Retirement Plans

6 Months Ended

Jul. 03, 2021

Retirement Benefits [Abstract]

Retirement Plans

RETIREMENT PLANS

The Company sponsors a defined benefit pension plan and a 401(k) plan for eligible employees, and provides certain postretirement health and welfare benefits to eligible retirees and their dependents. During fiscal year 2020, in connection with the Smart Foodservice acquisition, the Company assumed a defined benefit pension plan with net liabilities of approximately $19 million. This defined benefit plan was merged into the US Foods Consolidated Defined Benefit Retirement Plan as of December 31, 2020.

The components of net periodic pension benefit credits for Company sponsored defined benefit plans were as follows:

	13 Weeks Ended				26 Weeks Ended
	July 3, 2021		June 27, 2020		July 3, 2021		June 27, 2020
Components of net periodic pension benefit credits
Service cost	$	1	$	—	$	2	$	1
Interest cost	7		8		14		15
Expected return on plan assets	(13)		(13)		(27)		(26)
Amortization of net loss	—		1		—		1
Net periodic pension benefit credits	$	(5)	$	(4)	$	(11)	$	(9)

Other postretirement benefit costs were de minimis for both the 13 weeks and 26 weeks ended July 3, 2021 and June 27, 2020.

The service cost component of net periodic benefit credits is included in distribution, selling and administrative costs, while the other components of net periodic benefit credits are included in other income—net, respectively, in the Company's Consolidated Statements of Comprehensive Income.

The Company does not expect to make significant contributions to its defined benefit pension plan in fiscal year 2021.

Certain employees are eligible to participate in the Company's 401(k) plan. The Company made employer matching contributions to the 401(k) plan of $13 million and $9 million for the 13 weeks ended July 3, 2021 and June 27, 2020, respectively, and $26 million and $23 million for the 26 weeks ended July 3, 2021 and June 27, 2020, respectively.

The Company is also required to contribute to various multiemployer pension plans under the terms of collective bargaining agreements that cover certain of its union-represented employees. The Company’s contributions to these plans were $12 million and $10 million for the 13 weeks ended July 3, 2021 and June 27, 2020, respectively, and $22 million for the 26 weeks ended July 3, 2021 and June 27, 2020, respectively.