Pension and Other Post-Retirement Benefits

9 Months Ended

Sep. 30, 2023

Retirement Benefits [Abstract]

Pension and Other Post-Retirement Benefits

Pension and Other Post-Retirement Benefits

The following table sets forth certain disclosures for the Company’s pension and post-retirement plans for the periods indicated:

	For the three months ended September 30,
	2023				2022
(in millions)	Pension Benefits		Post Retirement Benefits (2)		Pension Benefits		Post Retirement Benefits
Components of net periodic pension expense (credit):(1)
Interest cost	$	1	$	—	$	1	$	—
Expected return on plan assets	(4)		—		(4)		—
Amortization of net actuarial loss	2		—		1		—
Net periodic (credit) expense	$	(1)	$	—	$	(2)	$	—

	For the Nine Months Ended September 30,
	2023				2022
(in millions)	Pension Benefits		Post Retirement Benefits (2)		Pension Benefits		Post Retirement Benefits
Components of net periodic pension expense (credit):(1)
Interest cost	$	4	$	—	$	3	$	—
Expected return on plan assets	(11)		—		(12)		—
Amortization of net actuarial loss	5		—		2		—
Net periodic (credit) expense	$	(2)	$	—	$	(7)	$	—

(1)Amounts are included in General and administrative expense on the Consolidated Statements of Income and Comprehensive Income.

(2)Post-retirement benefits balances round to zero.

The Company expects to contribute $1 million to its post-retirement plan to pay premiums and claims for the fiscal year ending December 31, 2023. The Company does not expect to make any contributions to its pension plan in 2023.