Retirement-Related Benefits (Tables)

9 Months Ended

Sep. 30, 2021

Retirement-Related Benefits

Components of net periodic cost of the retirement-related benefit plans

	Defined Benefit				Nonpension Postretirement
(Dollars in millions)	Pension Plans				Benefit Plans
For the three months ended September 30:	2021		2020		2021		2020
Service cost	$	20	$	26	$	1	$	1
Interest cost *		2		2		—		—
Expected return on plan assets *		(7)		(6)		—		—
Recognized actuarial losses (gains) *		12		9		—		—
Multi-employer plans/other costs **		1		4		—		—
Net periodic benefit cost	$	27	$	35	$	1	$	1

	Defined Benefit				Nonpension Postretirement
(Dollars in millions)	Pension Plans				Benefit Plans
For the nine months ended September 30:	2021		2020		2021		2020
Service cost	$	65	$	79	$	2	$	2
Interest cost *		5		7		1		1
Expected return on plan assets *		(18)		(18)		(1)		(1)
Recognized actuarial losses (gains) *		32		27		—		—
Multi-employer plans/other costs **		6		10		—		—
Net periodic benefit cost	$	90	$	105	$	2	$	2

*These components of net periodic benefit cost are included in other (income) and expense in the Combined Income Statement.

** Multi-employer plan costs represent required contributions for the period to multi-employer plans, which are plans sponsored by third parties. The Company recognizes expense in connection with these plans as contributions are funded.