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Pension and Other Postretirement Benefits | 9 Months Ended
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Sep. 30, 2021
Retirement Benefits [Abstract] |
Pension and Other Postretirement Benefits | Pension and Other Postretirement Benefits The components of net periodic pension and other postretirement benefits costs for the three and nine months ended September 30, 2021 and 2020 were as follows:
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
Pension benefits – U.S. plans | 2021 |  | 2020 |  | 2021 |  | 2020
Service cost | $ | 5 |  |  | $ | 4 |  |  | $ | 16 |  |  | $ | 14 |
Interest cost | 6 |  |  | 9 |  |  | 18 |  |  | 28 |
Expected return on plan assets | (16) |  |  | (18) |  |  | (47) |  |  | (55) |
Recognized prior service cost | 1 |  |  | 1 |  |  | 1 |  |  | 1 |
Recognized net loss | 15 |  |  | 14 |  |  | 45 |  |  | 42 |
Net periodic cost | $ | 11 |  |  | $ | 10 |  |  | $ | 33 |  |  | $ | 30 |
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
Pension benefits – Non-U.S. plans | 2021 |  | 2020 |  | 2021 |  | 2020
Service cost | $ | 3 |  |  | $ | 3 |  |  | $ | 10 |  |  | $ | 9 |
Interest cost | 9 |  |  | 14 |  |  | 27 |  |  | 40 |
Expected return on plan assets | (20) |  |  | (26) |  |  | (61) |  |  | (79) |
Settlement loss | — |  |  | 5 |  |  | — |  |  | 61 |
Recognized net loss | 8 |  |  | 5 |  |  | 27 |  |  | 18 |
Net periodic cost | $ | — |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 49 |
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
Other postretirement benefits | 2021 |  | 2020 |  | 2021 |  | 2020
Service cost | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |
Interest cost | 1 |  |  | — |  |  | 2 |  |  | 2 |
Recognized prior service credit | (6) |  |  | (6) |  |  | (19) |  |  | (19) |
Recognized net loss | 1 |  |  | 1 |  |  | 3 |  |  | 3 |
Net periodic benefit | $ | (3) |  |  | $ | (5) |  |  | $ | (13) |  |  | $ | (14) |
In the three and nine months ended September 30, 2020, the Company recorded settlement charges related to the payment of lump sum buy-outs to settle certain non-U.S. pension obligations using plan assets. In October 2021, the trustees of the Company's U.K. defined benefit pension plan (the "Plan") entered into a transaction to fully insure all of its U.K. pension liabilities. The Company made a cash contribution of $271 to enable the Plan to purchase a bulk annuity insurance contract for the benefit of the Plan participants. Subsequent to the purchase of the bulk annuity contract, each of the Plan participants will be issued an individual annuity contract. The issuer of the individual annuity insurance contracts will be solely responsible for paying each participant's benefits in full. Irrevocable transfer of the Plan's obligations is expected to occur in November 2021. The Company expects to record a settlement charge of approximately $1.3 billion in the fourth quarter of 2021. Additionally, the Company expects $175 of the cash contribution to be repaid as the Plan sells its remaining illiquid assets during 2021 and 2022. The components of net periodic cost / (benefit) other than the service cost component are included in other pension and postretirement in the Consolidated Statement of Operations. The following table provides information about amounts reclassified from accumulated other comprehensive income.
|  | Three Months Ended |  | Nine Months Ended |  |
|  | September 30, |  | September 30, |  |
Details about accumulated other comprehensive income components |  | 2021 |  | 2020 |  | 2021 |  | 2020 |  | Affected line items in the statement of operations
Actuarial losses |  | $ | 24 |  |  | $ | 20 |  |  | $ | 75 |  |  | $ | 63 |  |  | Other pension and postretirement
Settlements |  | — |  |  | 5 |  |  | — |  |  | 61 |  |  | Other pension and postretirement
Prior service credit |  | (5) |  |  | (5) |  |  | (18) |  |  | (18) |  |  | Other pension and postretirement
|  | 19 |  |  | 20 |  |  | 57 |  |  | 106 |  |  | Income from continuing operations before taxes
|  | (5) |  |  | (5) |  |  | (13) |  |  | (21) |  |  | Provision for income taxes
|  | 14 |  |  | 15 |  |  | 44 |  |  | 85 |  |  | Net income from continuing operations
Actuarial losses |  | 9 |  |  | — |  |  | 9 |  |  | — |  |  | Net (loss) / income from discontinued operations
Total reclassified |  | $ | 23 |  |  | $ | 15 |  |  | $ | 53 |  |  | $ | 85 |  |  | Net income from continuing operations attributable to Crown Holdings

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