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Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Employee Benefit Plans

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Note 12 - Employee Benefit Plans
3 Months Ended
Mar. 31, 2024
Notes to Financial Statements Ìý
Retirement Benefits [Text Block]

12. EMPLOYEE BENEFIT PLANSÌý

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Components of the net periodic benefit costÌýfrom continuing operations for the three months ended March 31, 2024 and 2023 were as follows (dollars in millions):

Ìý

Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý

Other postretirement

Ìý
Ìý Ìý

Defined benefit plans

Ìý Ìý

benefit plans

Ìý
Ìý Ìý

Three months

Ìý Ìý

Three months

Ìý
Ìý Ìý

ended

Ìý Ìý

ended

Ìý
Ìý Ìý

March 31,

Ìý Ìý

March 31,

Ìý
Ìý Ìý

2024

Ìý Ìý

2023

Ìý Ìý

2024

Ìý Ìý

2023

Ìý

Service cost

Ìý $ 7 Ìý Ìý $ 6 Ìý Ìý $ â€� Ìý Ìý $ â€� Ìý

Interest cost

Ìý Ìý 22 Ìý Ìý Ìý 23 Ìý Ìý Ìý 1 Ìý Ìý Ìý 1 Ìý

Expected return on assets

Ìý Ìý (32 ) Ìý Ìý (31 ) Ìý Ìý â€� Ìý Ìý Ìý â€� Ìý

Amortization of prior service benefit

Ìý Ìý (1 ) Ìý Ìý (1 ) Ìý Ìý (1 ) Ìý Ìý (1 )

Amortization of actuarial loss

Ìý Ìý 8 Ìý Ìý Ìý 8 Ìý Ìý Ìý â€� Ìý Ìý Ìý â€� Ìý

Net periodic benefit cost

Ìý $ 4 Ìý Ìý $ 5 Ìý Ìý $ â€� Ìý Ìý $ â€� Ìý

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During the three months ended March 31, 2024 and 2023, we made contributions to our pension and other postretirement benefit plans related to continuing operations of $10Ìýmillion and $11Ìýmillion, respectively. During the remainder of 2024, we expect to contribute an additional amount of approximately $23Ìýmillion to these plans.

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