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v3.22.2.2

Pension Plans and Other Post Employment Benefit Plans | 9 Months Ended
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Sep. 30, 2022
Retirement Benefits [Abstract] |
Pension and other Post Employment Benefits | PENSION PLANS AND OTHER POST EMPLOYMENT BENEFITS The following sets forth the components of the company's net periodic benefit (credit) cost for defined benefit pension plans and other post employment benefits:
| Three Months Ended September 30, | Nine Months Ended September 30,
(In millions) | 2022 | 2021 | 2022 | 2021
Defined Benefit Pension Plans: |  |  |  |
Service cost | $ | 5 |  | $ | 7 |  | $ | 14 |  | $ | 19 |
Interest cost | 126 |  | 91 |  | 343 |  | 273 |
Expected return on plan assets | (180) |  | (228) |  | (560) |  | (686) |
Amortization of unrecognized (gain) loss | — |  | 14 |  | 2 |  | 41 |
Amortization of prior service (benefit) cost | — |  | — |  | (2) |  | (1) |
Settlement loss | 25 |  | — |  | 27 |  | 1 |
Net periodic benefit (credit) cost | $ | (24) |  | $ | (116) |  | $ | (176) |  | $ | (353) |
Other Post Employment Benefits: |  |  |  |
Service cost | $ | — |  | $ | 1 |  | $ | 1 |  | $ | 1 |
Interest cost | 6 |  | 5 |  | 19 |  | 16 |
Amortization of unrecognized (gain) loss | 1 |  | 23 |  | 2 |  | 70 |
Amortization of prior service (benefit) cost | — |  | (231) |  | (1) |  | (692) |
Curtailment (gain) loss | — |  | — |  | — |  | (1) |
Net periodic benefit (credit) cost | $ | 7 |  | $ | (202) |  | $ | 21 |  | $ | (606) |
In August 2022, the company transferred approximately $1.1 billion of certain benefit obligations and associated plan assets in the principal U.S. pension plan (the “Plan”) to an insurance company through the purchase of a nonparticipating group annuity contract (“Annuity Purchase”). The company recorded a non-cash, pre-tax settlement charge of approximately $25 million in other income – net in the interim Consolidated Statements of Operations for the three and nine months ended September 30, 2022 and corresponding adjustment to accumulated other comprehensive income (loss) in the interim Consolidated Balance Sheets at September 30, 2022 due to the Annuity Purchase. The Annuity Purchase resulted in a remeasurement of the Plan as of August 31, 2022 and the company updated the weighted average discount rate used in developing the 2022 net periodic pension (credit) costs at December 31, 2021 from 2.82 percent to 4.60 percent. Due to the remeasurement, the company recorded a pre-tax actuarial gain of approximately $110 million to accumulated other comprehensive income (loss) in the interim Consolidated Balance Sheets at September 30, 2022.

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- Definition The entire disclosure for defined contribution plan. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -URI http://asc.fasb.org/subtopic&trid=2235116 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942 + Details
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