Investment and Other Income (Loss), Net

12 Months Ended

Dec. 31, 2023

Investment and Other Income (Loss), Net [Abstract]

Investment and Other Income (Loss), Net

(12) Investment and Other Income (Loss), Net:

The components of investment and other income (loss), net are as follows:

	Successor						Predecessor
	For the year ended		For the year ended		For the eight months		For the four months
	December 31,		December 31,		ended December 31,		ended April 30,
($ in millions)	2023		2022		2021		2021
Interest and dividend income	$	87	$	42	$	1	$	-
Pension benefit		19		75		52		6
OPEB costs		(9)		(18)		(50)		(4)
OPEB remeasurement (loss) gain		(3)		248		-		-
Pension remeasurement gain		202		218		-		-
All other, net		(18)		(11)		(8)		(1)
Total investment and other income (loss), net	$	278	$	554	$	(5)	$	1

During 2023, we amended the medical coverage for certain postretirement benefit plans, which resulted in remeasurement loses of $3 million, primarily due to discount rate changes. For the pension plan, we had a remeasurement gain of $202 million, primarily due to strong investment performance during 2023.

During 2022, we recorded an actuarial gain of $248 million as a result of remeasurements due to amendments in the medical coverage for certain postretirement benefit plans, discount rate changes, as well as regular period end remeasurements. As a result of pension settlement charges incurred during 2023, we had a remeasurement gain of $218 million, which included period end remeasurement. Refer to Note 19 for further details.

Pension and OPEB benefit (cost) consists of interest 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.