Pension and Retiree Medical Benefits (Notes)

6 Months Ended

Jun. 15, 2024

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
	6/15/2024		6/17/2023		6/15/2024		6/17/2023		6/15/2024		6/17/2023
Service cost	$	80	$	75	$	12	$	10	$	8	$	7
Other pension and retiree medical benefits income:
Interest cost	135		137		36		34		8		9
Expected return on plan assets	(202)		(196)		(50)		(46)		(3)		(3)
Amortization of prior service credits	(5)		(6)		(1)		—		(1)		(2)
Amortization of net losses/(gains)	18		16		5		3		(6)		(6)
Settlement losses	—		—		2		—		—		—
Special termination benefits	8		—		—		—		—		—
Total other pension and retiree medical benefits income	(46)		(49)		(8)		(9)		(2)		(2)
Total	$	34	$	26	$	4	$	1	$	6	$	5

	24 Weeks Ended
	Pension								Retiree Medical
	U.S.				International
	6/15/2024		6/17/2023		6/15/2024		6/17/2023		6/15/2024		6/17/2023
Service cost	$	160	$	151	$	21	$	18	$	15	$	13
Other pension and retiree medical benefits income:
Interest cost	270		274		63		59		15		17
Expected return on plan assets	(403)		(393)		(89)		(81)		(6)		(6)
Amortization of prior service credits	(11)		(12)		(1)		—		(2)		(3)
Amortization of net losses/(gains)	36		32		9		5		(12)		(12)
Settlement losses	—		—		2		—		—		—
Special termination benefits	15		(1)		—		—		—		—
Total other pension and retiree medical benefits income	(93)		(100)		(16)		(17)		(5)		(4)
Total	$	67	$	51	$	5	$	1	$	10	$	9

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

In the 24 weeks ended June 15, 2024 and June 17, 2023, we made discretionary contributions of $150 million and $125 million, respectively, to our U.S. qualified defined benefit plans, and $27 million and $17 million, respectively, to our international defined benefit plans.