PENSIONS AND OTHER POSTRETIREMENT BENEFITS

6 Months Ended

Jun. 30, 2024

Postemployment Benefits [Abstract]

PENSIONS AND OTHER POSTRETIREMENT BENEFITS

NOTE 8 - PENSIONS AND OTHER POSTRETIREMENT BENEFITS

We offer defined benefit pension plans, defined contribution pension plans and OPEB plans to a significant portion of our employees and retirees. Benefits are also provided through multiemployer plans for certain union members.

The following are the components of defined benefit pension and OPEB costs (credits):

DEFINED BENEFIT PENSION COSTS (CREDITS)

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2024		2023		2024		2023
Service cost	$	7	$	8	$	14	$	16
Interest cost	54		58		109		117
Expected return on plan assets	(80)		(78)		(160)		(157)
Amortization:
Prior service costs	4		4		8		8
Net actuarial loss	—		1		—		2
Net periodic benefit credits	$	(15)	$	(7)	$	(29)	$	(14)

OPEB COSTS (CREDITS)

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2024		2023		2024		2023
Service cost	$	2	$	3	$	4	$	5
Interest cost	13		16		25		32
Expected return on plan assets	(10)		(10)		(21)		(21)
Termination benefits1	—		—		2		—
Amortization:
Prior service credits	(4)		(4)		(8)		(8)
Net actuarial gain	(39)		(37)		(77)		(73)
Net periodic benefit credits	$	(38)	$	(32)	$	(75)	$	(65)
1 The termination benefits relate to the announcement of the indefinite idle of our Weirton tinplate production plant.

Based on funding requirements, we made $16 million of defined benefit pension contributions for both the three and six months ended June 30, 2024, respectively, and no defined benefit pension contributions for the three and six months ended June 30, 2023. Based on funding requirements, we made no contributions to our voluntary employee benefit association trust plans for both the three and six months ended June 30, 2024 and 2023.