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## Notes to Consolidated Financial Statements (Continued) 

The components of net pension expense for the years ended December 31 for the Company’s defined benefit retirement plans subsequent to the Distribution are as follows (in millions): 

<img src='content_image/113087.jpg'>

The weighted average actuarial assumptions used in accounting for the Company’s defined benefit retirement plans were as follows: 

<img src='content_image/113089.jpg'>

The expected long-term rate of return on plan assets for the U.S. and Puerto Rico defined benefit retirement plans is based on the period expected benefits will be paid and the historical rates of return on the different asset classes held in the plans. The Company believes that historical asset results approximate expected market returns applicable to the funding of a long- term benefit obligation. 

