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Pension Benefits
 6 Months Ended
Jun. 30, 2024
Retirement Benefits [Abstract]  
Pension Benefits
8.
Pension Benefits

The net periodic benefit cost for pension benefits includes the following components:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

(Dollars in Millions)

 

Service cost

 

$

10

 

 

$

9

 

 

$

19

 

 

$

16

 

Interest cost

 

 

15

 

 

 

15

 

 

 

28

 

 

 

26

 

Expected return on assets

 

 

(21

)

 

 

(20

)

 

 

(39

)

 

 

(36

)

Amortization of prior service cost

 

 

2

 

 

 

2

 

 

 

3

 

 

 

4

 

Net periodic benefit cost

 

$

6

 

 

$

6

 

 

$

11

 

 

$

10

 

The components of net periodic benefit cost, other than service cost, are included in the line item Other nonoperating income, net, in the consolidated statements of earnings and comprehensive earnings. Based on the roles of the employees, service cost is included in the Cost of revenues or Selling, general and administrative expenses line items in the consolidated statements of earnings and comprehensive earnings.