Quarterly report pursuant to Section 13 or 15(d)

PENSION AND OTHER POSTRETIREMENT BENEFITS

v3.20.2
PENSION AND OTHER POSTRETIREMENT BENEFITS
 6 Months Ended
Jun. 28, 2020
Retirement Benefits [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFITS
NOTE 4. PENSIONS AND OTHER POSTRETIREMENT BENEFITS
We sponsor funded and unfunded domestic and foreign defined benefit pension and other postretirement benefit (OPEB) plans. Contributions to these plans were as follows:
  Three months ended Six months ended
In millions June 28,
2020		 June 30,
2019		 June 28,
2020		 June 30,
2019
Defined benefit pension contributions $ 10    $ 44    $ 66    $ 77   
OPEB payments, net 12    1    16    15   
Defined contribution pension plans 18    18    52    57   
During the remainder of 2020, we anticipate making $13 million in additional defined benefit pension contributions in the U.K. and $12 million in contributions to our U.S. non-qualified benefit plans. These contributions may be made from trusts or company funds either to increase pension assets or to make direct benefit payments to plan participants. We expect our 2020 annual net periodic pension cost to approximate $102 million.
The components of net periodic pension and OPEB costs under our plans were as follows:
  Pension    
  U.S. Plans U.K. Plans OPEB
  Three months ended
In millions June 28,
2020		 June 30,
2019		 June 28,
2020		 June 30,
2019		 June 28,
2020		 June 30,
2019
Service cost $ 33    $ 29    $ 7    $ 6    $ —    $ —   
Interest cost 23    27    9    11    1    3   
Expected return on plan assets (48)   (48)   (18)   (18)   —    —   
Amortization of prior service cost 1    1    —    1    —    —   
Recognized net actuarial loss 10    4    9    3    —    —   
Net periodic benefit cost $ 19    $ 13    $ 7    $ 3    $ 1    $ 3   

  Pension    
  U.S. Plans U.K. Plans OPEB
  Six months ended
In millions June 28,
2020		 June 30,
2019		 June 28,
2020		 June 30,
2019		 June 28,
2020		 June 30,
2019
Service cost $ 67    $ 58    $ 14    $ 13    $ —    $ —   
Interest cost 47    54    18    22    3    5   
Expected return on plan assets (97)   (95)   (37)   (36)   —    —   
Amortization of prior service cost 1    1    1    1    —    —   
Recognized net actuarial loss 20    8    17    6    —    —   
Net periodic benefit cost $ 38    $ 26    $ 13    $ 6    $ 3    $ 5