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Employee Benefits
 6 Months Ended
Jul. 03, 2021
Retirement Benefits [Abstract]  
Employee Benefits Employee benefitsThe Company sponsors a number of U.S. and foreign pension plans as well as other nonpension postretirement and postemployment plans to provide various benefits for its employees. These plans are described within the footnotes to the Consolidated Financial Statements included in the Company’s 2020 Annual Report on Form 10-K. Components of Company benefit plan (income) expense for the periods presented are included in the tables below. Excluding the service cost component, these amounts are included within Other income (expense) in the Consolidated Statement of Income.
Pension
 Quarter endedYear-to-date period ended
(millions)July 3, 2021June 27, 2020July 3, 2021June 27, 2020
Service cost$9 $9 $18 $18 
Interest cost25 33 50 68 
Expected return on plan assets(77)(85)(155)(170)
Amortization of unrecognized prior service cost2 2 4 4 
Recognized net (gain) loss(11)43 (20)57 
Net periodic benefit cost$(52)$2 $(103)$(23)
Curtailment (gain) loss— (7)— (7)
Total pension (income) expense$(52)$(5)$(103)$(30)

Other nonpension postretirement
 Quarter endedYear-to-date period ended
(millions)July 3, 2021June 27, 2020July 3, 2021June 27, 2020
Service cost$3 $4 $6 $7 
Interest cost5 8 10 16 
Expected return on plan assets(23)(23)(46)(46)
Amortization of unrecognized prior service cost(2)(3)(4)(5)
Total postretirement benefit (income) expense$(17)$(14)$(34)$(28)

Postemployment
 Quarter endedYear-to-date period ended
(millions)July 3, 2021June 27, 2020July 3, 2021June 27, 2020
Service cost$1 $1 $2 $2 
Recognized net (gain) loss(1)(1)(2)(2)
Total postemployment benefit expense$— $— $— $— 

For the quarter and year-to-date periods ended July 3, 2021, the Company recognized a gain of $11 million and a gain of $20 million, respectively, related to the remeasurement of certain U.S. pension plans. For the quarter and year-to-date periods ended June 27, 2020, the Company recognized a gain of $6 million and a loss of $8 million, respectively, related to the remeasurement of a U.S. pension plan. These remeasurements were each the result of distributions that exceeded or are expected to exceed service and interest costs resulting in settlement accounting for that particular plan. The amount of the remeasurements recognized were due primarily to changes in the discount rate relative to the previous measurements. For the current quarter remeasurement, the gain was driven by an increase in the discount rate from the prior year-end, partially offset by lower than expected asset returns.

During the second quarter of 2020, the Company recognized a curtailment gain of $7 million, as certain U.S. pension plan benefits were frozen for a portion of the population. The Company remeasured the benefit obligation for the impacted pension plan, resulting in a mark-to-market loss of $49 million. The loss was due primarily to a lower discount rate partially offset by plan asset returns in excess of the expected rate of return.
Company contributions to employee benefit plans are summarized as follows:
(millions)PensionNonpension postretirementTotal
Quarter ended:
July 3, 2021$1 $7 $8 
June 27, 2020$— $6 $6 
Year-to-date period ended:
July 3, 2021$2 $8 $10 
June 27, 2020$3 $9 $12 
Full year:
Fiscal year 2021 (projected)$6 $19 $25 
Fiscal year 2020 (actual)$8 $24 $32 

Plan funding strategies may be modified in response to management's evaluation of tax deductibility, market conditions, and competing investment alternatives.

Multi-employer pension plan exit liability
During the second quarter of 2020, the Company adjusted the estimated withdrawal liability associated with a plan withdrawn from during the third quarter of 2019. The adjustment resulted in a gain of $5 million during the second quarter and resulted from a July 2020 agreement with the plan under which the Company paid $7 million in full settlement of the withdrawal liability.