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Pensions and Other Benefit Plans
 9 Months Ended
Sep. 29, 2024
Retirement Benefits [Abstract]  
Pensions and Other Benefit Plans Pensions and other benefit plans
Components of net periodic benefit cost
Net periodic benefit costs for the Company’s defined benefit retirement plans and other benefit plans include the following components:
Fiscal Third Quarter EndedFiscal Nine Months Ended
 Retirement PlansOther Benefit PlansRetirement PlansOther Benefit Plans
(Dollars in Millions)September 29, 2024October 1, 2023September 29, 2024October 1, 2023September 29, 2024October 1, 2023September 29, 2024October 1, 2023
Service cost$2252096961671634207198
Interest cost35136153511,0541,084157160
Expected return on plan assets(643)(680)(2)(1)(1,924)(2,042)(5)(4)
Amortization of prior service cost/(credit)
(46)(47)——(138)(139)(1)(1)
Recognized actuarial (gains)/losses43(50)134130(150)3917
Curtailments and settlements6109—(4)(2)109—(4)
Net periodic benefit cost/(credit)$(64)(98)133111(209)(504)397366
The service cost component of net periodic benefit cost is presented in the same line items on the Consolidated Statement of Earnings where other employee compensation costs are reported, including Cost of products sold, Research and development expense, Selling, marketing and administrative expenses, and in the fiscal third quarter and fiscal nine months of 2023, Net earnings from discontinued operations, net of taxes if related to the separation of Kenvue. All other components of net periodic benefit cost are presented as part of Other (income) expense, net on the Consolidated Statement of Earnings.
Company contributions
For the fiscal nine months ended September 29, 2024, the Company contributed $94 million and $10 million to its U.S. and international retirement plans, respectively. The Company plans to continue to fund its U.S. defined benefit plans to comply with the Pension Protection Act of 2006. International plans are funded in accordance with local regulations.