Investment And Other Income

9 Months Ended

Sep. 30, 2022

Investment And Other Income [Abstract]

Investment And Other Income

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(10) Investment and Other Income:

The following is a summary of the components of Investment and Other Income:

	For the three months ended September 30,		For the three months ended September 30,
($ in millions)	2022		2021
Interest and dividend income	$	16	$	1
Pension benefit		24		23
OPEB costs		(5)		(59)
OPEB remeasurement gain		84		-
Pension remeasurement gain		91		-
All other, net		1		(2)
Total investment and other income (loss), net	$	211	$	(37)

	Successor				Predecessor
	For the nine months ended September 30,		For the five months ended September 30,		For the four months ended April 30,
($ in millions)	2022		2021		2021
Interest and dividend income	$	24	$	1	$	-
Pension benefit		74		36		6
OPEB costs		(13)		(76)		(4)
OPEB remeasurement gain		234		-		-
Pension remeasurement gain		91		-		-
All other, net		-		-		(1)
Total investment and other income (loss), net	$	410	$	(39)	$	1

In the first nine months of 2022, Frontier amended the medical coverage for certain postretirement benefit plans, which resulted in remeasurement gains of $234 million, primarily due to discount rate changes. As a result of pension settlement charges incurred during the period, Frontier remeasured its pension plan obligations, resulting in a remeasurement gain of $91 million for the nine months ended September 30, 2022. Refer to Note 15 for further details.

Pension and OPEB benefit (costs) consist of interest income (loss), expected return on plan assets, amortization of prior service costs (credit) and recognition of actuarial gain (loss).