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EMPLOYEE BENEFIT PLANS
 3 Months Ended
Mar. 26, 2016
EMPLOYEE BENEFIT PLANS

NOTE 8. EMPLOYEE BENEFIT PLANS

Pension and Other Postretirement Benefit Plans – North America

The components of net periodic pension benefit for the Company’s North American pension plans are as follows:

 

     First Quarter  
In millions)    2016      2015  

Service cost

    $ 2       $ 1   

Interest cost

      11         11   

Expected return on plan assets

      (14 )       (14 ) 
  

 

 

     

 

 

  

Net periodic pension benefit

    $ (1 )     $ (2 ) 
  

 

 

     

 

 

  

In the first quarter 2016, cash contributions to the North American pension plans were not significant. The Company expects to make additional cash contributions of $2 million to the North American pension plans in 2016.

 

Pension Plan – Europe

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

 

     First Quarter  
(In millions)    2016      2015  

Service cost

    $ —         $ —     

Interest cost

      2         2   

Expected return on plan assets

      (3 )       (3 ) 
  

 

 

     

 

 

  

Net periodic pension benefit

    $ (1 )     $ (1 ) 
  

 

 

     

 

 

  

The Company’s European pension plan is in a net asset position. There are no funding requirements while this plan has an asset surplus.

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