PENSION AND OTHER POSTRETIREMENT BENEFITS

6 Months Ended

Apr. 30, 2017

PENSION AND OTHER POSTRETIREMENT BENEFITS

PENSION AND OTHER POSTRETIREMENT BENEFITS

(7) The Company has several defined benefit pension plans and defined postretirement health care and life insurance plans covering its U.S. employees and employees in certain foreign countries.

The worldwide components of net periodic pension cost consisted of the following in millions of dollars:


	Three Months Ended				Six Months Ended
	April 30		May 1		April 30		May 1
	2017		2016		2017		2016
Service cost	$	67	$	62	$	135	$	126
Interest cost		90		97		180		195
Expected return on plan assets		(197)		(194)		(394)		(387)
Amortization of actuarial loss		61		52		121		104
Amortization of prior service cost		3		4		6		8
Settlements/curtailments		1		2		1		9
Net cost	$	25	$	23	$	49	$	55

The worldwide components of net periodic postretirement benefits cost (health care and life insurance) consisted of the following in millions of dollars:


	Three Months Ended				Six Months Ended
	April 30		May 1		April 30		May 1
	2017		2016		2017		2016
Service cost	$	11	$	10	$	21	$	19
Interest cost		49		51		98		102
Expected return on plan assets		(5)		(9)		(9)		(18)
Amortization of actuarial loss		24		18		49		37
Amortization of prior service credit		(19)		(20)		(38)		(39)
Net cost	$	60	$	50	$	121	$	101

During the first six months of 2017, the Company contributed approximately $33 million to its pension plans and $19 million to its other postretirement benefit plans. The Company presently anticipates contributing an additional $30 million to its pension plans and $19 million to its other postretirement benefit plans during the remainder of fiscal year 2017. These contributions include payments from Company funds to either increase plan assets or make direct payments to plan participants.