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PENSION AND OTHER POSTRETIREMENT BENEFITS
3 Months Ended
Jan. 27, 2019
PENSION AND OTHER POSTRETIREMENT BENEFITS  
PENSION AND OTHER POSTRETIREMENT BENEFITS

(8)  Pension and Other Postretirement Benefits

The Company has several defined benefit pension plans and postretirement benefit (OPEB) plans, primarily 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 

 

 

 

January 27

 

January 28 

 

 

 

2019

 

2018

 

Service cost

    

$

66

    

$

72

 

Interest cost

 

 

111

 

 

98

 

Expected return on plan assets

 

 

(200)

 

 

(194)

 

Amortization of actuarial loss

 

 

35

 

 

61

 

Amortization of prior service cost

 

 

3

 

 

3

 

Net cost

 

$

15

 

$

40

 

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

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended 

 

 

 

January 27

 

January 28 

 

 

 

2019

 

2018

 

Service cost

    

$

10

    

$

11

 

Interest cost

 

 

54

 

 

48

 

Expected return on plan assets

 

 

(9)

 

 

(5)

 

Amortization of actuarial loss

 

 

5

 

 

16

 

Amortization of prior service credit

 

 

(18)

 

 

(19)

 

Net cost

 

$

42

 

$

51

 

The components of net periodic pension and OPEB costs excluding the service cost component are included in the line item other operating expenses in the statement of consolidated income.

During the first three months of 2019, the Company contributed approximately $17 million to its pension plans and $36 million to its OPEB plans. The Company presently anticipates contributing an additional $52 million to its pension plans and $105 million to its OPEB plans during the remainder of fiscal year 2019. These contributions primarily include direct benefit payments from Company funds.