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PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Tables)

9 Months Ended

Sep. 27, 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
			September 27, 2024			September 29, 2023						September 27, 2024			September 29, 2023
Service cost			$	26		$	24					$	1		$	1
Interest cost			77			80						3			6
Expected return on plan assets1			(118)			(119)						(1)			(3)
Amortization of prior service cost (credit)			—			—						(1)			—
Amortization of net actuarial loss (gain)			26			24						(1)			(1)
Settlement loss (gain)			—			—						(19)			—
Net periodic benefit cost (income)			$	11		$	9					$	(18)		$	3

1The 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
			Nine Months Ended
			September 27, 2024			September 29, 2023						September 27, 2024			September 29, 2023
Service cost			$	79		$	71					$	3		$	3
Interest cost			231			242						12			20
Expected return on plan assets1			(353)			(357)						(5)			(10)
Amortization of prior service cost (credit)			1			1						(3)			(2)
Amortization of net actuarial loss (gain)			77			72						(3)			(4)
Settlement loss (gain)			—			—						(19)			—
Net periodic benefit cost (income)			$	35		$	29					$	(15)		$	7

1The 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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- References

No definition available.

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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

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