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Employee Benefit Plans
 12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Employee Benefit Plans
NOTE 14—EMPLOYEE BENEFIT PLANS
Defined Contribution Plan
We sponsor a contributory Associate Savings Plan (the “Plan”) in which all full-time and part-time associates over the age of 18 are eligible to participate. We make non-elective contributions to each eligible associate’s account and match a portion of associate contributions. We also sponsor a voluntary non-qualified deferred compensation plan in which select groups of employees are eligible to participate. We make contributions to this plan based on participants’ deferral of salary, bonuses and other eligible pay. In addition, we match participants’ excess compensation (compensation over the Internal Revenue Service (“IRS”) compensation limit) less deferrals. We contributed a total of $444 million, $378 million and $350 million to these plans during the years ended December 31, 2022, 2021 and 2020, respectively.
Defined Benefit Pension and Other Postretirement Benefit Plans
We sponsor several frozen plans, including a qualified defined benefit pension plan, several non-qualified defined benefit pension plans, and a plan that provides other postretirement benefits, including medical and life insurance coverage. Our pension plans and the other postretirement benefit plan are valued using December 31 as the measurement date each year. Our policy is to amortize prior service amounts on a straight-line basis over the average remaining years of service to full eligibility for benefits of active plan participants.
The following table sets forth, on an aggregated basis, changes in the benefit obligation and plan assets, the funded status and how the funded status is recognized on our consolidated balance sheets.    
Table 14.1: Changes in Benefit Obligation and Plan Assets
Defined Pension 
Benefits		Other Postretirement
Benefits
(Dollars in millions)2022202120222021
Change in benefit obligation:
Accumulated benefit obligation as of January 1, $163 $178 $16 $21 
Service cost1 1 0 0 
Interest cost4 4 0 0 
Benefits paid(11)(12)(1)(2)
Actuarial loss (gain)(29)(8)(3)(3)
Accumulated benefit obligation as of December 31,$128 $163 $12 $16 
Change in plan assets:
Fair value of plan assets as of January 1, $273 $274 $6 $6 
Actual return on plan assets(41)10 (1)1 
Employer contributions1 1 1 1 
Benefits paid(11)(12)(1)(2)
Fair value of plan assets as of December 31, $222 $273 $5 $6 
Over (under) funded status as of December 31, $94 $110 $(7)$(10)

Defined Pension 
Benefits		Other Postretirement
Benefits
(Dollars in millions)2022202120222021
Balance sheet presentation as of December 31,
Other assets$102 $121 $0 $0 
Other liabilities(8)(11)(7)(10)
Net amount recognized as of December 31, $94 $110 $(7)$(10)
Net periodic benefit gain for our defined benefit pension plans and other postretirement benefit plan totaled $8 million, $12 million, and $8 million in 2022, 2021 and 2020, respectively. We recognized a pre-tax loss of $24 million in 2022 and pre-tax gains of $4 million in other comprehensive income for our defined benefit pension plans and other postretirement benefit plan in both 2021 and 2020.
Pre-tax amounts recognized in AOCI that have not yet been recognized as a component of net periodic benefit cost consist of net actuarial losses of $57 million and $33 million for our defined benefit pension plans as of December 31, 2022 and 2021, respectively, and net actuarial gains of $3 million for our other postretirement benefit plan as of both December 31, 2022 and 2021. There was no meaningful prior service cost recognized in AOCI.
Plan Assets and Fair Value Measurement
Plan assets are invested using a total return investment approach whereby a mix of equity securities and debt securities are used to preserve asset values, diversify risk and enhance our ability to achieve our benchmark for long-term investment return. Investment strategies and asset allocations are based on careful consideration of plan liabilities, the plan’s funded status and our financial condition. Investment performance and asset allocation are measured and monitored on a daily basis.
As of December 31, 2022 and 2021, our plan assets totaled $227 million and $279 million, respectively. We invested substantially all our plan assets in common collective trusts, which primarily consist of domestic and international equity securities, government securities and corporate and municipal bonds. Our plan assets were classified as Level 2 in the fair value hierarchy as of December 31, 2022 and 2021. For information on fair value measurements, including descriptions of Level 1, 2 and 3 of the fair value hierarchy, see “Note 16—Fair Value Measurement.”
Expected Future Benefit Payments
As of December 31, 2022, the benefits expected to be paid in the next ten years totaled $108 million for our defined pension benefit plans and $11 million for our other postretirement benefit plan, respectively.