Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2022

Comprehensive Income (Loss) [Abstract]

Comprehensive Income (Loss)

(14) Comprehensive Income (Loss):

Comprehensive income (loss) consists of net income (loss) and other gains and losses affecting equity (deficit) and pension/postretirement benefit (OPEB) liabilities that, under GAAP, are excluded from net loss.

The components of accumulated other comprehensive income (loss), net of tax, and changes are as follows:

	Pension		OPEB
($ in millions)	Costs		Costs		Total
Balance at January 1, 2022 (Successor) (1)	$	-	$	60	$	60
Other comprehensive income (loss)
before reclassifications		-		1		1
Amounts reclassified from accumulated other
comprehensive loss to net loss		-		(3)		(3)
Net current-period other comprehensive
income (loss)		-		(2)		(2)
Balance at March 31, 2022 (Successor) (1)	$	-	$	58	$	58
	Pension		OPEB
($ in millions)	Costs		Costs		Total
Balance at January 1, 2021 (Predecessor) (1)	$	(699)	$	(56)	$	(755)
Other comprehensive income (loss)
before reclassifications		-		-		-
Amounts reclassified from accumulated other
comprehensive loss to net income		14		(3)		11
Net current-period other comprehensive
income (loss)		14		(3)		11
Balance at March 31, 2021 (Predecessor) (1)	$	(685)	$	(59)	$	(744)

⁽¹⁾ Pension and OPEB amounts are net of tax of $15 million and $234 million as of January 1, 2022 and 2021, respectively and $15 million and $230 million as of March 31, 2022 and 2021, respectively.

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The significant items reclassified from components of accumulated other comprehensive loss are as follows:

	Successor		Predecessor
	Amount Reclassified from
	Accumulated Other
	Comprehensive Loss (1)
($ in millions)					Affected Line Item in
	For the three months ended		For the three months ended		the Statement Where
Details about Accumulated Other	March 31,		March 31,		Net Income (Loss)
Comprehensive Loss Components	2022		2021		is Presented
Amortization of Pension Cost Items
Actuarial gains (losses)	$	-	$	(18)
One-time loss on disposal		-		-
		-		(18)	Income (Loss) before income taxes
Tax impact		-		4	Income tax benefit
	$	-	$	(14)	Net income (loss)
Amortization of OPEB Cost Items
Prior-service costs	$	3	$	7
Actuarial gains (losses)		-		(3)
		3		4	Income (Loss) before income taxes
Tax impact		-		(1)	Income tax benefit
	$	3	$	3	Net income (loss)

⁽¹⁾ These accumulated other comprehensive loss components are included in the computation of net periodic pension and OPEB costs (See Note 15 - Retirement Plans for additional details).