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Retirement Plans (Tables)
3 Months Ended
Mar. 31, 2024
Schedule of Components of Net Periodic Benefit Cost

The components of total Net Periodic Benefit Cost associated with the Company’s defined benefit retirement plans are as follows (dollars in millions):

 

U.S. Plans

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Interest cost

 

$

3

 

 

$

3

 

Expected return on plan assets

 

 

(3

)

 

 

(2

)

Amortization of actuarial (gain) loss

 

 

0

 

 

 

0

 

Settlement loss

 

 

0

 

 

 

0

 

Net periodic benefit cost

 

$

(0

)

 

$

1

 

 

 

 

 

 

 

 

Non-U.S. Plans

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Service cost

 

$

2

 

 

$

2

 

Interest cost

 

 

3

 

 

 

2

 

Expected return on plan assets

 

 

(1

)

 

 

(1

)

Amortization of actuarial loss

 

 

0

 

 

 

0

 

Settlement/curtailment gain

 

 

 

 

 

 

Net periodic benefit cost (gain)

 

$

5

 

 

$

3