Employee Benefit Plans

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits Disclosure

Note 9: Employee Benefit Plans

Pension and Postretirement Plans. We sponsor both funded and unfunded domestic and foreign defined benefit pension and postretirement benefit (PRB) plans and defined contribution plans.

Contributions to our plans were as follows:

	Quarter Ended June 30,				Six Months Ended June 30,
(dollars in millions)	2022		2021		2022		2021
U.S. qualified defined benefit plans	$	—	$	—	$	—	$	—
International defined benefit plans	18		14		30		21
PRB plans	4		4		9		4
Defined contribution plans	251		238		562		509

The amounts recognized in the Condensed Consolidated Balance Sheet consist of:

(dollars in millions)	June 30, 2022		December 31, 2021
Noncurrent pension assets (included in Other assets)	$	3,869	$	3,214
Current pension and PRB liabilities (included in Accrued employee compensation)	309		310
Future pension and postretirement benefit obligations	7,543		7,855

The amounts recognized in Future pension and postretirement benefit obligations consist of:

(dollars in millions)	June 30, 2022		December 31, 2021
Noncurrent pension liabilities	$	6,596	$	6,873
Noncurrent PRB liabilities	876		903
Other pension and PRB related items	71		79
Future pension and postretirement benefit obligations	$	7,543	$	7,855

The components of net periodic benefit (income) expense for our defined pension and PRB plans were as follows:

	Pension Benefits Quarter Ended June 30,				PRB Quarter Ended June 30,
(dollars in millions)	2022		2021		2022		2021
Operating expense
Service cost	$	118	$	131	$	2	$	2
Non-operating expense
Interest cost	380		313		7		6
Expected return on plan assets	(888)		(871)		(6)		(5)
Amortization of prior service credit	(41)		(42)		—		(1)
Recognized actuarial net loss (gain)	77		109		(3)		(2)
Net settlement, curtailment and special termination benefit (gain) loss	—		3		—		—
Non-service pension income	(472)		(488)		(2)		(2)
Total net periodic benefit (income) expense	$	(354)	$	(357)	$	—	$	—

	Pension Benefits Six Months Ended June 30,				PRB Six Months Ended June 30,
(dollars in millions)	2022		2021		2022		2021
Operating expense
Service cost	$	236	$	262	$	4	$	4
Non-operating expense
Interest cost	762		625		14		12
Expected return on plan assets	(1,778)		(1,739)		(11)		(10)
Amortization of prior service credit	(83)		(84)		—		(2)
Recognized actuarial net loss (gain)	154		218		(6)		(4)
Net settlement, curtailment and special termination benefit (gain) loss	(6)		3		—		—
Non-service pension income	(951)		(977)		(3)		(4)
Total net periodic benefit (income) expense	$	(715)	$	(715)	$	1	$	—

We have set aside assets in separate trusts, which we expect to be used to pay for certain nonqualified defined benefit and defined contribution plan obligations in excess of qualified plan limits. These assets are included in Other assets in our Condensed Consolidated Balance Sheet. The fair value of marketable securities held in trusts was as follows:

(dollars in millions)	June 30, 2022		December 31, 2021
Marketable securities held in trusts	$	788	$	965