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Pension and Postretirement Benefits (Tables)
6 Months Ended
Jun. 30, 2023
Retirement Benefits [Abstract]  
Schedule of Components of Net Periodic Benefit Cost (Credit)

The net periodic benefit cost (credit) for pension and postretirement benefits includes the following components:

 

 

 

Pension

 

 

Postretirement Benefits

 

 

 

Three Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

(Dollars in Millions)

 

Service cost

 

$

9.3

 

 

$

14.0

 

 

$

 

 

$

 

Interest cost

 

 

14.6

 

 

 

11.9

 

 

 

0.2

 

 

 

0.1

 

Expected return on assets

 

 

(20.3

)

 

 

(22.5

)

 

 

 

 

 

 

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

Prior service cost (credit)

 

 

1.7

 

 

 

1.4

 

 

 

(0.1

)

 

 

(0.2

)

Actuarial loss (gain)

 

 

0.2

 

 

 

1.2

 

 

 

(0.2

)

 

 

(0.1

)

Net periodic benefit cost (credit)

 

$

5.5

 

 

$

6.0

 

 

$

(0.1

)

 

$

(0.2

)

 

 

 

Pension

 

 

Postretirement Benefits

 

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

(Dollars in Millions)

 

Service cost

 

$

16.4

 

 

$

24.0

 

 

$

 

 

$

 

Interest cost

 

 

25.7

 

 

 

20.6

 

 

 

0.2

 

 

 

0.2

 

Expected return on assets

 

 

(35.7

)

 

 

(38.7

)

 

 

 

 

 

 

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

Prior service cost (credit)

 

 

2.9

 

 

 

2.5

 

 

 

(0.1

)

 

 

(0.4

)

Actuarial loss (gain)

 

 

0.3

 

 

 

2.0

 

 

 

(0.3

)

 

 

(0.1

)

Net periodic benefit cost (credit)

 

$

9.6

 

 

$

10.4

 

 

$

(0.2

)

 

$

(0.3

)