v3.26.1
Pension And Postretirement Benefits
9 Months Ended
May 03, 2026
Retirement Benefits [Abstract]  
Pension And Postretirement Benefits Pension and Postretirement Benefits
Components of net periodic benefit expense (income) were as follows:
Three Months EndedNine Months Ended
PensionPostretirementPensionPostretirement
(Millions)May 3, 2026April 27, 2025May 3, 2026April 27, 2025May 3, 2026April 27, 2025May 3, 2026April 27, 2025
Service cost$3 $$ $— $9 $10 $ $— 
Interest cost14 15 1 42 46 4 
Expected return on plan assets(20)(20) — (59)(60) — 
Amortization of prior service credit —  (1) —  (1)
Special termination benefits38 —   38    
Curtailment losses (gains)(5)—   (5)   
Actuarial losses (gains)(25)—  — (25)—  
Net periodic benefit expense (income)$5 $(1)$1 $$ $(4)$4 $
The special termination pension benefits for the three- and nine-month periods ended May 3, 2026 related to a voluntary early retirement program offered under our cost savings initiatives. See also Note 8.
The curtailment gains for three- and nine-month periods ended May 3, 2026 primarily related to plan amendments of certain pension plans to freeze future benefit accruals (other than interest credits on already accrued benefits), effective as of
August 1, 2028, for certain salaried employees.
The actuarial gains for the three- and nine-month periods ended May 3, 2026 resulted from the remeasurement of certain pension plans in the third quarter due to plan amendments and activity under our cost savings initiatives. The actuarial gains were primarily due to gains on plan assets that exceeded the expected return, partially offset by decreases in the discount rates used to determine the benefit obligations. The actuarial loss for the nine-month period ended April 27, 2025 resulted from the remeasurement of our postretirement plan in the first quarter due to a plan amendment. The actuarial loss was primarily due to a decrease in the discount rate used to determine the benefit obligation.