Benefit Plans

9 Months Ended

Sep. 30, 2023

Retirement Benefits [Abstract]

Benefit Plans

Benefit Plans

Components of Net Periodic Benefit Cost (Income)

Net periodic benefit cost (income) consisted of the following:

	Pension				Postretirement				Pension				Postretirement
	For the Nine Months Ended September 30,								For the Three Months Ended September 30,
(in millions)	2023		2022		2023		2022		2023		2022		2023		2022
Service cost	$	29	$	48	$	11	$	17	$	9	$	16	$	3	$	7
Interest cost	250		155		49		31		84		51		15		11
Expected return on plan assets	(364)		(370)		(5)		(10)		(121)		(123)		(1)		(4)
Amortization:
Net loss (gain)	3		72		(2)		14		1		24		(2)		6
Prior service cost (credit)	4		5		(30)		(34)		1		2		(10)		(11)
Net periodic benefit cost (income)	$	(78)	$	(90)	$	23	$	18	$	(26)	$	(30)	$	5	$	9

Employer Contributions

We make contributions to our pension plans to the extent that the contributions are tax deductible and pay benefits that relate to plans for salaried employees that cannot be funded under Internal Revenue Service (“IRS”) regulations. We made employer contributions of $14 million to our pension plans and did not make any contributions to our postretirement plans during the nine months ended September 30, 2023. Currently, we anticipate making additional employer contributions of up to approximately $10 million to our pension plans and no contributions to our postretirement plans in 2023. However, the foregoing estimates of 2023 contributions to our pension and postretirement plans are subject to change as a result of changes in tax and other benefit laws, changes in interest rates, as well as asset performance significantly above or below the assumed long-term rate of return for each respective plan.