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## Notes to Consolidated Financial Statements — (Continued) Becton, Dickinson and Company 

The benefit obligation associated with postretirement healthcare and life insurance plans provided to qualifying domestic retirees, which was largely recorded to Long-Term Employee Benefit Obligations,  was $148 million and $153 million at September 30, 2020 and 2019, respectively. 

Pension plans with accumulated benefit obligations in excess of plan assets and plans with projected benefit obligations in excess of plan assets consist of the following at September 30: 

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The estimated net actuarial loss and prior service credit that will be amortized from Accumulated other comprehensive income (loss)  into net pension costs over the next fiscal year for pension benefits and other postretirement benefits are not material. 

The weighted average assumptions used in determining pension plan information were as follows: 

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(a) The Company calculated the service and interest components utilizing an approach that discounts the individual expected cash flows using the applicable spot rates derived from the yield curve over the projected cash flow period. 

## Expected Rate of Return on Plan Assets 

The expected rate of return on plan assets is based upon expectations of long-term average rates of return to be achieved by the underlying investment portfolios. In establishing this assumption, the Company considers many factors, including historical assumptions compared with actual results; benchmark data; expected returns on various plan asset classes, as well as current and expected asset allocations. 

