RETIREMENT-RELATED BENEFITS (Tables)

9 Months Ended

Dec. 31, 2023

RETIREMENT-RELATED BENEFITS

Components of net periodic pension cost for the defined benefit pension plans

	Three Months Ended December 31,				Nine Months Ended December 31,
(Dollars in millions)	2023		2022		2023		2022
Service cost	$	10	$	12	$	28	$	36
Interest cost*		14		9		43		27
Expected return on plan assets*		(15)		(10)		(46)		(32)
Amortization of prior service costs (credits)*		—		—		1		—
Recognized actuarial losses (gains)*		1		10		3		30
Curtailments and settlements*		3		—		3		—
Net periodic pension cost	$	14	$	20	$	33	$	61

* These components of net periodic pension cost are included in other expense (income) in the Consolidated Income Statement.