Return on assets held at end of year

  
The following table shows how the fair value of the Level 3 assets changed during each of the last two years. There were no transfers of assets between Level 3 and either of the other two levels. 

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Level 3 |
| Balance as of April 30, 2020 |  |  |  |  |  |  | $ | 2  |  |
| Return on assets held at end of year |  |  |  |  |  |  | 1  |  |
|  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |
| Sales and settlements |  |  |  |  |  |  | (1) |  |
| Balance as of April 30, 2021 |  |  |  |  |  |  | 2  |  |
| Return on assets held at end of year |  |  |  |  |  |  | —  |  |
|  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |
| Sales and settlements |  |  |  |  |  |  | —  |  |
| Balance as of April 30, 2022 |  |  |  |  |  |  | $ | 2  |  |

The following table shows how the total fair value of all pension plan assets changed during each of the last two years. (We do not have assets set aside for postretirement medical or life insurance benefits.) 

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | Pension Benefits |  | Medical and LifeInsurance Benefits |
|   | 2021 |  | 2022 |  | 2021 |  | 2022 |
| Assets at beginning of year | $ | 749  |  |  | $ | 836  |  |  | $ | —  |  |  | $ | —  |  |
| Actual return on assets | 124  |  |  | (25) |  |  | —  |  |  | —  |  |
| Retiree contributions | —  |  |  | —  |  |  | 1  |  |  | 1  |  |
| Company contributions | 16  |  |  | 12  |  |  | 3  |  |  | 3  |  |
| Benefits paid | (53) |  |  | (82) |  |  | (4) |  |  | (4) |  |
| Assets at end of year | $ | 836  |  |  | $ | 741  |  |  | $ | —  |  |  | $ | —  |  |

We currently expect to contribute $13 to our pension plans and $3 to our postretirement medical and life insurance benefit plans during 2023.Funded status. The funded status of a plan refers to the difference between its assets and its obligations. The following table shows the funded status of our plans.

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | Pension Benefits |  | Medical and LifeInsurance Benefits |
| April 30, | 2021 |  | 2022 |  | 2021 |  | 2022 |
| Assets | $ | 836  |  |  | $ | 741  |  |  | $ | —  |  |  | $ | —  |  |
| Obligations | (1,012) |  |  | (846) |  |  | (49) |  |  | (43) |  |
| Funded status | $ | (176) |  |  | $ | (105) |  |  | $ | (49) |  |  | $ | (43) |  |

  
The funded status is recorded on the accompanying consolidated balance sheets as follows: 

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   |  | Pension Benefits |  | Medical and LifeInsurance Benefits |
| April 30, |  | 2021 |  | 2022 |  | 2021 |  | 2022 |
| Other assets |  | $ | 4  |  |  | $ | 46  |  |  | $ | —  |  |  | $ | —  |  |
| Accounts payable and accrued expenses |  | (7) |  |  | (8) |  |  | (3) |  |  | (3) |  |
| Accrued pension and other postretirement benefits |  | (173) |  |  | (143) |  |  | (46) |  |  | (40) |  |
| Net liability |  | $ | (176) |  |  | $ | (105) |  |  | $ | (49) |  |  | $ | (43) |  |
| Accumulated other comprehensive income (loss), before tax: |  |  |  |  |  |  |  |  |
| Net actuarial gain (loss) |  | $ | (298) |  |  | $ | (201) |  |  | $ | (9) |  |  | $ | (3) |  |
| Prior service credit (cost) |  | (5) |  |  | (4) |  |  | 4  |  |  | 2  |  |
|  |  | $ | (303) |  |  | $ | (205) |  |  | $ | (5) |  |  | $ | (1) |  |

  
  
68
