Pension and Other Postretirement Benefit Plans (Tables)

6 Months Ended

Jun. 26, 2020

Pension and Other Postretirement Benefit Plans

Periodic benefit cost, pension and other postretirement benefit plans

Net periodic benefit cost (income) for our pension and other postretirement benefit plans consisted of the following (in millions):

	Pension Benefit Plans				Other Postretirement Benefit Plans
	Three Months Ended
	June 26, 2020		June 28, 2019		June 26, 2020		June 28, 2019
Service cost	$	28	$	26	$	3	$	3
Interest cost	59		73		5		6
Expected return on plan assets1	(145)		(138)		(4)		(4)
Amortization of prior service credit	—		(1)		—		—
Amortization of net actuarial loss	42		38		1		—
Net periodic benefit cost (income)	$	(16)	$	(2)	$	5	$	5

¹ The weighted-average expected long-term rates of return on plan assets used in computing 2020 net periodic benefit cost (income) are 7.50 percent for pension benefit plans and 4.50 percent for other postretirement benefit plans.

	Pension Benefit Plans				Other Postretirement Benefit Plans
	Six Months Ended
	June 26, 2020		June 28, 2019		June 26, 2020		June 28, 2019
Service cost	$	56	$	52	$	6	$	5
Interest cost	118		145		11		13
Expected return on plan assets1	(292)		(276)		(8)		(7)
Amortization of prior service credit	—		(2)		(1)		(1)
Amortization of net actuarial loss	85		76		2		1
Net periodic benefit cost (income)	$	(33)	$	(5)	$	10	$	11

¹ The weighted-average expected long-term rates of return on plan assets used in computing 2020 net periodic benefit cost (income) are 7.50 percent for pension benefit plans and 4.50 percent for other postretirement benefit plans.