XML 29 R17.htm IDEA: XBRL DOCUMENT
v3.21.1

Defined Benefit Plans | 3 Months Ended
--- | ---
Apr. 02, 2021
Retirement Benefits [Abstract] |
Defined Benefit Plans | DEFINED BENEFIT PLANS The following sets forth the components of the Company’s net periodic benefit (cost) of the noncontributory defined benefit pension plans ($ in millions):
| Three-Month Period Ended |  |
| April 2, 2021 |  | April 3, 2020 |  |  |  |
U.S. pension benefits: |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  |  |  |
Interest cost | (12) |  |  | (17) |  |  |  |  |
Expected return on plan assets | 31 |  |  | 29 |  |  |  |  |
Amortization of actuarial loss | (11) |  |  | (9) |  |  |  |  |
Net periodic pension benefit | $ | 8 |  |  | $ | 3 |  |  |  |  |
Non-U.S. pension benefits: |  |  |  |  |  |  |
Service cost | $ | (11) |  |  | $ | (6) |  |  |  |  |
Interest cost | (5) |  |  | (4) |  |  |  |  |
Expected return on plan assets | 11 |  |  | 9 |  |  |  |  |
Amortization of actuarial loss | (3) |  |  | (2) |  |  |  |  |
Net periodic pension cost | $ | (8) |  |  | $ | (3) |  |  |  |  |
The following sets forth the components of the Company’s net periodic benefit cost of the other postretirement employee benefit plans ($ in millions):
| Three-Month Period Ended |  |
| April 2, 2021 |  | April 3, 2020 |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  |  |  |
Interest cost | (1) |  |  | (1) |  |  |  |  |
Amortization of prior service credit | 1 |  |  | — |  |  |  |  |
Net periodic cost | $ | — |  |  | $ | (1) |  |  |  |  |
The net periodic benefit cost of the noncontributory defined benefit pension plans and other postretirement employee benefit plans incurred during the three-month periods ended April 2, 2021 and April 3, 2020 are reflected in the following captions in the accompanying Consolidated Condensed Statements of Earnings ($ in millions):
| Three-Month Period Ended |  |
| April 2, 2021 |  | April 3, 2020 |  |  |  |
Service cost: |  |  |  |  |  |  |
Cost of sales | $ | (2) |  |  | $ | (1) |  |  |  |  |
Selling, general and administrative expenses | (9) |  |  | (5) |  |  |  |  |
Total service cost | (11) |  |  | (6) |  |  |  |  |
Other n et periodic benefit costs: |  |  |  |  |  |  |
Other income (expense), net | 11 |  |  | 5 |  |  |  |  |
Total expense | $ | — |  |  | $ | (1) |  |  |  |  |
Employer Contributions During 2021, the Company’s cash contribution requirements for its U.S. and non-U.S. defined benefit pension plans are forecasted to be approximately $10 million and $50 million, respectively. The ultimate amounts to be contributed depend upon, among other things, legal requirements, underlying asset returns, the plan’s funded status, the anticipated tax deductibility of the contribution, local practices, market conditions, interest rates and other factors.

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for retirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section S99 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(i) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (o) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (p) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(03) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (q) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (r)(1) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(iii) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (l) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (r)(2) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration