Pension and Other Postretirement Benefits

9 Months Ended

Sep. 30, 2023

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits

Pension and Other Postretirement Benefits

Pension and other postretirement benefit costs for the three and nine months ended September 30, 2023 and 2022 were as follows:

	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	Pension				Other Postretirement Benefits				Pension				Other Postretirement Benefits
In millions	2023		2022		2023		2022		2023		2022		2023		2022
Components of net periodic benefit cost:
Service cost	$	9	$	11	$	1	$	2	$	27	$	35	$	3	$	5
Interest cost	24		13		5		3		70		38		17		10
Expected return on plan assets	(33)		(24)		(5)		(7)		(97)		(76)		(16)		(20)
Amortization of actuarial loss (gain)	—		5		(1)		(1)		2		18		(3)		(3)
Amortization of prior service cost	1		1		—		—		1		1		—		—
Settlements	—		1		—		—		—		1		—		—
Total net periodic benefit cost (income)	$	1	$	7	$	—	$	(3)	$	3	$	17	$	1	$	(8)

The service cost component of net periodic benefit cost is presented within Cost of revenue and Selling, administrative, and research and development expenses in the Statement of Income while the other components of net periodic benefit cost are presented within Other income (expense).

The Company expects to contribute approximately $13 million to its pension plans and $5 million to its other postretirement benefit plans in 2023. As of September 30, 2023, contributions of $8 million to pension plans and $4 million to other postretirement benefit plans have been made.