Pension and Other Postretirement Benefits

6 Months Ended

Jun. 30, 2022

Pension and Other Postretirement Benefits

Pension and Other Postretirement Benefits

11. Pension and Other Postretirement Benefits

The following table sets forth the components of net periodic benefit cost of the U.S. and non-U.S. defined benefit pension plans for the periods presented:

	Three Months Ended June 30,								Six Months Ended June 30,
	U.S. Plans				Non-U.S. Plans				U.S. Plans				Non-U.S. Plans
(in millions)	2022		2021		2022		2021		2022		2021		2022		2021
Service cost	$	1	$	1	$	1	$	1	$	2	$	2	$	2	$	2
Interest cost		2		2		3		2		4		4		5		5
Expected return on plan assets		(4)		(4)		(2)		(2)		(8)		(9)		(4)		(4)
Amortization of actuarial loss		—		—		—		—		—		—		—		1
Net periodic benefit cost (a)	$	(1)	$	(1)	$	2	$	1	$	(2)	$	(3)	$	3	$	4

We currently anticipate that we will make approximately $4 million in cash contributions to our pension plans in 2022, consisting of contributions of $3 million to our non-U.S. pension plans and $1 million to our U.S. pension plans. For the six months ended June 30, 2022, we made cash contributions of approximately $2 million to the non-U.S. plans and an insignificant amount to the U.S. plans.

The following table sets forth the components of net postretirement benefit cost for the periods presented:

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2022		2021		2022		2021
Service cost	$	—	$	—	$	—	$	—
Interest cost		—		—		1		1
Amortization of prior service cost (credit)		1		—		1		(1)
Net periodic benefit cost (a)	$	1	$	—	$	2	$	—

(a) The service cost component of net periodic benefit cost is presented within either Cost of sales or Operating expenses on the Condensed Consolidated Statements of Income (Loss). The interest cost, expected return on plan assets, amortization of prior service credit, and amortization of actuarial loss components of net periodic benefit cost are presented as Other, non-operating (income) on the Condensed Consolidated Statements of Income (Loss).