XML 39 R15.htm IDEA: XBRL DOCUMENT v3.21.2
Pensions and Other Benefit Plans
 9 Months Ended
Oct. 03, 2021
Retirement Benefits [Abstract]  
Pensions and Other Benefit Plans PENSIONS AND OTHER BENEFIT PLANS
Components of Net Periodic Benefit Cost
Net periodic benefit costs for the Company’s defined benefit retirement plans and other benefit plans include the following components:
Fiscal Third Quarter EndedFiscal Nine Months Ended
 Retirement PlansOther Benefit PlansRetirement PlansOther Benefit Plans
(Dollars in Millions)October 3, 2021September 27, 2020October 3, 2021September 27, 2020October 3, 2021September 27, 2020October 3, 2021September 27, 2020
Service cost$339 330 78 72 1,019 979 232 216 
Interest cost192 238 20 33 578 715 61 99 
Expected return on plan assets(661)(617)(1)(2)(1,988)(1,839)(5)(5)
Amortization of prior service cost/(credit)(46)— (8)(7)(136)1 (23)(23)
Recognized actuarial losses314 224 38 36 944 669 113 107 
Curtailments and settlements— — — — 1 19 — — 
Net periodic benefit cost$138 175 127 132 418 544 378 394 

The service cost component of net periodic benefit cost is presented in the same line items on the Consolidated Statement of Earnings where other employee compensation costs are reported. All other components of net periodic benefit cost are presented as part of Other (income) expense, net on the Consolidated Statement of Earnings.

Company Contributions
For the fiscal nine months ended October 3, 2021, the Company contributed $71 million and $232 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.