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Pension and other postretirement benefits | 3 Months Ended
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Mar. 31, 2024
Retirement Benefits [Abstract] |
Pension and other postretirement benefits | 15. Pension and other postretirement benefits Components of Net Periodic Benefit Cost The components of net periodic benefit cost (income) recognized in the Condensed Consolidated Statements of Income for the three months ended March 31 for the Pension and Other Postretirement Benefit (OPEB) Plans were:
|  |  | Pension and OPEB Plans
|  |  | U.S. |  |  | Non-U.S.
|  |  | Three months ended March 31 |  | Three months ended March 31
in $ millions |  |  | 2024 | 2023 |  |  | 2024 | 2023
Service cost |  |  | – |  | – |  |  |  | 10 |  | 8 |
Interest cost |  |  | 6 |  | 6 |  |  |  | 21 |  | 24 |
Expected return on assets |  |  | (5) |  | (5) |  |  |  | (22) |  | (23) |
Amortization of: |  |  |  |  |  |  |  |
Prior service credit |  |  | – |  | – |  |  |  | (3) |  | (3) |
Actuarial loss |  |  | 1 |  | 1 |  |  |  | 1 |  | – |
Settlement gain (i) |  |  | – |  | – |  |  |  | (3) |  | – |
Net periodic benefit cost (ii) (iii) |  |  | 2 |  | 2 |  |  |  | 4 |  | 6 |
(i) Settlement gain of $3 million relates to pension plans divested as part of the sale of the Company's Lime operations in Europe and is included in gain on divestitures, within Other nonoperating income, net. (ii) Includes net periodic benefit cost of $1 million and $1 million related to OPEB plans for the three months ended March 31, 2024 and March 31, 2023, respectively. (iii) Service cost is included within Cost of revenues and Selling, general and administrative expenses while all other cost components are recorded within Other nonoperating income, net.

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