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Benefit Plans (Tables)
 9 Months Ended
Sep. 30, 2020
Retirement Benefits [Abstract]  
Company's pension and postretirement benefit plans
Components of net cost (benefit) for pension and other postretirement plans
 
 
 
 
 
 
Three months ended September 30,
 
Nine months ended September 30,
($ in millions)
 
2020
 
2019
 
2020
 
2019
Pension benefits
 
 
 
 
 
 
 
 
Service cost
 
$
25

 
$
30

 
$
78

 
$
86

Interest cost
 
49

 
58

 
161

 
185

Expected return on plan assets
 
(104
)
 
(103
)
 
(303
)
 
(297
)
Amortization of prior service credit
 
(14
)
 
(14
)
 
(42
)
 
(42
)
Curtailment loss
 
10

 
—

 
10

 
—

Costs and expenses
 
(34
)
 
(29
)
 
(96
)
 
(68
)
Remeasurement of projected benefit obligation
 
130

 
323

 
686

 
1,054

Remeasurement of plan assets
 
(202
)
 
(136
)
 
(391
)
 
(752
)
Remeasurement (gains) losses
 
(72
)
 
187

 
295

 
302

Pension net (benefit) cost
 
$
(106
)
 
$
158

 
$
199

 
$
234

 
 
 
 
 
 
 
 
 
Postretirement benefits
 
 
 
 
 
 
 
 
Service cost
 
$
1

 
$
2

 
$
4

 
$
6

Interest cost
 
2

 
4

 
8

 
11

Amortization of prior service credit
 
(1
)
 
—

 
(3
)
 
(2
)
Curtailment gain
 
(8
)
 
—

 
(8
)
 
—

Costs and expenses
 
(6
)
 
6

 
1

 
15

Remeasurement of projected benefit obligation
 
1

 
38

 
25

 
63

Remeasurement of plan assets
 
—

 
—

 
—

 
—

Remeasurement (gains) losses
 
1

 
38

 
25

 
63

Postretirement net (benefit) cost
 
$
(5
)
 
$
44

 
$
26

 
$
78

 
 
 
 
 
 
 
 
 
Pension and postretirement benefits
 
 
 
 
 
 
 
 
Costs and expenses
 
$
(40
)
 
$
(23
)
 
$
(95
)
 
$
(53
)
Remeasurement (gains) losses
 
(71
)
 
225

 
320

 
365

Total net (benefit) cost
 
$
(111
)
 
$
202

 
$
225

 
$
312


Differences between expected and actual returns on plan assets and changes in assumptions affect the Company’s pension and other postretirement obligations, plan assets and expenses.
Pension and other postretirement service cost, interest cost, expected return on plan assets, amortization of prior service credit and curtailment gains (losses) are reported in property and casualty insurance claims and claims expense, operating costs and expenses, net investment income and (if applicable) restructuring and related charges on the Condensed Consolidated Statement of Operations.
Pension and postretirement benefits remeasurement gains and losses
 
 
 
 
 
 
Three months ended September 30,
 
Nine months ended September 30,
($ in millions)
 
2020
 
2019
 
2020
 
2019
Remeasurement of projected benefit obligation (gains) losses:
 
 
 
 
 
 
 
 
Discount rate
 
$
57

 
$
237

 
$
454

 
$
730

Other assumptions
 
74

 
124

 
257

 
387

Remeasurement of plan assets (gains) losses
 
(202
)
 
(136
)
 
(391
)
 
(752
)
Remeasurement (gains) losses
 
$
(71
)
 
$
225

 
$
320

 
$
365