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EMPLOYEE BENEFIT PLANS (Tables)
 6 Months Ended
Jun. 29, 2024
Retirement Benefits [Abstract]  
Components of Net Periodic Pension Benefit Cost

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

 

 

Second Quarter

 

 

First Half

 

(In millions)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Interest cost

 

$

7

 

 

$

8

 

 

$

14

 

 

$

16

 

Expected return on plan assets

 

 

(7

)

 

 

(8

)

 

 

(14

)

 

 

(17

)

Amortization of gain

 

 

(1

)

 

 

(2

)

 

 

(1

)

 

 

(3

)

Net periodic pension benefit

 

$

(1

)

 

$

(2

)

 

$

(1

)

 

$

(4

)

The components of net periodic pension cost for the Company’s pension plan in the UK are as follows:

 

 

Second Quarter

 

 

First Half

 

(In millions)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Interest cost

 

$

2

 

 

$

1

 

 

$

4

 

 

$

3

 

Expected return on plan assets

 

 

(2

)

 

 

(1

)

 

 

(3

)

 

 

(3

)

Amortization of loss

 

 

1

 

 

 

—

 

 

 

1

 

 

 

—

 

Net periodic pension cost

 

$

1

 

 

$

—

 

 

$

2

 

 

$

—