v3.26.1
Employee Benefit Plans
 6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Employee Benefit Plans
Note 10: Employee Benefit Plans
Pension and Postretirement Plans. We sponsor both funded and unfunded domestic and foreign defined benefit pension and postretirement benefit (PRB) plans and defined contribution plans.
Contributions to our plans were as follows:
 Quarter Ended June 30,Six Months Ended June 30,
(dollars in millions)2026202520262025
Defined contribution plans$357 $340 $820 $741 
The amounts recognized in the Condensed Consolidated Balance Sheet consist of:
(dollars in millions)June 30, 2026December 31, 2025
Non-current pension assets (included in Other assets)$2,918 $2,339 
Current pension and PRB liabilities (included in Accrued employee compensation)227 228 
Future pension and postretirement benefit obligations1,956 2,067 
The amounts recognized in Future pension and postretirement benefit obligations consist of:
(dollars in millions)June 30, 2026December 31, 2025
Non-current pension liabilities$1,415 $1,510 
Non-current PRB liabilities470 501 
Other pension and PRB related items71 56 
Future pension and postretirement benefit obligations$1,956 $2,067 
The components of net periodic income for our defined pension plans were as follows:
 
Quarter Ended June 30,
Six Months Ended June 30,
(dollars in millions)2026202520262025
Operating expense
Service cost$41 $42 $82 $84 
Non-operating expense (income)
Interest cost509 586 1,014 1,169 
Expected return on plan assets(836)(921)(1,672)(1,838)
Amortization of prior service credit(32)(36)(64)(75)
Recognized actuarial net loss11 5 22 10 
 Net settlement, curtailment, and special termination benefit loss (gain)2 14 (2)14 
Non-service pension income(346)(352)(702)(720)
Total net periodic pension income$(305)$(310)$(620)$(636)
We have set aside assets in separate trusts, which we expect to be used to pay for certain nonqualified defined benefit and defined contribution plan obligations in excess of qualified plan limits. These assets are included in Other assets in our Condensed Consolidated Balance Sheet. The fair value of marketable securities held in trusts was as follows:
(dollars in millions)June 30, 2026December 31, 2025
Marketable securities held in trusts$711 $750