Pensions and Other Postretirement Benefits

9 Months Ended

Sep. 27, 2015

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure

PENSIONS AND OTHER POSTRETIREMENT BENEFITS

Components of Net Periodic Benefit Cost

Net periodic benefit cost for the Company’s defined benefit retirement plans and other benefit plans for the fiscal third quarters of 2015 and 2014 include the following components:



	Fiscal Third Quarters Ended
	Retirement Plans					Other Benefit Plans
(Dollars in Millions)	September 27, 2015			September 28, 2014		September 27, 2015		September 28, 2014
Service cost	$	247		197		64		52
Interest cost	246			255		46		50
Expected return on plan assets	(451		)	(403	)	(2	)	(2	)
Amortization of prior service cost/(credit)	—			1		(8	)	(8	)
Recognized actuarial losses	186			115		50		33
Curtailments and settlements	—			(11	)	—		—
Net periodic benefit cost	$	228		154		150		125

Net periodic benefit cost for the Company’s defined benefit retirement plans and other benefit plans for the fiscal nine months of 2015 and 2014 include the following components:




	Fiscal Nine Months Ended
	Retirement Plans					Other Benefit Plans
(Dollars in Millions)	September 27, 2015			September 28, 2014		September 27, 2015		September 28, 2014
Service cost	$	744		594		193		158
Interest cost	743			768		139		149
Expected return on plan assets	(1,361		)	(1,212	)	(5	)	(5	)
Amortization of prior service cost/(credit)	1			4		(25	)	(25	)
Recognized actuarial losses	560			346		150		101
Curtailments and settlements	4			(11	)	—		—
Net periodic benefit cost	$	691		489		452		378

Company Contributions

For the fiscal nine months ended September 27, 2015, the Company contributed $316 million and $23 million to its U.S. and international retirement plans, respectively. The Company plans to continue to fund its U.S. defined benefit plans to comply with the Pension Protection Act of 2006. International plans are funded in accordance with local regulations.