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EMPLOYEE BENEFIT PLANS (Tables)

3 Months Ended

Mar. 30, 2024

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:

		First Quarter
(In millions)		2024				2023
Interest cost		$	7			$	8
Expected return on plan assets			(7	)			(9	)
Amortization of gain			—				(1	)
Net periodic pension benefit		$	—			$	(2	)

The components of net periodic pension benefit for the Company’s pension plan in the United Kingdom (“UK”) are as follows:

		First Quarter
(In millions)		2024				2023
Interest cost		$	2			$	2
Expected return on plan assets			(1	)			(2	)
Net periodic pension benefit		$	1			$	—

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- References

No definition available.

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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

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