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v3.24.3

Employee Benefit Plans | 9 Months Ended
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Sep. 30, 2024
Retirement Benefits [Abstract] |
Employee Benefit Plans | Note 14—Employee Benefit Plans Pension and Postretirement Plans
| Millions of Dollars
| Pension Benefits |  | Other Benefits
| 2024 |  | 2023 |  | 2024 |  | 2023
| U.S. |  | Int'l. |  | U.S. |  | Int'l. |  |  |  |
Components of Net Periodic Benefit Cost |  |  |  |  |  |  |  |  |  |  |
Three Months Ended September 30 |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | 12 |  |  | 9 |  |  | 12 |  |  | 10 |  |  | — |  |  | — |
Interest cost | 19 |  |  | 28 |  |  | 19 |  |  | 28 |  |  | 1 |  |  | 1 |
Expected return on plan assets | (16) |  |  | (41) |  |  | (15) |  |  | (38) |  |  |  |  |
Amortization of prior service credit | — |  |  | — |  |  | — |  |  | — |  |  | (10) |  |  | (9) |
Recognized net actuarial loss (gain) | 1 |  |  | 15 |  |  | 3 |  |  | 16 |  |  | — |  |  | (1) |
Settlements | — |  |  | — |  |  | 2 |  |  | — |  |  |  |  |
Net periodic benefit cost | $ | 16 |  |  | 11 |  |  | 21 |  |  | 16 |  |  | (9) |  |  | (9) |
Nine Months Ended September 30 |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | 37 |  |  | 28 |  |  | 38 |  |  | 29 |  |  | 1 |  |  | — |
Interest cost | 57 |  |  | 85 |  |  | 58 |  |  | 85 |  |  | 4 |  |  | 4 |
Expected return on plan assets | (49) |  |  | (122) |  |  | (44) |  |  | (112) |  |  |  |  |
Amortization of prior service credit | — |  |  | — |  |  | — |  |  | — |  |  | (29) |  |  | (28) |
Recognized net actuarial loss (gain) | 5 |  |  | 43 |  |  | 9 |  |  | 50 |  |  | — |  |  | (3) |
Settlements | — |  |  | — |  |  | 6 |  |  | — |  |  |  |  |
Net periodic benefit cost | $ | 50 |  |  | 34 |  |  | 67 |  |  | 52 |  |  | (24) |  |  | (27) |
The components of net periodic benefit cost, other than the service cost component, are included in the "Other expenses" line of our consolidated income statement. During the first nine months of 2024, we contributed $90 million to our domestic benefit plans and $81 million to our international benefit plans. We expect our total contributions in 2024 to be approximately $100 million to our domestic qualified and nonqualified pension and postretirement benefit plans and $95 million to our international qualified and nonqualified pension and postretirement benefit plans.

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