Retirement Programs (Tables)

6 Months Ended

Jun. 30, 2022

Retirement Benefits, Description [Abstract]

Schedule of Pension and OPEB Net Periodic Benefit Costs

The components of net pension and postretirement benefits other than pensions (“OPEB”) costs for the quarter and six months ended June 30, 2022 and 2021 are shown below:

	Quarter Ended June 30,				Six Months Ended June 30,
(Millions of dollars)	2022		2021		2022		2021
Amount recognized in Operating Profit
Service cost	$	32	$	39	$	65	$	79
Amount recognized in Net pension and OPEB cost (benefit), excluding service cost
Interest cost	51		38		104		77
Expected return on plan assets	(132)		(131)		(268)		(262)
Net amortization and deferral	19		44		38		87
	(62)		(49)		(126)		(98)
Net periodic benefit cost (benefit)	$	(30)	$	(10)	$	(61)	$	(19)