XML 70 R14.htm IDEA: XBRL DOCUMENT v3.19.3
Pension and Other Postretirement Benefit Plans
9 Months Ended
Sep. 30, 2019
Retirement 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 September 30,


United States
Pension Benefits

Foreign
Pension Benefits

Other Postretirement
Benefits
Millions of dollars

2019

2018

2019

2018

2019

2018
Service cost

$
1


$
1


$
1


$
1


$
2


$
2

Interest cost

30


30


5


5


4


3

Expected return on plan assets

(44
)

(43
)

(6
)

(8
)




Amortization:












Actuarial loss

11


14


2


2





Prior service credit

(1
)

(1
)





(2
)

(3
)
Settlement and curtailment (gain) loss

10






1




4

Net periodic cost

$
7


$
1


$
2


$
1


$
4


$
6


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30,
 
 
United States
Pension Benefits
 
Foreign
Pension Benefits
 
Other Postretirement
Benefits
Millions of dollars
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Service cost
 
$
2

 
$
2

 
$
4

 
$
4

 
$
5

 
$
5

Interest cost
 
92

 
89

 
17

 
17

 
12

 
10

Expected return on plan assets
 
(133
)
 
(128
)
 
(21
)
 
(25
)
 

 

Amortization:
 

 
 
 
 
 
 
 
 
 
 
Actuarial loss
 
35

 
40

 
6

 
7

 

 

Prior service credit
 
(2
)
 
(2
)
 

 

 
(7
)
 
(2
)
Settlement and curtailment (gain) loss
 
10

 

 
1

 
(2
)
 
(7
)
 
4

Net periodic cost
 
$
4

 
$
1

 
$
7

 
$
1

 
$
3

 
$
17


The following table summarizes the net periodic cost recognized in operating profit and interest and sundry (income) expense for the periods presented:
 
 
Three Months Ended September 30,
 
 
United States
Pension Benefits
 
Foreign
Pension Benefits
 
Other Postretirement
Benefits
Millions of dollars
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Operating profit (loss)
 
$
1

 
$
1

 
$
1

 
$
1

 
$
2

 
$
2

Interest and sundry (income) expense
 
6

 

 
1

 

 
2

 
4

Net periodic benefit cost
 
$
7

 
$
1

 
$
2

 
$
1

 
$
4

 
$
6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30,
 
 
United States
Pension Benefits
 
Foreign
Pension Benefits
 
Other Postretirement
Benefits
Millions of dollars
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Operating profit (loss)
 
$
2

 
$
2

 
$
4

 
$
4

 
$
5

 
$
5

Interest and sundry (income) expense
 
2

 
(1
)
 
3

 
(3
)
 
(2
)
 
12

Net periodic benefit cost
 
$
4

 
$
1

 
$
7

 
$
1

 
$
3

 
$
17


On September 15, 2018, we contributed $358 million in cash contributions to the pension trust for our U.S. defined benefit pension plans, which included $350 million of discretionary contributions. There have been no contributions to the pension trust for our U.S. defined benefit plan during the nine months ended September 30, 2019.