Quarterly report [Sections 13 or 15(d)]

Note 12 - Employee Benefit Plans

v3.26.3
Note 12 - Employee Benefit Plans
9 Months Ended
Sep. 30, 2026
Notes to Financial Statements  
Retirement Benefits [Text Block]

12. EMPLOYEE BENEFIT PLANS 

​

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

 

                   

Other postretirement

 
   

Defined benefit plans

   

benefit plans

 
   

Three months ended

   

Three months ended

 
   

September 30,

   

September 30,

 
   

2026

   

2025

   

2026

   

2025

 

Service cost

  $ 5     $ 6     $ —     $ —  

Interest cost

    23       22       1       1  

Expected return on assets

    (34 )     (33 )     —       —  

Amortization of prior service benefit

    (2 )     (1 )     —       (1 )

Amortization of actuarial loss

    7       8       —       —  

Curtailment gain

    (1 )     —       —       —  

Net periodic benefit (credit) cost

  $ (2 )   $ 2     $ 1     $ —  

​

                   

Other postretirement

 
   

Defined benefit plans

   

benefit plans

 
   

Nine months ended

   

Nine months ended

 
   

September 30,

   

September 30,

 
   

2026

   

2025

   

2026

   

2025

 

Service cost

  $ 17     $ 19     $ —     $ —  

Interest cost

    69       67       2       2  

Expected return on assets

    (100 )     (97 )     —       —  

Amortization of prior service benefit

    (4 )     (4 )     (2 )     (2 )

Amortization of actuarial loss

    21       22       —       —  

Curtailment gain

    (1 )     —       —       —  

Settlement gain

    —       (1 )     —       —  

Net periodic benefit cost

  $ 2     $ 6     $ —     $ —  

 

During the nine months ended September 30, 2026 and 2025, we made contributions to our pension and other postretirement benefit plans of $35 million and $25 million, respectively. During the remainder of 2026, we expect to make additional contributions of approximately $7 million to these plans.​