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Employee Benefit Plans (Tables) | 3 Months Ended
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Mar. 31, 2024
Retirement Benefits [Abstract] |
Schedule of contributions to plans | Contributions to our plans were as follows:
| Quarter Ended March 31, |  |
(dollars in millions) | 2024 |  | 2023 |  |  |  |
U.S. qualified defined benefit plans | $ | — |  |  | $ | — |  |  |  |  |
International defined benefit plans | 2 |  |  | 8 |  |  |  |  |
PRB plans | 9 |  |  | 4 |  |  |  |  |
Defined contribution plans | 395 |  |  | 372 |  |  |  |  |
Schedule of Amounts Recognized in Balance Sheet | The amounts recognized in the Condensed Consolidated Balance Sheet consist of:
(dollars in millions) | March 31, 2024 |  | December 31, 2023
Noncurrent pension assets (included in Other assets) | $ | 1,600 |  |  | $ | 1,296 |
Current pension and PRB liabilities (included in Accrued employee compensation) | 270 |  |  | 270 |
Future pension and postretirement benefit obligations | 2,320 |  |  | 2,385 |
The amounts recognized in Future pension and postretirement benefit obligations consist of:
(dollars in millions) | March 31, 2024 |  | December 31, 2023
Noncurrent pension liabilities | $ | 1,679 |  |  | $ | 1,737 |
Noncurrent PRB liabilities | 580 |  |  | 582 |
Other pension and PRB related items | 61 |  |  | 66 |
Future pension and postretirement benefit obligations | $ | 2,320 |  |  | $ | 2,385 |
Schedule of Net Benefit Costs | The components of net periodic (income) expense for our defined pension and PRB plans were as follows:
| Pension Benefits Quarter Ended March 31, |  | PRB Quarter Ended March 31,
(dollars in millions) | 2024 |  | 2023 |  | 2024 |  | 2023
Operating expense |  |  |  |  |  |  |
Service cost | $ | 47 |  |  | $ | 55 |  |  | $ | 1 |  |  | $ | 1 |
Non-operating expense |  |  |  |  |  |  |
Interest cost | 596 |  |  | 626 |  |  | 11 |  |  | 12 |
Expected return on plan assets | (937) |  |  | (937) |  |  | (5) |  |  | (5) |
Amortization of prior service credit | (43) |  |  | (39) |  |  | — |  |  | — |
Recognized actuarial net (gain) loss | 5 |  |  | (95) |  |  | (6) |  |  | (8) |
Net settlement, curtailment, and special termination benefit (gain) loss | (7) |  |  | 2 |  |  | — |  |  | — |
Non-service pension income | (386) |  |  | (443) |  |  | — |  |  | (1) |
Total net periodic (income) expense | $ | (339) |  |  | $ | (388) |  |  | $ | 1 |  |  | $ | — |
Marketable Securities | The fair value of marketable securities held in trusts was as follows:
(dollars in millions) | March 31, 2024 |  | December 31, 2023
Marketable securities held in trusts | $ | 705 |  |  | $ | 745 |

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- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
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