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Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]  
Schedule of estimated future benefit payments
The Combined Pension Plan payments, post-retirement health care benefit payments and premiums, and life insurance premium payments are either distributed from plan assets or paid by us. The estimated benefit payments provided below are based on actuarial assumptions using the demographics of the employee and retiree populations and have been reduced by estimated participant contributions.
Combined Pension PlanPost-Retirement
Benefit Plans		Medicare Part D
Subsidy Receipts
 (Dollars in millions)
Estimated future benefit payments:   
2021$961 238 (5)
2022868 232 (5)
2023844 225 (5)
2024819 217 (4)
2025794 210 (4)
2026 - 20303,578 932 (16)
Schedule of actuarial assumptions used to compute net periodic benefit expense
The actuarial assumptions used to compute the net periodic benefit expense for our Combined Pension Plan and post-retirement benefit plans are based upon information available as of the beginning of the year, as presented in the following table.
 Combined Pension PlanPost-Retirement Benefit Plans
 202020192018202020192018
Actuarial assumptions at beginning of year:      
Discount rate
2.79% - 3.55%
3.94% - 4.44%
3.14% - 3.69%
1.69% - 3.35%
3.84% - 4.38%
4.26 %
Rate of compensation increase3.25 %3.25 %3.25 %N/AN/AN/A
Expected long-term rate of return on plan assets (1)
6.00 %6.50 %6.50 %4.00 %4.00 %4.00 %
Initial health care cost trend rateN/AN/AN/A
6.50% / 5.00%
6.50% / 5.00%
7.00% / 5.00%
Ultimate health care cost trend rateN/AN/AN/A4.50 %4.50 %4.50 %
Year ultimate trend rate is reachedN/AN/AN/A202520252025
_______________________________________________________________________________
N/A - Not applicable
(1) Rates are presented net of projected fees and administrative costs.
Schedule of components of net periodic pension income and post-retirement benefit expense
Net periodic benefit (income) expense for our Combined Pension Plan includes the following components:
 Combined Pension Plan
Years Ended December 31,
 202020192018
 (Dollars in millions)
Service cost$59 56 66 
Interest cost324 436 392 
Expected return on plan assets(593)(618)(685)
Special termination benefits charge13 6 15 
Recognition of prior service credit(9)(8)(8)
Recognition of actuarial loss202 223 178 
Net periodic pension benefit (income) expense$(4)95 (42)

Net periodic benefit expense for our post-retirement benefit plans includes the following components:
 Post-Retirement Plans
Years Ended December 31,
 202020192018
 (Dollars in millions)
Service cost$14 15 18 
Interest cost69 110 97 
Expected return on plan assets(1)(1)(1)
Recognition of prior service cost16 16 20 
Curtailment loss8 — — 
Net periodic post-retirement benefit expense$106 140 134 
Schedule of actuarial assumptions used to compute the funded status for the plans
The actuarial assumptions used to compute the funded status for the plans are based upon information available as of December 31, 2020 and 2019 and are as follows:
 Combined Pension PlanPost-Retirement Benefit Plans
 December 31,December 31,
 2020201920202019
Actuarial assumptions at end of year:    
Discount rate2.43 %3.25 %2.40 %3.22 %
Rate of compensation increase3.25 %3.25 %N/AN/A
Initial health care cost trend rateN/AN/A
6.25% / 5.00%
6.50% / 5.00%
Ultimate health care cost trend rateN/AN/A4.50 %4.50 %
Year ultimate trend rate is reachedN/AN/A20252025
_______________________________________________________________________________
N/A - Not applicable
Schedule of change in benefit obligation
The following tables summarize the change in the benefit obligations for the Combined Pension Plan and post-retirement benefit plans:
 Combined Pension Plan
Years Ended December 31,
 202020192018
 (Dollars in millions)
Change in benefit obligation   
Benefit obligation at beginning of year$12,217 11,594 13,064 
Service cost59 56 66 
Interest cost324 436 392 
Plan amendments(3)(9)— 
Special termination benefits charge13 6 15 
Actuarial loss (gain)749 1,249 (765)
Benefits paid from plan assets(1,157)(1,115)(1,178)
Benefit obligation at end of year$12,202 12,217 11,594 

 Post-Retirement Benefit Plans
Years Ended December 31,
 202020192018
 (Dollars in millions)
Change in benefit obligation   
Benefit obligation at beginning of year$3,037 2,977 3,375 
Service cost14 15 18 
Interest cost69 110 97 
Participant contributions46 52 54 
Direct subsidy receipts6 7 8 
Plan Amendment— — (36)
Actuarial loss (gain)134 180 (224)
Curtailment loss4 — — 
Benefits paid by company(255)(300)(311)
Benefits paid from plan assets(7)(4)(4)
Benefit obligation at end of year$3,048 3,037 2,977 
Schedule of change in plan assets
The following tables summarize the change in the fair value of plan assets for the Combined Pension Plan:

 Combined Pension Plan
Years Ended December 31,
 202020192018
 (Dollars in millions)
Change in plan assets   
Fair value of plan assets at beginning of year$10,493 10,033 11,060 
Return on plan assets1,210 1,575 (349)
Employer contributions— — 500 
Benefits paid from plan assets(1,157)(1,115)(1,178)
Fair value of plan assets at end of year$10,546 10,493 10,033 
Schedule of fair value of the plans' assets by asset category
The table below present the fair value of plan assets by category and the input levels used to determine those fair values at December 31, 2020. It is important to note that the asset allocations do not include market exposures that are gained with derivatives. Investments include dividend and interest receivables, pending trades and accrued expenses.
 Fair Value of Combined Pension Plan Assets at December 31, 2020
 Level 1Level 2Level 3Total
 (Dollars in millions)
Assets
Investment grade bonds (a)$726 4,066 — 4,792 
High yield bonds (b)— 262 6 268 
Emerging market bonds (c)218 172 — 390 
U.S. stocks (d)653 — 2 655 
Non-U.S. stocks (e)593 1 — 594 
Private debt (h)— — — — 
Multi-asset strategies (l)199 — — 199 
Repurchase agreements (n)— — — — 
Cash equivalents and short-term investments (o)— 281 — 281 
Total investments, excluding investments valued at NAV$2,389 4,782 8 7,179 
Liabilities
Derivatives (m)$— (1)— (1)
Investments valued at NAV3,368 
Total pension plan assets   $10,546 
The table below present the fair value of plan assets by category and the input levels used to determine those fair values at December 31, 2019. It is important to note that the asset allocations do not include market exposures that are gained with derivatives. Investments include dividend and interest receivable, pending trades and accrued expenses.
 Fair Value of Combined Pension Plan Assets at December 31, 2019
 Level 1Level 2Level 3Total
 (Dollars in millions)
Assets
Investment grade bonds (a)$828 3,197 — 4,025 
High yield bonds (b)— 232 5 237 
Emerging market bonds (c)203 84 — 287 
U.S. stocks (d)756 3 1 760 
Non-U.S. stocks (e)592 — — 592 
Private debt (h)— — 16 16 
Multi-asset strategies (l)257 — — 257 
Repurchase agreements (n)— 39 — 39 
Cash equivalents and short-term investments (o)— 433 — 433 
Total investments, excluding investments valued at NAV$2,636 3,988 22 6,646 
Liabilities
Derivatives (m)$1 (18)— (17)
Investments valued at NAV3,864 
Total pension plan assets   $10,493 

The table below presents the fair value of plan assets valued at NAV by category for our Combined Pension Plan at December 31, 2020 and 2019.
 Fair Value of Plan Assets Valued at NAV
 Combined Pension Plan at
December 31,
20202019
 (Dollars in millions)
Investment grade bonds (a)$352 211 
High yield bonds (b)25 39 
U.S. stocks (d)192 169 
Non-U.S. stocks (e)308 467 
Emerging market stocks (f)81 92 
Private equity (g)283 322 
Private debt (h)505 483 
Market neutral hedge funds (i)222 433 
Directional hedge funds (j)254 443 
Real estate (k)543 635 
Multi-asset strategies (l)375 449 
Cash equivalents and short-term investments (o)228 121 
Total investments valued at NAV$3,368 3,864 
Schedule of gross notional exposure of the derivative instruments directly held by the plans
 Gross Notional Exposure
 Combined Pension Plan
Years Ended December 31,
 20202019
 (Dollars in millions)
Derivative instruments:  
Exchange-traded U.S. equity futures$84 184 
Exchange-traded Treasury and other interest rate futures1,033 1,253 
Exchange-traded Foreign currency futures12 — 
Exchange-traded EURO futures6 10 
Interest rate swaps124 44 
Credit default swaps43 205 
Index swaps1,297 2,058 
Foreign exchange forwards769 508 
Options222 146 
Summary of changes in fair value of defined benefit plans' Level 3 assets
The table below presents a rollforward of the Combined Pension Plan assets valued using Level 3 inputs:
 Combined Pension Plan Assets Valued Using Level 3 Inputs
 High
Yield
Bonds		U.S. StocksPrivate DebtTotal
 (Dollars in millions)
Balance at December 31, 2018$7 2 15 24 
Acquisitions (dispositions)(2)— 1 (1)
Actual return on plan assets— (1)— (1)
Balance at December 31, 20195 1 16 22 
Acquisitions (dispositions)1 — (17)(16)
Actual return on plan assets— 1 1 2 
Balance at December 31, 2020$6 2 — 8 
Schedule of the unfunded status of the benefit plans
The following table presents the unfunded status of the Combined Pension Plan and post-retirement benefit plans:
 Combined Pension PlanPost-Retirement
Benefit Plans
 Years Ended December 31,Years Ended December 31,
 2020201920202019
 (Dollars in millions)
Benefit obligation$(12,202)(12,217)(3,048)(3,037)
Fair value of plan assets10,546 10,493 5 13 
Unfunded status(1,656)(1,724)(3,043)(3,024)
Current portion of unfunded status— — (228)(224)
Non-current portion of unfunded status$(1,656)(1,724)(2,815)(2,800)
Schedule of items not recognized as a component of net periodic benefits expense
The following table presents cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2019, items recognized as a component of net periodic benefits expense in 2020, additional items deferred during 2020 and cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2020. The items not recognized as a component of net periodic benefits expense have been recorded on our consolidated balance sheets in accumulated other comprehensive loss:
 As of and for the Years Ended December 31,
 2019Recognition
of Net
Periodic
Benefits
Expense		DeferralsNet
Change in
AOCL		2020
 (Dollars in millions)
Accumulated other comprehensive loss:     
Pension plans:     
Net actuarial (loss) gain$(3,046)203 (150)53 (2,993)
Prior service benefit (cost)47 (9)3 (6)41 
Deferred income tax benefit (expense)770 (47)32 (15)755 
Total pension plans(2,229)147 (115)32 (2,197)
Post-retirement benefit plans:     
Net actuarial (loss) gain(175)— (171)(171)(346)
Prior service (cost) benefit(71)16 35 51 (20)
Curtailment loss— 4 — 4 4 
Deferred income tax benefit (expense)62 (5)33 28 90 
Total post-retirement benefit plans(184)15 (103)(88)(272)
Total accumulated other comprehensive loss$(2,413)162 (218)(56)(2,469)
The following table presents cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2018, items recognized as a component of net periodic benefits expense in 2019, additional items deferred during 2019 and cumulative items not recognized as a component of net periodic benefits expense as of December 31, 2018. The items not recognized as a component of net periodic benefits expense have been recorded on our consolidated balance sheets in accumulated other comprehensive loss:
 As of and for the Years Ended December 31,
 2018Recognition
of Net
Periodic
Benefits
Expense		DeferralsNet
Change in
AOCL		2019
 (Dollars in millions)
Accumulated other comprehensive loss:     
Pension plans:     
Net actuarial (loss) gain$(2,973)224 (297)(73)(3,046)
Prior service benefit (cost)46 (8)9 1 47 
Deferred income tax benefit (expense)754 (53)69 16 770 
Total pension plans(2,173)163 (219)(56)(2,229)
Post-retirement benefit plans:     
Net actuarial gain (loss)7 — (182)(182)(175)
Prior service (cost) benefit(87)16 — 16 (71)
Deferred income tax benefit (expense)22 (4)44 40 62 
Total post-retirement benefit plans(58)12 (138)(126)(184)
Total accumulated other comprehensive (loss) income$(2,231)175 (357)(182)(2,413)