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Pension and Other Postretirement Benefits (Tables)
3 Months Ended
Mar. 31, 2024
Retirement Benefits [Abstract]  
Components of Net Periodic Benefit Cost

The components of net periodic benefit cost were as follows:

 

 

Pension benefits

 

 

Other postretirement benefits

 

First quarter ended March 31,

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Service cost

 

$

2

 

 

$

2

 

 

$

1

 

 

$

1

 

Interest cost(1)

 

 

27

 

 

 

31

 

 

 

6

 

 

 

6

 

Expected return on plan assets(1)

 

 

(35

)

 

 

(39

)

 

 

 

 

 

 

Recognized net actuarial loss(1)

 

 

8

 

 

 

7

 

 

 

1

 

 

 

1

 

Amortization of prior service benefit(1)

 

 

 

 

 

 

 

 

(3

)

 

 

(3

)

Curtailments(2)

 

 

1

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost

 

$

3

 

 

$

1

 

 

$

5

 

 

$

5

 

 

(1)
These amounts were reported in Other expenses, net on the accompanying Statement of Consolidated Operations (see Note P).
(2)
This amount was reported in Restructuring and other charges, net on the accompanying Statement of Consolidated Operations and Cash Flows.
Summary of Information in Curtailment or Settlement of Benefits Requiring Remeasurement, Update to Discount Rates Used to Determine Benefit Obligations of Affected Plans

Action #

 

Number of
affected
plan
participants

 

Weighted
average
discount rate
as of prior plan remeasurement
date

 

Plan
remeasurement
date

 

Weighted
average
discount rate
as of plan
remeasurement
date

 

Decrease to
other noncurrent assets

 

 

Curtailment
loss
(1)

 

1

 

~110

 

N/A

 

N/A

 

N/A

 

$

(1

)

 

$

1

 

(1)
This amount represents the net actuarial loss arising from the curtailment and was recognized immediately in Restructuring and other charges, net on the accompanying Statement of Consolidated Operations.