EMPLOYEE BENEFIT PLANS (Tables)

3 Months Ended

Mar. 31, 2026

Components of net periodic pension expense for the Company’s plans were as follows:


	Three Months Ended March 31,
		2026		2025
		(in millions)
Service cost		$	8	$	8
Interest cost		28		28
Expected return on assets		(33)		(34)
Prior period service cost amortization		(1)		(1)

Net amortization		15		12
Impact of settlement (1)		—		21
Net periodic pension expense		$	17	$	34

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(1)During the three months ended March 31, 2025, AB settled all future obligations under their defined benefits retirement plan and transferred the remaining benefit obligations to a qualified third party insurance provider under a group annuity contract, and as a result recognized an initial non-cash settlement of approximately $21 million. The plan was formally terminated and the trust was closed effective September 30, 2025.