Nature of Operations and Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Components of Other Income, Net

The components of other expense, net for the three months ended March 31 are as follows: 

(in millions)	2020		2019
Other components of net periodic benefit cost 1	$	(9)	$	103
Net loss from investments	10		—
Other expense, net	$	1	$	103

¹ During the first quarter of 2019, the Company purchased a group annuity contract under which an insurance company assumed a portion of

the Company's obligation to pay pension benefits to the plan's beneficiaries. The purchase of this group annuity contract was funded by pension plan assets. The net periodic benefit cost for our retirement and post retirement plans for the three months ended March 31, 2019 includes a non-cash pre-tax settlement charge of $113 million reflecting the accelerated recognition of a portion of unamortized actuarial losses in the plan.