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Employee Benefits
 9 Months Ended
Sep. 30, 2022
Retirement Benefits [Abstract]  
Employee Benefits Employee BenefitsChevron has defined benefit pension plans for many employees. The company typically prefunds defined benefit plans as required by local regulations or in certain situations where prefunding provides economic advantages. In the United States, all qualified plans are subject to the Employee Retirement Income Security Act minimum funding standard. The company does not typically fund U.S. nonqualified pension plans that are not subject to funding requirements under laws and regulations because contributions to these pension plans may be less economic and investment returns may be less attractive than the company’s other investment alternatives.
The company also sponsors other postretirement employee benefit (OPEB) plans that provide medical and dental benefits, as well as life insurance for some active and qualifying retired employees. The plans are unfunded, and the company and the retirees share the costs. For the company’s main U.S. medical plan, the increase to the pre-Medicare company contribution for retiree medical coverage is limited to no more than four percent each year. Certain life insurance benefits are paid by the company.
The components of net periodic benefit costs for 2022 and 2021 are as follows:
 Three Months Ended
September 30		Nine Months Ended
September 30
 2022202120222021
(Millions of dollars)(Millions of dollars)
Pension Benefits
United States
Service cost$116 $112 $351 $337 
Interest cost72 56 207 175 
Expected return on plan assets(161)(145)(484)(439)
Amortization of prior service costs (credits) — — 1 1 
Amortization of actuarial losses (gains)55 68 180 245 
Settlement losses233 108 340 576 
Total United States315 199 595 895 
International
Service cost20 27 63 98 
Interest cost33 35 104 104 
Expected return on plan assets(43)(42)(135)(131)
Amortization of prior service costs (credits)2 2 5 6 
Amortization of actuarial losses (gains)4 11 12 35 
Settlement losses— (1)(9)(1)
Total International16 32 40 111 
Net Periodic Pension Benefit Costs$331 $231 $635 $1,006 
Other Benefits*
Service cost$11 $11 $32 $32 
Interest cost14 15 45 41 
Amortization of prior service costs (credits)(7)(7)(20)(20)
Amortization of actuarial losses (gains)4 3 10 11 
Net Periodic Other Benefit Costs$22 $22 $67 $64 
* Includes costs for U.S. and international OPEB plans. Obligations for plans outside the United States are not significant relative to the company’s total OPEB obligation.
Through September 30, 2022, a total of $1.1 billion was contributed to employee pension plans (including $953 million to the U.S. plans). Contribution amounts are dependent upon plan investment returns, changes in pension obligations, regulatory requirements and other economic factors. Additional funding may ultimately be required if investment returns are insufficient to offset increases in plan obligations.
During the first nine months of 2022, the company contributed $121 million to its OPEB plans.