XML 41 R14.htm IDEA: XBRL DOCUMENT
v3.19.3

POSTRETIREMENT BENEFIT PLANS | 9 Months Ended
--- | ---
Sep. 29, 2019
Retirement Benefits [Abstract] |
POSTRETIREMENT BENEFIT PLANS | POSTRETIREMENT BENEFIT PLANS Our pretax net periodic benefit cost related to our qualified defined benefit pension plans and retiree medical and life insurance plans consisted of the following (in millions):
|  | Quarters Ended |  | Nine Months Ended
|  | September 29, 2019 |  | September 30, 2018 |  | September 29, 2019 |  | September 30, 2018
Qualified defined benefit pension plans |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 129 |  |  |  | $ | 157 |  |  |  | $ | 387 |  |  |  | $ | 472 |  |
Interest cost |  | 452 |  |  |  | 435 |  |  |  | 1,355 |  |  |  | 1,305 |  |
Expected return on plan assets |  | (575 | ) |  |  | (599 | ) |  |  | (1,725 | ) |  |  | (1,796 | ) |
Recognized net actuarial losses |  | 351 |  |  |  | 444 |  |  |  | 1,053 |  |  |  | 1,332 |  |
Amortization of prior service credits |  | (83 | ) |  |  | (81 | ) |  |  | (250 | ) |  |  | (244 | ) |
Total net periodic benefit cost |  | $ | 274 |  |  |  | $ | 356 |  |  |  | $ | 820 |  |  |  | $ | 1,069 |  |
Retiree medical and life insurance plans |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 4 |  |  |  | $ | 4 |  |  |  | $ | 11 |  |  |  | $ | 13 |  |
Interest cost |  | 25 |  |  |  | 23 |  |  |  | 73 |  |  |  | 69 |  |
Expected return on plan assets |  | (28 | ) |  |  | (34 | ) |  |  | (83 | ) |  |  | (101 | ) |
Recognized net actuarial losses |  | 1 |  |  |  | 2 |  |  |  | 2 |  |  |  | 4 |  |
Amortization of prior service costs |  | 10 |  |  |  | 4 |  |  |  | 31 |  |  |  | 11 |  |
Total net periodic benefit cost (credit) |  | $ | 12 |  |  |  | $ | (1 | ) |  |  | $ | 34 |  |  |  | $ | (4 | ) |
We record the service cost component of net periodic benefit cost as part of cost of sales and the non-service cost components of net periodic benefit cost as part of other non-operating expense, net in the consolidated statements of earnings. The recognized net actuarial losses and amortization of prior service credits or costs in the table above, along with similar costs related to our other postretirement benefit plans ($11 million and $31 million for the quarter and nine months ended September 29, 2019 and $13 million and $42 million for the quarter and nine months ended September 30, 2018) were reclassified from accumulated other comprehensive loss (AOCL) and recorded as a component of net periodic benefit cost for the periods presented. These costs totaled $290 million ($227 million, net of tax) and $867 million ($681 million, net of tax) during the quarter and nine months ended September 29, 2019 and $382 million ($300 million, net of tax) and $1.1 billion ($900 million, net of tax) during the quarter and nine months ended September 30, 2018 and were recorded on our consolidated statements of comprehensive income as an increase to other comprehensive income. The funding of our qualified defined benefit pension plans is determined in accordance with the Employee Retirement Income Security Act of 1974 (ERISA), as amended by the Pension Protection Act of 2006 (PPA), along with consideration of CAS and Internal Revenue Code rules. During the quarter and nine months ended September 29, 2019, there were no contributions to our qualified defined benefit pension plans. During the quarter and nine months ended September 30, 2018, we contributed $1.5 billion and $5.0 billion to our qualified defined benefit pension plans.

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration