Nature of Operations and Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Components of Other Income, Net

The components of other (income) expense, net for the three and nine months ended September 30 are as follows: 

(in millions)	Three Months				Nine Months
	2020		2019		2020		2019
Other components of net periodic benefit cost 1	$	(9)	$	(8)	$	(24)	$	88
Net loss from investments	3		16		8		16
Other (income) expense, net	$	(6)	$	8	$	(16)	$	104

¹    The net periodic benefit cost for our retirement and post retirement plans for the nine months ended September 30, 2020 includes a non-cash pre-tax settlement charge of $3 million. During the first nine months 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 net periodic benefit cost for our retirement and post retirement plans for the nine months ended September 30, 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.