Pension and Other Post-Retirement Benefits

9 Months Ended

Sep. 30, 2021

General Discussion Of Pension And Other Postretirement Benefits [Abstract]

Pension and Other Post-Retirement Benefits

Note 8. 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,
	2021					2020
(dollars in millions)	Pension Benefits			Post- Retirement Benefits		Pension Benefits			Post- Retirement Benefits
Components of net periodic (credit) expense: (1)
Interest cost	$	1		$	—	$	1		$	—
Expected return on plan assets		(4	)		—		(4	)		—
Amortization of prior-service liability		—			—		—			—
Amortization of net actuarial loss		2			—		2			—
Net periodic (credit) expense	$	(1	)	$	—	$	(1	)	$	—

	For the Nine Months Ended September 30,
	2021					2020
(dollars in millions)	Pension Benefits			Post- Retirement Benefits		Pension Benefits			Post- Retirement Benefits
Components of net periodic (credit) expense: (1)
Interest cost	$	3		$	—	$	4		$	—
Expected return on plan assets		(12	)		—		(12	)		—
Amortization of prior-service liability		—			—		—			—
Amortization of net actuarial loss		5			—		5			—
Net periodic (credit) expense	$	(4	)	$	—	$	(3	)	$	—

(1)Amounts are included in G&A expense on the Consolidated Statements of Income and Comprehensive Income.

The Company expects to contribute $1 million to its post-retirement plan to pay premiums and claims for the fiscal year ending December 31, 2021. The Company does not expect to make any contributions to its pension plan in 2021.