EMPLOYEE BENEFIT PLANS

9 Months Ended

Sep. 27, 2014

EMPLOYEE BENEFIT PLANS

NOTE 9. EMPLOYEE BENEFIT PLANS

Pension and Other Post-Employment Benefit Plans – North America

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

	Third Quarter 2014					Year-to-Date 2014
(In millions)	Pension Benefits			Other Benefits		Pension Benefits			Other Benefits
Service cost	$	1		$	—	$	3		$	—
Interest cost		13			—		39			1
Expected return on plan assets		(16	)		—		(47	)		—
Net periodic pension benefit	$	(2	)	$	—	$	(5	)	$	1

In the year-to-date 2014, $43 million of cash contributions were made to the North American pension and other post-employment plans. The Company expects to make an additional cash contribution of $1 million to the North American pension and other post-employment plans in 2014.

Pension Plan – Europe

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

	Third Quarter						Year-to-Date
(In millions)	2014			2013			2014			2013
Service cost	$	—		$	—		$	—		$	—
Interest cost		3			2			8			6
Expected return on plan assets		(4	)		(3	)		(11	)		(9	)
Net periodic pension benefit	$	(1	)	$	(1	)	$	(3	)	$	(3	)

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 post-employment benefit plans are recorded in Selling, general and administrative expenses in the Condensed Consolidated Statement of Operations.