Pension and Other Post-Retirement Benefits

6 Months Ended

Jun. 30, 2022

Retirement Benefits, Description [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 June 30,
	2022					2021
				Post					Post
	Pension			Retirement		Pension			Retirement
(in millions)	Benefits			Benefits		Benefits			Benefits
Components of net periodic pension expense (credit):
Interest cost	$	1		$	—	$	1		$	—
Expected return on plan assets		(4	)		—		(4	)		—
Amortization of net actuarial loss		1			—		2			—
Net periodic (credit) expense	$	(2	)	$	—	$	(1	)	$	—

	For the Six Months Ended June 30,
	2022					2021
				Post					Post
	Pension			Retirement		Pension			Retirement
(in millions)	Benefits			Benefits		Benefits			Benefits
Components of net periodic pension expense (credit):
Interest cost	$	2		$	—	$	2		$	—
Expected return on plan assets		(8	)		—		(8	)		—
Amortization of net actuarial loss		1			—		4			—
Net periodic (credit) expense	$	(5	)	$	—	$	(2	)	$	—

(1)Amounts are included in G&A 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, 2022. The Company does not expect to make any contributions to its pension plan in 2022.