Benefit Plans

6 Months Ended

Jun. 30, 2025

Retirement Benefits [Abstract]

Benefit Plans

Benefit Plans

The components of net periodic (benefit) cost for defined benefit pension plans are summarized in the following table:

		Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in millions)	Income Statement Location	2025		2024		2025		2024
Service cost(1)	Personnel expense / Net income from discontinued operations	$	69	$	84	$	137	$	180
Interest cost	Other expense	114		112		228		220
Estimated return on plan assets	Other expense	(242)		(238)		(485)		(482)
Amortization and other	Other expense	—		—		—		1
Net periodic (benefit) cost		$	(59)	$	(42)	$	(120)	$	(81)

(1)Includes $2 million and $10 million for the three and six months ended June 30, 2024, respectively, of service cost reported in net income from discontinued operations for the qualified defined benefit pension plan for employees of TIH.

Truist may make contributions to the qualified pension plans up to the maximum amount deductible for federal income tax purposes. Truist did not make a discretionary contribution to the qualified pension plan during the six months ended June 30, 2025.