The following table summarizes the changes in benefit obligations and plan assets for the years ended December 31, and the funded status and amounts recognized in the Consolidated Balance Sheet at December 31 for the retirement plans:
| Pension Plans | Postretirement Welfare Plan |
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| (Dollars in Millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
|
Change In Projected Benefit Obligation |
||||||||||||||||||
|
Benefit obligation at beginning of measurement period |
$ | 4,096 | $ | 3,261 | $ | 142 | $ | 170 | ||||||||||
|
Service cost |
168 | 129 | 3 | 5 | ||||||||||||||
|
Interest cost |
170 | 168 | 4 | 7 | ||||||||||||||
|
Participants’ contributions |
– | – | 10 | 10 | ||||||||||||||
|
Plan amendments |
– | – | (35 | ) | – | |||||||||||||
|
Actuarial loss (gain) |
(388 | ) | 681 | (2 | ) | (26 | ) | |||||||||||
|
Lump sum settlements |
(34 | ) | (33 | ) | – | – | ||||||||||||
|
Benefit payments |
(117 | ) | (110 | ) | (24 | ) | (26 | ) | ||||||||||
|
Federal subsidy on benefits paid |
– | – | 2 | 2 | ||||||||||||||
|
Benefit obligation at end of measurement period (a) |
$ | 3,895 | $ | 4,096 | $ | 100 | $ | 142 | ||||||||||
|
Change In Fair Value Of Plan Assets |
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|
Fair value at beginning of measurement period |
$ | 2,321 | $ | 2,103 | $ | 105 | $ | 120 | ||||||||||
|
Actual return on plan assets |
343 | 305 | – | – | ||||||||||||||
|
Employer contributions |
318 | 56 | 1 | 1 | ||||||||||||||
|
Participants’ contributions |
– | – | 10 | 10 | ||||||||||||||
|
Lump sum settlements |
(34 | ) | (33 | ) | – | – | ||||||||||||
|
Benefit payments |
(117 | ) | (110 | ) | (24 | ) | (26 | ) | ||||||||||
|
Fair value at end of measurement period |
$ | 2,831 | $ | 2,321 | $ | 92 | $ | 105 | ||||||||||
|
Funded (Unfunded) Status |
$ | (1,064 | ) | $ | (1,775 | ) | $ | (8 | ) | $ | (37 | ) | ||||||
|
Components Of The Consolidated Balance Sheet |
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|
Current benefit liability |
$ | (20 | ) | $ | (23 | ) | $ | – | $ | – | ||||||||
|
Noncurrent benefit liability |
(1,044 | ) | (1,752 | ) | (8 | ) | (37 | ) | ||||||||||
|
Recognized amount |
$ | (1,064 | ) | $ | (1,775 | ) | $ | (8 | ) | $ | (37 | ) | ||||||
|
Accumulated Other Comprehensive Income (Loss), Pretax |
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|
Net actuarial gain (loss) |
$ | (1,333 | ) | $ | (2,152 | ) | $ | 75 | $ | 84 | ||||||||
|
Net prior service credit (cost) |
16 | 21 | 34 | – | ||||||||||||||
|
Recognized amount |
$ | (1,317 | ) | $ | (2,131 | ) | $ | 109 | $ | 84 | ||||||||
| (a) | At December 31, 2013 and 2012, the accumulated benefit obligation for all pension plans was $3.6 billion and $3.8 billion, respectively. |