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Pension and Other Postretirement Benefit Plans | 6 Months Ended
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Jun. 30, 2015
General Discussion of Pension and Other Postretirement Benefits [Abstract] |
Pension and Other Postretirement Benefit Plans | PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS The following table summarizes the components of net periodic pension cost and the cost of other postretirement benefits for the periods presented:
|  | Three Months Ended June 30,
|  | United States Pension Benefits |  | Foreign Pension Benefits |  | Other Postretirement Benefits
Millions of dollars |  | 2015 |  | 2014 |  | 2015 |  | 2014 |  | 2015 |  | 2014
Service cost |  | $ | — |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |
Interest cost |  | 37 |  |  | 42 |  |  | 7 |  |  | 5 |  |  | 5 |  |  | 6 |
Expected return on plan assets |  | (47 | ) |  | (48 | ) |  | (9 | ) |  | (3 | ) |  | — |  |  | — |
Amortization: |  |  |  |  |  |  |  |  |  |  |  |
Actuarial loss |  | 14 |  |  | 10 |  |  | 2 |  |  | 1 |  |  | — |  |  | — |
Prior service credit |  | (1 | ) |  | (1 | ) |  | — |  |  | — |  |  | (5 | ) |  | (9 | )
Settlement and curtailment loss |  | — |  |  | — |  |  | 4 |  |  | 2 |  |  | — |  |  | — |
Net periodic benefit cost (credit) |  | $ | 3 |  |  | $ | 4 |  |  | $ | 6 |  |  | $ | 7 |  |  | $ | — |  |  | $ | (3 | )
|  | Six Months Ended June 30,
|  | United States Pension Benefits |  | Foreign Pension Benefits |  | Other Postretirement Benefits
Millions of dollars |  | 2015 |  | 2014 |  | 2015 |  | 2014 |  | 2015 |  | 2014
Service cost |  | $ | 1 |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 1 |
Interest cost |  | 75 |  |  | 84 |  |  | 15 |  |  | 9 |  |  | 10 |  |  | 12 |
Expected return on plan assets |  | (95 | ) |  | (96 | ) |  | (17 | ) |  | (6 | ) |  | — |  |  | — |
Amortization: |  |  |  |  |  |  |  |  |  |  |  |
Actuarial loss |  | 27 |  |  | 21 |  |  | 3 |  |  | 3 |  |  | — |  |  | — |
Prior service credit |  | (2 | ) |  | (2 | ) |  | — |  |  | — |  |  | (14 | ) |  | (19 | )
Settlement and curtailment (gain) loss |  | — |  |  | — |  |  | 12 |  |  | 2 |  |  | (47 | ) |  | — |
Net periodic benefit cost (credit) |  | $ | 6 |  |  | $ | 8 |  |  | $ | 16 |  |  | $ | 11 |  |  | $ | (50 | ) |  | $ | (6 | )
During the six months ended June 30, 2015, we recognized approximately $47 million from a curtailment gain due to the elimination of amounts credited to notional retiree health accounts for certain employees under age 50. The curtailment gain was recognized in our Consolidated Condensed Statement of Comprehensive Income with $43 million recorded in cost of products sold and the remaining balance in selling, general and administrative, with an offset to accumulated other comprehensive loss, net of tax.

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