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PENSION PLANS
6 Months Ended
Jun. 28, 2015
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
PENSION PLANS
PENSION PLANS 
The components of net periodic pension cost consist of:
 
 
Three Months Ended
 
Six Months Ended
 
 
June 28,
2015
 
June 29,
2014
 
June 28,
2015
 
June 29,
2014
 
 
(in millions)
 
(in millions)
Service cost
 
$
15.1

 
$
11.7

 
$
30.2

 
$
23.5

Interest cost
 
19.0

 
21.0

 
38.0

 
42.1

Expected return on plan assets
 
(22.1
)
 
(22.1
)
 
(44.2
)
 
(42.9
)
Net amortization
 
1.2

 

 
2.4

 

Net periodic pension cost
 
$
13.2

 
$
10.6

 
$
26.4

 
$
22.7


Remeasurement of Qualified Pension Plans
In June 2015, we made a $200.0 million voluntary contribution to fund our qualified pension plans. We also elected to perform an interim remeasurement of our plan obligations and assets as of June 26, 2015. The discount rate used to determine the pension obligation was 4.8%. All other actuarial assumptions used for the remeasurement were consistent with those used at the end of 2014. The remeasurement resulted in a decrease to the pension obligation of $76.1 million with a corresponding decrease to accumulated other comprehensive loss, net of tax. Net periodic pension cost is expected to be $17.1 million for the second half of 2015.