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Retirement Benefits
9 Months Ended
Jun. 30, 2023
Retirement Benefits [Abstract]  
Retirement Benefits Retirement Benefits
The components of net periodic pension and postretirement benefit cost were (in millions):
 Pension Benefits
 Three Months Ended
June 30,
Nine Months Ended
June 30,
 2023202220232022
Service cost$9.4 $15.4 $30.6 $56.1 
Interest cost35.3 34.5 114.0 99.3 
Expected return on plan assets(44.0)(56.4)(147.0)(175.1)
Amortization of prior service cost0.1 — 0.1 0.8 
Amortization of net actuarial loss (gain)0.2 10.4 (1.8)55.0 
Settlement and curtailment charges (benefit)2.2 (0.7)120.1 24.2 
Net periodic pension benefit cost$3.2 $3.2 $116.0 $60.3 
 Other Postretirement Benefits
 Three Months Ended
June 30,
Nine Months Ended
June 30,
 2023202220232022
Service cost$0.2 $0.2 $0.4 $0.6 
Interest cost0.6 0.3 1.7 0.9 
Amortization of prior service credit— (0.2)— (0.6)
Amortization of net actuarial loss0.1 0.2 0.4 0.5 
Net periodic postretirement benefit cost$0.9 $0.5 $2.5 $1.4 
The service cost component is included in Cost of sales and Selling, general and administrative expenses in the Consolidated Statement of Operations. All other components are included in Other income (expense) in the Consolidated Statement of Operations.
In March and June 2023, we remeasured our U.S. pension plan assets and liabilities in accordance with U.S. GAAP settlement accounting rules. For the three and nine months ended June 30, 2023, we recognized settlement expense of $2.2 million and $120.1 million, respectively. Settlement accounting was required due to the amount of lump-sum payments made by the U.S. pension plan to retirees, current employees electing an in-service distribution, and other separated employees. Remeasurement of our U.S. pension plan assets and liabilities increased our net benefit obligation by $25.3 million in 2023. The discount rate used for the remeasurement as of June 30, 2023, was 5.45 percent compared to 5.65 percent at our September 30, 2022, annual measurement date.