EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 28, 2014

EMPLOYEE BENEFIT PLANS

NOTE 9. EMPLOYEE BENEFIT PLANS

Pension and Other Postretirement Benefit Plans – North America

The components of net periodic pension (benefit) cost for the Company’s North American pension are as follows:

	Second Quarter 2014					First Half 2014
(In millions)	Pension Benefits			Other Benefits		Pension Benefits			Other Benefits
Service cost	$	1		$	—	$	2		$	—
Interest cost		13			—		26			—
Expected return on plan assets		(16	)		—		(31	)		—
Net periodic pension benefit	$	(2	)	$	—	$	(3	)	$	—

In the first half of 2014, $38 million of cash contributions were made to the North American pension and other postretirement plans. Of the $12 million of additional cash contributions expected to be made by the Company to the North American pension and other postretirement plans in 2014, $4 million was contributed in July 2014.

Pension Plan – Europe

The components of net periodic pension benefit for the Company’s foreign pension plan are as follows:

	Second Quarter						First Half
(In millions)	2014			2013			2014			2013
Service cost	$	—		$	—		$	—		$	—
Interest cost		3			2			5			4
Expected return on plan assets		(4	)		(3	)		(7	)		(6	)
Net periodic pension benefit	$	(1	)	$	(1	)	$	(2	)	$	(2	)

The plan is in a net asset position. There are no funding requirements while the plan has an asset surplus.

Net periodic pension benefits for the North American and European pension and other postretirement benefit plans are recorded in Selling, general and administrative expenses in the Condensed Consolidated Statement of Operations.