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Retirement Plans (Tables)
9 Months Ended
Sep. 30, 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 September 30,

 

 

Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Interest cost

 

$

3

 

 

$

3

 

 

$

8

 

 

$

9

 

Expected return on plan assets

 

 

(3

)

 

 

(3

)

 

 

(9

)

 

 

(8

)

Settlement loss

 

 

0

 

 

 

1

 

 

 

1

 

 

 

1

 

Net periodic benefit (gain) cost

 

$

0

 

 

$

1

 

 

$

0

 

 

$

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-U.S. Plans

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Service cost

 

$

2

 

 

$

2

 

 

$

7

 

 

$

7

 

Interest cost

 

 

3

 

 

 

2

 

 

 

8

 

 

 

7

 

Expected return on plan assets

 

 

(1

)

 

 

(1

)

 

 

(3

)

 

 

(2

)

Amortization of actuarial loss

 

 

0

 

 

 

1

 

 

 

1

 

 

 

1

 

Net periodic benefit cost

 

$

5

 

 

$

4

 

 

$

14

 

 

$

13