Retirement Benefit Liabilities

6 Months Ended

Mar. 31, 2022

Retirement Benefits [Abstract]

Retirement Benefit Liabilities

Retirement Benefit Liabilities

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

	March 31, 2022		September 30, 2021
Retiree medical liability	$	41	$	42
Pension liability	122		141
Other	19		19
Subtotal	182		202
Less: current portion (included in compensation and benefits, Note 11)	(11)		(11)
Retirement benefits	$	171	$	191

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):

	2022				2021
	Pension		Retiree Medical		Pension		Retiree Medical
Interest cost	$	(10)	$	(1)	$	(8)	$	(1)
Assumed return on plan assets	25		—		24		—
Amortization of prior service benefit	—		9		—		9
Recognized actuarial loss	(7)		(2)		(8)		(3)
Total income	$	8	$	6	$	8	$	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):

	2022				2021
	Pension		Retiree Medical		Pension		Retiree Medical
Interest cost	$	(19)	$	(1)	$	(17)	$	(1)
Assumed return on plan assets	49		—		48		—
Amortization of prior service benefit	—		17		—		18
Recognized actuarial loss	(14)		(5)		(16)		(6)
Total income	$	16	$	11	$	15	$	11

For the three months ended March 31, 2022 and 2021, the non-service cost components of the net periodic pension and Other Post-Employment Benefits ("OPEB") income were $14 million and $13 million, respectively, and are presented in Other income, net. For the six months ended March 31, 2022 and 2021, the non-service cost components of the net periodic pension and OPEB income were $27 million and $26 million, respectively, and are presented in Other income, net.