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POSTRETIREMENT BENEFIT PLANS
 3 Months Ended
Mar. 29, 2015
POSTRETIREMENT BENEFIT PLANS

NOTE 5 – POSTRETIREMENT BENEFIT PLANS

Our pretax net periodic benefit cost related to our qualified defined benefit pension plans and retiree medical and life insurance plans consisted of the following (in millions):

 

  Quarters Ended  
       March 29,    
2015		       March 30,    
2014		  

Qualified defined benefit pension plans

Service cost

 $ 217             $ 243            

Interest cost

   448              488            

Expected return on plan assets

   (684)             (660)           

Recognized net actuarial losses

   400              221            

Amortization of net prior service (credits) costs

   (97)             21            

Total net periodic benefit cost

 $         284            $         313            

Retiree medical and life insurance plans

Service cost

 $ 5            $ 5            

Interest cost

   28              31            

Expected return on plan assets

   (37)             (36)           

Recognized net actuarial losses

   11              6            

Amortization of net prior service costs

   1              1            

Total net periodic benefit cost

 $ 8            $ 7            

The recognized net actuarial losses and the amortization of net prior service (credits) costs in the table above, as well as similar amounts related to our other postretirement benefit plans ($13 million for the quarter ended March 29, 2015 and $9 million for the quarter ended March 30, 2014), reflect amounts that were reclassified from accumulated other comprehensive loss (AOCL) and recorded as a component of net periodic benefit cost for the periods presented. These costs totaled $212 million (net of $116 million of tax expense) for the quarter ended March 29, 2015 and $167 million (net of $91 million of tax expense) for the quarter ended March 30, 2014, which were recorded on our Statements of Comprehensive Income as an increase to other comprehensive income.

The funding of our qualified defined benefit pension plans is determined in accordance with the Employee Retirement Income Security Act of 1974 (ERISA), as amended by the Pension Protection Act of 2006 (PPA), and in a manner consistent with CAS and Internal Revenue Code rules. There were no contributions to either our qualified defined benefit pension plans or our retiree medical and life insurance plans during the quarters ended March 29, 2015 and March 30, 2014. We do not plan to make contributions to our qualified defined benefit pension plans in 2015.