Quarterly report [Sections 13 or 15(d)]

Note 12 - Employee Benefit Plans

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Note 12 - Employee Benefit Plans
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Retirement Benefits [Text Block]

12. EMPLOYEE BENEFIT PLANS 

​

Components of net periodic benefit cost (credit) for the three and six months ended June 30, 2026 and 2025 were as follows (dollars in millions):

 

                   

Other postretirement

  
   

Defined benefit plans

    

benefit plans

  
   

Three months ended

    

Three months ended

  
   

June 30,

    

June 30,

  
   

2026

    

2025

    

2026

    

2025

  

Service cost

   $ 6     $ 7     $ —     $ —  

Interest cost

     23       23       —       —  

Expected return on assets

     (33 )     (33 )     —       —  

Amortization of prior service benefit

     (1 )     (2 )     (1 )     —  

Amortization of actuarial loss

     7       7       —       —  

Net periodic benefit cost (credit)

   $ 2     $ 2     $ (1 )   $ —  

​

                   

Other postretirement

  
   

Defined benefit plans

    

benefit plans

  
   

Six months ended

    

Six months ended

  
   

June 30,

    

June 30,

  
   

2026

    

2025

    

2026

    

2025

  

Service cost

   $ 12     $ 13     $ —     $ —  

Interest cost

     46       45       1       1  

Expected return on assets

     (66 )     (64 )     —       —  

Amortization of prior service benefit

     (2 )     (3 )     (2 )     (1 )

Amortization of actuarial loss

     14       14       —       —  

Settlement gain

     —       (1 )     —       —  

Net periodic benefit cost (credit)

   $ 4     $ 4     $ (1 )   $ —  

 

During both of the six months ended June 30, 2026 and 2025, we made contributions to our pension and other postretirement benefit plans of $16 million. During the remainder of 2026, we expect to make additional contributions of approximately $24 million to these plans.​