Pension and Other Benefit Programs (Tables)

12 Months Ended

Oct. 01, 2016

Compensation and Retirement Disclosure [Abstract]

Benefit Obligations, Assets, Funded Status and Balance Sheet Impacts Associated with Pension and Postretirement Medical Benefit Plans based upon Actuarial Valuations

The following chart summarizes the benefit obligations, assets, funded status and balance sheet impacts associated with the defined benefit pension and postretirement medical benefit plans:

	Pension Plans						Postretirement Medical Plans
	October 1, 2016			October 3, 2015			October 1, 2016			October 3, 2015
Projected benefit obligations
Beginning obligations	$	(12,379	)	$	(12,190	)	$	(1,590	)	$	(1,567	)
Service cost	(318		)	(332		)	(11		)	(14		)
Interest cost	(458		)	(521		)	(61		)	(68		)
Actuarial gain / (loss)	(1,769		)	(176		)	(142		)	33
Plan amendments and other	8			28			(9		)	(9		)
Benefits paid(1)	436			812			54			35
Ending obligations	$	(14,480	)	$	(12,379	)	$	(1,759	)	$	(1,590	)
Fair value of plans’ assets
Beginning fair value	$	9,415		$	9,765		$	568		$	538
Actual return on plan assets	624			163			34			9
Contributions	839			337			61			48
Benefits paid(1)	(436		)	(812		)	(54		)	(35		)
Expenses and other	(41		)	(38		)	5			8
Ending fair value	$	10,401		$	9,415		$	614		$	568
Underfunded status of the plans	$	(4,079	)	$	(2,964	)	$	(1,145	)	$	(1,022	)
Amounts recognized in the balance sheet
Non-current assets	$	—		$	3		$	—		$	—
Current liabilities	(40		)	(36		)	—			(13		)
Non-current liabilities	(4,039		)	(2,931		)	(1,145		)	(1,009		)
	$	(4,079	)	$	(2,964	)	$	(1,145	)	$	(1,022	)

⁽¹⁾  Fiscal 2015 pension plans include $340 million of payments under a plan offered for a limited time to certain former employees who had vested benefits in our qualified defined benefit pension plans. These employees elected to receive an immediate lump-sum distribution in lieu of benefits they would have received following their retirement.

Net Periodic Benefit Cost

The components of net periodic benefit cost are as follows:

	Pension Plans									Postretirement Medical Plans
	2016			2015			2014			2016			2015			2014
Service cost	$	318		$	332		$	277		$	11		$	14		$	10
Interest cost	458			521			488			61			68			65
Expected return on plan assets	(747		)	(711		)	(645		)	(45		)	(39		)	(36		)
Amortization of prior year service costs	14			16			14			(1		)	(1		)	(2		)
Recognized net actuarial loss / (gain)	242			247			145			8			10			(7		)
Net periodic benefit cost	$	285		$	405		$	279		$	34		$	52		$	30

Key Assumptions

Key assumptions are as follows:
	Pension Plans						Postretirement Medical Plans
	2016		2015		2014		2016		2015		2014
Discount rate used to determine the benefit obligation	3.73	%	4.47	%	4.40	%	3.73	%	4.47	%	4.40	%
Discount rate used to determine the net periodic benefit cost	3.81	%	4.40	%	5.00	%	3.81	%	4.40	%	5.00	%
Rate of return on plan assets	7.50	%	7.50	%	7.50	%	7.50	%	7.50	%	7.50	%
Rate of salary increase	4.00	%	4.00	%	4.00	%	n/a		n/a		n/a
Year 1 increase in cost of benefits	n/a		n/a		n/a		7.00	%	7.00	%	7.00	%
Rate of increase to which the cost of benefits is assumed to decline (the ultimate trend rate)	n/a		n/a		n/a		4.25	%	4.25	%	4.25	%
Year that the rate reaches the ultimate trend rate	n/a		n/a		n/a		2030		2029		2028

Accumulated Other Comprehensive Loss, Before Tax, Not yet Recognized in Net Periodic Benefit Cost

AOCI, before tax, as of October 1, 2016 consists of the following amounts that have not yet been recognized in net periodic benefit cost:

	Pension Plans			Postretirement Medical Plans			Total
Prior service cost	$	(56	)	$	—		$	(56	)
Net actuarial loss	(5,470		)	(263		)	(5,733		)
Total amounts included in AOCI	(5,526		)	(263		)	(5,789		)
Prepaid / (accrued) pension cost	1,447			(882		)	565
Net balance sheet liability	$	(4,079	)	$	(1,145	)	$	(5,224	)

Amounts included in Accumulated Other Comprehensive Loss, Before Tax, Expected to be Recognized as Components of Net Periodic Benefit Cost

Amounts included in AOCI, before tax, as of October 1, 2016 that are expected to be recognized as components of net periodic benefit cost during fiscal 2017 are:

	Pension Plans			Postretirement Medical Plans			Total
Prior service cost	$	(11	)	$	—		$	(11	)
Net actuarial loss	(403		)	(16		)	(419		)
Total	$	(414	)	$	(16	)	$	(430	)

Plan Assets Investment Policy Ranges for Major Asset Classes

The investment policy ranges for the major asset classes are as follows:

Asset Class	Minimum		Maximum
Equity investments	30	%	60	%
Fixed income investments	20	%	40	%
Alternative investments	10	%	30	%
Cash & money market funds	0	%	10	%

Defined Benefit Plan Assets Measured at Fair Value

The Company’s defined benefit plan assets are summarized by level in the following tables:

	As of October 1, 2016
Description	Level 1			Level 2		Level 3		Total		Plan Asset Mix
Cash & money market funds	$	116		$	916	$	—	$	1,032	9	%
Common and preferred stocks(1)	2,238			945		—		3,183		29	%
Mutual funds	636			232		—		868		8	%
Common collective funds	13			558		—		571		5	%
Government and federal agency bonds, notes and MBS	2,114			458		—		2,572		24	%
Corporate bonds	—			577		—		577		5	%
Mortgage- and asset-backed securities	—			86		—		86		1	%
Alternative investments	84			975		1,067		2,126		19	%
Derivatives and other, net	(1		)	1		—		—		—	%
Total	$	5,200		$	4,748	$	1,067	$	11,015	100	%

	As of October 3, 2015
Description	Level 1		Level 2		Level 3		Total		Plan Asset Mix
Cash & money market funds	$	56	$	1,036	$	—	$	1,092	11	%
Common and preferred stocks(1)	2,000		883		—		2,883		29	%
Mutual funds	476		215		—		691		7	%
Common collective funds	13		476		—		489		5	%
Government and federal agency bonds, notes and MBS	1,090		483		—		1,573		16	%
Corporate bonds	—		671		—		671		7	%
Mortgage- and asset-backed securities	—		137		—		137		1	%
Alternative investments	80		952		1,200		2,232		22	%
Derivatives and other, net	212		3		—		215		2	%
Total	$	3,927	$	4,856	$	1,200	$	9,983	100	%

⁽¹⁾  Includes 2.8 million shares of Company common stock valued at $264 million (2% of total plan assets) and 2.8 million shares valued at $290 million (3% of total plan assets) at October 1, 2016 and October 3, 2015, respectively.

Changes in Level 3 Assets

Changes in Level 3 assets are as follows:

	Year Ended
	October 1, 2016			October 3, 2015
Balance, beginning of year	$	1,200		$	1,266
Additions	174			168
Distributions	(300		)	(332		)
Gain / (Loss)	(7		)	98
Balance, end of year	$	1,067		$	1,200

Estimated Future Benefit Payments

The following table presents estimated future benefit payments for the next ten fiscal years:

	Pension Plans		Postretirement Medical Plans(1)
2017	$	470	$	45
2018	469		49
2019	502		53
2020	535		57
2021	567		62
2022 – 2026	3,374		378

⁽¹⁾  Estimated future benefit payments are net of expected Medicare subsidy receipts of $72 million

Long Term Rates of Return by Asset Class

The following long-term rates of return by asset class were considered in setting the long-term rate of return on plan assets assumption:

Equity Securities	7	%	to	11	%
Debt Securities	3	%	to	5	%
Alternative Investments	8	%	to	12	%

One Percentage Point (ppt) Change on Projected Benefit Obligations

A one percentage point (ppt) change in the key assumptions would have the following effects on the projected benefit obligations for pension and postretirement medical plans as of October 1, 2016 and on cost for fiscal 2017:

	Discount Rate						Expected Long-Term Rate of Return On Assets			Assumed Healthcare Cost Trend Rate
Increase/(decrease)	Benefit Expense			Projected Benefit Obligations			Benefit Expense			Net Periodic Postretirement Medical Cost			Projected Benefit Obligations
1 ppt decrease	$	271		$	2,853		$	123		$	(25	)	$	(233	)
1 ppt increase	(235		)	(2,401		)	(123		)	41			287

Contribution into Multiemployer Pension Plans and Health and Welfare Plans

The following table sets forth our contributions to multiemployer pension and health and welfare benefit plans that were expensed during the fiscal years 2016, 2015 and 2014, respectively:

	2016		2015		2014
Pension plans	$	126	$	128	$	115
Health & welfare plans	167		173		158
Total contributions	$	293	$	301	$	273