PENSION AND OTHER POSTRETIREMENT BENEFITS

9 Months Ended

Jul. 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				Nine Months Ended
	July 28		July 30		July 28		July 30
	2024		2023		2024		2023
Pensions:
Service cost	$	56	$	62	$	171	$	186
Interest cost		136		133		410		400
Expected return on plan assets		(241)		(223)		(723)		(655)
Amortization of actuarial gain		(4)		(5)		(13)		(16)
Amortization of prior service cost		9		10		29		30
Settlements		1				2		36
Net benefit	$	(43)	$	(23)	$	(124)	$	(19)

OPEB:
Service cost	$	4	$	7	$	13	$	20
Interest cost		44		44		131		132
Expected return on plan assets		(27)		(29)		(81)		(87)
Amortization of actuarial gain		(14)		(15)		(41)		(45)
Amortization of prior service credit		(1)		(1)		(3)		(2)
Net cost	$	6	$	6	$	19	$	18

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 nine months of 2024, we contributed and expect to contribute the following amounts to our pension and OPEB plans:


	Pensions		OPEB
Contributed	$	74	$	118
Expected contributions remainder of the year		26		22

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details