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Quarterly report [Sections 13 or 15(d)]

Note 13 - Employee Benefit Plans

v3.25.1
Note 13 - Employee Benefit Plans
3 Months Ended
Mar. 31, 2025
Notes to Financial Statements Ìý
Retirement Benefits [Text Block]

13. EMPLOYEE BENEFIT PLANSÌý

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Components of the net periodic benefit costÌýfrom continuing operations for the three months ended March 31, 2025 and 2024 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 ended

Ìý Ìý

Three months ended

Ìý
Ìý Ìý

March 31,

Ìý Ìý

March 31,

Ìý
Ìý Ìý

2025

Ìý Ìý

2024

Ìý Ìý

2025

Ìý Ìý

2024

Ìý

Service cost

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

Interest cost

Ìý Ìý 22 Ìý Ìý Ìý 22 Ìý Ìý Ìý 1 Ìý Ìý Ìý 1 Ìý

Expected return on assets

Ìý Ìý (31 ) Ìý Ìý (32 ) 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 7 Ìý Ìý Ìý 8 Ìý Ìý Ìý â€� Ìý Ìý Ìý â€� Ìý

Settlement gain

Ìý Ìý (1 ) Ìý Ìý â€� Ìý Ìý Ìý â€� Ìý Ìý Ìý â€� Ìý

Net periodic benefit cost

Ìý $ 2 Ìý Ìý $ 4 Ìý Ìý $ â€� Ìý Ìý $ â€� Ìý

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During the three months ended March 31, 2025 and 2024, we made contributions to our pension and other postretirement benefit plans related to continuing operations of $8Ìýmillion and $10Ìýmillion, respectively. During the remainder of 2025, we expect to contribute an additional amount of approximately $27Ìýmillion to these plans.

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