Employee Benefits

9 Months Ended

Sep. 30, 2024

Retirement Benefits [Abstract]

Employee Benefits

NOTE 10 Employee Benefits

The components of net periodic benefit cost for the Company’s pension plans were:

	Three Months Ended September 30				Nine Months Ended September 30
(Dollars in Millions)	2024		2023		2024		2023
Service cost	$	55	$	56	$	164	$	168
Interest cost	94		93		282		278
Expected return on plan assets	(146)		(137)		(438)		(410)
Prior service cost (credit) amortization	(1)		—		(3)		(1)
Actuarial loss (gain) amortization	2		1		7		3
Net periodic benefit cost(a)	$	4	$	13	$	12	$	38

(a)Service cost is included in compensation and employee benefits expense on the Consolidated Statement of Income. All other components are included in other noninterest expense on the Consolidated Statement of Income.