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Other Comprehensive Earnings (Loss)
 12 Months Ended
Dec. 31, 2023
Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Other Comprehensive Earnings (Loss)
9.
Other Comprehensive Earnings (Loss)

Components of other comprehensive earnings (loss) consist of the following:

 

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Pension and postretirement benefit plans:

 

 

 

 

 

 

 

 

 

Beginning accumulated pension and postretirement benefits

 

$

(116

)

 

$

(132

)

 

$

(127

)

Net actuarial gain (loss) and prior service cost arising in current year

 

 

(15

)

 

 

15

 

 

 

(35

)

Recognition of net actuarial loss and prior service cost in earnings (1)

 

 

5

 

 

 

6

 

 

 

3

 

Settlement of pension benefits (2)

 

 

—

 

 

 

—

 

 

 

19

 

Other (3)

 

 

—

 

 

 

—

 

 

 

7

 

Income tax benefit (expense)

 

 

2

 

 

 

(5

)

 

 

1

 

Accumulated other comprehensive loss, net of tax

 

$

(124

)

 

$

(116

)

 

$

(132

)

 

 

(1)
Recognition of net actuarial loss and prior service cost are included in the computation of net periodic benefit cost, which is a component of other, net in the accompanying consolidated statements of comprehensive earnings. See Note 16 for additional details.

 

(2)
In 2021, the Merger triggered settlement payments to certain plan participants, and the expense associated with this settlement is recognized as a component of restructuring and transaction costs in the accompanying consolidated statements of comprehensive earnings.
(3)
Other includes a remeasurement of the pension obligation due to the Merger, which was partially offset by a change in mortality assumption.