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Quarterly report pursuant to Section 13 or 15(d)

Note 11 - Employee Benefit Plans

v3.23.1
Note 11 - Employee Benefit Plans
3 Months Ended
Mar. 31, 2023
Notes to Financial Statements Ìý
Retirement Benefits [Text Block]

11. EMPLOYEE BENEFIT PLANSÌý

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Components of the net periodic benefit (credit) costÌýfrom continuing operations for the three months ended March 31, 2023 and 2022 were as follows (dollars in millions):

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ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ Corporation

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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

Ìý Ìý

Three months

Ìý
Ìý Ìý

ended

Ìý Ìý

ended

Ìý
Ìý Ìý

March 31,

Ìý Ìý

March 31,

Ìý
Ìý Ìý

2023

Ìý Ìý

2022

Ìý Ìý

2023

Ìý Ìý

2022

Ìý

Service cost

Ìý $ 6 Ìý Ìý $ 11 Ìý Ìý $ â€� Ìý Ìý $ â€� Ìý

Interest cost

Ìý Ìý 23 Ìý Ìý Ìý 13 Ìý Ìý Ìý 1 Ìý Ìý Ìý â€� Ìý

Expected return on assets

Ìý Ìý (31 ) Ìý Ìý (38 ) 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 8 Ìý Ìý Ìý 12 Ìý Ìý Ìý â€� Ìý Ìý Ìý 1 Ìý

Net periodic benefit cost (credit)

Ìý $ 5 Ìý Ìý $ (3 ) Ìý $ â€� Ìý Ìý $ â€� Ìý

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ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International

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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

Ìý Ìý

Three months

Ìý
Ìý Ìý

ended

Ìý Ìý

ended

Ìý
Ìý Ìý

March 31,

Ìý Ìý

March 31,

Ìý
Ìý Ìý

2023

Ìý Ìý

2022

Ìý Ìý

2023

Ìý Ìý

2022

Ìý

Service cost

Ìý $ 6 Ìý Ìý $ 11 Ìý Ìý $ â€� Ìý Ìý $ â€� Ìý

Interest cost

Ìý Ìý 23 Ìý Ìý Ìý 13 Ìý Ìý Ìý 1 Ìý Ìý Ìý â€� Ìý

Expected return on assets

Ìý Ìý (31 ) Ìý Ìý (38 ) 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 8 Ìý Ìý Ìý 12 Ìý Ìý Ìý â€� Ìý Ìý Ìý 1 Ìý

Net periodic benefit cost (credit)

Ìý $ 5 Ìý Ìý $ (3 ) Ìý $ â€� Ìý Ìý $ â€� Ìý

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During both of the three months ended March 31, 2023 and 2022, we made contributions to our pension and other postretirement benefit plans related to continuing operations of $11Ìýmillion. During the remainder of 2023, we expect to contribute an additional amount of approximately $28Ìýmillion to these plans.

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