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Pension and Retiree Medical Benefits (Notes) | 8 Months Ended
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Sep. 09, 2023
Pension and Retiree Medical Benefits [Abstract] |
Pension and Retiree Medical Benefits | Pension and Retiree Medical Benefits In the 12 and 36 weeks ended September 3, 2022, we recognized pre-tax settlement charges of $59 million ($46 million after-tax or $0.03 per share) and $190 million ($147 million after-tax or $0.11 per share), respectively, primarily related to a U.S. qualified defined benefit pension plan due to lump sum distributions to retired or terminated employees. The settlement charge was triggered when the cumulative lump sum distributions exceeded the total annual service and interest cost in 2022. Related plan assets and benefit obligations were remeasured using remeasurement date assumptions. In the 36 weeks ended September 3, 2022, we transferred pension and retiree medical obligations of $145 million and related assets to TBG in connection with the Juice Transaction and, as a result, recognized a pre-tax curtailment gain of $16 million in a U.S. retiree medical plan. The components of net periodic benefit cost/(income) for pension and retiree medical plans are as follows:
| 12 Weeks Ended
| Pension |  | Retiree Medical
| U.S. |  | International |  |
| 9/9/2023 |  | 9/3/2022 |  | 9/9/2023 |  | 9/3/2022 |  | 9/9/2023 |  | 9/3/2022
Service cost | $ | 76 |  |  | $ | 111 |  |  | $ | 10 |  |  | $ | 13 |  |  | $ | 7 |  |  | $ | 8 |
Other pension and retiree medical benefits income: |  |  |  |
Interest cost | 137 |  |  | 111 |  |  | 34 |  |  | 23 |  |  | 7 |  |  | 5 |
Expected return on plan assets | (197) |  |  | (206) |  |  | (45) |  |  | (55) |  |  | (3) |  |  | (4) |
Amortization of prior service credits | (6) |  |  | (6) |  |  | (1) |  |  | (1) |  |  | (1) |  |  | (2) |
Amortization of net losses/(gains) | 16 |  |  | 35 |  |  | 3 |  |  | 8 |  |  | (6) |  |  | (3) |
Settlement/curtailment losses | — |  |  | 59 |  |  | — |  |  | — |  |  | — |  |  | — |
Total other pension and retiree medical benefits income | (50) |  |  | (7) |  |  | (9) |  |  | (25) |  |  | (3) |  |  | (4) |
Total | $ | 26 |  |  | $ | 104 |  |  | $ | 1 |  |  | $ | (12) |  |  | $ | 4 |  |  | $ | 4 |
| 36 Weeks Ended
| Pension |  | Retiree Medical
| U.S. |  | International |  |
| 9/9/2023 |  | 9/3/2022 |  | 9/9/2023 |  | 9/3/2022 |  | 9/9/2023 |  | 9/3/2022
Service cost | $ | 227 |  |  | $ | 340 |  |  | $ | 28 |  |  | $ | 47 |  |  | $ | 20 |  |  | $ | 25 |
Other pension and retiree medical benefits income: |  |  |  |
Interest cost | 411 |  |  | 286 |  |  | 93 |  |  | 63 |  |  | 24 |  |  | 13 |
Expected return on plan assets | (590) |  |  | (637) |  |  | (126) |  |  | (153) |  |  | (9) |  |  | (11) |
Amortization of prior service credits | (18) |  |  | (19) |  |  | (1) |  |  | (1) |  |  | (4) |  |  | (6) |
Amortization of net losses/(gains) | 48 |  |  | 103 |  |  | 8 |  |  | 20 |  |  | (18) |  |  | (9) |
Settlement/curtailment losses/(gains) | — |  |  | 190 |  |  | — |  |  | — |  |  | — |  |  | (16) |
Special termination benefits | (1) |  |  | 9 |  |  | — |  |  | — |  |  | — |  |  | — |
Total other pension and retiree medical benefits income | (150) |  |  | (68) |  |  | (26) |  |  | (71) |  |  | (7) |  |  | (29) |
Total | $ | 77 |  |  | $ | 272 |  |  | $ | 2 |  |  | $ | (24) |  |  | $ | 13 |  |  | $ | (4) |
We regularly evaluate opportunities to reduce risk and volatility associated with our pension and retiree medical plans. In the 36 weeks ended September 9, 2023 and September 3, 2022, we made discretionary contributions of $250 million and $150 million, respectively, to our U.S. qualified defined benefit plans, and $17 million and $10 million, respectively, to our international defined benefit plans.

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