Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 225

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 225
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 assetsFair value of plan assets at January 11,589 1,404 Actual return on plan assets121 245 Employer contributions6 6 Benefits paid(68)(66)Fair value of plan assets at December 311,648 1,589 Funded status at December 31$508 $420 Information for retirement plans with a benefit obligation in excess of plan assetsProjected and accumulated benefit obligations$49 $54 Reported in Consolidated Balance SheetsFunded Pension Plans (other assets)557 474 Unfunded Supplemental and Executive Retirement Plans (other liabilities)(49)(54)Net funded status of Retirement Plans$508 $420 The following table details the amounts recognized in accumulated other comprehensive income, before income taxes, at December 31, 2024 and 2023. Refer to Note 17—Accumulated Other Comprehensive (Loss) Income for additional information.dollars in millionsRetirement Plans20242023Net actuarial gain$182 $122 The accumulated benefit obligation for the Plans at December 31, 2024 and 2023 was $1.09 billion and $1.12 billion, respectively. The Plans use a measurement date of December 31.

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The following table shows the components of periodic benefit cost related to the Plans and changes in assets and benefit obligations of the Plans recognized in other comprehensive income, before income taxes, for the years ended December 31, 2024, 2023 and 2022. Refer to Note 17—Accumulated Other Comprehensive (Loss) Income for additional information. Periodic benefit costs related to Postretirement Plans were less than $1 million for the years ended December 31, 2024 and 2023. Net Periodic Benefit Costs and Other Amountsdollars in millionsRetirement PlansPostretirement PlansYear Ended December 31Year Ended December 312024202320222022Service cost$10 $9 $14 $— Interest cost59 61 43 — Expected return on assets(91)(85)(87)— Net prior service credit amortization— — — (27)Amortization of net actuarial loss— — 12 — Total net periodic benefit(22)(15)(18)(27)Current year actuarial (gain) loss (60)(109)33 — Amortization of actuarial loss— — (12