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Pension and Postretirement Benefits | 9 Months Ended
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Sep. 30, 2021
Compensation And Retirement Disclosure [Abstract] |
Pension and Postretirement Benefits |
9. | Pension and Postretirement Benefits
The estimated components of the recorded net periodic benefit cost (credit) for pension and postretirement benefits are as follows:
|  | Pension |  |  | Postretirement Benefits |
|  | Three Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  | (Dollars in Millions) |
Service cost |  | $ | 11.6 |  |  | $ | 9.8 |  |  | $ | — |  |  | $ | — |
Interest cost |  |  | 8.9 |  |  |  | 9.3 |  |  |  | 0.1 |  |  |  | 0.1 |
Expected return on assets |  |  | (17.7 | ) |  |  | (15.2 | ) |  |  | — |  |  |  | — |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost (credit) |  |  | 0.2 |  |  |  | 0.2 |  |  |  | (0.2 | ) |  |  | (0.2 | )
Actuarial loss |  |  | 3.0 |  |  |  | 4.2 |  |  |  | — |  |  |  | — |
Net periodic benefit cost (credit) |  | $ | 6.0 |  |  | $ | 8.3 |  |  | $ | (0.1 | ) |  | $ | (0.1 | )
|  | Pension |  |  | Postretirement Benefits |
|  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  | (Dollars in Millions) |
Service cost |  | $ | 34.7 |  |  | $ | 29.4 |  |  | $ | — |  |  | $ | — |
Interest cost |  |  | 26.7 |  |  |  | 27.8 |  |  |  | 0.2 |  |  |  | 0.3 |
Expected return on assets |  |  | (52.8 | ) |  |  | (43.8 | ) |  |  | — |  |  |  | — |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost (credit) |  |  | 0.5 |  |  |  | 0.5 |  |  |  | (0.5 | ) |  |  | (0.6 | )
Actuarial loss (gain) |  |  | 9.2 |  |  |  | 10.9 |  |  |  | (0.1 | ) |  |  | (0.1 | )
Net periodic benefit cost (credit) |  | $ | 18.3 |  |  | $ | 24.8 |  |  | $ | (0.4 | ) |  | $ | (0.4 | )
The service cost component of net periodic benefit cost (credit) is included in Cost of revenues – products and services and Selling, general and administrative expenses. All other components are included in Other nonoperating income, net, in the consolidated statements of earnings and comprehensive earnings.

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