Pension and Postretirement Benefit Plans

3 Months Ended

Apr. 03, 2022

Retirement Benefits [Abstract]

Pension and Postretirement Benefit Plans

Pension and Postretirement Benefit Plans

The following summarizes the components of net periodic benefit cost/(credit):
	Pension Plans
	U.S.				International				Postretirement Plans
	Three Months Ended
(MILLIONS)	April 3, 2022		April. 4, 2021		April 3, 2022		April. 4, 2021		April 3, 2022		April. 4, 2021
Service cost	$	—	$	—	$	30	$	33	$	7	$	9
Interest cost	118		113		42		36		7		7
Expected return on plan assets	(245)		(261)		(79)		(82)		(12)		(10)
Amortization of prior service credits	—		(1)		—		—		(36)		(39)
Actuarial (gains)/losses(a)	(65)		(47)		—		—		—		—
Curtailments	—		—		—		—		(13)		—
Special termination benefits	6		7		—		—		—		1
Net periodic benefit cost/(credit) reported in income	$	(186)	$	(187)	$	(8)	$	(12)	$	(46)	$	(32)

(a)Mainly reflects interim actuarial remeasurement gains in 2022, primarily due to an increase in the discount rate.

The components of net periodic benefit cost/(credit) other than the service cost component are primarily included in Other (income)/deductions––net (see Note 4).

For the three months ended April 3, 2022, we contributed $112 million, $49 million, and $3 million to our U.S. Pension Plans, International Pension Plans, and Postretirement Plans, respectively, from our general assets, which include direct employer benefit payments.