Employee Benefits (Tables)

9 Months Ended

Sep. 30, 2020

Retirement Benefits [Abstract]

Components of Net Periodic Benefit Cost

The components of net periodic benefit cost for the Company’s retirement plans were:

	Three Months Ended September 30												Nine Months Ended September 30
	Pension Plans						Postretirement Welfare Plan						Pension Plans						Postretirement Welfare Plan
(Dollars in Millions)	2020			2019			2020			2019			2020			2019			2020			2019
Service cost	$	58		$	48		$	–		$	–		$	176		$	144		$	–		$	–
Interest cost		59			63			–			1			176			187			1			2
Expected return on plan assets		(101	)		(96	)		–			(1	)		(302	)		(287	)		(2	)		(2	)
Prior service cost (credit) amortization		–			–			–			(1	)		–			–			(2	)		(3	)
Actuarial loss (gain) amortization		34			24			(2	)		(1	)		101			73			(5	)		(4	)
Net periodic benefit cost (a)	$	50		$	39		$	(2	)	$	(2	)	$	151		$	117		$	(8	)	$	(7	)

(a) Service cost is included in employee benefits expense on the Consolidated Statement of Income. All other components are included in other noninterest expense on the Consolidated Statement of Income.