Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Employee Benefit Plans

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Note 12 - Employee Benefit Plans
3 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Retirement Benefits [Text Block]

12. EMPLOYEE BENEFIT PLANS 

Components of the net periodic benefit cost from continuing operations for the three months ended March 31, 2024 and 2023 were as follows (dollars in millions):

 

                   

Other postretirement

 
   

Defined benefit plans

   

benefit plans

 
   

Three months

   

Three months

 
   

ended

   

ended

 
   

March 31,

   

March 31,

 
   

2024

   

2023

   

2024

   

2023

 

Service cost

  $ 7     $ 6     $     $  

Interest cost

    22       23       1       1  

Expected return on assets

    (32 )     (31 )            

Amortization of prior service benefit

    (1 )     (1 )     (1 )     (1 )

Amortization of actuarial loss

    8       8              

Net periodic benefit cost

  $ 4     $ 5     $     $  

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During the three months ended March 31, 2024 and 2023, we made contributions to our pension and other postretirement benefit plans related to continuing operations of $10 million and $11 million, respectively. During the remainder of 2024, we expect to contribute an additional amount of approximately $23 million to these plans.

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