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EMPLOYEE BENEFIT PLANS
3 Months Ended
Mar. 29, 2014
EMPLOYEE BENEFIT PLANS

NOTE 9. EMPLOYEE BENEFIT PLANS

Pension and Other Postemployment Benefit Plans – North America

The components of net periodic pension (benefit) cost for the Company’s North American pension and other postemployment plans are as follows:

 

     First Quarter
2014
 
(In millions)    Pension
Benefits
    Other
Benefits
 

Service cost

   $ 1      $  —     

Interest cost

     13        —     

Expected return on plan assets

     (15     —     
  

 

 

   

 

 

 

Net periodic pension benefit

   $ (1   $      
  

 

 

   

 

 

 

In the first quarter of 2014, $1 million cash contribution was made to the North American pension and other postemployment plans. Of the $49 million additional cash contribution expected to be made by the Company to the North American pension and other postemployment plans in 2014, $37 million was contributed in April 2014.

Pension Plan – Europe

The components of net periodic pension benefit for the Company’s foreign pension plan are as follows:

 

     First Quarter  
(In millions)    2014     2013  

Service cost

   $  —        $  —     

Interest cost

     3        2   

Expected return on plan assets

     (4     (3
  

 

 

   

 

 

 

Net periodic pension benefit

   $ (1   $ (1
  

 

 

   

 

 

 

The plan is in a net asset position. There are no funding requirements while the plan has an asset surplus.

Net periodic pension benefits for the North American and European pension and other postemployment benefit plans are recorded in Selling, general and administrative expenses in the Condensed Consolidated Statement of Operations.