Meritor Acquisition and 2022 Financial Results
Table of Contents
Obligations and Funded Status
Benefit obligation balances presented below reflect the accumulated postretirement benefit obligations for our OPEB plans. The changes in the benefit obligations, the funded
status of the plans and the amounts recognized in our Consolidated Balance Sheets for our significant OPEB plans were as follows:
In millions
Change in benefit obligation
Benefit obligation at the beginning of the year
Interest cost
Plan participants' contributions
Actuarial gain
Benefits paid directly by employer
Assumption of Meritor's benefit obligation
Benefit obligation at end of year
Funded status at end of year
Amounts recognized in consolidated balance sheets
Accrued compensation, benefits and retirement costs
Other liabilities
Net amount recognized
Amounts recognized in accumulated other comprehensive loss
Net actuarial gain
Prior service credit
Net amount recognized
December 31,
2022
2021
$
192 $
219
5
5
4
14
(25)
(8)
(36)
(38)
22
$
162 $
192
$
(162) $
(192)
$
(21) $
(19)
(141)
(173)
$
(162) $
(192)
$
(44) $
(18)
(3)
(4)
$
(47) $
(22)
In addition to the OPEB plans in the above table, we also maintain less significant OPEB plans infive other countries outside the U.S. that comprise approximately 14 percent
and 8 percent of our OPEB obligations at December 31, 2022 and 2021, respectively. These plans are reflected in other liabilities in ouConsolidated Balance Sheets.
Components of Net Periodic OPEB Cost
The following table presents the net periodic OPEB cost under our plans:
In millions
Interest cost
Recognized net actuarial gain
Net periodic OPEB cost
Years ended December 31,
2022
2021
2020
5 $
5 $
7
(1)
$
5
$
5
$
6
Other changes in benefit obligations recognized in other comprehensive (income) loss for the years ended December 31 were as follows:
In millions
Recognized net actuarial gain
Incurred actuarial (gain) loss
Total recognized in other comprehensive (income) loss
Total recognized in net periodic OPEB cost and other comprehensive (income) loss
104
Years ended December 31,
2022
2021
2020
$
$
1
(25)
(8)
14
$
(25) $
(8) $
15
(20) $
(3)
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