XML 25 R14.htm IDEA: XBRL DOCUMENT v3.7.0.1
PENSION AND OTHER POSTRETIREMENT BENEFITS
9 Months Ended
Jul. 30, 2017
PENSION AND OTHER POSTRETIREMENT BENEFITS  
PENSION AND OTHER POSTRETIREMENT BENEFITS

(7)The Company has several defined benefit pension plans and defined postretirement health care and life insurance plans covering its U.S. employees and employees in certain foreign countries.

The worldwide components of net periodic pension cost consisted of the following in millions of dollars:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

July 30

 

July 31

 

July 30

 

July 31

 

 

 

2017

 

2016

 

2017

 

2016

 

Service cost

    

$

68

    

$

64

    

$

203

    

$

190

 

Interest cost

 

 

90

 

 

98

 

 

270

 

 

293

 

Expected return on plan assets

 

 

(197)

 

 

(194)

 

 

(591)

 

 

(581)

 

Amortization of actuarial loss

 

 

61

 

 

51

 

 

182

 

 

155

 

Amortization of prior service cost

 

 

3

 

 

4

 

 

9

 

 

12

 

Settlements/curtailments

 

 

1

 

 

1

 

 

2

 

 

10

 

Net cost

 

$

26

 

$

24

 

$

75

 

$

79

 

The worldwide components of net periodic postretirement benefits cost (health care and life insurance) consisted of the following in millions of dollars:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

July 30

 

July 31

 

July 30

 

July 31

 

 

 

2017

 

2016

 

2017

 

2016

 

Service cost

    

$

11

    

$

9

    

$

32

    

$

28

 

Interest cost

 

 

48

 

 

51

 

 

146

 

 

153

 

Expected return on plan assets

 

 

(4)

 

 

(8)

 

 

(13)

 

 

(26)

 

Amortization of actuarial loss

 

 

25

 

 

18

 

 

74

 

 

55

 

Amortization of prior service credit

 

 

(20)

 

 

(19)

 

 

(58)

 

 

(58)

 

Net cost

 

$

60

 

$

51

 

$

181

 

$

152

 

During the first nine months of 2017, the Company contributed approximately $50 million to its pension plans and $44 million to its other postretirement benefit plans. The Company presently anticipates contributing an additional $12 million to its pension plans and $8 million to its other postretirement benefit plans during the remainder of fiscal year 2017. These contributions include payments from Company funds to either increase plan assets or make direct payments to plan participants.