XML 29 R16.htm IDEA: XBRL DOCUMENT v3.25.3
Employee Benefit Plans
 9 Months Ended
Sep. 30, 2025
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 September 30,Nine Months Ended September 30,
(dollars in millions)2025202420252024
U.S. qualified defined benefit plans$— $— $— $— 
International defined benefit plans1 6 15 18 
PRB plans7 6 18 19 
Defined contribution plans316 308 1,057 1,042 
The amounts recognized in the Condensed Consolidated Balance Sheet consist of:
(dollars in millions)September 30, 2025December 31, 2024
Non-current pension assets (included in Other assets)$2,659 $1,819 
Current pension and PRB liabilities (included in Accrued employee compensation)257 256 
Future pension and postretirement benefit obligations1,981 2,104 
The amounts recognized in Future pension and postretirement benefit obligations consist of:
(dollars in millions)September 30, 2025December 31, 2024
Non-current pension liabilities$1,434 $1,532 
Non-current PRB liabilities480 523 
Other pension and PRB related items67 49 
Future pension and postretirement benefit obligations$1,981 $2,104 
The components of net periodic income for our defined pension plans were as follows:
 
Quarter Ended September 30,
Nine Months Ended September 30,
(dollars in millions)2025202420252024
Operating expense
Service cost$42 $47 $126 $141 
Non-operating expense
Interest cost587 597 1,756 1,789 
Expected return on plan assets(922)(937)(2,760)(2,810)
Amortization of prior service credit(32)(42)(107)(127)
Recognized actuarial net loss5 5 15 15 
 Net settlement, curtailment, and special termination benefit loss— 4 14 — 
Non-service pension income(362)(373)(1,082)(1,133)
Total net periodic pension income$(320)$(326)$(956)$(992)
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)September 30, 2025December 31, 2024
Marketable securities held in trusts$713 $786