XML 49 R34.htm IDEA: XBRL DOCUMENT v3.7.0.1
Postretirement Benefit Plans (Tables)
9 Months Ended
Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]  
Components of Net Periodic Benefit Cost
The following tables provide the components of our net periodic benefit income for our defined benefit plans, including defined benefit pension plans and other postretirement defined benefit plans. Net periodic benefit income presented in these tables includes both continuing operations and discontinued operations. For the quarter and three quarters ended March 31, 2017 and April 1, 2016, $1 million and $2 million, respectively, of the service cost component of net period benefit income is included as a component of the “Discontinued operations, net of income taxes” line item in our Condensed Consolidated Statement of Income (Unaudited):
 
 
 
Quarter Ended March 31, 2017
 
Three Quarters Ended March 31, 2017
 
 
Pension
 
Other
Benefits
 
Total
 
Pension
 
Other
Benefits
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In millions)
Net periodic benefit income
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
15

 
$
1

 
$
16

 
$
44

 
$
1

 
$
45

Interest cost
46

 
2

 
48

 
138

 
6

 
144

Expected return on plan assets
(85
)
 
(5
)
 
(90
)
 
(255
)
 
(13
)
 
(268
)
Total net periodic benefit income
$
(24
)
 
$
(2
)
 
$
(26
)
 
$
(73
)
 
$
(6
)
 
$
(79
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended April 1, 2016
 
Three Quarters Ended April 1, 2016
 
 
Pension
 
Other
Benefits
 
Total
 
Pension
 
Other
Benefits
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(In millions)
Net periodic benefit income
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
18

 
$
1

 
$
19

 
$
56

 
$
4

 
$
60

Interest cost
63

 
3

 
66

 
186

 
10

 
196

Expected return on plan assets
(87
)
 
(4
)
 
(91
)
 
(258
)
 
(13
)
 
(271
)
Amortization of net actuarial loss

 

 

 

 
2

 
2

Amortization of prior service cost

 

 

 

 
(7
)
 
(7
)
Net periodic benefit income
$
(6
)
 
$

 
$
(6
)
 
$
(16
)
 
$
(4
)
 
$
(20
)
Effect of curtailments or settlements (1)

 

 

 

 
(121
)
 
(121
)
Total net periodic benefit income
$
(6
)
 
$

 
$
(6
)
 
$
(16
)
 
$
(125
)
 
$
(141
)
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) We discontinued certain significantly underfunded post-employment benefit plans effective December 31, 2015. Under GAAP, this resulted in a negative plan amendment and curtailment during the quarter ended January 1, 2016, a settlement as of December 31, 2015, and a net liability reduction of $101 million.