XML 29 R18.htm IDEA: XBRL DOCUMENT
v3.19.2

Employee Benefits | 6 Months Ended
--- | ---
Jun. 29, 2019
Retirement Benefits [Abstract] |
Employee Benefits | Employee benefits The Company sponsors a number of U.S. and foreign pension plans as well as other nonpension postretirement and postemployment plans to provide various benefits for its employees. These plans are described within the footnotes to the Consolidated Financial Statements included in the Company’s 2018 Annual Report on Form 10-K. Components of Company plan benefit expense for the periods presented are included in the tables below. Pension
| Quarter ended |  | Year-to-date period ended
(millions) | June 29, 2019 | June 30, 2018 |  | June 29, 2019 | June 30, 2018
Service cost | $ | 9 |  | $ | 22 |  |  | $ | 18 |  | $ | 44 |
Interest cost | 44 |  | 41 |  |  | 89 |  | 83 |
Expected return on plan assets | (83 | ) | (90 | ) |  | (168 | ) | (182 | )
Amortization of unrecognized prior service cost | 2 |  | 2 |  |  | 4 |  | 4 |
Recognized net (gain) loss | 10 |  | (2 | ) |  | 11 |  | (11 | )
Net periodic benefit cost | $ | (18 | ) | $ | (27 | ) |  | $ | (46 | ) | $ | (62 | )
Other nonpension postretirement
| Quarter ended |  | Year-to-date period ended
(millions) | June 29, 2019 | June 30, 2018 |  | June 29, 2019 | June 30, 2018
Service cost | $ | 4 |  | $ | 4 |  |  | $ | 7 |  | $ | 9 |
Interest cost | 10 |  | 9 |  |  | 20 |  | 18 |
Expected return on plan assets | (21 | ) | (23 | ) |  | (42 | ) | (47 | )
Amortization of unrecognized prior service (gain) | (2 | ) | (2 | ) |  | (4 | ) | (4 | )
Total postretirement benefit (income) expense | $ | (9 | ) | $ | (12 | ) |  | $ | (19 | ) | $ | (24 | )
Postemployment
| Quarter ended |  | Year-to-date period ended
(millions) | June 29, 2019 | June 30, 2018 |  | June 29, 2019 | June 30, 2018
Service cost | $ | 1 |  | $ | 1 |  |  | $ | 2 |  | $ | 2 |
Interest cost | 1 |  | — |  |  | 1 |  | — |
Recognized net (gain) loss | (1 | ) | (1 | ) |  | (2 | ) | (2 | )
Total postemployment benefit expense | $ | 1 |  | $ | — |  |  | $ | 1 |  | $ | — |
For the year-to-date period ended June 29, 2019, the Company recognized a loss of $11 million related to the remeasurement of a U.S. pension plan as current year distributions are expected to exceed service and interest costs resulting in settlement accounting for that particular plan. The amount of the remeasurement loss recognized was due primarily to an unfavorable change in the discount rate. Company contributions to employee benefit plans are summarized as follows:
(millions) | Pension | Nonpension postretirement | Total
Quarter ended: |  |  |
June 29, 2019 | $ | 3 |  | $ | 4 |  | $ | 7 |
June 30, 2018 | $ | 251 |  | $ | 4 |  | $ | 255 |
Year-to-date period ended: |  |  |
June 29, 2019 | $ | 4 |  | $ | 8 |  | $ | 12 |
June 30, 2018 | $ | 266 |  | $ | 8 |  | $ | 274 |
Full year: |  |  |
Fiscal year 2019 (projected) | $ | 7 |  | $ | 18 |  | $ | 25 |
Fiscal year 2018 (actual) | $ | 270 |  | $ | 17 |  | $ | 287 |
Prior year contributions included $250 million of pre-tax discretionary contributions to U.S. plans in the second quarter of 2018 designated for the 2017 tax year. Plan funding strategies may be modified in response to management's evaluation of tax deductibility, market conditions, and competing investment alternatives.

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