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Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2022



	Successor				Predecessor
	For the year ended		For the eight months		For the four months
	December 31,		ended December 31,		ended April 30,
($ in millions)	2022		2021		2021

Change in projected benefit obligation (PBO)
PBO at the beginning of the period	$	3,477	$	3,418	$	3,708
Service cost		69		53		32
Interest cost		106		69		31
Actuarial (gain) loss		(867)		30		(328)
Benefits paid		(75)		(93)		(25)
Settlements		(200)		-		-
PBO at the end of the period	$	2,510	$	3,477	$	3,418

Change in plan assets
Fair value of plan assets at the beginning of the period	$	2,655	$	2,586	$	2,507
Actual return on plan assets		(523)		152		72
Employer contributions		176		10		32
Settlements		(200)		-		-
Benefits paid		(75)		(93)		(25)
Fair value of plan assets at the end of the period	$	2,033	$	2,655	$	2,586

Funded status	$	(477)	$	(822)	$	(832)

Amounts recognized in the consolidated balance sheet
Pension and other postretirement benefits - current	$	-	$	-	$	-
Pension and other postretirement benefits - noncurrent	$	(477)	$	(822)	$	(832)
Accumulated other comprehensive loss	$	-	$	-	$	-



	Successor				Predecessor
	For the year ended		For the eight months		For the four months		For the year ended
	December 31,		ended December 31,		ended April 30,		December 31,
($ in millions)	2022		2021		2021		2020

Components of total pension benefit cost / (income)
Service cost	$	69	$	53	$	32	$	95
Interest cost on projected benefit obligation		106		69		31		108
Expected return on plan assets		(181)		(127)		(61)		(171)
(Gain) / Loss recognized		(218)		6		-		-
Amortization of unrecognized loss		-		-		24		99
Net periodic pension benefit cost / (income)		(224)		1		26		131
Pension settlement costs		55		-		-		159
Gain on disposal, net		-		-		-		(38)
Total pension benefit cost / (income)	$	(169)	$	1	$	26	$	252



	2022		2021
Asset category:
Equity securities	58	%	49	%
Debt securities	30	%	44	%
Alternative and other investments	12	%	7	%
Total	100	%	100	%



	12/31/2022		12/31/2021		4/30/2021		12/31/2020
Discount rate - used at period end to value obligation	5.50	%	2.90	%	3.10	%	2.60	%
Discount rate - used at beginning of period to compute annual cost	2.90	%	3.10	%	2.60	%	3.40	%
Expected long-term rate of return on plan assets	7.50	%	7.50	%	7.50	%	7.50	%
Rate of increase in compensation levels	3.00	%	2.00	%	2.00	%	2.00	%



	Successor				Predecessor
	For the year ended		For the eight months		For the four months
	December 31,		ended December 31,		ended April 30,
($ in millions)	2022		2021		2021

Change in benefit obligation
Benefit obligation at the beginning of the period	$	897	$	941	$	1,042
Service cost		13		11		7
Interest cost		31		18		9
Plan amendments		(41)		(79)		-
Plan participants' contributions		10		6		4
Actuarial (gain) loss		(248)		37		(99)
Benefits paid		(56)		(37)		(22)
Benefit obligation at the end of the period	$	606	$	897	$	941

Change in plan assets
Fair value of plan assets at the beginning of the period	$	-	$	-	$	-
Plan participants' contributions		10		6		4
Employer contribution		46		31		18
Benefits paid		(56)		(37)		(22)
Fair value of the plan assets at end of the period	$	-	$	-	$	-

Funded status	$	(606)	$	(897)	$	(941)

Amounts recognized in the consolidated balance sheet
Pension and other postretirement benefits - current	$	(39)	$	(46)	$	(48)
Pension and other postretirement benefits – noncurrent	$	(567)	$	(851)	$	(893)
Accumulated other comprehensive (gain) loss	$	(102)	$	(75)	$	-



	Successor				Predecessor
	For the year ended		For the eight months		For the four months		For the year ended
	December 31,		ended December 31,		ended April 30,		December 31,
($ in millions)	2022		2021		2021		2020

Components of total postretirement benefit cost / (income)
Service cost	$	13	$	11	$	7	$	20
Interest cost on projected benefit obligation		31		18		9		33
Amortization of prior service credit		(13)		(5)		(10)		(32)
(Gain) loss recognized		(248)		37		-		-
Amortization of unrecognized (gain) loss		-		-		5		6
Net periodic postretirement benefit cost / (income)		(217)		61		11		27
Gain on disposal, net		-		-		-		(24)
Total postretirement benefit cost / (income)	$	(217)	$	61	$	11	$	3



	Successor				Predecessor
	For the year ended		For the eight months		For the four months
Pension Plan	December 31,		ended December 31,		ended April 30,
($ in millions)	2022		2021		2021

Accumulated other comprehensive (gain) loss at
the beginning of the period	$	-	$	-	$	915

Net actuarial gain (loss) recognized during the period		-		-		(24)
Net actuarial (gain) loss occurring during the period		-		-		(338)
Impact of fresh start accounting		-		-		(553)
Effect of settlements		-		-		-
Net amount recognized in comprehensive income
(loss) for the period		-		-		(915)
Accumulated other comprehensive (gain) loss at
end of the period	$	-	$	-	$	-


	Successor				Predecessor
	For the year ended		For the eight months		For the four months
OPEB	December 31,		ended December 31,		ended April 30,
($ in millions)	2022		2021		2021

Accumulated other comprehensive (gain) loss at
the beginning of the period	$	(75)	$	-	$	74

Net actuarial gain (loss) recognized during the period		-		-		(5)
Prior service credit amortized during the period		13		5		10
Impact of fresh start accounting		-		-		20
Prior service credit occurring during the period		(40)		(80)		-
Net actuarial (gain) loss occurring during the period		-		-		(99)
Net amount recognized in comprehensive income
(loss) for the period		(27)		(75)		(74)
Accumulated other comprehensive (gain) loss at
end of the period	$	(102)	$	(75)	$	-



	12/31/2022	12/31/2021	4/30/2021	12/31/2020
Discount rate - used at period end to value obligation	5.50%	3.00%	3.30%	2.60% - 2.80%
Discount rate - used to compute annual cost	3.00% - 5.60%	2.80% - 3.30%	2.60% - 2.80%	3.40% - 3.50%