Quarterly report pursuant to Section 13 or 15(d)

PENSION AND OTHER POSTRETIREMENT BENEFITS

v2.4.0.8
PENSION AND OTHER POSTRETIREMENT BENEFITS
 9 Months Ended
Sep. 29, 2013
Compensation and Retirement Disclosure [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFITS
NOTE 4. PENSION AND OTHER POSTRETIREMENT BENEFITS
 
We sponsor funded and unfunded domestic and foreign defined benefit pension and other postretirement plans. Contributions to these plans were as follows:
 
 
 
Three months ended
 
Nine months ended
In millions
 
September 29,
2013
 
September 30,
2012
 
September 29,
2013
 
September 30,
2012
Defined benefit pension and other postretirement plans
 
 

 
 

 
 

 
 

Voluntary contribution
 
$
33

 
$
34

 
$
110

 
$
107

Mandatory contribution
 
7

 
4

 
51

 
15

Defined benefit pension contributions
 
40

 
38

 
161

 
122

Other postretirement plans
 
11

 
14

 
37

 
31

Total defined benefit plans
 
$
51

 
$
52

 
$
198

 
$
153

 
 
 
 
 
 
 
 
 
Defined contribution pension plans
 
$
14

 
$
15

 
$
50

 
$
59


 
We made $161 million of pension contributions in the nine months ended September 29, 2013 and we anticipate making an additional $9 million of contributions during the remainder of 2013.  We paid $37 million of claims and premiums for other postretirement benefits in the nine months ended September 29, 2013; payments for the remainder of 2013 are expected to be $10 million.  The $170 million of pension contributions for the full year include voluntary contributions of approximately $115 million.  These contributions and payments may be made from trusts or company funds either to increase pension assets or to make direct benefit payments to plan participants.  Our expected pension expense for 2013 was reduced by $10 million, to $87 million, from the amount we had expected at December 31, 2012, due to a remeasurement of the U.S. plan for changes in employee census data in the first quarter of 2013.
 
The components of net periodic pension and other postretirement benefit costs under our plans were as follows:
 
 
 
Pension
 
 
 
 
 
 
U.S. Plans
 
U.K. Plans
 
Other Postretirement Benefits
 
 
Three months ended
In millions
 
September 29,
2013
 
September 30,
2012
 
September 29,
2013
 
September 30,
2012
 
September 29,
2013
 
September 30,
2012
Service cost
 
$
17

 
$
15

 
$
5

 
$
5

 
$
—

 
$
—

Interest cost
 
23

 
25

 
14

 
15

 
4

 
6

Expected return on plan assets
 
(42
)
 
(40
)
 
(17
)
 
(20
)
 
—

 
—

Amortization of prior service credit
 
—

 
—

 
—

 
—

 
—

 
(1
)
Recognized net actuarial loss
 
16

 
12

 
6

 
4

 
2

 
—

Net periodic benefit cost
 
$
14

 
$
12

 
$
8

 
$
4

 
$
6

 
$
5

 
 
 
Pension
 
 
 
 
 
 
U.S. Plans
 
U.K. Plans
 
Other Postretirement Benefits
 
 
Nine months ended
In millions
 
September 29,
2013
 
September 30,
2012
 
September 29,
2013
 
September 30,
2012
 
September 29,
2013
 
September 30,
2012
Service cost
 
$
52

 
$
44

 
$
15

 
$
16

 
$
—

 
$
—

Interest cost
 
70

 
77

 
42

 
44

 
12

 
16

Expected return on plan assets
 
(126
)
 
(118
)
 
(53
)
 
(61
)
 
—

 
—

Amortization of prior service credit
 
—

 
—

 
—

 
—

 
—

 
(3
)
Recognized net actuarial loss
 
47

 
35

 
18

 
11

 
5

 
2

Net periodic benefit cost
 
$
43

 
$
38

 
$
22

 
$
10

 
$
17

 
$
15