EMPLOYEE BENEFITS (Tables)

12 Months Ended

Dec. 31, 2024

Retirement Benefits [Abstract]

Changes in projected benefit obligations, fair value of plan assets, and funded status of plan

The following table presents changes in the fair value of the Company’s Pension Plan assets, projected benefit obligation, funded status, and accumulated benefit obligation:

	Year Ended December 31,
	Qualified Plans		Non-Qualified Plans
(dollars in millions)	2024	2023	2024	2023
Fair value of plan assets as of January 1	$1,281	$1,182	$—	$—
Return on plan assets	86	169	—	—
Employer contributions	—	—	20	5
Settlements	—	—	(11)	—
Benefits and administrative expenses paid	(67)	(70)	(9)	(5)
Fair value of plan assets as of December 31	1,300	1,281	—	—
Projected benefit obligation	828	880	84	99
Pension asset (obligation)	$472	$401	($84)	($99)
Accumulated benefit obligation	$828	$880	$84	$99

Schedule of amounts recognized in other comprehensive income (loss)

The following table presents the components of net periodic benefit cost (income) and other changes in plan assets and benefit obligations recognized in OCI for the Company’s Pension Plans:

	Year Ended December 31,
	Qualified Plans			Non-Qualified Plans			Total
(dollars in millions)	2024	2023	2022	2024	2023	2022	2024	2023	2022
Service cost	$3	$4	$3	$—	$—	$—	$3	$4	$3
Interest cost	45	46	34	5	5	3	50	51	37
Expected return on plan assets	(97)	(92)	(93)	—	—	—	(97)	(92)	(93)
Amortization of actuarial loss	13	15	11	1	2	3	14	17	14
Settlement	—	—	—	3	—	—	3	—	—
Net periodic benefit cost (income)(1)	(36)	(27)	(45)	9	7	6	(27)	(20)	(39)
Net actuarial loss (gain)	(23)	(44)	71	(3)	1	(19)	(26)	(43)	52
Amortization of actuarial loss	(13)	(15)	(11)	(1)	(2)	(3)	(14)	(17)	(14)
Settlement	—	—	—	(3)	—	—	(3)	—	—
Total recognized in OCI	(36)	(59)	60	(7)	(1)	(22)	(43)	(60)	38
Total recognized in net periodic benefit cost (income) and OCI	($72)	($86)	$15	$2	$6	($16)	($70)	($80)	($1)

(1) In the Consolidated Statements of Operations, service cost is presented in salaries and employee benefits and all other components of net periodic benefit cost (income) are presented in other operating expense.

Schedule of expected benefit payments

The following table presents the expected future benefit payments for the Company’s Pension Plans:

	(dollars in millions)
Expected benefit payments by fiscal year ending:
December 31, 2025	$72
December 31, 2026	73
December 31, 2027	74
December 31, 2028	73
December 31, 2029	73
December 31, 2030 - 2034	352