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What us the pension expense? Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2021, Abbott and Abbott received the following

What us the pension expense?

Abbott and Abbott has a noncontributory, defined benefit pension plan. At December 31, 2021, Abbott and Abbott received the following information:

Projected Benefit Obligation ($ in millions)
Balance, January 1 $ 125
Service cost 32
Interest cost 15
Benefits paid (10 )
Balance, December 31 $ 162

Plan Assets
Balance, January 1 $ 75
Actual return on plan assets 11
Contributions 2021 32
Benefits paid (10 )
Balance, December 31 $ 108

The expected long-term rate of return on plan assets was 12%. There was no prior service cost and a negligible net lossAOCI on January 1, 2021.

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