Employee Benefit Plans

6 Months Ended

Jun. 30, 2025

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)	2025		2024		2025		2024
U.S. qualified defined benefit plans	$	—	$	—	$	—	$	—
International defined benefit plans	11		10		14		12
PRB plans	1		4		11		13
Defined contribution plans	340		339		741		734

The amounts recognized in the Condensed Consolidated Balance Sheet consist of:


(dollars in millions)	June 30, 2025		December 31, 2024
Non-current pension assets (included in Other assets)	$	2,358	$	1,819
Current pension and PRB liabilities (included in Accrued employee compensation)	257		256
Future pension and postretirement benefit obligations	2,038		2,104

The amounts recognized in Future pension and postretirement benefit obligations consist of:


(dollars in millions)	June 30, 2025		December 31, 2024
Non-current pension liabilities	$	1,473	$	1,532
Non-current PRB liabilities	498		523
Other pension and PRB related items	67		49
Future pension and postretirement benefit obligations	$	2,038	$	2,104

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)	2025		2024		2025		2024
Operating expense
Service cost	$	42	$	47	$	84	$	94
Non-operating expense
Interest cost	586		596		1,169		1,192
Expected return on plan assets	(921)		(936)		(1,838)		(1,873)
Amortization of prior service credit	(36)		(42)		(75)		(85)
Recognized actuarial net loss	5		5		10		10
Net settlement, curtailment, and special termination benefit (gain) loss	14		3		14		(4)
Non-service pension income	(352)		(374)		(720)		(760)
Total net periodic pension income	$	(310)	$	(327)	$	(636)	$	(666)

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, 2025		December 31, 2024
Marketable securities held in trusts	$	679	$	786

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

RTX Corp 10-Q