Employee Benefits

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Employee Benefits

Employee Benefits

Defined Contribution Plans

Lumen Technologies sponsors a qualified defined contribution plan covering substantially all of our employees. Under this plan, employees may contribute a percentage of their annual compensation up to certain maximums, as defined by the plan and by the Internal Revenue Service ("IRS"). Currently, we match a percentage of our employee's contributions in cash. We recognized $32 million in expense related to this plan for the year ended December 31, 2023 and $31 million for each of the years ended December 31, 2022 and 2021.

Other defined contribution plans we sponsored were individually and in aggregate not material.

Defined Benefit Plans

We have certain contributory and non-contributory employee pension plans, which are not significant to our financial position or operating results. We recognize in our balance sheet the funded status of our defined benefit post-retirement plans, which is measured as the difference between the fair value of the plan assets and the plan benefit obligations. We are also required to recognize changes in the funded status within accumulated other comprehensive income, net of tax, to the extent such changes are not recognized in earnings as components of periodic net benefit cost. The fair value of the plan assets was $40 million and $112 million as of December 31, 2023 and 2022, respectively. The total plan benefit obligations were $39 million and $102 million as of December 31, 2023 and 2022, respectively. Therefore, the plans were fully funded as of December 31, 2023 and December 31, 2022. The decrease in these balances is primarily the result of the sale of our EMEA business.