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Postretirement Benefit Obligations (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Funded Status
The aggregate funded status and the weighted average assumptions for the periods were:
Pension Benefits
SuccessorPredecessor
Year Ended December 31, 2024May 18 through December 31, 2023January 1 through May 17, 2023
Change in benefit obligation
Benefit obligation beginning balance$1,308 $1,300 $1,273 
Service cost2 2 1 
Interest cost63 40 25 
Actuarial (gain) loss(81)20 6 
Actual benefits paid(105)(55)(34)
Resolved litigation settlement and other charges15 1 — 
Benefit obligation ending balance$1,202 $1,308 $1,271 
Change in plan assets
Plan assets fair value beginning balance975 997 994 
Actual return on plan assets(13)24 35 
Employer contributions54 9 2 
Actual benefits paid(105)(55)(34)
Plan assets fair value ending balance$911 $975 $997 
Funded status$(291)$(333)$(274)
Accumulated benefit obligation$1,202 $1,308 $1,271 
Aggregate amounts of underfunded plans
Benefit obligation/Accumulated benefit obligation1,202 1,308 1,271 
Fair value of plan assets911 975 997 
Amounts recognized in accumulated other comprehensive income
Net (gain) loss34 37 238 
Total accumulated other comprehensive income$34 $37 $238 
Assumptions
Discount rate5.65 %5.00 %5.37 %
Interest crediting rate6.00 %6.00 %6.00 %
Rate of compensation increase3.45 %3.45 %3.45 %
Other Postretirement Benefits
SuccessorPredecessor
Year Ended December 31, 2024May 18 through December 31, 2023January 1 through May 17, 2023
Change in benefit obligation
Benefit obligation beginning balance$79 $78 $77 
Service cost1 1 — 
Interest cost3 2 1 
Plan amendments(21)— — 
Actuarial (gain) loss(3)1 1 
Plan participant contributions2 2 1 
Actual benefits paid(9)(5)(4)
Benefit obligation ending balance$52 $79 $76 
Change in plan assets
Plan assets fair value beginning balance75 74 75 
Actual return on plan assets3 4 2 
Plan participant contributions2 2 1 
Actual benefits paid(9)(5)(4)
Plan assets fair value ending balance$71 $75 $74 
Funded status$19 $(4)$(2)
Aggregate amounts of underfunded plans
Benefit obligation / Accumulated benefit obligation$52 $78 $76 
Fair value of plan assets71 75 74 
Amounts recognized in accumulated other comprehensive income
Net (gain) loss(2)(1)4 
Prior service cost (credit)(20)— (4)
Total accumulated other comprehensive income$(22)$(1)$— 
Assumptions
Discount rate5.63 %5.01 %5.36 %
Rate of compensation increase2.31 %2.31 %2.31 %
The funded status of each plan as of December 31, 2024 (Successor) was:
Trust Asset Fair ValueObligation Fair ValueOverfunded Status
Benefit Plan for UMWA Represented Retirees of Pennsylvania Mines, LLC$21 $16 $5 
Coal Worker's Pneumoconiosis (Black Lung) Benefit Plan9 5 4 
Schedule of Net Benefit Costs
The components of net periodic benefit cost (credit), the amounts recognized in OCI and the associated weighted average assumptions for pension and other postretirement plans for the periods were:
Pension Benefits
SuccessorPredecessor
Year Ended December 31, 2024May 18 through December 31, 2023January 1 through May 17, 2023Year Ended December 31, 2022
Net periodic benefit costs (credits):
Service cost$2 $2 $1 $4 
Interest cost63 40 25 50 
Expected return on plan assets(66)(41)(30)(68)
Amortization of net (gain) loss— — 2 27 
Resolved litigation settlement and other charges15 1 — — 
Net periodic defined benefit cost (credit)14 2 (2)13 
Net actuarial (gain) loss(3)38 2 19 
Reclassifications due to settlement and (or) curtailment:
Amortization of net (gain) loss— — — (27)
Total recognized in OCI$(3)$38 $2 $(8)
Total recognized in net periodic costs and OCI$11 $40 $— $5 
Assumptions
Discount rate5.00 %5.12 %5.41 %2.97 %
Rate of compensation increase3.45 %3.45 %3.45 %3.45 %
Expected return on plan assets7.25 %7.25 %7.50 %5.75 %
Other Postretirement Benefits
SuccessorPredecessor
Year Ended December 31, 2024May 18 through December 31, 2023January 1 through May 17, 2023Year Ended December 31, 2022
Net periodic benefit costs (credits):
Service cost$1 $1 $1 $1 
Interest cost3 2 1 3 
Expected return on plan assets(4)(2)(2)(4)
Amortization of prior service cost (credit)(1)— — (1)
Net periodic defined benefit cost (credit)(1)1 — (1)
Net actuarial (gain) loss(2)(1)— (3)
Prior service credit(21)— — — 
Reclassifications due to settlement and (or) curtailment:
Amortization of prior service cost (credit)1 — — 1 
Amortization of net (gain) loss— — — (1)
Total recognized in OCI$(22)$(1)$— $(3)
Total recognized in net periodic costs and OCI$(23)$— $— $(4)
Assumptions
Discount rate5.01 %5.13 %5.41 %2.94 %
Rate of compensation increase2.31 %2.31 %2.31 %2.31 %
Expected return on plan assets5.49 %5.49 %5.74 %3.89 %
Health care grading trend rates (a)
7.10% to 4.40%
6.50% to 4.50%
6.50% to 4.50%
4.50 %
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(a)Trend rates grading to 2027.
Schedule of Expected Benefit Payments
The forecasted undiscounted benefit payments to plan participants as of December 31, 2024 (Successor) were:
202520262027202820292030-2034
Pension plans$97 $94 $94 $93 $93 $452 
Other postretirement plans6 6 5 5 4 18 
Schedule of Defined Benefit Plan, Assets Target Allocations
The weighted-average target asset allocations for the pension plan assets as of December 31, 2024 (Successor) were:
December 31, 2024
Equity securities32 %
Debt securities10 %
Other7 %
Growth portfolio48 %
Debt securities35 %
Other12 %
Immunizing portfolio47 %
Liquidity portfolio4 %
Total100 %
The target asset allocations for other postretirement benefit assets as of December 31, 2024 (Successor) were:
2024
Cash and cash equivalents4 %
Equity securities11 %
Debt securities84 %
Total100 %
Schedule of Fair Value of Plan Assets by Measurement
The classifications of pension plan asset fair value measurements within the fair value hierarchy were:
Successor
December 31, 2024December 31, 2023
Level 1NAVTotalLevel 1NAVTotal
Cash equivalents$— $100 $100 $— $169 $169 
Commingled equity securities— 274 274 — 288 288 
Commingled debt securities— 286 286 — 301 301 
Alternative and other investments(15)231 216 52 191 243 
Receivables (payables), net (a)
— — 35 — — (25)
Total trust funds(15)891 911 52 949 976 
Restricted 401(h) assets (b)
— — — — (1)
Total plan assets$(15)$891 $911 $52 $949 $975 
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(a) Represents: (i) interest and dividends earned but not received; and (ii) net sold or purchased investments, but not settled.
(b) Other postretirement 401(h) benefits assets are a component of the pension plan master trust. Accordingly, these are excluded from pension plan assets.
The classifications of other postretirement benefit plan asset fair value measurements within the fair value hierarchy were:
Successor
December 31, 2024December 31, 2023
Level 1Level 2NAVTotalLevel 1Level 2NAVTotal
Cash equivalents$— $— $4 $4 $— $— $7 $7 
Commingled equity securities— — 10 10 — — 9 9 
U.S. Government debt securities7 — — 7 8 — — 8 
Corporate debt securities— 18 — 18 — 16 — 16 
Commingled debt securities— — 32 32 — — 34 34 
Total trust funds7 18 46 71 8 16 50 74 
Restricted 401(h) assets (a)
— — — — — — — 1 
Total plan assets$7 $18 $46 $71 $8 $16 $50 $75 
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(a) Other postretirement 401(h) benefits assets are a component of the pension plan master trust. Accordingly, these are reported as postretirement assets.