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PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Tables) | 9 Months Ended
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Sep. 30, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] |
Schedule of Components of Net Periodic Benefit Cost | 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 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |
Interest cost |  | 25 |  |  | 29 |  |  | 1 |  |  | 7 |  |  | 2 |  |  | 2 |
Expected return on plan assets |  | (37) |  |  | (35) |  |  | (1) |  |  | (6) |  |  | — |  |  | — |
Amortization: |  |  |  |  |  |  |  |  |  |  |  |
Actuarial loss |  | 10 |  |  | 9 |  |  | — |  |  | 1 |  |  | — |  |  | — |
Prior service credit |  | — |  |  | — |  |  | — |  |  | — |  |  | (1) |  |  | (10) |
Settlement and curtailment (gain) loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net periodic benefit cost (credit) |  | $ | (1) |  |  | $ | 4 |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | (8) |
|  | Nine Months Ended September 30,
|  | United States Pension Benefits |  | Foreign Pension Benefits |  | Other Postretirement Benefits
Millions of dollars |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost |  | $ | 2 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |
Interest cost |  | 76 |  |  | 86 |  |  | 9 |  |  | 20 |  |  | 5 |  |  | 5 |
Expected return on plan assets |  | (110) |  |  | (106) |  |  | (7) |  |  | (17) |  |  | — |  |  | — |
Amortization: |  |  |  |  |  |  |  |  |  |  |  |
Actuarial loss |  | 30 |  |  | 28 |  |  | 1 |  |  | 4 |  |  | — |  |  | — |
Prior service credit |  | — |  |  | — |  |  | — |  |  | — |  |  | (1) |  |  | (31) |
Settlement and curtailment (gain) loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net periodic benefit cost (credit) |  | $ | (2) |  |  | $ | 10 |  |  | $ | 5 |  |  | $ | 9 |  |  | $ | 4 |  |  | $ | (26) |
Schedule of Net Periodic Cost Recognized in Operating Profit and Interest and Sundry (Income) Expense | 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 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Operating profit (loss) |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |
Interest and sundry (income) expense |  | (2) |  |  | 3 |  |  | — |  |  | 2 |  |  | 1 |  |  | (8) |
Net periodic benefit cost |  | $ | (1) |  |  | $ | 4 |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | (8) |
|  | Nine Months Ended September 30,
|  | United States Pension Benefits |  | Foreign Pension Benefits |  | Other Postretirement Benefits
Millions of dollars |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Operating profit (loss) |  | $ | 2 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |
Interest and sundry (income) expense |  | (4) |  |  | 8 |  |  | 3 |  |  | 7 |  |  | 4 |  |  | (26) |
Net periodic benefit cost |  | $ | (2) |  |  | $ | 10 |  |  | $ | 5 |  |  | $ | 9 |  |  | $ | 4 |  |  | $ | (26) |

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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 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480482/715-20-55-17 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-2 + Details
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