Quarterly report pursuant to Section 13 or 15(d)

PENSION AND OTHER POSTRETIREMENT BENEFITS

v3.7.0.1
PENSION AND OTHER POSTRETIREMENT BENEFITS
 6 Months Ended
Jul. 02, 2017
Compensation and Retirement Disclosure [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFITS
NOTE 3. 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
 
Six months ended
In millions
 
July 2,
2017
 
July 3,
2016
 
July 2,
2017
 
July 3,
2016
Defined benefit pension plans
 
 

 
 

 
 

 
 

Voluntary contribution
 
$
41

 
$
37

 
$
84

 
$
85

Mandatory contribution
 
—

 
6

 
—

 
18

Defined benefit pension contributions
 
$
41

 
$
43

 
$
84

 
$
103

 
 
 
 
 
 
 
 
 
Other postretirement plans
 
$
3

 
$
15

 
$
18

 
$
28

 
 
 
 
 
 
 
 
 
Defined contribution pension plans
 
$
19

 
$
14

 
$
48

 
$
35


We anticipate making additional defined benefit pension contributions during the remainder of 2017 of $50 million for our U.S. and U.K. pension plans. Approximately $133 million of the estimated $134 million of pension contributions for the full year are voluntary. 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 2017 net periodic pension cost to approximate $83 million.
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
 
July 2,
2017
 
July 3,
2016
 
July 2,
2017
 
July 3,
2016
 
July 2,
2017
 
July 3,
2016
Service cost
 
$
26

 
$
23

 
$
7

 
$
6

 
$
—

 
$
—

Interest cost
 
27

 
28

 
10

 
13

 
4

 
4

Expected return on plan assets
 
(52
)
 
(51
)
 
(17
)
 
(19
)
 
—

 
—

Recognized net actuarial loss
 
9

 
7

 
10

 
4

 
1

 
2

Net periodic benefit cost
 
$
10

 
$
7

 
$
10

 
$
4

 
$
5

 
$
6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension
 
 
 
 
 
 
U.S. Plans
 
U.K. Plans
 
Other Postretirement Benefits
 
 
Six months ended
In millions
 
July 2,
2017
 
July 3,
2016
 
July 2,
2017
 
July 3,
2016
 
July 2,
2017
 
July 3,
2016
Service cost
 
$
53

 
$
46

 
$
13

 
$
11

 
$
—

 
$
—

Interest cost
 
53

 
56

 
20

 
26

 
7

 
8

Expected return on plan assets
 
(103
)
 
(102
)
 
(34
)
 
(38
)
 
—

 
—

Recognized net actuarial loss
 
18

 
14

 
20

 
8

 
3

 
3

Net periodic benefit cost
 
$
21

 
$
14

 
$
19

 
$
7

 
$
10

 
$
11