Pension and Postretirement Benefit Plans (Tables)

3 Months Ended

Apr. 01, 2012

Schedule of Net Periodic Benefit Costs

The components of net periodic benefit costs follow:

	Pension Plans
	U.S. Qualified(a)						U.S. Supplemental (Non-Qualified)(b)						International(c)						Postretirement Plans
(millions of dollars)	April 1, 2012			April 3, 2011			April 1, 2012			April 3, 2011			April 1, 2012			April 3, 2011			April 1, 2012			April 3, 2011
Three Months Ended:
Service cost	$	96		$	90		$	10		$	9		$	55		$	62		$	18		$	17
Interest cost		183			185			17			19			103			111			46			49
Expected return on plan assets		(245	)		(221	)		––			––			(108	)		(109	)		(9	)		(9	)
Amortization of:
Actuarial losses		80			35			11			9			18			21			8			4
Prior service credits		(3	)		(2	)		(1	)		(1	)		(2	)		(1	)		(12	)		(14	)
Curtailments and settlements––net		44			17			13			12			(10	)		(2	)		(11	)		(6	)
Special termination benefits		5			5			10			7			2			3			2			––
Net periodic benefit costs	$	160		$	109		$	60		$	55		$	58		$	85		$	42		$	41

(a)	The increase in net periodic benefit costs in the first three months of 2012, compared to the first three months of 2011, for our U.S. qualified plans was primarily driven by a decrease in the discount rate and lower than expected actual returns during 2011 and higher settlement charges associated with ongoing restructuring initiatives.
	The increase in net periodic benefit costs in the first three months of 2012, compared to the first three months of 2011, for our U.S. supplemental (non-qualified) pension plans was primarily driven by higher special termination benefits.
(b)	The decrease in net periodic benefit costs in the first three months of 2012, compared to the first three months of 2011, for our international pension plans was primarily driven by changes in assumptions in our U.K. plans in 2011 and higher curtailment gains associated with ongoing restructuring initiatives.