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Pension plans and other postretirement benefits
 6 Months Ended
Jun. 30, 2024
Retirement Benefits [Abstract]  
Pension plans and other postretirement benefits
The Company provides defined pension and other postretirement benefits (including health care and life insurance benefits) to qualified retired employees. Net periodic benefit for defined benefit plans consisted of the following:
Pension Benefits
Other Postretirement Benefits
Three Months Ended June 30,
(Dollars in millions)2024202320242023
Service cost$3 $3 $1 $1 
Interest cost on projected benefit obligation29 29 — — 
Expected return on plan assets(50)(50)— — 
Amortization of prior service credit— — (1)(1)
Amortization of net actuarial gain(1)— — — 
Net periodic benefit$(19)$(18)$— $— 
Pension Benefits
Other Postretirement Benefits
Six Months Ended June 30,
(Dollars in millions)2024202320242023
Service cost$5 $6 $1 $1 
Interest cost on projected benefit obligation58 58 1 1 
Expected return on plan assets(101)(101)— — 
Amortization of prior service credit— — (1)(1)
Amortization of net actuarial gain(1)(1)(1)(1)
Net periodic benefit$(39)$(38)$— $— 
Service cost is reflected in "salaries and employee benefits" and the other components of net periodic benefit cost are reflected in "other costs of operations" in the Consolidated Statement of Income. Expenses incurred in connection with the Company's defined contribution pension and retirement savings plans totaled $40 million and $36 million for the three months ended June 30, 2024 and 2023, respectively, and $85 million and $80 million for the six months ended June 30, 2024 and 2023, respectively