v3.25.2
RETIREMENT BENEFITS
 6 Months Ended
Jun. 27, 2025
Retirement Benefits [Abstract]  
RETIREMENT BENEFITS
NOTE H: RETIREMENT BENEFITS
The components of net periodic benefit income for our defined benefit pension plans and other postretirement benefit plans (“other benefits”) (collectively, “defined benefit plans”) were as follows:
Second Quarter
20252024
(In millions)PensionOther BenefitsTotalPensionOther BenefitsTotal
Operating
Service cost(1)
$6 $1 $7 $9 $1 $10 
Non-operating
Interest cost77 2 79 98 2 100 
Expected return on plan assets(136)(5)(141)(165)(5)(170)
Amortization of net actuarial gains(2)(4)(6)(1)(5)(6)
Amortization of prior service (credits) costs(6)1 (5)(6)1 (5)
Non-service cost net periodic benefit income(2)
(67)(6)(73)(74)(7)(81)
Net periodic benefit income$(61)$(5)$(66)$(65)$(6)$(71)
Year to Date
20252024
(In millions)PensionOther BenefitsTotalPensionOther BenefitsTotal
Operating
Service cost(1)
$12 $1 $13 $17 $1 $18 
Non-operating
Interest cost165 5 170 197 5 202 
Expected return on plan assets(287)(10)(297)(330)(10)(340)
Amortization of net actuarial gains(3)(7)(10)(2)(9)(11)
Amortization of prior service (credits) costs(13)1 (12)(13)1 (12)
Effect of settlements(14)— (14)— — — 
Non-service cost net periodic benefit income(2)
(152)(11)(163)(148)(13)(161)
Net periodic benefit income$(140)$(10)$(150)$(131)$(12)$(143)
______________
(1)Included in the “Cost of revenue” and “General and administrative expenses” line items in our Condensed Consolidated Statement of Operations.
(2)Included in the “Non-service FAS pension income and other, net” line item in our Condensed Consolidated Statement of Operations.

Pension Group Annuity Purchase
In first quarter 2025, we executed nonparticipating single premium group annuity contracts to transfer $1.2 billion of our Consolidated Pension Plan benefit obligation to an insurance provider. For additional information, see the “Pension Group Annuity Purchase” heading in Note H: Retirement Benefits in our Form 10-Q for first quarter 2025