Quarterly report [Sections 13 or 15(d)]

Note 13 - Employee Benefit Plans

v3.25.1
Note 13 - Employee Benefit Plans
3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Retirement Benefits [Text Block]

13. EMPLOYEE BENEFIT PLANS 

Components of the net periodic benefit cost from continuing operations for the three months ended March 31, 2025 and 2024 were as follows (dollars in millions):

 

                   

Other postretirement

 
   

Defined benefit plans

   

benefit plans

 
   

Three months ended

   

Three months ended

 
   

March 31,

   

March 31,

 
   

2025

   

2024

   

2025

   

2024

 

Service cost

  $ 6     $ 7     $     $  

Interest cost

    22       22       1       1  

Expected return on assets

    (31 )     (32 )            

Amortization of prior service benefit

    (1 )     (1 )     (1 )     (1 )

Amortization of actuarial loss

    7       8              

Settlement gain

    (1 )                  

Net periodic benefit cost

  $ 2     $ 4     $     $  

During the three months ended March 31, 2025 and 2024, we made contributions to our pension and other postretirement benefit plans related to continuing operations of $8 million and $10 million, respectively. During the remainder of 2025, we expect to contribute an additional amount of approximately $27 million to these plans.

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