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PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Tables) | 6 Months Ended
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Jun. 28, 2024
Retirement Benefits [Abstract] |
Schedule of Net Benefit Costs | Net periodic benefit cost or income for our pension and other postretirement benefit plans consisted of the following (in millions):
| Pension Plans |  | Other Postretirement Benefit Plans
| Three Months Ended
| June 28, 2024 | June 30, 2023 |  | June 28, 2024 | June 30, 2023
Service cost | $ | 26 |  | $ | 23 |  |  | $ | 1 |  | $ | 1 |
Interest cost | 77 |  | 81 |  |  | 5 |  | 7 |
Expected return on plan assets 1 | (117) |  | (119) |  |  | (2) |  | (3) |
Amortization of prior service cost (credit) | 1 |  | 1 |  |  | (1) |  | (1) |
Amortization of net actuarial loss (gain) | 25 |  | 24 |  |  | (1) |  | (2) |
Net periodic benefit cost (income) | $ | 12 |  | $ | 10 |  |  | $ | 2 |  | $ | 2 |
1 The weighted-average expected long-term rates of return on plan assets used in computing 2024 net periodic benefit cost (income) were 7.00% for pension plans and 4.50% for other postretirement benefit plans.
| Pension Plans |  | Other Postretirement Benefit Plans
| Six Months Ended
| June 28, 2024 | June 30, 2023 |  | June 28, 2024 | June 30, 2023
Service cost | $ | 53 |  | $ | 47 |  |  | $ | 2 |  | $ | 2 |
Interest cost | 154 |  | 162 |  |  | 9 |  | 14 |
Expected return on plan assets 1 | (235) |  | (238) |  |  | (4) |  | (7) |
Amortization of prior service cost (credit) | 1 |  | 1 |  |  | (2) |  | (2) |
Amortization of net actuarial loss (gain) | 51 |  | 48 |  |  | (2) |  | (3) |
Net periodic benefit cost (income) | $ | 24 |  | $ | 20 |  |  | $ | 3 |  | $ | 4 |
1 The weighted-average expected long-term rates of return on plan assets used in computing 2024 net periodic benefit cost (income) were 7.00% for pension plans and 4.50% for other postretirement benefit plans.

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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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