Quarterly report pursuant to Section 13 or 15(d)

PENSION AND OTHER POSTRETIREMENT BENEFITS

v3.21.2
PENSION AND OTHER POSTRETIREMENT BENEFITS
 6 Months Ended
Jul. 04, 2021
Retirement Benefits [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFITS
NOTE 3. 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 July 4,
2021		 June 28,
2020		 July 4,
2021		 June 28,
2020
Defined benefit pension contributions $ 12  $ 10  $ 54  $ 66 
OPEB payments, net 5  12  14  16 
Defined contribution pension plans 17  18  52  52 
During the remainder of 2021, we anticipate making $10 million in additional defined benefit pension contributions in the U.K. and $9 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 2021 annual net periodic pension cost to approximate $79 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 July 4,
2021		 June 28,
2020		 July 4,
2021		 June 28,
2020		 July 4,
2021		 June 28,
2020
Service cost $ 35  $ 33  $ 9  $ 7  $ —  $ — 
Interest cost 20  23  7  9  1  1 
Expected return on plan assets (50) (48) (22) (18) —  — 
Amortization of prior service cost —  1  1  —  —  — 
Recognized net actuarial loss 12  10  8  9  —  — 
Net periodic benefit cost $ 17  $ 19  $ 3  $ 7  $ 1  $ 1 
  Pension    
  U.S. Plans U.K. Plans OPEB
  Six months ended
In millions July 4,
2021		 June 28,
2020		 July 4,
2021		 June 28,
2020		 July 4,
2021		 June 28,
2020
Service cost $ 70  $ 67  $ 17  $ 14  $ —  $ — 
Interest cost 39  47  15  18  2  3 
Expected return on plan assets (100) (97) (43) (37) —  — 
Amortization of prior service cost —  1  1  1  —  — 
Recognized net actuarial loss 24  20  16  17  —  — 
Net periodic benefit cost $ 33  $ 38  $ 6  $ 13  $ 2  $ 3