Pension and Retiree Medical Benefits (Notes)

3 Months Ended

Mar. 25, 2023

Pension and Retiree Medical Benefits [Abstract]

Pension and Retiree Medical Benefits

Pension and Retiree Medical Benefits

The components of net periodic benefit cost/(income) for pension and retiree medical plans are as follows:

	12 Weeks Ended
	Pension								Retiree Medical
	U.S.				International
	3/25/2023		3/19/2022		3/25/2023		3/19/2022		3/25/2023		3/19/2022
Service cost	$	76	$	114	$	8	$	17	$	6	$	8
Other pension and retiree medical benefits income:
Interest cost	137		88		25		17		8		4
Expected return on plan assets	(197)		(215)		(35)		(42)		(3)		(3)
Amortization of prior service credits	(6)		(6)		—		—		(1)		(2)
Amortization of net losses/(gains)	16		33		2		5		(6)		(3)
Settlement/curtailment gains	—		—		—		—		—		(16)
Special termination benefits	(1)		6		—		—		—		—
Total other pension and retiree medical benefits income	(51)		(94)		(8)		(20)		(2)		(20)
Total	$	25	$	20	$	—	$	(3)	$	4	$	(12)

We regularly evaluate opportunities to reduce risk and volatility associated with our pension and retiree medical plans.

During the 12 weeks ended March 25, 2023 and March 19, 2022, we made discretionary contributions of $125 million and $75 million, respectively, to our U.S. qualified defined benefit plans, and $17 million and $10 million, respectively, to our international defined benefit plans. We expect to make an additional discretionary contribution of $125 million to our U.S. qualified defined benefit plans in the third quarter of 2023.