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PENSION AND OTHER POST-EMPLOYMENT BENEFIT PLANS (Tables)
6 Months Ended
Jun. 30, 2024
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]  
Components of Net Periodic Benefit Cost

The components of net periodic benefit cost are:

 

 

 

PENSION

 

 

 

QUARTER ENDED

 

 

YEAR-TO-DATE ENDED

 

DOLLAR AMOUNTS IN MILLIONS

 

JUNE 2024

 

 

JUNE 2023

 

 

JUNE 2024

 

 

JUNE 2023

 

Service cost

 

$

5

 

 

$

5

 

 

$

10

 

 

$

11

 

Interest cost

 

 

29

 

 

 

29

 

 

 

58

 

 

 

59

 

Expected return on plan assets

 

 

(30

)

 

 

(30

)

 

 

(61

)

 

 

(60

)

Amortization of actuarial loss

 

 

9

 

 

 

11

 

 

 

20

 

 

 

19

 

Amortization of prior service cost

 

 

1

 

 

 

1

 

 

 

1

 

 

 

1

 

Total net periodic benefit cost – pension

 

$

14

 

 

$

16

 

 

$

28

 

 

$

30

 

 

 

 

OTHER POST-EMPLOYMENT BENEFITS

 

 

 

QUARTER ENDED

 

 

YEAR-TO-DATE ENDED

 

DOLLAR AMOUNTS IN MILLIONS

 

JUNE 2024

 

 

JUNE 2023

 

 

JUNE 2024

 

 

JUNE 2023

 

Interest cost

 

$

1

 

 

$

1

 

 

$

2

 

 

$

2

 

Amortization of actuarial loss

 

 

 

 

 

1

 

 

 

1

 

 

 

1

 

Amortization of prior service credit

 

 

 

 

 

(1

)

 

 

 

 

 

(1

)

Total net periodic benefit cost – other post-employment benefits

 

$

1

 

 

$

1

 

 

$

3

 

 

$

2