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Retirement Plans (Tables)

6 Months Ended

Jun. 29, 2024

Retirement Benefits [Abstract]

Schedule of Components of Net Periodic Benefit Income

The components of net periodic benefit income for these plans are as follows:

			Three Months Ended						Six Months Ended
(In millions)			June 29, 2024			July 1, 2023			June 29, 2024			July 1, 2023
Pension Benefits
Service cost			$	17		$	16		$	34		$	33
Interest cost			91			91			181			182
Expected return on plan assets			(159)			(153)			(318)			(305)
Amortization of net actuarial loss			1			1			2			1
Amortization of prior service cost			3			3			5			6
Net periodic benefit income*			$	(47)		$	(42)		$	(96)		$	(83)
Postretirement Benefits Other Than Pensions
Service cost			$	1		$	1		$	1		$	1
Interest cost			1			2			$	3		$	4
Amortization of net actuarial gain			(2)			(2)			(4)			(4)
Amortization of prior service credit			(1)			(1)			(1)			(2)
Net periodic benefit income			$	(1)		$	—		$	(1)		$	(1)

* Excludes the cost associated with the defined contribution component, included in certain of our U.S.-based defined benefit pension plans, that totaled $2 million for both the second quarter of 2024 and 2023 and $6 million for both the first half of 2024 and 2023.

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- References

No definition available.

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- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

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