PENSIONS AND OTHER POSTRETIREMENT BENEFITS

9 Months Ended

Sep. 30, 2023

Postemployment Benefits [Abstract]

PENSIONS AND OTHER POSTRETIREMENT BENEFITS

NOTE 8 - PENSIONS AND OTHER POSTRETIREMENT BENEFITS

We offer defined benefit pension plans, defined contribution pension plans and OPEB plans to a significant portion of our employees and retirees. Benefits are also provided through multiemployer plans for certain union members.

The following are the components of defined benefit pension and OPEB costs (credits):

DEFINED BENEFIT PENSION COSTS (CREDITS)

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2023		2022		2023		2022
Service cost	$	8	$	11	$	24	$	35
Interest cost	59		32		176		95
Expected return on plan assets	(79)		(93)		(236)		(277)
Amortization:
Prior service costs	5		1		13		1
Net actuarial loss	—		4		2		11
Net periodic benefit credits	$	(7)	$	(45)	$	(21)	$	(135)

OPEB COSTS (CREDITS)

	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2023		2022		2023		2022
Service cost	$	2	$	11	$	7	$	32
Interest cost	15		19		47		59
Expected return on plan assets	(10)		(10)		(31)		(29)
Amortization:
Prior service costs (credits)	(4)		1		(12)		1
Net actuarial gain	(36)		(3)		(109)		(9)
Net periodic benefit costs (credits)	$	(33)	$	18	$	(98)	$	54

Based on funding requirements, we made nominal defined benefit pension contributions for the three and nine months ended September 30, 2023. Based on funding requirements, we made $1 million of defined benefit pension contributions for both the three and nine months ended September 30, 2022. Based on funding requirements, we made no contributions to our VEBA trust plans for the three and nine months ended September 30, 2023. We made contributions of $24 million and $80 million to our VEBA trust plans for the three and nine months ended September 30, 2022, respectively.