plans

Note 13. Retirement Plans

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

	Three Months Ended				Six Months Ended
	July 4,		June 29,		July 4,		June 29,
(In millions)	2020		2019		2020		2019
Pension Benefits
Service cost	$	26	$	22	$	52	$	45
Interest cost		74		81		147		163
Expected return on plan assets		(143)		(139)		(287)		(278)
Amortization of net actuarial loss		46		25		92		50
Amortization of prior service cost		3		4		6		7
Net periodic benefit cost (credit)	$	6	$	(7)	$	10	$	(13)
Postretirement Benefits Other Than Pensions
Service cost	$	1	$	—	$	2	$	1
Interest cost		2		3		4		5
Amortization of net actuarial loss		—		(1)		—		(1)
Amortization of prior service credit		(2)		(1)		(3)		(3)
Net periodic benefit cost	$	1	$	1	$	3	$	2