Note 7 - Retirement Plans

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Retirement Benefits [Text Block]

7. Retirement Plans

The components of our net periodic pension benefit are included in miscellaneous expense, net in our condensed consolidated statements of operations. During the six-months ended June 30, 2023, the amount recorded as a benefit was not material, and we did not make a contribution to our defined benefit pension plans. During the remainder of 2023, we expect to contribute $4 million to these plans.

During the six-month period ended June 30, 2023, we contributed $14 million in matching cash contributions, and shares of our common stock valued at $9 million for our 2022 discretionary profit-sharing contributions, to the 401(k) plan. The discretionary profit-sharing contribution was recorded as an expense in 2022 and accrued as of December 31, 2022. Based upon employee participation as of June 30, 2023, during the remainder of 2023, we expect to contribute $14 million of matching cash contributions to this plan.