PENSION AND OTHER POSTRETIREMENT BENEFITS

Schedule of Components of Net Periodic Pension and OPEB (Benefit) Cost

The components of net periodic pension (benefit) cost and the related assumptions consisted of the following:


	2023		2022		2021
Pensions
Service cost	$	246	$	349	$	332
Interest cost		533		330		276
Expected return on plan assets		(878)		(726)		(799)
Amortization of actuarial (gain) loss		(13)		132		259
Amortization of prior service cost		38		34		12
Settlements/curtailment		37		45		21
Net (benefit) cost	$	(37)	$	164	$	101
Weighted-average assumptions
Discount rates - service cost		5.2%		3.0%		2.5%
Discount rates - interest cost		5.1%		2.6%		2.1%
Rate of compensation increase		3.8%		3.7%		3.7%
Expected long-term rates of return		6.3%		5.1%		6.0%
Interest crediting rate - U.S. cash balance plans		4.3%		2.1%		1.7%

The components of net periodic OPEB cost and the assumptions related to the cost consisted of the following:


	2023		2022		2021
OPEB
Service cost	$	27	$	45	$	48
Interest cost		176		99		102
Expected return on plan assets		(117)		(110)		(77)
Amortization of actuarial (gain) loss		(59)		(18)		27
Amortization of prior service credit		(3)		(4)		(4)
Net cost	$	24	$	12	$	96
Weighted-average assumptions
Discount rates - service cost		6.1%		3.6%		3.4%
Discount rates - interest cost		5.4%		2.3%		2.1%
Expected long-term rates of return		5.7%		4.4%		5.4%

Schedule of Weighted-Average Health Care Cost Trend Rates

The weighted-average annual rates of increase in the per capita cost of covered health care benefits (the health care cost trend rates) for medical and prescription drug claims for pre- and post-65 age groups used to determine the October 29, 2023 and October 30, 2022 accumulated postretirement benefit obligations were as follows:


	2023	2022
Initial year	18.7% (2023 to 2024)	0.0% (2022 to 2023)
Second year	8.8% (2024 to 2025)	12.6% (2023 to 2024)
Ultimate	4.7% (2032 to 2033)	4.7% (2032 to 2033)

An increase in Medicare Advantage premiums and prescription drug trends impacted the weighted-average annual rates of increase for the initial year in 2023. A decrease in Medicare Advantage premiums impacted the weighted-average annual rates of increase for the initial year in 2022.

Schedule of Amounts Recognized in the Balance Sheet

The pension and OPEB amounts recognized in the balance sheet at October 29, 2023 and October 30, 2022 consisted of the following:


	Pensions				OPEB
	2023		2022		2023		2022
Noncurrent asset	$	2,608	$	3,223	$	399	$	507
Less: Current liability		59		42		40		39
Less: Noncurrent liability		473		491		1,360		1,673
Total	$	2,076	$	2,690	$	(1,001)	$	(1,205)

The retirement benefits and other liabilities recognized in the balance sheet at October 29, 2023 and October 30, 2022 consisted of the following:


	2023		2022
Deferred compensation - current	$	25	$	30
Deferred compensation and other - noncurrent		183		182
Pensions and OPEB - current		99		81
Pensions and OPEB - noncurrent		1,833		2,164
Total	$	2,140	$	2,457

Schedule of Future Benefits Expected to be Paid from the Benefit Plans

The expected future benefit payments at October 29, 2023 were as follows:


	Pensions		OPEB*
2024	$	746	$	249
2025		726		252
2026		727		257
2027		720		257
2028		708		257
2029 to 2033		3,564		1,251

* Net of prescription drug group benefit subsidy under Medicare Part D.