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PENSION AND POSTRETIREMENT BENEFITS | 9 Months Ended
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Jul. 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 |  | Nine Months Ended |
|  | July 29 |  | July 30 |  | July 29 |  | July 30 |
|  | 2018 |  | 2017 |  | 2018 |  | 2017 |
Service cost |  | $ | 75 |  | $ | 68 |  | $ | 223 |  | $ | 203 |
Interest cost |  |  | 97 |  |  | 90 |  |  | 292 |  |  | 270 |
Expected return on plan assets |  |  | (193) |  |  | (197) |  |  | (581) |  |  | (591) |
Amortization of actuarial loss |  |  | 53 |  |  | 61 |  |  | 168 |  |  | 182 |
Amortization of prior service cost |  |  | 3 |  |  | 3 |  |  | 9 |  |  | 9 |
Settlements/curtailments |  |  | 1 |  |  | 1 |  |  | 7 |  |  | 2 |
Net cost |  | $ | 36 |  | $ | 26 |  | $ | 118 |  | $ | 75 |
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 |  | Nine Months Ended |
|  | July 29 |  | July 30 |  | July 29 |  | July 30 |
|  | 2018 |  | 2017 |  | 2018 |  | 2017 |
Service cost |  | $ | 11 |  | $ | 11 |  | $ | 33 |  | $ | 32 |
Interest cost |  |  | 47 |  |  | 48 |  |  | 143 |  |  | 146 |
Expected return on plan assets |  |  | (5) |  |  | (4) |  |  | (16) |  |  | (13) |
Amortization of actuarial loss |  |  | 16 |  |  | 25 |  |  | 47 |  |  | 74 |
Amortization of prior service credit |  |  | (19) |  |  | (20) |  |  | (57) |  |  | (58) |
Net cost |  | $ | 50 |  | $ | 60 |  | $ | 150 |  | $ | 181 |
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 other postretirement benefit plans. During the first nine months of 2018, the Company contributed approximately $922 million to its pension plans and $168 million to its other postretirement benefit plans. The contributions included voluntary contributions of $870 million to a U.S. pension plan and $130 million to a U.S. other postretirement benefit plan, which will increase plan assets. The Company presently anticipates contributing an additional $16 million to its pension plans and $2 million to its other postretirement benefit plans during the remainder of fiscal year 2018. The remaining anticipated contributions and those contributions exceeding the voluntary amounts primarily include direct payments from Company funds to plan participants. In the fourth quarter, a committee of the Company’s Board of Directors approved an additional, voluntary contribution to a U.S. other postretirement benefit plan to increase plan assets. The amount of this potential contribution will be based on actual and forecasted operating cash flows, which will be determined in October 2018. The contribution, if any, will be made in October 2018.

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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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