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Employee Benefit Plans | 6 Months Ended
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Jun. 30, 2024
Retirement Benefits [Abstract] |
Employee Benefit Plans | Note 10: Employee Benefit Plans Pension and Postretirement Plans. We sponsor both funded and unfunded domestic and foreign defined benefit pension and postretirement benefit (PRB) plans and defined contribution plans. Contributions to our plans were as follows:
| Quarter Ended June 30, |  | Six Months Ended June 30,
(dollars in millions) | 2024 |  | 2023 |  | 2024 |  | 2023
U.S. qualified defined benefit plans | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
International defined benefit plans | 10 |  |  | 20 |  |  | 12 |  |  | 28 |
PRB plans | 4 |  |  | 8 |  |  | 13 |  |  | 12 |
Defined contribution plans | 339 |  |  | 317 |  |  | 734 |  |  | 689 |
The amounts recognized in the Condensed Consolidated Balance Sheet consist of:
(dollars in millions) | June 30, 2024 |  | December 31, 2023
Noncurrent pension assets (included in Other assets) | $ | 1,906 |  |  | $ | 1,296 |
Current pension and PRB liabilities (included in Accrued employee compensation) | 270 |  |  | 270 |
Future pension and postretirement benefit obligations | 2,264 |  |  | 2,385 |
The amounts recognized in Future pension and postretirement benefit obligations consist of:
(dollars in millions) | June 30, 2024 |  | December 31, 2023
Noncurrent pension liabilities | $ | 1,634 |  |  | $ | 1,737 |
Noncurrent PRB liabilities | 568 |  |  | 582 |
Other pension and PRB related items | 62 |  |  | 66 |
Future pension and postretirement benefit obligations | $ | 2,264 |  |  | $ | 2,385 |
The components of net periodic (income) expense for our defined pension and PRB plans were as follows:
| Pension Benefits Quarter Ended June 30, |  | PRB Quarter Ended June 30,
(dollars in millions) | 2024 |  | 2023 |  | 2024 |  | 2023
Operating expense |  |  |  |  |  |  |
Service cost | $ | 47 |  |  | $ | 56 |  |  | $ | 1 |  |  | $ | 1 |
Non-operating expense |  |  |  |  |  |  |
Interest cost | 596 |  |  | 627 |  |  | 11 |  |  | 12 |
Expected return on plan assets | (936) |  |  | (938) |  |  | (5) |  |  | (5) |
Amortization of prior service credit | (42) |  |  | (40) |  |  | — |  |  | — |
Recognized actuarial net (gain) loss | 5 |  |  | (95) |  |  | (6) |  |  | (8) |
Net settlement, curtailment, and special termination benefit (gain) loss | 3 |  |  | — |  |  | — |  |  | — |
Non-service pension income | (374) |  |  | (446) |  |  | — |  |  | (1) |
Total net periodic (income) expense | $ | (327) |  |  | $ | (390) |  |  | $ | 1 |  |  | $ | — |
| Pension Benefits Six Months Ended June 30, |  | PRB Six Months Ended June 30,
(dollars in millions) | 2024 |  | 2023 |  | 2024 |  | 2023
Operating expense |  |  |  |  |  |  |
Service cost | $ | 94 |  |  | $ | 111 |  |  | $ | 2 |  |  | $ | 2 |
Non-operating expense |  |  |  |  |  |  |
Interest cost | 1,192 |  |  | 1,253 |  |  | 22 |  |  | 24 |
Expected return on plan assets | (1,873) |  |  | (1,875) |  |  | (10) |  |  | (10) |
Amortization of prior service credit | (85) |  |  | (79) |  |  | — |  |  | — |
Recognized actuarial net (gain) loss | 10 |  |  | (190) |  |  | (12) |  |  | (16) |
Net settlement, curtailment and special termination benefit (gain) loss | (4) |  |  | 2 |  |  | — |  |  | — |
Non-service pension income | (760) |  |  | (889) |  |  | — |  |  | (2) |
Total net periodic (income) expense | $ | (666) |  |  | $ | (778) |  |  | $ | 2 |  |  | $ | — |
We have set aside assets in separate trusts, which we expect to be used to pay for certain nonqualified defined benefit and defined contribution plan obligations in excess of qualified plan limits. These assets are included in Other assets in our Condensed Consolidated Balance Sheet. The fair value of marketable securities held in trusts was as follows:
(dollars in millions) | June 30, 2024 |  | December 31, 2023
Marketable securities held in trusts | $ | 714 |  |  | $ | 745 |

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