Quarterly report [Sections 13 or 15(d)]

Note 13 - Employee Benefit Plans

v3.25.3
Note 13 - Employee Benefit Plans
9 Months Ended
Sep. 30, 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 and nine months ended September 30, 2025 and 2024 were as follows (dollars in millions):

 

                   

Other postretirement

 
   

Defined benefit plans

   

benefit plans

 
   

Three months ended

   

Three months ended

 
   

September 30,

   

September 30,

 
   

2025

   

2024

   

2025

   

2024

 

Service cost

  $ 6     $ 7     $ —     $ —  

Interest cost

    22       23       1       1  

Expected return on assets

    (33 )     (32 )     —       —  

Amortization of prior service benefit

    (1 )     (2 )     (1 )     (1 )

Amortization of actuarial loss

    8       9       —       —  

Net periodic benefit cost

  $ 2     $ 5     $ —     $ —  

​  

                   

Other postretirement

 
   

Defined benefit plans

   

benefit plans

 
   

Nine months ended

   

Nine months ended

 
   

September 30,

   

September 30,

 
   

2025

   

2024

   

2025

   

2024

 

Service cost

  $ 19     $ 20     $ —     $ —  

Interest cost

    67       67       2       2  

Expected return on assets

    (97 )     (96 )     —       —  

Amortization of prior service benefit

    (4 )     (4 )     (2 )     (2 )

Amortization of actuarial loss

    22       25       —       —  

Special termination benefits

    —       2       —       —  

Settlement gain

    (1 )     —       —       —  

Net periodic benefit cost

  $ 6     $ 14     $ —     $ —  

 

During the nine months ended September 30, 2025 and 2024, we made contributions to our pension and other postretirement benefit plans related to continuing operations of $25 million and $26 million, respectively. During the remainder of 2025, we expect to make additional contributions of approximately $9 million to these plans.

​