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Postretirement Benefit Plans | 9 Months Ended
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Oct. 01, 2021
Retirement Benefits [Abstract] |
Postretirement Benefit Plans | Note K — Postretirement Benefit Plans The following tables provide the components of our net periodic benefit income for our defined benefit plans, including defined benefit pension plans and other postretirement defined benefit plans:
| Quarter Ended October 1, 2021 |  | Three Quarters Ended October 1, 2021
(In millions) | Pension |  | Other Benefits |  | Pension |  | Other Benefits
Net periodic benefit income |  |  |  |  |  |  |
Service cost | $ | 16 |  |  | $ | 1 |  |  | $ | 52 |  |  | $ | 2 |
Interest cost | 47 |  |  | 1 |  |  | 139 |  |  | 4 |
Expected return on plan assets | (155) |  |  | (5) |  |  | (467) |  |  | (15) |
Amortization of net actuarial loss | 7 |  |  | — |  |  | 26 |  |  | — |
Amortization of prior service credit (cost) | (7) |  |  | 1 |  |  | (21) |  |  | 1 |
Net loss from curtailments and settlements | 7 |  |  | — |  |  | 4 |  |  | — |
Net periodic benefit income | $ | (85) |  |  | $ | (2) |  |  | $ | (267) |  |  | $ | (8) |
| Quarter Ended October 2, 2020 |  | Three Quarters Ended October 2, 2020
(In millions) | Pension |  | Other Benefits |  | Pension |  | Other Benefits
Net periodic benefit income |  |  |  |  |  |  |
Service cost | $ | 17 |  |  | $ | — |  |  | $ | 49 |  |  | $ | 1 |
Interest cost | 68 |  |  | 3 |  |  | 205 |  |  | 7 |
Expected return on plan assets | (158) |  |  | (5) |  |  | (473) |  |  | (15) |
Amortization of net actuarial loss (gain) | 2 |  |  | (1) |  |  | 7 |  |  | (2) |
Amortization of prior service credit | (7) |  |  | — |  |  | (21) |  |  | — |
Contractual termination cost(1) | — |  |  | — |  |  | 1 |  |  | — |
Net periodic benefit income | $ | (78) |  |  | $ | (3) |  |  | $ | (232) |  |  | $ | (9) |
_______________ (1)For the three quarters ended October 2, 2020, includes contractual termination benefits related to facility rationalization as part of restructuring activities in connection with the L3Harris Merger integration. See Note 4: “Restructuring and Other Exit Costs” in the Notes to Consolidated Financial Statements in our Fiscal 2020 Form 10-K for further information. During the quarter and three quarters ended October 1, 2021, we reduced our pension benefit obligations by purchasing group annuity policies and transferring approximately $81 million and $250 million, respectively, of pension plan assets to an insurance company thereby reducing our defined benefit obligations by approximately $81 million and $250 million, respectively. As a result of the annuity purchases, we recognized pre-tax losses of $7 million and $4 million in the quarter and three quarters ended October 1, 2021, respectively, which are included as a component of the “Non-operating income” line item in our Condensed Consolidated Statement of Income (Unaudited). The service cost component of net periodic benefit income is included in the “Cost of product sales and services” and “Engineering, selling and administrative expenses” line items in our Condensed Consolidated Statement of Income (Unaudited). The non-service cost components of net periodic benefit income are included in the “Non-operating income” line item in our Condensed Consolidated Statement of Income (Unaudited), except for contractual termination benefits which are included in the “Engineering, selling and administrative expenses” line item in our Condensed Consolidated Statement of Income (Unaudited). As a result of prior voluntary contributions, we are not required to make any contributions to these plans during the remainder of fiscal 2021 and for several years thereafter.

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