Pension, Retiree Medical and Savings Plans (Tables)

12 Months Ended

Dec. 31, 2022

Defined Benefit Plan Disclosure [Line Items]

Schedule Of Plan Assets Measured At Fair Value Table Text Block

Plan assets measured at fair value as of year-end 2022 and 2021 are categorized consistently by Level 1 (quoted prices in active markets for identical assets), Level 2 (significant other observable inputs) and Level 3 (significant unobservable inputs) in both years and are as follows:

	Fair Value Hierarchy Level	2022		2021
U.S. plan assets (a)
Equity securities, including preferred stock (b)	1	$	4,387	$	6,387
Government securities (c)	2	1,751		2,523
Corporate bonds (c)	2	4,245		6,210
Mortgage-backed securities (c)	2	142		199
Contracts with insurance companies (d)	3	9		9
Cash and cash equivalents (e)	1, 2	157		352
Sub-total U.S. plan assets		10,691		15,680
Real estate commingled funds measured at net asset value (f)		533		478
Dividends and interest receivable, net of payables		120		45
Total U.S. plan assets		$	11,344	$	16,203
International plan assets
Equity securities (b)	1	$	1,291	$	2,232
Government securities (c)	2	736		1,053
Corporate bonds (c)	2	254		400
Fixed income commingled funds (g)	1	628		632
Contracts with insurance companies (d)	3	27		43
Cash and cash equivalents	1	75		34
Sub-total international plan assets		3,011		4,394
Real estate commingled funds measured at net asset value (f)		173		221
Dividends and interest receivable		11		9
Total international plan assets		$	3,195	$	4,624

(a)Includes $196 million and $299 million in 2022 and 2021, respectively, of retiree medical plan assets that are restricted for purposes of providing health benefits for U.S. retirees and their beneficiaries.

(b)Invested in U.S. and international common stock and commingled funds, and the preferred stock portfolio was invested in domestic and international corporate preferred stock investments. The common and preferred stock investments are based on quoted prices in active markets. The commingled funds are based on the published price of the fund and include one large-cap fund that represents 10% and 11% of total U.S. plan assets for 2022 and 2021, respectively.

(c)These investments are based on quoted bid prices for comparable securities in the marketplace and broker/dealer quotes in active markets. Corporate bonds of U.S.-based companies represents 32% of total U.S. plan assets for 2022 and 2021.

(d)Based on the fair value of the contracts as determined by the insurance companies using inputs that are not observable. The changes in Level 3 amounts were not significant in the years ended December 31, 2022 and December 25, 2021.

(e)Includes Level 1 assets of $216 million for 2021 and Level 2 assets of $157 million and $136 million for 2022 and 2021, respectively.

(f)The real estate commingled funds include investments in limited partnerships. These funds are based on the net asset value of the appraised value of investments owned by these funds as determined by independent third parties using inputs that are not observable. The majority of the funds are redeemable quarterly subject to availability of cash and have notice periods ranging from 45 to 90 days.

(g)Based on the published price of the fund.

Selected Financial Information For Pension And Retiree Medical Plans

Selected financial information for our pension and retiree medical plans is as follows: 

	Pension								Retiree Medical
	U.S.				International
	2022		2021		2022		2021		2022		2021
Change in projected benefit obligation
Obligation at beginning of year	$	16,216	$	16,753	$	4,175	$	4,430	$	954	$	1,006
Service cost	487		518		64		104		37		33
Interest cost	434		324		90		74		19		15
Plan amendments	10		23		—		3		—		—
Participant contributions	—		—		2		3		—		—
Experience gain	(3,989)		(215)		(1,284)		(178)		(198)		(17)
Benefit payments	(412)		(976)		(127)		(106)		(81)		(83)
Settlement/curtailment	(1,109)		(220)		(5)		(99)		(14)		—
Special termination benefits	37		9		—		—		—		—
Other, including foreign currency adjustment	(131)		—		(312)		(56)		(3)		—
Obligation at end of year	$	11,543	$	16,216	$	2,603	$	4,175	$	714	$	954
Change in fair value of plan assets
Fair value at beginning of year	$	15,904	$	15,465	$	4,624	$	4,303	$	299	$	315
Actual return on plan assets	(3,337)		1,052		(1,026)		387		(68)		20
Employer contributions/funding	235		580		101		158		48		47
Participant contributions	—		—		2		3		—		—
Benefit payments	(412)		(976)		(127)		(106)		(81)		(83)
Settlement	(1,117)		(217)		(5)		(52)		—		—
Other, including foreign currency adjustment	(125)		—		(374)		(69)		(2)		—
Fair value at end of year	$	11,148	$	15,904	$	3,195	$	4,624	$	196	$	299
Funded status	$	(395)	$	(312)	$	592	$	449	$	(518)	$	(655)

Amounts recognized
Other assets	$	225	$	692	$	708	$	564	$	—	$	—
Other current liabilities	(56)		(48)		(7)		(1)		(54)		(57)
Other liabilities	(564)		(956)		(109)		(114)		(464)		(598)
Net amount recognized	$	(395)	$	(312)	$	592	$	449	$	(518)	$	(655)
Amounts included in accumulated other comprehensive loss (pre-tax)
Net loss/(gain)	$	3,337	$	3,550	$	571	$	696	$	(320)	$	(220)
Prior service credit	(21)		(63)		(9)		(11)		(25)		(34)
Total	$	3,316	$	3,487	$	562	$	685	$	(345)	$	(254)
Changes recognized in net (gain)/loss included in other comprehensive loss
Net loss/(gain) arising in current year	$	254	$	(301)	$	(40)	$	(355)	$	(114)	$	(22)
Amortization and settlement recognition	(467)		(265)		(30)		(95)		14		14
Foreign currency translation gain	—		—		(55)		(3)		—		—
Total	$	(213)	$	(566)	$	(125)	$	(453)	$	(100)	$	(8)
Accumulated benefit obligation at end of year	$	11,104	$	15,489	$	2,483	$	4,021

Schedule of Net Benefit Costs [Table Text Block]

The components of total pension and retiree medical benefit costs are as follows:

	Pension												Retiree Medical
	U.S.						International
	2022		2021		2020		2022		2021		2020		2022		2021		2020
Service cost	$	487	$	518	$	434	$	64	$	104	$	86	$	37	$	33	$	25
Other pension and retiree medical benefits (income)/expense:
Interest cost	$	434	$	324	$	435	$	90	$	74	$	85	$	19	$	15	$	25
Expected return on plan assets	(912)		(970)		(929)		(218)		(231)		(202)		(16)		(15)		(16)
Amortization of prior service (credit)/cost	(28)		(31)		12		(1)		(2)		—		(8)		(11)		(12)
Amortization of net losses/(gains)	149		224		196		29		77		61		(14)		(14)		(23)
Settlement/curtailment losses/(gains) (a)	322		40		213		1		(11)		19		(16)		—		—
Special termination benefits	37		9		19		—		—		—		—		—		—
Total other pension and retiree medical benefits (income)/expense	$	2	$	(404)	$	(54)	$	(99)	$	(93)	$	(37)	$	(35)	$	(25)	$	(26)
Total	$	489	$	114	$	380	$	(35)	$	11	$	49	$	2	$	8	$	(1)

(a)In 2022 and 2020, U.S. includes a settlement charge of $318 million ($246 million after-tax or $0.18 per share) and $205 million ($158 million after-tax or $0.11 per share), respectively, related to lump sum distributions exceeding the total of annual service and interest cost.

Weighted-Average Assumptions Used To Determine Projected Benefit Liability And Benefit Expense For Pension And Retiree Medical Plans

The following table provides the weighted-average assumptions used to determine net periodic benefit cost and projected benefit obligation for our pension and retiree medical plans:

	Pension												Retiree Medical
	U.S.						International
	2022		2021		2020		2022		2021		2020		2022		2021		2020
Net Periodic Benefit Cost
Service cost discount rate (a)	3.1	%	2.6	%	3.4	%	4.2	%	2.7	%	3.2	%	2.8	%	2.3	%	3.2	%
Interest cost discount rate (a)	3.1	%	2.0	%	2.9	%	2.3	%	1.7	%	2.4	%	2.1	%	1.6	%	2.6	%
Expected return on plan assets (a)	6.7	%	6.4	%	6.8	%	5.3	%	5.3	%	5.6	%	5.7	%	5.4	%	5.8	%
Rate of salary increases	3.0	%	3.0	%	3.1	%	3.3	%	3.3	%	3.3	%
Projected Benefit Obligation
Discount rate	5.4	%	2.9	%	2.5	%	5.3	%	2.4	%	2.0	%	5.4	%	2.7	%	2.3	%
Rate of salary increases	3.2	%	3.0	%	3.0	%	4.2	%	3.3	%	3.3	%

Future Benefit Payments

Our estimated future benefit payments are as follows:

	2023		2024		2025		2026		2027		2028 - 2032
Pension	$	945	$	1,070	$	910	$	955	$	975	$	5,100
Retiree medical (a)	$	90	$	85	$	80	$	80	$	75	$	330

(a)Expected future benefit payments for our retiree medical plans do not reflect any estimated subsidies expected to be received under the 2003 Medicare Act. Subsidies are expected to be approximately $1 million for each of the years from 2023 through 2027 and approximately $3 million in total for 2028 through 2032.

Target Investment Allocation

For 2023 and 2022, our expected long-term rate of return on U.S. plan assets is 7.4% and 6.7%, respectively. Our target investment allocations for U.S. plan assets for both 2023 and 2022 are as follows:

Fixed income	56	%
U.S. equity	22	%
International equity	18	%
Real estate	4	%

Effects Of 1-Percentage-Point Change In The Assumed Health Care Trend Rate

Retiree Medical Cost Trend Rates

The assumed health care cost trend rates are as follows:

	2023		2022
Average increase assumed	6	%	6	%
Ultimate projected increase	4	%	4	%
Year of ultimate projected increase	2046		2046

Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets

The following table provides selected information about plans with accumulated benefit obligation and total projected benefit obligation in excess of plan assets:

	Pension								Retiree Medical
	U.S.				International
	2022		2021		2022		2021		2022		2021
Selected information for plans with accumulated benefit obligation in excess of plan assets
Obligation for service to date	$	(584)	$	(1,499)	$	(158)	$	(127)
Fair value of plan assets	$	—	$	705	$	129	$	102
Selected information for plans with projected benefit obligation in excess of plan assets
Benefit obligation	$	(620)	$	(1,709)	$	(273)	$	(286)	$	(714)	$	(954)
Fair value of plan assets	$	—	$	705	$	157	$	171	$	196	$	299

Employer Contributions

Contributions to our pension and retiree medical plans were as follows:

	Pension						Retiree Medical
	2022		2021		2020		2022		2021		2020
Discretionary (a)	$	160	$	525	$	339	$	—	$	—	$	—
Non-discretionary	176		213		168		48		47		55
Total	$	336	$	738	$	507	$	48	$	47	$	55

(a)Includes $150 million contribution in 2022, $500 million contribution in 2021 and $325 million contribution in 2020 to fund our U.S. qualified defined benefit plans.