Quarterly report pursuant to Section 13 or 15(d)

PENSION AND OTHER POSTRETIREMENT BENEFITS

v3.22.2
PENSION AND OTHER POSTRETIREMENT BENEFITS
 6 Months Ended
Jun. 30, 2022
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 30,
2022		 July 4,
2021		 June 30,
2022		 July 4,
2021
Defined benefit pension contributions $ 6  $ 12  $ 39  $ 54 
OPEB payments, net 6  5  16  14 
Defined contribution pension plans 20  17  56  52 
We anticipate making additional defined benefit pension contributions during the remainder of 2022 of $10 million for our U.S. and U.K. qualified and non-qualified pension 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 2022 annual net periodic pension cost to approximate $31 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 30,
2022		 July 4,
2021		 June 30,
2022		 July 4,
2021		 June 30,
2022		 July 4,
2021
Service cost $ 34  $ 35  $ 8  $ 9  $ —  $ — 
Interest cost 22  20  9  7  1  1 
Expected return on plan assets (52) (50) (20) (22) —  — 
Amortization of prior service cost —  —  —  1  —  — 
Recognized net actuarial loss 6  12  —  8  —  — 
Net periodic benefit cost (credit) $ 10  $ 17  $ (3) $ 3  $ 1  $ 1 
  Pension    
  U.S. Plans U.K. Plans OPEB
  Six months ended
In millions June 30,
2022		 July 4,
2021		 June 30,
2022		 July 4,
2021		 June 30,
2022		 July 4,
2021
Service cost $ 68  $ 70  $ 16  $ 17  $ —  $ — 
Interest cost 44  39  18  15  2  2 
Expected return on plan assets (104) (100) (40) (43) —  — 
Amortization of prior service cost —  —  —  1  —  — 
Recognized net actuarial loss 12  24  1  16  —  — 
Net periodic benefit cost (credit) $ 20  $ 33  $ (5) $ 6  $ 2  $ 2