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PENSION AND OTHER POSTRETIREMENT BENEFITS | 6 Months Ended
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Apr. 28, 2024
PENSION AND OTHER POSTRETIREMENT BENEFITS |
PENSION AND OTHER POSTRETIREMENT BENEFITS | (6) Pension and Other Postretirement Benefits We have several funded and unfunded defined benefit pension plans and other postretirement benefit (OPEB) plans. These plans cover U.S. employees and certain foreign employees. The components of net periodic pension and OPEB (benefit) cost consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended |
​ | ​ | April 28 | ​ | April 30 | ​ | April 28 | ​ | April 30 |
​ | ​ | 2024 | ​ | 2023 | ​ | 2024 | ​ | 2023 |
Pensions: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Service cost |  | $ | 57 |  | $ | 64 |  | $ | 115 |  | $ | 124 | ​
Interest cost | ​ | ​ | 138 | ​ |  | 134 | ​ | ​ | 274 | ​ |  | 267 | ​
Expected return on plan assets | ​ | ​ | (241) | ​ |  | (220) | ​ | ​ | (482) | ​ |  | (432) | ​
Amortization of actuarial gain | ​ | ​ | (5) | ​ |  | (6) | ​ | ​ | (9) | ​ |  | (11) | ​
Amortization of prior service cost | ​ | ​ | 10 | ​ |  | 10 | ​ | ​ | 20 | ​ |  | 20 | ​
Settlements | ​ | ​ | 1 | ​ |  | 36 | ​ | ​ | 1 | ​ |  | 36 | ​
Net (benefit) cost | ​ | $ | (40) | ​ | $ | 18 | ​ | $ | (81) | ​ | $ | 4 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
OPEB: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Service cost |  | $ | 4 |  | $ | 6 |  | $ | 9 |  | $ | 13 | ​
Interest cost | ​ | ​ | 44 | ​ |  | 45 | ​ | ​ | 87 | ​ |  | 88 | ​
Expected return on plan assets | ​ | ​ | (27) | ​ |  | (29) | ​ | ​ | (54) | ​ |  | (58) | ​
Amortization of actuarial gain | ​ | ​ | (11) | ​ |  | (14) | ​ | ​ | (27) | ​ |  | (30) | ​
Amortization of prior service credit | ​ | ​ | (1) | ​ |  | ​ | ​ | ​ | (2) | ​ |  | (1) | ​
Net cost | ​ | $ | 9 | ​ | $ | 8 | ​ | $ | 13 | ​ | $ | 12 | ​
​ The components of net periodic pension and OPEB (benefit) cost excluding the service cost component are included in the line item “Other operating expenses.” During the first six months of 2024, we contributed and expect to contribute the following amounts to our pension and OPEB plans.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Pensions | ​ | OPEB | ​
Contributed |  | $ | 46 |  | $ | 96 |
Expected contributions remainder of the year | ​ | ​ | 39 | ​ |  | 44 | ​
​

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