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Retirement Plans
9 Months Ended
Sep. 30, 2016
Compensation And Retirement Disclosure [Abstract]  
Retirement Plans

16.

Retirement Plans

The following table presents the components of net periodic benefit cost for Devon’s pension and postretirement benefit plans.

 

 

 

Pension Benefits

 

 

Postretirement Benefits

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

 

 

(Millions)

 

Service cost

 

$

3

 

 

$

9

 

 

$

12

 

 

$

25

 

 

$

 

 

$

 

 

$

 

 

$

 

Interest cost

 

 

9

 

 

 

13

 

 

 

32

 

 

 

39

 

 

 

 

 

 

 

 

 

 

 

 

 

Expected return on plan assets

 

 

(14

)

 

 

(14

)

 

 

(40

)

 

 

(44

)

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of prior service cost (1)

 

 

1

 

 

 

1

 

 

 

2

 

 

 

3

 

 

 

 

 

 

 

 

 

(1

)

 

 

(1

)

Net actuarial loss (1)

 

 

6

 

 

 

5

 

 

 

19

 

 

 

15

 

 

 

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost (2)

 

$

5

 

 

$

14

 

 

$

25

 

 

$

38

 

 

$

 

 

$

 

 

$

(1

)

 

$

(1

)

 

(1)

These net periodic benefit costs were reclassified out of other comprehensive earnings in the current period.

(2)

Net periodic benefit cost is a component of G&A in the accompanying consolidated comprehensive statements of earnings.