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Pension and postretirement benefits
 9 Months Ended
Sep. 28, 2024
Retirement Benefits [Abstract]  
Pension and postretirement benefits Pension and postretirement benefits
The Company sponsors a pension plan in the United States and several plans in the United States and Canada that provide health care and other welfare benefits to retired employees who have met certain age and service requirements. These plans are described within the Notes to the Consolidated Financial Statements included in the 2023 Annual Report. Components of Company benefit plans (income) expense for the periods presented are included in the tables below. Excluding the service cost component, these amounts are included within OIE in the Unaudited Consolidated Statement of Income.
For the quarter and year-to-date period ended September 28, 2024, the Company recorded a $3 million loss on pension curtailment charges reflecting higher net prior service costs driven by restructuring plans discussed in Note 4. The curtailment loss, as well as the recognized (gain) loss, net from remeasurement, was recognized within OIE in the Company's Unaudited Consolidated Statement of Income.
The following tables present the pension expense and nonpension postretirement income directly attributable to the Company for the quarter and year-to-date period ended September 28, 2024:
Pension
 Quarter endedYear-to-date period ended
(millions)September 28, 2024September 28, 2024
Service cost$2 $6 
Interest cost7 21 
Expected return on plan assets(9)(27)
Amortization of unrecognized prior service cost1 3 
Recognized (gain) loss, net3 3 
Curtailment (gain) loss, net3 3 
Total pension expense$7 $9 
Other nonpension postretirement
 Quarter endedYear-to-date period ended
(millions)September 28, 2024September 28, 2024
Service cost$1 $3 
Interest cost6 18 
Expected return on plan assets(15)(45)
Amortization of unrecognized prior service cost(2)(6)
Total postretirement benefit income$(10)$(30)
The following table summarizes the expenses that were allocated to the Company's plans prior to the Spin-Off:
Quarter endedYear-to-date period ended
(millions)September 30, 2023September 30, 2023
Pension plans:
   Direct planNet periodic benefit cost$1 $1 
   Shared plans (multiemployer)Cost allocation - COGS1 5 
Cost allocation - OIE10 10 
Total pension expense$12 $16 
Nonpension postretirement plans:
   Direct planNet periodic benefit income$(6)$(6)
   Shared plans (multiemployer)Cost allocation - COGS1 3 
Cost allocation - OIE(44)(65)
Total postretirement benefit (income)/expense$(37)$(52)
Pension
The components of net periodic benefit costs for the direct pension plans are:
 Quarter endedYear-to-date period ended
(millions)September 30, 2023September 30, 2023
Service cost$1 $1 
Interest cost3 3 
Expected return on plan assets(3)(3)
Amortization of unrecognized prior service cost— — 
Remeasurement (gain)/loss— — 
Total pension expense$1 $1 
Postretirement
The components of net periodic benefit costs for the direct nonpension postretirement plans are:
 Quarter endedYear-to-date period ended
(millions)September 30, 2023September 30, 2023
Service cost$1 $1 
Interest cost4 4 
Expected return on plan assets(10)(10)
Amortization of unrecognized prior service cost(1)(1)
Remeasurement (gain)/loss— — 
Total postretirement benefit income$(6)$(6)

Company contributions to employee benefit plans are summarized as follows:
(millions)PensionNonpension postretirementTotal
Quarter ended:
September 28, 2024$7 $— $7 
September 30, 2023$— $— $— 
Year-to-date period ended:
September 28, 2024$17 $— $17 
September 30, 2023$1 $— $1 
Full year:
Fiscal year 2024 (projected) (a)
$24 $— $24 
Fiscal year 2023 (actual)$— $— $— 
(a)Projected 2024 amounts have been corrected from $0 million as previously disclosed in our 2023 Annual Report to $24 million.
Plan funding strategies may be modified in response to management's evaluation of tax deductibility, market conditions, and competing investment alternatives.