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Pensions (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure of defined benefit plans [abstract]  
Net pension cost [table text block]
Net pension cost
(in USD million)
2021
2020
2019
Current service cost
209
184
206
Past service cost
3
-
-
Losses/(gains) from curtailment, settlement or plan
 
amendment
-
-
3
Notional contribution plans
60
55
56
Defined benefit plans
272
238
265
Defined contribution plans
213
192
182
Total net pension cost
488
432
446
Disclosure of defined benefit plans [table text block]
Changes in defined benefit obligations (DBO) and
 
plan assets during the year
(in USD million)
2021
2020
DBO at 1 January
9,216
8,363
Current service cost
208
184
Interest cost
238
203
Actuarial (gains)/losses - Financial assumptions
294
443
Actuarial (gains)/losses - Experience
(66)
(61)
Past service cost
3
-
Benefits paid
(295)
(250)
Paid-up policies
-
(7)
Foreign currency translation effects
(300)
286
Changes in notional contribution liability
60
55
DBO at 31 December
9,358
9,216
Fair value of plan assets at 1 January
6,234
5,589
Interest income
106
117
Return on plan assets (excluding interest income)
291
385
Company contributions
114
96
Benefits paid
(137)
(113)
Paid-up policies and personal insurance
-
(7)
Foreign currency translation effects
(204)
167
Fair value of plan assets at 31 December
6,404
6,234
Net pension liability at 31 December
(2,954)
(2,981)
Represented by:
Asset recognised as non-current pension assets
 
(funded plan)
1,449
1,310
Liability recognised as non-current pension liabilities
 
(unfunded plans)
(4,403)
(4,292)
DBO specified by funded and unfunded pension plans
9,359
9,216
Funded
4,959
4,927
Unfunded
4,400
4,288
Actual return on assets
397
501
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)
2021
2020
2019
Net actuarial (losses)/gains recognised in OCI
 
during the year
63
3
401
Foreign currency translation effects
84
(109)
27
Tax effects of actuarial (losses)/gains recognised in OCI
(35)
19
(98)
Recognised directly in OCI during the year, net of tax
112
(87)
330
Cumulative actuarial (losses)/gains recognised directly
 
in OCI, net of tax
(787)
(899)
(812)
Actuarial assumptions [text block]
Actuarial assumptions
Assumptions used to determine
benefit costs in %
Assumptions used to determine
benefit obligations in %
Rounded to the nearest quartile
2021
2020
2021
2020
Discount rate
1.75
2.25
2.00
1.75
Rate of compensation increase
2.00
2.25
2.50
2.00
Expected rate of pension increase
1.25
1.50
1.75
1.25
Expected increase of social security base amount (G-amount)
2.00
2.25
2.25
2.00
Weighted-average duration of the defined benefit obligation
15.2
15.6
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
Effect on:
Defined benefit obligation at 31 December 2021
(645)
731
157
(150)
601
(545)
367
(330)
Service cost 2022
(20)
24
10
(9)
16
(14)
8
(7)
Portfolio weighting as approved by the board of Statoil Pension [text block]
Pension assets on investments classes
Target portfolio
weight
(in %)
2021
2020
Equity securities
34.1
34.1
29-38
Bonds
50.2
50.2
46-59
Money market instruments
9.1
9.4
0-14
Real estate
6.6
6.4
5-10
Other assets, including derivatives
0.0
(0.1)
Total
100.0
100.0