Employee Benefits (Tables)

3 Months Ended

Mar. 31, 2021

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 March 31
	Pension Plans						Postretirement Welfare Plan
(Dollars in Millions)	2021			2020			2021			2020
Service cost	$	66		$	59		$	—		$	—
Interest cost		55			58			—			1
Expected return on plan assets		(112	)		(101	)		—			(1	)
Prior service cost (credit) amortization		—			—			(1	)		(1	)
Actuarial loss (gain) amortization		42			34			(2	)		(2	)
Net periodic benefit cost (a)	$	51		$	50		$	(3	)	$	(3	)

(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.