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Pensions (Tables) | 12 Months Ended
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Dec. 31, 2019
Disclosure of defined benefit plans [abstract] |
Net pension cost [table text block] |
Net pension cost
(in USD million) | 2019 | 2018 | 2017
Current service cost | 206 | 214 | 242
Losses/(gains) from curtailment, settlement or plan amendment | 3 | 20 | 15
Actuarial(gains)/losses related to termination benefits | (0) | 0 | (1)
Notional contribution plans | 56 | 55 | 51
Defined benefit plans | 265 | 289 | 308
Defined contribution plans | 182 | 173 | 162
Total net pension cost | 446 | 462 | 469
Disclosure of defined benefit plans [table text block] |
(in USD million) | 2019 | 2018
Defined benefit obligations (DBO) |  |
Defined benefit obligations at 1 January | 8,176 | 8,286
Current service cost | 206 | 214
Interest cost | 263 | 182
Actuarial (gains)/losses - Financial assumptions | (23) | 174
Actuarial (gains)/losses - Experience | 6 | (27)
Benefits paid | (236) | (219)
Losses/(gains) from curtailment, settlement or plan amendment | 0 | (1)
Paid-up policies | (14) | (18)
Foreign currency translation | (71) | (469)
Changes in notional contribution liability | 56 | 55
Defined benefit obligations at 31 December | 8,363 | 8,176
Fair value of plan assets |  |
Fair value of plan assets at 1 January | 5,187 | 5,687
Interest income | 143 | 136
Return on plan assets (excluding interest income) | 384 | (135)
Company contributions | 127 | 49
Benefits paid | (195) | (217)
Paid-up policies and personal insurance | (13) | (18)
Foreign currency translation | (44) | (315)
Fair value of plan assets at 31 December | 5,589 | 5,187
Net pension liability at 31 December | (2,774) | (2,990)
Represented by: |  |
Asset recognised as non-current pension assets (funded plan) | 1,093 | 831
Liability recognised as non-current pension liabilities (unfunded plans) | (3,867) | (3,821)
DBO specified by funded and unfunded pension plans | 8,363 | 8,176
Funded | 4,496 | 4,359
Unfunded | 3,867 | 3,817
Actual return on assets | 527 | 1
Actuarial losses and gains recognised directly in Other comprehensive income [text block] |
Actuarial losses and gains recognised directly in Other comprehensive income (OCI) |  |  |
(in USD million) | 2019 | 2018 | 2017
Net actuarial (losses)/gains recognised in OCI during the year | 401 | (282) | 331
Actuarial (losses)/gains related to currency effects on net obligation and foreign exchange translation | 27 | 172 | (158)
Tax effects of actuarial (losses)/gains recognised in OCI | (98) | 22 | (38)
Recognised directly in OCI during the year net of tax | 330 | (88) | 135
Cumulative actuarial (losses)/gains recognised directly in OCI net of tax | (812) | (1,141) | (1,053)
Actuarial assumptions [text block] |
Actuarial assumptions
| Assumptions used to determine benefit costs in % | Assumptions used to determine benefit obligations in %
| 2019 | 2018 | 2019 | 2018
Discount rate | 2.75 | 2.50 | 2.25 | 2.75
Rate of compensation increase | 2.75 | 2.25 | 2.25 | 2.75
Expected rate of pension increase | 2.00 | 1.75 | 1.50 | 2.00
Expected increase of social security base amount (G-amount) | 2.75 | 2.25 | 2.25 | 2.75
Weighted-average duration of the defined benefit obligation |  |  | 15.8 | 15.9
Disclosure of sensitivity analysis for actuarial assumptions [table text block] |
| Discount rate | Expected rate of compensation increase | Expected rate of pension increase | Mortality assumption
(in USD million) | 0.50% | -0.50% | 0.50% | -0.50% | 0.50% | -0.50% | + 1 year | - 1 year
Changes in: |  |  |  |  |  |  |  |
Defined benefit obligation at 31 December 2019 | (596) | 675 | 213 | (202) | 518 | (471) | 298 | (325)
Service cost 2020 | (21) | 24 | 11 | (10) | 15 | (14) | 7 | (8)
Portfolio weighting as approved by the board of Statoil Pension [text block] |
Pension assets on investments classes | Target portfolio weight
(in %) | 2019 | 2018
Equity securities | 32.3 | 36.5 | 27 - 38
Bonds | 46.4 | 44.9 | 40 - 53
Money market instruments | 14.5 | 12.3 | 0 - 29
Real estate | 6.3 | 6.3 | 5 - 10
Other assets | 0.5 | 0.0 |
Total | 100.0 | 100.0 |

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- Definition The disclosure of defined benefit plans. [Refer: Defined benefit plans [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2019-01-01 -Paragraph 138 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=19&code=ifrs-tx-2019-en-r&anchor=para_138&doctype=Standard -URIDate 2019-03-27 + Details
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