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Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Change In Benefit Obligations, Change In Plan Assets, Funded Status, Amounts Recognized on Balance Sheet, and Amounts Recognized In Accumulated Other Comprehensive Income (Pretax) The following tables summarize benefit costs, as well as the benefit obligations, plan assets, funded status and rate assumptions associated with pension and postretirement health care and life insurance benefit plans.
Obligations and Funded Status
(dollars in millions)
PensionHealth Care and Life
At December 31,2021202020212020
Change in Benefit Obligations
Beginning of year$22,236 $21,248 $16,168 $15,669 
Service cost282 305 112 110 
Interest cost394 505 289 429 
Actuarial (gain) loss, net(605)2,308 (930)887 
Benefits paid(816)(842)(929)(927)
Curtailment and termination benefits6 — — — 
Settlements paid(1,330)(1,288)— — 
End of year20,167 22,236 14,710 16,168 
Change in Plan Assets
Beginning of year20,128 19,451 572 743 
Actual return on plan assets2,049 2,750 53 47 
Company contributions56 57 885 709 
Benefits paid(816)(842)(929)(927)
Settlements paid(1,330)(1,288)— — 
End of year20,087 20,128 581 572 
Funded Status - End of year$(80)$(2,108)$(14,129)$(15,596)

(dollars in millions)
PensionHealth Care and Life
At December 31,2021202020212020
Amounts recognized in the balance sheets
Noncurrent assets$376 $5 $— $— 
Current liabilities(55)(63)(748)(721)
Noncurrent liabilities(401)(2,050)(13,381)(14,875)
Total$(80)$(2,108)$(14,129)$(15,596)
Amounts recognized in Accumulated other comprehensive loss (pre-tax)
Prior service cost (benefit)$402 $463 $(1,889)$(2,783)
Total$402 $463 $(1,889)$(2,783)
Information for Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets
Information for pension plans with an accumulated benefit obligation in excess of plan assets follows:
(dollars in millions)
At December 31,20212020
Accumulated benefit obligation$456 $22,116 
Fair value of plan assets— 20,064 
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets
Information for pension plans with a projected benefit obligation in excess of plan assets follows:
(dollars in millions)
At December 31,20212020
Projected benefit obligation$456 $22,178 
Fair value of plan assets— 20,064 
Benefit or (Income) Cost Related to Pension and Postretirement Health Care and Life Insurance
The following table summarizes the components of net periodic benefit cost (income) related to our pension and postretirement health care and life insurance plans:
(dollars in millions)
PensionHealth Care and Life
Years Ended December 31,202120202019202120202019
Service cost - Cost of services$247 $245 $202 $94 $89 $78 
Service cost - Selling, general and administrative expense35 60 45 18 21 18 
Service cost282 305 247 112 110 96 
Amortization of prior service cost (credit)61 61 61 (894)(966)(971)
Expected return on plan assets(1,234)(1,186)(1,130)(22)(28)(37)
Interest cost394 505 695 289 429 629 
Remeasurement loss (gain), net(1,419)744 606 (960)866 (480)
Other components(2,198)124 232 (1,587)301 (859)
Total$(1,916)$429 $479 $(1,475)$411 $(763)
Other Pretax Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive (Income) Loss
Other pre-tax changes in plan assets and benefit obligations recognized in Other comprehensive (income) loss are as follows:
(dollars in millions)
PensionHealth Care and Life
At December 31,202120202019202120202019
Prior service cost (benefit)$— $— $— $— $— $(22)
Reversal of amortization items
Prior service cost (benefit)(61)(61)(61)894 966 971 
Total recognized in Other comprehensive loss (income) (pre-tax)$(61)$(61)$(61)$894 $966 $949 
Weighted Average Assumptions Used in Determining Benefit Obligations and Net Periodic Cost
The weighted-average assumptions used in determining benefit obligations follow:
PensionHealth Care and Life
At December 31,2021202020212020
Discount Rate3.00 %2.60 %2.90 %2.50 %
Rate of compensation increases3.00 %3.00 %N/AN/A
N/A - not applicable

The weighted-average assumptions used in determining net periodic cost follow:
PensionHealth Care and Life
At December 31,202120202019202120202019
Discount rate in effect for determining service cost
3.20 %3.30 %4.60 %3.00 %3.50 %4.60 %
Discount rate in effect for determining interest cost
1.90 2.40 3.80 1.80 2.80 4.00 
Expected return on plan assets6.50 6.50 6.80 4.20 4.50 4.30 
Rate of compensation increases3.00 3.00 3.00 N/AN/AN/A
N/A - not applicable
Health Care Cost Trend Rates
The assumed health care cost trend rates are as follows:
Health Care and Life
At December 31,202120202019
Weighted-average healthcare cost trend rate assumed for next year6.20 %6.20 %6.30 %
Rate to which cost trend rate gradually declines4.50 4.50 4.50 
Year the rate reaches the level it is assumed to remain thereafter202920292027
Fair Values for Plans by Asset Category
The fair values for the pension plans by asset category at December 31, 2021 are as follows:
(dollars in millions)
Asset CategoryTotalLevel 1Level 2Level 3
Cash and cash equivalents$1,221 $1,208 $13 $— 
Equity securities2,482 2,463 19 — 
Fixed income securities
U.S. Treasuries and agencies1,785 1,652 133 — 
Corporate bonds4,046 123 3,923 — 
International bonds1,407 23 1,384 — 
Other695 — 695 — 
Real estate972 — — 972 
Other
Private equity569 — — 569 
Hedge funds224 — 114 110 
Total investments at fair value13,401 5,469 6,281 1,651 
Investments measured at NAV6,686 
Total$20,087 $5,469 $6,281 $1,651 

The fair values for the pension plans by asset category at December 31, 2020 are as follows:
(dollars in millions)
Asset CategoryTotalLevel 1Level 2Level 3
Cash and cash equivalents$1,968 $1,823 $145 $— 
Equity securities1,972 1,623 347 2 
Fixed income securities
U.S. Treasuries and agencies2,039 1,756 283 — 
Corporate bonds4,110 153 3,781 176 
International bonds1,548 17 1,511 20 
Other916 — 916 — 
Real estate757 — — 757 
Other
Private equity414 — — 414 
Hedge funds244 — 106 138 
Total investments at fair value13,968 5,372 7,089 1,507 
Investments measured at NAV6,160 
Total$20,128 $5,372 $7,089 $1,507 
Health Care and Life Plans
The fair values for the other postretirement benefit plans by asset category at December 31, 2021 are as follows:
(dollars in millions)
Asset CategoryTotalLevel 1Level 2Level 3
Cash and cash equivalents$36 $— $36 $— 
Equity securities284 284 — — 
Fixed income securities
U.S. Treasuries and agencies160 150 10 — 
Corporate bonds64 50 14 — 
International bonds14 10 4 — 
Other10 — 10 — 
Total investments at fair value568 494 74 — 
Investments measured at NAV13 
Total$581 $494 $74 $— 
The fair values for the other postretirement benefit plans by asset category at December 31, 2020 are as follows:
(dollars in millions)
Asset CategoryTotalLevel 1Level 2Level 3
Cash and cash equivalents$40 $— $40 $— 
Equity securities178 178 — — 
Fixed income securities
U.S. Treasuries and agencies83 83 — — 
Corporate bonds54 54 — — 
International bonds9 9 — — 
Total investments at fair value364 324 40 — 
Investments measured at NAV208 
Total$572 $324 $40 $— 
Reconciliation of Beginning and Ending Balance of Plan Assets Measured at Fair Value
The following is a reconciliation of the beginning and ending balance of pension plan assets that are measured at fair value using significant unobservable inputs:
(dollars in millions)
Equity
Securities		Corporate
Bonds		International
Bonds		Real
Estate		Private
Equity		Hedge
Funds		Total
Balance at January 1, 2020$3 $145 $26 $810 $737 $129 $1,850 
Actual gain (loss) on plan assets5 (8)3 146 57 1 204 
Purchases (sales)(7)39 (9)(146)(134)69 (188)
Transfers out1 — — (53)(246)(61)(359)
Balance at December 31, 20202 176 20 757 414 138 1,507 
Actual gain (loss) on plan assets(1)(5)— (21)(19)1 (45)
Purchases (sales)(1)1 (4)197 147 81 421 
Transfers out— (172)(16)39 27 (110)(232)
Balance at December 31, 2021$— $— $— $972 $569 $110 $1,651 
Expected Benefit Payments to Retirees
The benefit payments to retirees are expected to be paid as follows:
(dollars in millions)
YearPension BenefitsHealth Care and Life
2022$2,049 $906 
20231,648 883 
20241,097 862 
20251,066 850 
20261,034 840 
2027 to 20315,097 4,139 
Schedule of Recorded Severance Liability
The following table provides an analysis of our severance liability:
(dollars in millions)
YearBeginning of YearCharged to
Expense		PaymentsOtherEnd of Year
2019$2,156 $260 $(1,847)$(4)$565 
2020565 309 (248)(24)602 
2021602 233 (258)(29)548