v3.26.1
Postemployment Benefits (Notes)
 3 Months Ended
Mar. 28, 2026
Retirement Benefits [Abstract]  
Postemployment Benefits Postemployment Benefits
See our consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 27, 2025 for additional information on our postemployment-related accounting policies.
Pension Plans
Components of Net Pension Cost/(Benefit):
Net pension cost/(benefit) consisted of the following (in millions):
For the Three Months Ended
U.S. PlansNon-U.S. Plans
March 28, 2026March 29, 2025March 28, 2026March 29, 2025
Service cost$— $— $1 $1 
Interest cost27 33 14 14 
Expected return on plan assets(44)(49)(19)(21)
Amortization of prior service costs/(credits)— — 1 1 
Amortization of unrecognized losses/(gains)— — 3 3 
Net pension cost/(benefit)$(17)$(16)$— $(2)
We present all non-service cost components of net pension cost/(benefit) within other expense/(income) on our condensed consolidated statements of income.
Employer Contributions:
Related to our non-U.S. pension plans, we contributed $1 million during the three months ended March 28, 2026 and $1 million during the three months ended March 29, 2025. We plan to make further contributions of approximately $5 million during the remainder of 2026. We did not contribute to our U.S. pension plans during the three months ended March 28, 2026 or March 29, 2025 and do not plan to make contributions during the remainder of 2026. Estimated future contributions take into consideration current economic conditions, which at this time are expected to have minimal impact on expected contributions for the remainder of 2026. Our actual contributions and plans may change due to many factors, including changes in tax, employee benefit, or other laws and regulations, tax deductibility, significant differences between expected and actual pension asset performance or interest rates, or other factors.
Postretirement Plans
Components of Net Postretirement Cost/(Benefit):
Net postretirement cost/(benefit) consisted of the following (in millions):
For the Three Months Ended
March 28, 2026March 29, 2025
Service cost$— $1 
Interest cost6 7 
Expected return on plan assets(8)(12)
Amortization of prior service costs/(credits)(3)(3)
Amortization of unrecognized losses/(gains)(6)(6)
Settlements(a)
(45)— 
Net postretirement cost/(benefit)$(56)$(13)
(a) Settlements represent a $45 million settlement of our U.S. Retiree Life Insurance Plan
During the first quarter of 2026, we recognized a non-cash benefit of $45 million related to the settlement of our U.S. Retiree Life Insurance Plan. We present all non-service cost components of net postretirement cost/(benefit) within other expense/(income) on our condensed consolidated statements of income.
Employer Contributions:
Related to our postretirement benefit plans, we contributed $3 million during the three months ended March 28, 2026 and $3 million during the three months ended March 29, 2025. We plan to make further contributions of approximately $8 million to our postretirement benefit plans during the remainder of 2026. Estimated future contributions take into consideration current economic conditions, which at this time are expected to have minimal impact on expected contributions for the remainder of 2026. Our actual contributions and plans may change due to many factors, including changes in tax, employee benefit, or other laws and regulations, tax deductibility, significant differences between expected and actual postretirement plan asset performance or interest rates, or other factors.