Quarterly report pursuant to Section 13 or 15(d)

PENSION AND OTHER POSTRETIREMENT BENEFITS

v3.22.2.2
PENSION AND OTHER POSTRETIREMENT BENEFITS
 9 Months Ended
Sep. 30, 2022
Retirement Benefits [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFITS
NOTE 4. PENSIONS AND OTHER POSTRETIREMENT BENEFITS
We sponsor funded and unfunded domestic and foreign defined benefit pension and other postretirement benefit (OPEB) plans. Prior to the acquisition, Meritor provided a range of benefits to its employees and retirees, including pension benefits and postretirement healthcare benefits. As part of the acquisition, we assumed the assets and liabilities associated with these plans. Accordingly, on August 3, 2022, we recorded assets of $147 million and liabilities of $105 million on our Condensed Consolidated Balance Sheets related to Meritor's postretirement benefit plans.
Contributions to these plans were as follows:
  Three months ended Nine months ended
In millions September 30,
2022		 October 3,
2021		 September 30,
2022		 October 3,
2021
Defined benefit pension contributions $ 7  $ 13  $ 46  $ 67 
OPEB payments, net 9  5  25  19 
Defined contribution pension plans 26  20  82  72 
We anticipate making additional defined benefit pension contributions during the remainder of 2022 of $7 million for our U.S. and U.K. qualified and non-qualified pension plans. These contributions may be made from trusts or company funds either to increase pension assets or to make direct benefit payments to plan participants. We expect our 2022 annual net periodic pension cost to approximate $20 million.
The components of net periodic pension and OPEB costs under our plans were as follows:
  Pension    
  U.S. Plans U.K. Plans OPEB
  Three months ended
In millions September 30,
2022		 October 3,
2021		 September 30,
2022		 October 3,
2021		 September 30,
2022		 October 3,
2021
Service cost $ 35  $ 35  $ 7  $ 8  $ —  $ — 
Interest cost 27  20  10  8  2  1 
Expected return on plan assets (60) (49) (22) (22) —  — 
Amortization of prior service cost 1  —  —  1  —  — 
Recognized net actuarial loss 5  11  1  8  —  — 
Net periodic benefit cost (credit) $ 8  $ 17  $ (4) $ 3  $ 2  $ 1 
  Pension    
  U.S. Plans U.K. Plans OPEB
  Nine months ended
In millions September 30,
2022		 October 3,
2021		 September 30,
2022		 October 3,
2021		 September 30,
2022		 October 3,
2021
Service cost $ 103  $ 105  $ 23  $ 25  $ —  $ — 
Interest cost 71  59  28  23  4  3 
Expected return on plan assets (164) (149) (62) (65) —  — 
Amortization of prior service cost 1  —  —  2  —  — 
Recognized net actuarial loss 17  35  2  24  —  — 
Net periodic benefit cost (credit) $ 28  $ 50  $ (9) $ 9  $ 4  $ 3