v3.22.1

Pension and Other Postretirement Benefits | 3 Months Ended
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Mar. 31, 2022
Retirement Benefits [Abstract] |
Pension and Other Postretirement Benefits | Pension and Other Postretirement Benefits The components of net periodic benefit cost for defined benefit plans were as follows:
First quarter ended March 31, |  | 2022 |  | 2021 |  |  |  |
Pension benefits |  |  |  |  |  |  |  |
Service cost |  | $ | 5 |  |  | $ | 6 |  |  |  |  |
Interest cost |  | 16 |  |  | 17 |  |  |  |  |
Expected return on plan assets |  | (24) |  |  | (33) |  |  |  |  |
Recognized net actuarial loss |  | 19 |  |  | 32 |  |  |  |  |
Settlements |  | 1 |  |  | — |  |  |  |  |
Net periodic benefit cost(1) |  | $ | 17 |  |  | $ | 22 |  |  |  |  |
Other postretirement benefits |  |  |  |  |  |  |  |
Service cost |  | $ | 1 |  |  | $ | 1 |  |  |  |  |
Interest cost |  | 3 |  |  | 3 |  |  |  |  |
Recognized net actuarial loss |  | 2 |  |  | 2 |  |  |  |  |
Amortization of prior service benefit |  | (2) |  |  | (1) |  |  |  |  |
Net periodic benefit cost(1) |  | $ | 4 |  |  | $ | 5 |  |  |  |  |
__________________ (1) Service cost was included within Cost of goods sold, Settlements were included within Restructuring and other charges, and all other components were included in Other expenses, net on the accompanying Statement of Consolidated Operations. Pension Funding— In January 2021, the Company contributed a total of $200 to its two funded U.S. defined benefit pension plans, comprised of the estimated minimum required funding for 2021 of $183 and an additional $17. Arconic had no minimum required funding due in the 2022 first quarter for these two plans. The Company expects to contribute a total of $22 to these two plans in the remainder of 2022.

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