Retirement-Related Benefits (Tables)

3 Months Ended

Mar. 31, 2022

Retirement-Related Benefits

Pre-tax cost for all retirement-related plans

					Yr. to Yr.
(Dollars in millions)					Percent
For the three months ended March 31:	2022		2021		Change
Retirement-related plans — cost:
Defined benefit and contribution pension plans — cost	$	478	$	619	(22.8)	%
Nonpension postretirement plans — cost		33		44	(25.0)
Total	$	510	$	663	(23.0)	%

Components of net periodic (income)/cost of the company's retirement-related benefit plans

(Dollars in millions)	U.S. Plans				Non-U.S. Plans
For the three months ended March 31:	2022		2021		2022		2021
Service cost	$	—	$	—	$	64	$	65
Interest cost (1)		302		277		139		108
Expected return on plan assets (1)		(475)		(451)		(274)		(279)
Amortization of prior service costs/(credits) (1)		2		4		4		(2)
Recognized actuarial losses (1)		179		249		278		356
Curtailments and settlements (1)		—		—		8		17
Multi-employer plans		—		—		4		6
Other costs/(credits) (1)		—		—		9		11
Total net periodic pension (income)/cost of defined benefit plans	$	8	$	80	$	231	$	283
Cost of defined contribution plans		141		151		98		105
Total defined benefit and contribution pension plans cost recognized in the Consolidated Income Statement	$	149	$	231	$	328	$	388

(1)These components of net periodic pension cost are included in other (income) and expense in the Consolidated Income Statement.

(Dollars in millions)	U.S. Plan				Non-U.S. Plans
For the three months ended March 31:	2022		2021		2022		2021
Service cost	$	1	$	2	$	1	$	1
Interest cost (1)		18		16		9		8
Expected return on plan assets (1)		—		—		0		(1)
Amortization of prior service costs/(credits) (1)		1		1		0		0
Recognized actuarial losses (1)		2		13		1		4
Curtailments and settlements (1)		—		—		—		—
Total nonpension postretirement plans cost recognized in the Consolidated Income Statement	$	23	$	32	$	10	$	12

(1)These components of net periodic pension cost are included in other (income) and expense in the Consolidated Income Statement.

Schedule of contributions

(Dollars in millions)	Plan Contributions
For the three months ended March 31:		2022	2021
U.S. and non-U.S. nonpension postretirement benefit plans	$	120	$	106
Non-U.S. DB and multi-employer plans*		35		64
Total plan contributions	$	154	$	170

* Amounts reported net of refunds.