v3.26.1
Employee Benefit Plans
 6 Months Ended
Jun. 30, 2026
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)2026202520262025
Defined benefit plans$10 $9 $21 $27 
Defined contribution plans19 17 41 38 
Multi-employer pension and postretirement plans44 42 83 81 

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)2026202520262025
Service cost$9 $9 $18 $17 
Interest cost10 8 19 16 
Expected return on plan assets(9)(8)(18)(17)
Recognized actuarial net loss1 — 1 1 
Total net periodic benefit cost$11 $9 $20 $17 

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, 2026 and 2025.
Stock-based Compensation. The Company adopted the 2020 Long-Term Incentive Plan (the "Plan") effective April 3, 2020. As of June 30, 2026, approximately 16 million shares remain available for awards under the Plan.

The Company measures the cost of all share-based awards, 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)2026202520262025
Stock-based compensation expense (Share Based)$20 $23 $39 $44 
Less: future tax benefit(3)(2)(4)(4)
Stock-based compensation expense, net of tax$17 $21 $35 $40 

As of June 30, 2026, following our annual equity award grant issuance on February 3, 2026, there was approximately $114 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 1.8 years.