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EMPLOYEE BENEFIT PLANS (Tables) | 6 Months Ended
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Jul. 01, 2023
Retirement Benefits [Abstract] |
Components of Net Periodic Pension Benefit | The components of net periodic pension benefit for the Company’s North America pension plans are as follows:
|  | Second Quarter |  |  | First Half |
(In millions) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Service cost |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost |  |  | 8 |  |  |  | 5 |  |  |  | 16 |  |  |  | 11 |
Expected return on plan assets |  |  | (8 | ) |  |  | (7 | ) |  |  | (17 | ) |  |  | (13 | )
Amortization of gain |  |  | (2 | ) |  |  | — |  |  |  | (3 | ) |  |  | — |
Net periodic pension benefit |  | $ | (2 | ) |  | $ | (2 | ) |  | $ | (4 | ) |  | $ | (2 | )
The components of net periodic pension benefit for the Company’s pension plan in the United Kingdom (“UK”) are as follows:
|  | Second Quarter |  |  | First Half |
(In millions) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Service cost |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost |  |  | 1 |  |  |  | 1 |  |  |  | 3 |  |  |  | 2 |
Expected return on plan assets |  |  | (1 | ) |  |  | (2 | ) |  |  | (3 | ) |  |  | (3 | )
Net periodic pension benefit |  | $ | — |  |  | $ | (1 | ) |  | $ | — |  |  | $ | (1 | )

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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 + Details
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