Pension and Postretirement Benefits

6 Months Ended

Jun. 30, 2020

Compensation And Retirement Disclosure [Abstract]

Pension and Postretirement Benefits

7. Pension and Postretirement Benefits

The estimated components of the recorded net periodic benefit cost (credit) for pension and postretirement benefits are as follows:

	Pension						Postretirement Benefits
	Three Months Ended June 30,
	2020			2019			2020			2019
	(Dollars in Millions)
Service cost	$	10.4		$	7.6		$	—		$	—
Interest cost		9.8			9.3			0.1			0.1
Expected return on assets		(14.8	)		(11.8	)		—			—
Amortization of:
Prior service cost (credit)		0.2			—			(0.2	)		(0.2	)
Actuarial loss (gain)		3.2			3.9			—			(0.1	)
Net periodic benefit cost (credit)	$	8.8		$	9.0		$	(0.1	)	$	(0.2	)

	Pension						Postretirement Benefits
	Six Months Ended June 30,
	2020			2019			2020			2019
	(Dollars in Millions)
Service cost	$	19.6		$	15.4		$	—		$	—
Interest cost		18.5			18.9			0.2			0.3
Expected return on assets		(28.6	)		(23.9	)		—			—
Amortization of:
Prior service cost (credit)		0.3			—			(0.4	)		(0.4	)
Actuarial loss (gain)		6.7			7.9			(0.1	)		(0.2	)
Net periodic benefit cost (credit)	$	16.5		$	18.3		$	(0.3	)	$	(0.3	)

The service cost component of net periodic benefit cost (credit) is included in cost of revenues – products and services and selling, general and administrative expenses. All other components are included in other nonoperating (income) and expenses, net, in the consolidated statements of earnings and comprehensive earnings.