EMPLOYEE BENEFIT PLANS

3 Months Ended

Mar. 28, 2015

EMPLOYEE BENEFIT PLANS

NOTE 9. EMPLOYEE BENEFIT PLANS

Pension and Other Postretirement Benefit Plans – North America

The components of net periodic pension benefit for the Company’s North American pension and other postretirement plans are as follows:

	First Quarter 2015					First Quarter 2014
(In millions)	Pension Benefits			Other Benefits		Pension Benefits			Other Benefits
Service cost	$	1		$	—	$	1		$	—
Interest cost		11			—		13			—
Expected return on plan assets		(14	)		—		(15	)		—
Net periodic pension benefit	$	(2	)	$	—	$	(1	)	$	—

In the first quarter 2015, $4 million of cash contributions were made to the North American pension and other postretirement plans. The Company expects to make additional cash contributions of $6 million to the North American pension and other postretirement plans in 2015.

Pension Plan – Europe

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

	First Quarter
(In millions)	2015			2014
Service cost	$	—		$	—
Interest cost		2			3
Expected return on plan assets		(3	)		(4	)
Net periodic pension benefit	$	(1	)	$	(1	)

The Company’s European pension plan is in a net asset position. There are no funding requirements while this 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 Statements of Operations.