Quarterly report pursuant to Section 13 or 15(d)

PENSION AND OTHER POSTRETIREMENT BENEFITS

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PENSION AND OTHER POSTRETIREMENT BENEFITS
 3 Months Ended
Apr. 01, 2012
PENSION AND OTHER POSTRETIREMENT BENEFITS  
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

 

In millions

 

April 1, 2012

 

March 27, 2011

 

Defined benefit pension and other postretirement plans

 

 

 

 

 

Voluntary pension

 

$

38

 

$

35

 

Mandatory pension

 

5

 

6

 

Defined benefit pension contributions

 

43

 

41

 

Other postretirement plans

 

9

 

9

 

Total defined benefit plans

 

$

52

 

$

50

 

 

 

 

 

 

 

Defined contribution pension plans

 

$

27

 

$

24

 

 

We made $43 million of pension contributions in the three month period ended April 1, 2012, and we anticipate making an additional $87 million of contributions during the remainder of 2012. We paid $9 million of claims and premiums for other postretirement benefits in the three month period ended April 1, 2012; payments for the remainder of 2012 are expected to be $42 million. The $130 million of contributions for the full year include voluntary contributions of approximately $109 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.

 

The components of net periodic pension and other postretirement benefit cost under our plans consisted of the following:

 

 

 

Pension

 

 

 

 

 

 

 

U.S. Plans

 

Non-U.S. Plans

 

Other Postretirement Benefits

 

 

 

Three months ended

 

 

 

April 1,

 

March 27,

 

April 1,

 

March 27,

 

April 1,

 

March 27,

 

In millions

 

2012

 

2011

 

2012

 

2011

 

2012

 

2011

 

Service cost

 

$

14

 

$

13

 

$

6

 

$

5

 

$

—

 

$

—

 

Interest cost

 

26

 

27

 

14

 

15

 

5

 

6

 

Expected return on plan assets

 

(39

)

(38

)

(20

)

(18

)

—

 

—

 

Amortization of prior service credit

 

—

 

—

 

—

 

—

 

(1

)

(2

)

Recognized net actuarial loss

 

12

 

10

 

3

 

3

 

1

 

—

 

Net periodic benefit cost

 

$

13

 

$

12

 

$

3

 

$

5

 

$

5

 

$

4