Employee Benefits

9 Months Ended

Sep. 30, 2018

Retirement Benefits [Abstract]

Employee Benefits

Employee Benefits

Net periodic benefit (income) expense for our qualified and non-qualified pension plans included the following components:

	Pension Plans
	Three Months Ended September 30,					Nine Months Ended September 30,
	2018			2017		2018		2017
	(Dollars in millions)
Service cost	$	17		16		49		47
Interest cost	99			102		296		308
Expected return on plan assets	(171		)	(166	)	(513	)	(499	)
Recognition of prior service credit	(2		)	(2	)	(6	)	(6	)
Recognition of actuarial loss	45			51		135		154
Net periodic pension benefit (income) expense	$	(12	)	1		(39	)	4

Net periodic benefit expense for our post-retirement benefit plans included the following components:

	Post-Retirement Benefit Plans
	Three Months Ended September 30,				Nine Months Ended September 30,
	2018			2017	2018		2017
	(Dollars in millions)
Service cost	$	4		4	13		13
Interest cost	24			25	73		75
Expected return on plan assets	(1		)	—	(1	)	(1	)
Recognition of prior service cost	5			5	15		15
Net periodic post-retirement benefit expense	$	32		34	100		102

Benefits paid by our qualified pension plan are paid through a trust that holds all plan assets. Based on current laws and circumstances, we do not expect any contributions to be required for our qualified pension plan during the remainder of 2018.     However, we made voluntary contributions of $500 million to the trust for our qualified pension plan during the nine months ended September 30, 2018, including $400 million during the third quarter of 2018.