v3.25.2
Employee Benefit Plans
 6 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
Pension and Postretirement Plans. The Company sponsors both funded and unfunded domestic and foreign defined benefit pension and other postretirement benefit plans, and defined contribution plans. Contributions to our plans were as follows:

 Quarter Ended June 30,Six Months Ended June 30,
(dollars in millions)2025202420252024
Defined benefit plans$9 $12 $27 $24 
Defined contribution plans17 16 38 36 
Multi-employer pension and postretirement plans42 42 81 82 

The following table illustrates the components of net periodic benefit cost for the Company's defined benefit pension plans:

 Quarter Ended June 30,Six Months Ended June 30,
(dollars in millions)2025202420252024
Service cost$9 $8 $17 $16 
Interest cost8 7 16 15 
Expected return on plan assets(8)(8)(17)(16)
Recognized actuarial net loss— — 1 — 
Total net periodic benefit cost$9 $7 $17 $15 
Postretirement Benefit Plans. The Company sponsors postretirement benefit plans that provide health benefits to eligible retirees. The postretirement plans are unfunded. The net periodic benefit cost was less than $1 million for the quarters and six months ended June 30, 2025 and 2024.
Stock-based Compensation. The Company adopted the 2020 Long-Term Incentive Plan (the "Plan") effective April 3, 2020. As of June 30, 2025, approximately 18 million shares remain available for awards under the Plan.

The Company measures the cost of all share-based payments, including stock options, at fair value on the grant date and recognizes this cost in the Condensed Consolidated Statements of Operations over the award's applicable vesting period. A forfeiture rate assumption is applied on grant date to adjust the expense recognition for awards that are not expected to vest.

Stock-based compensation expense and the resulting tax benefits were as follows:

Quarter Ended June 30,Six Months Ended June 30,
(dollars in millions)2025202420252024
Stock-based compensation expense (Share Based)$23 $20 $44 $36 
Less: future tax benefit(2)(2)(4)(4)
Stock-based compensation expense, net of tax$21 $18 $40 $32 

As of June 30, 2025, following our annual grant issuance on February 4, 2025, there was approximately $133 million of total unrecognized compensation cost related to non-vested equity awards granted under the Plan. This cost is expected to be recognized ratably over a weighted-average period of 1.9 years.