XML 33 R21.htm IDEA: XBRL DOCUMENT v3.24.3
Employee Benefit Plans
 9 Months Ended
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
2024202320242023
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.