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Pension and Other Postretirement Benefit Plans | 6 Months Ended
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Jun. 30, 2021
Compensation And Retirement Disclosure [Abstract] |
Pension and Other Postretirement Benefit Plans | 11. Pension and Other Postretirement Benefit Plans Net pension (credit) cost for the Schlumberger pension plans included the following components:
(Stated in millions) |
| Second Quarter |  |  | Six Months |
| 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
| US |  |  | Int’l |  |  | US |  |  | Int’l |  |  | US |  |  | Int’l |  |  | US |  |  | Int’l |
Service cost | $ | 12 |  |  | $ | 34 |  |  | $ | 16 |  |  | $ | 37 |  |  | $ | 23 |  |  | $ | 67 |  |  | $ | 31 |  |  | $ | 74 |
Interest cost |  | 31 |  |  |  | 63 |  |  |  | 38 |  |  |  | 75 |  |  |  | 63 |  |  |  | 132 |  |  |  | 75 |  |  |  | 150 |
Expected return on plan assets |  | (64 | ) |  |  | (161 | ) |  |  | (59 | ) |  |  | (147 | ) |  |  | (127 | ) |  |  | (319 | ) |  |  | (117 | ) |  |  | (294 | )
Amortization of prior service cost |  | - |  |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4 |  |  |  | - |
Amortization of net loss |  | 11 |  |  |  | 59 |  |  |  | 11 |  |  |  | 39 |  |  |  | 22 |  |  |  | 111 |  |  |  | 22 |  |  |  | 79 |
| $ | (10 | ) |  | $ | (5 | ) |  | $ | 8 |  |  | $ | 4 |  |  | $ | (19 | ) |  | $ | (9 | ) |  | $ | 15 |  |  | $ | 9 |
The net periodic benefit credit for the Schlumberger US postretirement medical plan included the following components:
(Stated in millions) |
| Second Quarter |  |  | Six Months |
| 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Service cost | $ | 6 |  |  | $ | 9 |  |  | $ | 13 |  |  | $ | 18 |
Interest cost |  | 8 |  |  |  | 10 |  |  |  | 16 |  |  |  | 20 |
Expected return on plan assets |  | (12 | ) |  |  | (17 | ) |  |  | (26 | ) |  |  | (34 | )
Amortization of prior service credit |  | (6 | ) |  |  | (7 | ) |  |  | (11 | ) |  |  | (14 | )
Curtailment gain |  | - |  |  |  | (69 | ) |  |  | - |  |  |  | (69 | )
| $ | (4 | ) |  | $ | (74 | ) |  | $ | (8 | ) |  | $ | (79 | )
Due to the actions taken by Schlumberger to reduce its global workforce during 2020, Schlumberger experienced a significant reduction in the expected aggregate years of future service of its employees in its US postretirement medical plan. Accordingly, Schlumberger recorded a curtailment gain of $69 million during the second quarter of 2020 relating to this plan. The curtailment gain includes recognition of the decrease in the benefit obligation as well as a portion of the previously unrecognized prior service credit, reflecting the reduction in expected years of future service. As a result of the curtailment, Schlumberger performed a remeasurement of the plan, which had an immaterial impact. This gain was classified in Impairments & other in the Consolidated Statement of Income (Loss). See Note 2 – Charges and Credits.

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