Investment And Other Income, Net

6 Months Ended

Jun. 30, 2025

Investment And Other Income, Net [Abstract]

Investment And Other Income, Net

(11) Investment and Other Income, Net:

The components of investment and other income, net are as follows:

	For the three months ended ‎June 30,				For the six months ended ‎June 30,
($ in millions)	2025		2024		2025		2024
Interest and dividend income	$	7	$	20	$	16	$	38
Pension benefit		6		9		12		21
OPEB costs		(1)		(1)		(2)		(2)
OPEB remeasurement gain (loss)		-		18		(8)		27
Pension remeasurement gain (loss)		-		(72)		44		2
All other, net		2		2		1		2
Total investment and other income (loss), net	$	14	$	(24)	$	63	$	88

Investment and other income, net increased by $38 million for the three months ended June 30, 2025, compared to the three months ended June 30, 2024. This increase was primarily attributable to a $72 million pension remeasurement loss during the three months ended June 30, 2024, partially offset by post-retirement remeasurement gain of $18 million in the prior-year quarter and a $13 million reduction in interest and dividend income, which reflected lower average cash and short-term investment balances during the current quarter.

Investment and other income, net decreased by $25 million for the six months ended June 30, 2025, compared to the six months ended June 30, 2024. This decrease was primarily attributable to a $35 million reduction in post-retirement remeasurement gain, a $22 million reduction in interest and dividend income, and a $9 million reduction in pension benefit, partially offset by a $42 million increase in pension remeasurement gain.

Pension and OPEB benefit (cost) consists of interest costs, expected return on plan assets, amortization of prior service (costs) and recognition of actuarial (gain) loss. Service cost components of pension and OPEB benefit costs are included in “Selling, general, and administrative expenses” on our consolidated statements of operations.