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PENSION AND POSTRETIREMENT BENEFITS | 6 Months Ended
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Apr. 29, 2018
PENSION AND POSTRETIREMENT BENEFITS |
PENSION AND POSTRETIREMENT BENEFITS | (7) The Company has several defined benefit pension plans and defined postretirement health care and life insurance plans covering many of 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 29 |  | April 30 |  | April 29 |  | April 30 |
|  | 2018 |  | 2017 |  | 2018 |  | 2017 |
Service cost |  | $ | 76 |  | $ | 67 |  | $ | 148 |  | $ | 135 |
Interest cost |  |  | 97 |  |  | 90 |  |  | 195 |  |  | 180 |
Expected return on plan assets |  |  | (194) |  |  | (197) |  |  | (388) |  |  | (394) |
Amortization of actuarial loss |  |  | 54 |  |  | 61 |  |  | 115 |  |  | 121 |
Amortization of prior service cost |  |  | 3 |  |  | 3 |  |  | 6 |  |  | 6 |
Settlements/curtailments |  |  | 6 |  |  | 1 |  |  | 6 |  |  | 1 |
Net cost |  | $ | 42 |  | $ | 25 |  | $ | 82 |  | $ | 49 |
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 29 |  | April 30 |  | April 29 |  | April 30 |
|  | 2018 |  | 2017 |  | 2018 |  | 2017 |
Service cost |  | $ | 11 |  | $ | 11 |  | $ | 22 |  | $ | 21 |
Interest cost |  |  | 48 |  |  | 49 |  |  | 96 |  |  | 98 |
Expected return on plan assets |  |  | (6) |  |  | (5) |  |  | (11) |  |  | (9) |
Amortization of actuarial loss |  |  | 15 |  |  | 24 |  |  | 31 |  |  | 49 |
Amortization of prior service credit |  |  | (19) |  |  | (19) |  |  | (38) |  |  | (38) |
Net cost |  | $ | 49 |  | $ | 60 |  | $ | 100 |  | $ | 121 |
The components of net periodic pension and postretirement benefits cost excluding the service cost component are included in the line item other operating expenses in the Statement of Consolidated Income. In the second quarter, a committee of the Company’s Board of Directors approved a voluntary $1,000 million contribution to its U.S. pension and postretirement benefit plans. During the first six months of 2018, the Company contributed approximately $86 million to its pension plans, which included a $50 million voluntary contribution to a U.S. plan, and $31 million to its other postretirement benefit plans. The Company presently anticipates contributing an additional $851 million to its pension plans and $138 million to its other postretirement benefit plans during the remainder of fiscal year 2018. The anticipated total contributions include voluntary contributions of $820 million to a U.S. pension plan and $130 million to a U.S. postretirement benefit plan, which will increase plan assets. The other contributions primarily include payments from Company funds to make direct payments to plan participants.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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