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Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2017
Retirement Benefits [Abstract]  
Schedule of Significant Actuarial Assumptions Used to Determine Net Periodic Pension Costs
The following actuarial assumptions were used to determine net periodic pension costs for the qualified pension plans:
 
 
December 31,
 
 
2017
 
2016
 
2015
Weighted average assumed discount rate
 
4.43
%
 
4.68
%
 
4.27
%
Weighted average expected long-term rate of return on plan assets
 
7.00

 
7.00

 
7.50

Assumed long-term rate of annual compensation increases
 
4.50

 
4.50

 
4.50

Summary of the Components of Net Periodic Benefit Cost Recognized for Pension Plans
Financial data relative to qualified and nonqualified defined benefit pension plans is summarized in the following tables for the years indicated. On the Consolidated Balance Sheets, the qualified pension plan prepaid asset is recorded as a component of other assets and the nonqualified pension plans accrued liability is recorded as a component of other liabilities. The data is calculated using an actuarial measurement date of December 31.
 
 
Year Ended December 31,
(Dollars in millions)
 
2017
 
2016
 
2015
Net Periodic Pension Cost:
 
 
 
 
 
 
Service cost
 
$
200

 
$
186

 
$
176

Interest cost
 
192

 
181

 
157

Estimated return on plan assets
 
(372
)
 
(326
)
 
(327
)
Net amortization and other
 
75

 
80

 
67

Net periodic benefit cost
 
95

 
121

 
73

Pre-Tax Amounts Recognized in OCI:
 
 

 
 

 
 

Prior service credit (cost)
 
30

 

 

Net actuarial loss (gain)
 
137

 
138

 
230

Net amortization
 
(75
)
 
(80
)
 
(67
)
Net amount recognized in OCI
 
92

 
58

 
163

Total net periodic pension costs (income) recognized in total comprehensive income, pre-tax
 
$
187

 
$
179

 
$
236

Schedule of Significant Actuarial Assumptions Used to Determine Benefit Obligations
The following actuarial assumptions were used to determine benefit obligations:
 
 
December 31,
 
 
2017
 
2016
Weighted average assumed discount rate
 
3.79
%
 
4.43
%
Assumed rate of annual compensation increases
 
4.50

 
4.50

Changes in Projected Benefit Obligation
Activity in the projected benefit obligation is presented in the following table:
 
 
Qualified Plan
 
Nonqualified Plans
 
 
Year Ended December 31,
 
Year Ended December 31,
(Dollars in millions)
 
2017
 
2016
 
2017
 
2016
Projected benefit obligation, beginning of year
 
$
3,939

 
$
3,473

 
$
426

 
$
392

Service cost
 
188

 
174

 
12

 
12

Interest cost
 
173

 
163

 
19

 
18

Actuarial (gain) loss
 
576

 
152

 
77

 
15

Benefits paid
 
(102
)
 
(94
)
 
(12
)
 
(11
)
Plan amendments
 
165

 

 
(135
)
 

Acquisitions
 

 
71

 

 

Projected benefit obligation, end of year
 
$
4,939

 
$
3,939

 
$
387

 
$
426

Accumulated benefit obligation, end of year
 
$
4,198

 
$
3,403

 
$
288

 
$
363

Changes in Fair Value of Plan Assets
Activity in plan assets is presented in the following table:
 
 
Qualified Plan
 
Nonqualified Plans
 
 
Year Ended December 31,
 
Year Ended December 31,
(Dollars in millions)
 
2017
 
2016
 
2017
 
2016
Fair value of plan assets, beginning of year
 
$
5,044

 
$
4,369

 
$

 
$

Actual return on plan assets
 
888

 
356

 

 

Employer contributions
 
479

 
360

 
13

 
11

Benefits paid
 
(102
)
 
(94
)
 
(13
)
 
(11
)
Acquisitions
 

 
53

 

 

Fair value of plan assets, end of year
 
$
6,309

 
$
5,044

 
$

 
$

Funded status at end of year
 
$
1,370

 
$
1,105

 
$
(387
)
 
$
(426
)
Schedule of Pre-tax Amounts Recognized in AOCI
The following are the pre-tax amounts recognized in AOCI:
 
 
Qualified Plan
 
Nonqualified Plans
 
 
Year Ended December 31,
 
Year Ended December 31,
(Dollars in millions)
 
2017
 
2016
 
2017
 
2016
Prior service credit (cost)
 
$
(165
)
 
$

 
$
134

 
$
(1
)
Net actuarial loss
 
(1,092
)
 
(1,095
)
 
(198
)
 
(135
)
Net amount recognized
 
$
(1,257
)
 
$
(1,095
)
 
$
(64
)
 
$
(136
)
Schedule of Amounts Expected to be Amortized from AOCI Into Net Periodic Pension Cost During Next Fiscal Year
The following table presents the amount expected to be amortized from AOCI into net periodic pension cost during 2018:
(Dollars in millions)
 
Qualified Plan
 
Nonqualified Plans
Net actuarial loss
 
$
(49
)
 
$
(22
)
Prior service credit (cost)
 
(25
)
 
$
19

Net amount expected to be amortized in 2018
 
$
(74
)
 
$
(3
)
Schedule of Estimated Future Benefit Payments
The following table reflects the estimated benefit payments for the periods presented:
(Dollars in millions)
 
Qualified Plan
 
Nonqualified Plans
2018
 
$
114

 
$
15

2019
 
125

 
15

2020
 
137

 
16

2021
 
150

 
16

2022
 
164

 
17

2023-2027
 
1,042

 
101

Schedule of Fair Value of Pension Plan Assets by Three Level Fair Value Hierarchy
The fair values of certain pension plan assets by asset category are reflected in the following table:
 
 
December 31, 2017
 
December 31, 2016
(Dollars in millions)
 
Total
 
Level 1
 
Level 2
 
Total
 
Level 1
 
Level 2
Cash and cash-equivalents
 
$
67

 
$
67

 
$

 
$
179

 
$
179

 
$

U.S. equity securities
 
2,503

 
1,333

 
1,170

 
1,892

 
1,018

 
874

International equity securities
 
1,130

 
195

 
935

 
839

 
165

 
674

Fixed income securities
 
2,452

 
10

 
2,442

 
1,914

 
10

 
1,904

Total
 
$
6,152

 
$
1,605

 
$
4,547

 
$
4,824

 
$
1,372

 
$
3,452