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:


	2024		2023		2022
Pensions:
Service cost	$	230	$	246	$	349
Interest cost		545		533		330
Expected return on plan assets		(967)		(878)		(726)
Amortization of actuarial (gain) loss		3		(13)		132
Amortization of prior service cost		40		38		34
Settlements/curtailments		38		37		45
Net (benefit) cost	$	(111)	$	(37)	$	164
Weighted-average assumptions:
Discount rates – service cost		5.8%		5.2%		3.0%
Discount rates – interest cost		5.7%		5.1%		2.6%
Rate of compensation increase		3.8%		3.8%		3.7%
Expected long-term rates of return		7.0%		6.3%		5.1%
Interest crediting rate – U.S. cash balance plans		4.8%		4.3%		2.1%

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


	2024		2023		2022
OPEB:
Service cost	$	17	$	27	$	45
Interest cost		174		176		99
Expected return on plan assets		(108)		(117)		(110)
Amortization of actuarial gain		(54)		(59)		(18)
Amortization of prior service credit		(4)		(3)		(4)
Net cost	$	25	$	24	$	12
Weighted-average assumptions:
Discount rates – service cost		6.7%		6.1%		3.6%
Discount rates – interest cost		5.9%		5.4%		2.3%
Expected long-term rates of return		5.6%		5.7%		4.4%

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 27, 2024 and October 29, 2023 accumulated postretirement benefit obligations were as follows:


	2024	2023
Initial year	16.9% (2024 to 2025)	18.7% (2023 to 2024)
Second year	11.5% (2025 to 2026)	8.8% (2024 to 2025)
Ultimate	4.7% (2033 to 2034)	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 2024 and 2023.

Schedule of Amounts Recognized in the Balance Sheet

The pension and OPEB amounts recognized in the balance sheet at October 27, 2024 and October 29, 2023 consisted of the following:


	Pensions				OPEB
	2024		2023		2024		2023
Noncurrent asset	$	2,593	$	2,608	$	328	$	399
Less: Current liability		66		59		39		40
Less: Noncurrent liability		524		473		1,480		1,360
Total	$	2,003	$	2,076	$	(1,191)	$	(1,001)

The retirement benefits and other liabilities recognized in the balance sheet at October 27, 2024 and October 29, 2023 consisted of the following:


	2024		2023
Deferred compensation – current	$	28	$	25
Deferred compensation and other – noncurrent		217		183
Pensions and OPEB – current		105		99
Pensions and OPEB – noncurrent		2,004		1,833
Total	$	2,354	$	2,140

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

The expected future benefit payments at October 27, 2024 were as follows:


	Pensions		OPEB*
2025	$	760	$	257
2026		736		267
2027		728		271
2028		716		273
2029		716		274
2030 to 2034		3,555		1,331

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