Investment And Other Income

9 Months Ended

Sep. 30, 2023

Investment And Other Income [Abstract]

Investment And Other Income

(10) Investment and Other Income:

The following is a summary of the components of Investment and Other Income:

	For the three months ended ‎September 30,				For the nine months ended ‎September 30,
($ in millions)	2023		2022		2023		2022
Interest and dividend income	$	22	$	16	$	60	$	24
Pension benefit		5		24		14		74
OPEB costs		(2)		(5)		(7)		(13)
OPEB remeasurement gain		46		84		38		234
Pension remeasurement gain		-		91		-		91
All other, net		(4)		1		(4)		-
Total investment and other income, net	$	67	$	211	$	101	$	410

In the first nine months of 2023, Frontier amended the medical coverage for certain postretirement benefit plans, which resulted in an $38 million net remeasurement gain. The net gain was comprised of a loss of $20 million in the first quarter, offset by a remeasurement gain of $12 million in the second quarter, and a gain of $46 million in the third quarter, primarily due to discount rate changes.

Pension and OPEB benefit (cost) consist of interest income (costs), expected return on plan assets, amortization of prior service (costs) and recognition of actuarial (gain) loss. Service cost components of pension and OPEB benefit costs are included in “Selling, general, and administrative expenses” on our consolidated statements of income.