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Retirement-Related Benefits (Tables)
 3 Months Ended
Mar. 31, 2024
Retirement Benefits [Abstract]  
Pre-tax cost for all retirement-related plans
The following table provides the pre-tax cost for all retirement-related plans.
Yr. to Yr.
(Dollars in millions)Percent
For the three months ended March 31:20242023Change
Retirement-related plans — cost:
   
Defined benefit pension and defined contribution plans — cost
$323 $281 14.8 %
Nonpension postretirement plans — cost
30 32 (6.0)
Total$353 $314 12.7 %
Components of net periodic (income)/cost of the company's retirement-related benefit plans
The following table provides the components of the cost/(income) for the company’s retirement- related benefit plans.
(Dollars in millions)U.S. PlansNon-U.S. Plans
For the three months ended March 31:2024 202320242023
Service cost (1)
$98 $— $44 $44 
Interest cost (2)
254 272 267 288 
Expected return on plan assets (2)
(340)(382)(389)(356)
Amortization of prior service costs/(credits) (2)
— — 5 5 
Recognized actuarial losses (2)
129 27 130 102 
Curtailments and settlements (2)
— — 2 (1)
Multi-employer plans— — 4 4 
Other costs/(credits) (2)
— — 8 9 
Total net periodic pension (income)/cost of defined benefit plans$140 $(82)$72 $95 
Cost of defined contribution plans12 172 99 97 
Total defined benefit pension and defined contribution plans cost recognized in the Consolidated Income Statement$152 $90 $171 $192 
(1)Increase in U.S. Plans service cost in 2024 is due to the Qualified PPP plan changes described above.
(2)These components of net periodic pension cost are included in other (income) and expense in the Consolidated Income Statement.
Components of the cost/(income) for the company's nonpension postretirement plans
The following table provides the components of the cost for the company’s nonpension postretirement plans.
(Dollars in millions)U.S. PlanNon-U.S. Plans
For the three months ended March 31:2024202320242023
Service cost$1 $1 $1 $1 
Interest cost (1)
27 29 11 9 
Expected return on plan assets (1)
— — 0 (1)
Amortization of prior service costs/(credits) (1)
(7)(7)0 0 
Recognized actuarial losses (1)
— — 0 0 
Curtailments and settlements (1)
— — — — 
Total nonpension postretirement plans cost recognized in the Consolidated Income Statement$20 $23 $11 $9 
(1)These components of net periodic pension cost are included in other (income) and expense in the Consolidated Income Statement.
Schedule of contributions The table below includes contributions to the following plans:
(Dollars in millions)Plan Contributions
For the three months ended March 31:20242023
U.S. nonpension postretirement benefit plans$89 $109 
Non-U.S. DB and multi-employer plans (1)
14 7 
Total plan contributions$103 $117 
(1)Amounts reported net of refunds.