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Pension and Other Postretirement Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2021

Retirement Benefits [Abstract]

Schedule of Defined Benefit Plans Disclosures

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						2021						2020						2021						2020						2021						2020
Service cost						$	—					$	—					$	2					$	1					$	—					$	1
Interest cost						19						24						3						5						2						3
Expected return on plan assets						(40)						(41)						(8)						(7)						—						—
Amortization:
Actuarial loss						18						16						5						3						—						—
Prior service credit						—						—						—						—						(12)						(2)
Settlement and curtailment (gain) loss						3						—						—						—						—						(4)
Net periodic benefit cost (credit)						$	—					$	(1)					$	2					$	2					$	(10)					$	(2)

						Six Months Ended June 30,
						United States Pension Benefits												Foreign Pension Benefits												Other Postretirement Benefits
Millions of dollars						2021						2020						2021						2020						2021						2020
Service cost						$	1					$	1					$	3					$	3					$	—					$	3
Interest cost						38						49						7						9						3						6
Expected return on plan assets						(79)						(82)						(17)						(15)						—						—
Amortization:
Actuarial loss						35						31						10						6						—						—
Prior service credit						—						—						—						—						(23)						(4)
Settlement and curtailment (gain) loss						3						—						—						—						—						(4)
Net periodic benefit cost (credit)						$	(2)					$	(1)					$	3					$	3					$	(20)					$	1

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 June 30,
						United States Pension Benefits												Foreign Pension Benefits												Other Postretirement Benefits
Millions of dollars						2021						2020						2021						2020						2021						2020
Operating profit (loss)						$	—					$	—					$	2					$	1					$	—					$	1
Interest and sundry (income) expense						—						(1)						—						1						(10)						(3)
Net periodic benefit cost						$	—					$	(1)					$	2					$	2					$	(10)					$	(2)

						Six Months Ended June 30,
						United States Pension Benefits												Foreign Pension Benefits												Other Postretirement Benefits
Millions of dollars						2021						2020						2021						2020						2021						2020
Operating profit (loss)						$	1					$	1					$	3					$	3					$	—					$	3
Interest and sundry (income) expense						(3)						(2)						—						—						(20)						(2)
Net periodic benefit cost						$	(2)					$	(1)					$	3					$	3					$	(20)					$	1

X

- References

No definition available.

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- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2439-114920

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2410-114920

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2417-114920

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