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EMPLOYEE BENEFIT PLANS
9 Months Ended
Sep. 29, 2018
Compensation And Retirement Disclosure [Abstract]  
EMPLOYEE BENEFIT PLANS

NOTE 10. EMPLOYEE BENEFIT PLANS

Pension and Other Postretirement Benefit Plans – North America

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

 

 

 

Third Quarter

 

 

Year-to-Date

 

(In millions)

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Service cost

 

$

1

 

 

$

1

 

 

$

3

 

 

$

4

 

Interest cost

 

 

8

 

 

 

10

 

 

 

26

 

 

 

30

 

Expected return on plan assets

 

 

(11

)

 

 

(12

)

 

 

(32

)

 

 

(36

)

Net periodic pension benefit

 

$

(2

)

 

$

(1

)

 

$

(3

)

 

$

(2

)

 

Year-to-date 2018, $5 million of cash contributions were made to the North America pension plans, which included a $3 million voluntary accelerated contribution to one of the qualified plans to reduce the costs associated with the plan. The Company expects to make additional cash contributions of approximately $1 million to the North America pension plans during the remainder of 2018.

Pension Plan – United Kingdom

As part of the European business sale, the Company retained the United Kingdom (“UK”) defined benefit pension plan. The components of net periodic pension benefit for the Company’s UK pension plan are as follows:

 

 

 

Third Quarter

 

 

Year-to-Date

 

(In millions)

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Service cost

 

$

 

 

$

 

 

$

 

 

$

 

Interest cost

 

 

2

 

 

 

2

 

 

 

5

 

 

 

5

 

Expected return on plan assets

 

 

(2

)

 

 

(3

)

 

 

(6

)

 

 

(9

)

Net periodic pension benefit

 

$

 

 

$

(1

)

 

$

(1

)

 

$

(4

)

 

The UK pension plan is in a net asset position. Year-to-date 2018, cash contributions of $2 million were made to the UK pension plan.

Net periodic pension benefits for the North America and UK pension and other postretirement benefit plans (the “Plans”) are recorded at the corporate level. The service cost for the Plans are reflected in Selling, general and administrative expenses, and the other components of net periodic pension benefits are reflected in Other income, net, in the Condensed Consolidated Statements of Operations.