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Retirement-Related Benefits (Tables)
 9 Months Ended
Sep. 30, 2025
Retirement Benefits [Abstract]  
Pre-tax cost for all retirement-related plans
The following tables provide the pre-tax cost for all retirement-related plans.
Yr.-to-Yr.
(Dollars in millions)Percent
For the three months ended September 30:20252024Change
Retirement-related plans — cost:   
Defined benefit pension and defined contribution plans — cost (1)
$233 $3,024 (92.3)%
Nonpension postretirement plans — cost33 30 10.2 %
Total$265 $3,053 (91.3)%
(1) 2024 includes the impact of a pension settlement charge, as described below.
Yr.-to-Yr.
(Dollars in millions)Percent
For the nine months ended September 30:20252024Change
Retirement-related plans — cost:   
Defined benefit pension and defined contribution plans — cost (1)
$714 $3,667 (80.5)%
Nonpension postretirement plans — cost97 90 8.2 %
Total$812 $3,757 (78.4)%
(1) 2024 includes the impact of a pension settlement charge, as described below.
Components of net periodic (income)/cost of the company's retirement-related benefit plans
The following tables provide 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 September 30:2025 202420252024
Service cost $88 $98 $45 $43 
Interest cost (1)
187 228 273 271 
Expected return on plan assets (1)
(268)(313)(376)(395)
Amortization of prior service costs/(credits) (1)
— — 6 6 
Recognized actuarial losses (1)
70 113 88 131 
Curtailments and settlements (1) (2)
— 2,725 2 2 
Multi-employer plans— — 3 3 
Other costs/(credits) (1)
— — 0 0 
Total net periodic pension (income)/cost of defined benefit plans$77 $2,851 $40 $62 
Cost of defined contribution plans16 15 100 95 
Total defined benefit pension and defined contribution plans cost recognized in the Consolidated Income Statement$93 $2,866 $140 $158 
(1)These components of net periodic pension cost are included in other (income) and expense in the Consolidated Income Statement.
(2)2024 includes the impact of a pension settlement charge, as described below.
(Dollars in millions)U.S. PlansNon-U.S. Plans
For the nine months ended September 30:2025 202420252024
Service cost
$264 $295 $130 $128 
Interest cost (1)
561 735 790 803 
Expected return on plan assets (1)
(804)(994)(1,091)(1,168)
Amortization of prior service costs/(credits) (1)
— — 17 17 
Recognized actuarial losses (1)
210 370 257 389 
Curtailments and settlements (1) (2)
— 2,725 8 7 
Multi-employer plans— — 10 10 
Other costs/(credits) (1)
— — 18 20 
Total net periodic pension (income)/cost of defined benefit plans$230 $3,131 $139 $206 
Cost of defined contribution plans46 42 299 288 
Total defined benefit pension and defined contribution plans cost recognized in the Consolidated Income Statement$276 $3,173 $438 $494 
(1)These components of net periodic pension cost are included in other (income) and expense in the Consolidated Income Statement.
(2)2024 includes the impact of a pension settlement charge, as described below.
Components of the cost/(income) for the company's nonpension postretirement plans
The following tables provide 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 September 30:2025202420252024
Service cost$0 $1 $1 $1 
Interest cost (1)
28 27 11 10 
Expected return on plan assets (1)
— — 0 0 
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$22 $20 $11 $10 
(Dollars in millions)U.S. PlanNon-U.S. Plans
For the nine months ended September 30:2025202420252024
Service cost$1 $2 $1 $2 
Interest cost (1)
85 80 31 31 
Expected return on plan assets (1)
— — (1)(1)
Amortization of prior service costs/(credits) (1)
(22)(22)0 0 
Recognized actuarial losses (1)
— — 1 (1)
Curtailments and settlements (1)
— — — — 
Total nonpension postretirement plans cost recognized in the Consolidated Income Statement$65 $59 $33 $30 
(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 nine months ended September 30:20252024
U.S. nonpension postretirement benefit plan
$159 $155 
Non-U.S. DB and multi-employer plans (1)
21 53 
Total plan contributions$179 $208 
(1)Amounts reported net of refunds.