Note 5 - Retirement Plans (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
| Notes Tables |
|
| Schedule of Net Funded Status [Table Text Block] |
| Funded Status |
|
|
|
|
|
|
|
|
| Millions |
|
2022 |
|
|
2021 |
|
| Projected Benefit Obligation |
|
|
|
|
|
|
|
|
| Projected benefit obligation at beginning of year |
|
$ |
5,296 |
|
|
$ |
5,658 |
|
| Service cost |
|
|
93 |
|
|
|
110 |
|
| Interest cost |
|
|
123 |
|
|
|
104 |
|
| Actuarial (gain)/loss |
|
|
(1,557 |
) |
|
|
(346 |
) |
| Gross benefits paid |
|
|
(230 |
) |
|
|
(230 |
) |
| Projected benefit obligation at end of year |
|
$ |
3,725 |
|
|
$ |
5,296 |
|
| Plan Assets |
|
|
|
|
|
|
|
|
| Fair value of plan assets at beginning of year |
|
$ |
5,554 |
|
|
$ |
5,016 |
|
| Actual (loss)/return on plan assets |
|
|
(992 |
) |
|
|
737 |
|
| Non-qualified plan benefit contributions |
|
|
31 |
|
|
|
31 |
|
| Gross benefits paid |
|
|
(230 |
) |
|
|
(230 |
) |
| Fair value of plan assets at end of year |
|
$ |
4,363 |
|
|
$ |
5,554 |
|
| Funded status at end of year |
|
$ |
638 |
|
|
$ |
258 |
|
|
| Schedule of Amounts Recognized in Balance Sheet [Table Text Block] |
| Millions |
|
2022 |
|
|
2021 |
|
| Noncurrent assets |
|
$ |
1,033 |
|
|
$ |
807 |
|
| Current liabilities |
|
|
(31 |
) |
|
|
(31 |
) |
| Noncurrent liabilities |
|
|
(364 |
) |
|
|
(518 |
) |
| Net amounts recognized at end of year |
|
$ |
638 |
|
|
$ |
258 |
|
|
| Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] |
| Millions |
|
2022 |
|
|
2021 |
|
|
2020 |
|
| Net actuarial (loss)/gain |
|
$ |
272 |
|
|
$ |
813 |
|
|
$ |
(408 |
) |
| Amortization of: |
|
|
|
|
|
|
|
|
|
|
|
|
| Actuarial loss |
|
|
86 |
|
|
|
141 |
|
|
|
104 |
|
| Total |
|
$ |
358 |
|
|
$ |
954 |
|
|
$ |
(304 |
) |
|
| Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block] |
| Underfunded Accumulated Benefit Obligation |
|
|
|
|
|
|
|
|
| Millions |
|
2022 |
|
|
2021 |
|
| Projected benefit obligation |
|
$ |
394 |
|
|
$ |
549 |
|
| Accumulated benefit obligation |
|
$ |
382 |
|
|
$ |
513 |
|
| Fair value of plan assets |
|
|
- |
|
|
|
- |
|
| Underfunded accumulated benefit obligation |
|
$ |
(382 |
) |
|
$ |
(513 |
) |
|
| Defined Benefit Plan, Assumptions [Table Text Block] |
| Percentages |
|
2022 |
|
|
2021 |
|
| Discount rate |
|
|
5.21 |
% |
|
|
2.80 |
% |
| Compensation increase |
|
|
4.10 |
% |
|
|
4.30 |
% |
| Percentages |
|
2022 |
|
|
2021 |
|
|
2020 |
|
| Discount rate for benefit obligations |
|
|
2.80 |
% |
|
|
2.42 |
% |
|
|
3.26 |
% |
| Discount rate for interest on benefit obligations |
|
|
2.40 |
% |
|
|
1.90 |
% |
|
|
2.89 |
% |
| Discount rate for service cost |
|
|
2.91 |
% |
|
|
2.61 |
% |
|
|
3.42 |
% |
| Discount rate for interest on service cost |
|
|
2.86 |
% |
|
|
2.53 |
% |
|
|
3.36 |
% |
| Expected return on plan assets |
|
|
6.25 |
% |
|
|
6.25 |
% |
|
|
7.00 |
% |
| Compensation increase |
|
|
4.10 |
% |
|
|
4.40 |
% |
|
|
4.10 |
% |
|
| Schedule of Net Benefit Costs [Table Text Block] |
| Millions |
|
2022 |
|
|
2021 |
|
|
2020 |
|
| Net Periodic Pension Cost: |
|
|
|
|
|
|
|
|
|
|
|
|
| Service cost |
|
$ |
93 |
|
|
$ |
110 |
|
|
$ |
91 |
|
| Interest cost |
|
|
123 |
|
|
|
104 |
|
|
|
137 |
|
| Expected return on plan assets |
|
|
(293 |
) |
|
|
(270 |
) |
|
|
(282 |
) |
| Amortization of: |
|
|
|
|
|
|
|
|
|
|
|
|
| Actuarial loss |
|
|
86 |
|
|
|
141 |
|
|
|
104 |
|
| Net periodic pension cost |
|
$ |
9 |
|
|
$ |
85 |
|
|
$ |
50 |
|
|
| Cash Contributions for Qualified Pension Plan, Benefit Payments for Non Qualified OPEB Plans [Table Text Block] |
| Millions |
|
Qualified |
|
|
Non-qualified |
|
| 2022 |
|
$ |
- |
|
|
$ |
31 |
|
| 2021 |
|
|
- |
|
|
|
31 |
|
|
| Schedule of Expected Benefit Payments [Table Text Block] |
| Millions |
|
|
|
|
| 2023 |
|
$ |
230 |
|
| 2024 |
|
|
228 |
|
| 2025 |
|
|
227 |
|
| 2026 |
|
|
228 |
|
| 2027 |
|
|
229 |
|
| Years 2028 - 2032 |
|
|
1,172 |
|
|
| Schedule of Allocation of Plan Assets [Table Text Block] |
| |
|
|
Percentage of Plan Assets |
|
| |
Target |
December 31, |
|
| |
Allocation 2023 |
2022 |
|
|
2021 |
|
| Equity securities |
|
|
20% to 30% |
|
|
|
48 |
% |
|
|
57 |
% |
| Debt securities |
|
|
70% to 80% |
|
|
|
51 |
|
|
|
42 |
|
| Real estate |
|
|
0% to 2% |
|
|
|
1 |
|
|
|
1 |
|
| Total |
|
|
|
100 |
% |
|
|
100 |
% |
|
| Defined Benefit Plan, Plan Assets, Category [Table Text Block] |
| |
Quoted Prices |
Significant |
|
|
|
| |
in Active |
Other |
Significant |
|
|
| |
Markets for |
Observable |
Unobservable |
|
|
| |
Identical Inputs |
Inputs |
Inputs |
|
|
| Millions |
(Level 1) |
(Level 2) |
(Level 3) |
Total |
|
| Plan assets at fair value: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Temporary cash investments |
|
$ |
1 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1 |
|
| Registered investment companies [a] |
|
|
6 |
|
|
|
- |
|
|
|
- |
|
|
|
6 |
|
| Federal government securities |
|
|
- |
|
|
|
803 |
|
|
|
- |
|
|
|
803 |
|
| Bonds and debentures |
|
|
- |
|
|
|
1,069 |
|
|
|
- |
|
|
|
1,069 |
|
| Corporate stock |
|
|
1,104 |
|
|
|
7 |
|
|
|
- |
|
|
|
1,111 |
|
| Total plan assets at fair value |
|
$ |
1,111 |
|
|
$ |
1,879 |
|
|
$ |
- |
|
|
$ |
2,990 |
|
| Plan assets at NAV: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Registered investment companies [b] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
68 |
|
| Venture capital and buyout partnerships |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
611 |
|
| Real estate funds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
37 |
|
| Collective trust and other funds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
622 |
|
| Total plan assets at NAV |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,338 |
|
| Other assets/(liabilities) [c] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
35 |
|
| Total plan assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
4,363 |
|
| |
Quoted Prices |
Significant |
|
|
|
| |
in Active |
Other |
Significant |
|
|
| |
Markets for |
Observable |
Unobservable |
|
|
| |
Identical Inputs |
Inputs |
Inputs |
|
|
| Millions |
(Level 1) |
(Level 2) |
(Level 3) |
Total |
|
| Plan assets at fair value: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Temporary cash investments |
|
$ |
9 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
9 |
|
| Registered investment companies [a] |
|
|
10 |
|
|
|
- |
|
|
|
- |
|
|
|
10 |
|
| Federal government securities |
|
|
- |
|
|
|
742 |
|
|
|
- |
|
|
|
742 |
|
| Bonds and debentures |
|
|
- |
|
|
|
1,116 |
|
|
|
- |
|
|
|
1,116 |
|
| Corporate stock |
|
|
1,980 |
|
|
|
10 |
|
|
|
- |
|
|
|
1,990 |
|
| Total plan assets at fair value |
|
$ |
1,999 |
|
|
$ |
1,868 |
|
|
$ |
- |
|
|
$ |
3,867 |
|
| Plan assets at NAV: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Registered investment companies [b] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
185 |
|
| Venture capital and buyout partnerships |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
710 |
|
| Real estate funds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
48 |
|
| Collective trust and other funds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
756 |
|
| Total plan assets at NAV |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,699 |
|
| Other assets/(liabilities) [c] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(12 |
) |
| Total plan assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
5,554 |
|
|