Retirement Benefit Liabilities

6 Months Ended

Mar. 31, 2021

Retirement Benefits [Abstract]

Retirement Benefit Liabilities

Retirement Benefit Liabilities

Retirement benefit liabilities consisted of the following (in millions):

	March 31, 2021		September 30, 2020
Retiree medical liability	$	51	$	52
Pension liability	120		139
Other	17		17
Subtotal	188		208
Less: current portion (included in compensation and benefits, Note 11)	(12)		(12)
Retirement benefits	$	176	$	196

The components of net periodic pension and retiree medical income included in continuing operations for the three months ended March 31 are as follows (in millions):

	2021				2020
	Pension		Retiree Medical		Pension		Retiree Medical
Interest cost	$	(8)	$	(1)	$	(10)	$	(1)
Assumed return on plan assets	24		—		24		—
Amortization of prior service benefit	—		9		—		9
Recognized actuarial loss	(8)		(3)		(8)		(3)
Total income	$	8	$	5	$	6	$	5

The components of net periodic pension and retiree medical income included in continuing operations for the six months ended March 31 are as follows (in millions):

	2021				2020
	Pension		Retiree Medical		Pension		Retiree Medical
Interest cost	$	(17)	$	(1)	$	(21)	$	(1)
Assumed return on plan assets	48		—		48		—
Amortization of prior service benefit	—		18		—		18
Recognized actuarial loss	(16)		(6)		(16)		(7)
Total income	$	15	$	11	$	11	$	10

For the three months ended March 31, 2021 and 2020, the non-service cost components of the net periodic pension and Other Post-Employment Benefits ("OPEB") income were $13 million and $11 million, respectively, and are presented in Other income, net. For the six months ended March 31, 2021 and 2020, the non-service cost components of the net periodic pension and OPEB income were $26 million and $21 million, respectively, and are presented in Other income, net.