v3.23.2
PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)
9 Months Ended
Jul. 30, 2023
PENSION AND OTHER POSTRETIREMENT BENEFITS  
Schedule of Components of Net Periodic Pension and OPEB (Benefit) Cost

The Company has several defined benefit pension plans and other postretirement employee benefit (OPEB) plans, primarily health care and life insurance plans, covering its U.S. employees and employees in certain foreign countries. The components of net periodic pension and OPEB (benefit) cost consisted of the following in millions of dollars:

 

Three Months Ended

Nine Months Ended

 

July 30

July 31

July 30

July 31

 

2023

2022

2023

2022

 

Pension

Service cost

    

$

62

    

$

86

    

$

186

    

$

265

Interest cost

133

 

85

400

 

242

Expected return on plan assets

(223)

 

(182)

(655)

 

(544)

Amortization of actuarial (gain) loss

(5)

 

31

(16)

 

107

Amortization of prior service cost

10

 

9

30

 

25

Settlements/curtailment

 

36

36

 

44

Net (benefit) cost

$

(23)

$

65

$

(19)

$

139

OPEB

Service cost

    

$

7

    

$

11

    

$

20

    

$

34

Interest cost

44

 

25

132

 

74

Expected return on plan assets

(29)

 

(28)

(87)

 

(83)

Amortization of actuarial gain

(15)

 

(4)

(45)

 

(13)

Amortization of prior service credit

(1)

 

(1)

(2)

 

(3)

Net cost

$

6

$

3

$

18

$

9