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Postretirement Benefits (Tables)

3 Months Ended

Mar. 31, 2025

Retirement Benefits [Abstract]

Schedule of net benefit costs

			U.S. Pension Benefits												Non-U.S. Pension Benefits												Other Postretirement Benefits
			March 31,												March 31,												March 31,
(Millions of dollars)			2025						2024						2025						2024						2025						2024
For the three months ended:
Components of net periodic benefit cost:
Service cost			$	—					$	—					$	11					$	11					$	16					$	17
Interest cost			153						156						28						30						31						33
Expected return on plan assets			(180)						(175)						(40)						(42)						(2)						(2)
Amortization of prior service cost (credit)			—						—						—						—						(1)						(3)
Net periodic benefit cost (benefit) 1			$	(27)					$	(19)					$	(1)					$	(1)					$	44					$	45

1 The service cost component is included in Operating costs. All other components are included in Other income (expense).

Summary of company costs related to U.S. and non-U.S. defined contribution plans

Total company costs related to our defined contribution plans, which are included in Operating costs in the Consolidated Statement of Results of Operations, were as follows:

									Three Months Ended March 31,
(Millions of dollars)															2025						2024
U.S. Plans 1															$	154					$	223
Non-U.S. Plans															33						30
															$	187					$	253

1 Includes costs related to our non-qualified deferred compensation plans. We utilize total return swaps to economically hedge this exposure to offset the related costs. See Note 5 for additional information.

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- References

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- Definition

Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 20
-Topic 715
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

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- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

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