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Employment Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Schedule of Net Benefit Costs
Components of the net (benefit) cost for the Pension Plans were as follows (in millions):
Pension Benefits
Years ended December 31,
 202120202019
Service cost$25 $21 $32 
Interest cost56 70 81 
Expected return on plan assets(176)(167)(160)
Amortization of net loss2 1 — 
Amortization of prior service credit— — (3)
Curtailment gain— — (117)
Settlement loss (gain) (1)(1)5 
      Net (benefit) cost recognized$(94)$(76)$(162)
Schedule of Changes in Projected Benefit Obligations The following tables show the change in projected benefit obligation for the Pension Plans (in millions):
 Pension Benefits
Change in Benefit ObligationDecember 31,
2021		December 31,
2020
Projected benefit obligation at beginning of period$2,499 $2,295 
Service cost25 21 
Interest cost56 70 
Actuarial loss (gain)(110)262 
Benefits paid(142)(143)
Settlements(6)(6)
   Projected benefit obligation at end of period2,322 2,499 
   Component representing future salary increases(42)(51)
      Accumulated benefit obligation at end of period$2,280 $2,448 
Schedule of Changes in Plan Assets
The following tables show the change in plan assets of the Pension Plans (in millions):
 Pension Benefits
Change in Plan AssetsDecember 31,
2021		December 31,
2020
Fair value of plan assets at beginning of period$2,916 $2,672 
Actual return (loss) on plan assets392 383 
Employer contributionsa
10 10 
Benefits paid(142)(143)
Settlements(6)(6)
      Fair value of plan assets at end of period$3,170 $2,916 
a  Employer contributions were classified as Other, Net under Operating Activities in the Company’s Consolidated Statements of Cash Flows.
Schedule of Net Funded Status
The following table shows the funded status of the Pension Plans, defined as plan assets less the projected benefit obligation (in millions):
 Pension Benefits
 December 31,
2021		December 31,
2020
Funded status (plan assets less projected benefit obligations)$848 $417 
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets The following table shows the projected benefit obligation, accumulated benefit obligation, and fair value of plan assets for the plans (in millions):
December 31,
2021		December 31,
2020
Projected benefit obligation$112 $122 
Accumulated benefit obligation$106 $114 
Fair value of plan assets$13 $19 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) The following tables show the pre-tax change in AOCI attributable to the components of the net cost and the change in benefit obligation (in millions):
 Pension Benefits
Years ended December 31,
Change in AOCI202120202019
Beginning balance$182 $228 $182 
Amortization of net loss2 1 — 
Amortization of prior service credits— — (3)
Actuarial gain (loss) 326 (46)44 
Settlements(1)(1)5 
      Ending balance$509 $182 $228 
Schedule of Accumulated Other Comprehensive Income (Loss)
Pre-tax amounts currently recognized in AOCI consist of the following (in millions):
 Pension Benefits
Years ended December 31,
 20212020
Net gain (loss)$509 $182 
Pre-tax amount recognized in AOCI$509 $182 
Defined Benefit Plan, Assumptions
The assumptions used in accounting for the Pension Plans were as follows:
 Pension Benefits
Years ended December 31,
Assumptions Used to Determine Net Cost202120202019
Discount rate2.3 %3.2 %4.2 %
Expected long-term rate of return on plan assets6.7 %6.7 %6.7 %
Rate of compensation increase3.1 %3.1 %3.5 %
 Pension Benefits
Assumptions Used to Determine Benefit ObligationsDecember 31,
2021		December 31,
2020
Discount rate2.7 %2.3 %
Rate of compensation increase3.1 %3.1 %
Sensitivity analysis of impact on future net benefit cost resulting from hypothetical change in assumptions
The following table is an estimate of the impact on future net benefit cost that could result from hypothetical changes to the most sensitive assumptions, the discount rate and expected rate of return on plan assets:
Sensitivity Analysis
 Change in 2022 Net Benefit Cost
Hypothetical Discount Rate ChangePension
50 basis point decrease$6  milliondecrease
50 basis point increase$3  milliondecrease
Hypothetical Expected Rate of Return
on Plan Assets Change		Pension
50 basis point decrease$14  millionincrease
50 basis point increase$14 milliondecrease
Schedule of Allocation of Plan Assets
The following table summarizes the investments of the funded pension plans as of December 31, 2021, based on the inputs used to value them (in millions):
Total as of
Asset CategoryDecember 31,
2021
Level 1
Inputs a
Level 2
Inputs a
Level 3
Inputs a
Cash and equivalents$9 $1 $8 $— 
Equity securitiesb
2,900 2,900 — — 
Government obligations256 256 — — 
Other fixed maturity securities5 — 5 — 
Total$3,170 $3,157 $13 $— 
a See Note 2 to the Consolidated Financial Statements under the heading “Fair Value Measurements” for a definition of each of these levels of inputs.
b As of December 31, 2021, four equity securities each exceeded 10 percent of total plan assets. These investments represent approximately 78 percent of total plan assets.

Comparative Prior Year Information
The following table summarizes the investments of the funded pension plans as of December 31, 2020, based on the inputs used to value them (in millions):
Total as of
Asset CategoryDecember 31,
2020
Level 1
Inputs a
Level 2
Inputs a
Level 3
Inputs a
Cash and equivalents$19 $1 $18 $— 
Equity securitiesb
2,634 2,634 — — 
Government obligations254 254 — — 
Other fixed maturity securities9 — 9 — 
Total$2,916 $2,889 $27 $— 
a See Note 2 to the Consolidated Financial Statements under the heading “Fair Value Measurements” for a definition of each of these levels of inputs.
b As of December 31, 2020, three equity securities each exceeded 10 percent of total plan assets.  These investments represented approximately 67 percent of total plan assets.
Schedule of Expected Benefit Payments
The following table shows expected benefit payments from the Pension Plans for the next five fiscal years and the aggregate five years thereafter (in millions):
Fiscal year
Expected Pension Plan
Benefit Paymentsa
2022$148 
2023$138 
2024$134 
2025$132 
2026$129 
2027-2031$603 
a Primarily consists of the BNSF Retirement Plan payments, which are made from the plan trust and do not represent an immediate cash outflow to the Company.