Pension Benefits

9 Months Ended

Sep. 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 September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
	(Dollars in Millions)
Service cost	$	10		$	8		$	29		$	25
Interest cost		14			13			41			39
Expected return on assets		(20	)		(18	)		(59	)		(54	)
Amortization of:
Prior service cost		2			2			5			4
Actuarial loss		—			—			1			—
Net periodic benefit cost	$	6		$	5		$	17		$	14

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.