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Pension and Postretirement Benefits (Tables)
9 Months Ended
Sep. 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 September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

(Dollars in Millions)

 

Service cost

 

$

8.2

 

 

$

12.0

 

 

$

 

 

$

 

Interest cost

 

 

12.8

 

 

 

10.3

 

 

 

0.1

 

 

 

0.1

 

Expected return on assets

 

 

(17.9

)

 

 

(19.3

)

 

 

 

 

 

 

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

Prior service cost (credit)

 

 

1.5

 

 

 

1.3

 

 

 

(0.1

)

 

 

(0.2

)

Actuarial loss (gain)

 

 

0.2

 

 

 

1.0

 

 

 

(0.1

)

 

 

(0.1

)

Settlement charge

 

 

 

 

 

4.5

 

 

 

 

 

 

 

Net periodic benefit cost (credit)

 

$

4.8

 

 

$

9.8

 

 

$

(0.1

)

 

$

(0.2

)

 

 

 

Pension

 

 

Postretirement Benefits

 

 

 

Nine Months Ended September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

(Dollars in Millions)

 

Service cost

 

$

24.6

 

 

$

36.1

 

 

$

 

 

$

 

Interest cost

 

 

38.5

 

 

 

30.9

 

 

 

0.4

 

 

 

0.2

 

Expected return on assets

 

 

(53.6

)

 

 

(58.0

)

 

 

 

 

 

 

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

Prior service cost (credit)

 

 

4.4

 

 

 

3.7

 

 

 

(0.2

)

 

 

(0.5

)

Actuarial loss (gain)

 

 

0.5

 

 

 

3.0

 

 

 

(0.5

)

 

 

(0.2

)

Settlement charge

 

 

 

 

 

4.5

 

 

 

 

 

 

 

Net periodic benefit cost (credit)

 

$

14.4

 

 

$

20.2

 

 

$

(0.3

)

 

$

(0.5

)