Retirement Programs (Tables)

6 Months Ended

Jun. 30, 2024

Retirement Benefits [Abstract]

Components of Net Pension and Postretirement Benefits

The components of net pension and postretirement benefits other than pensions (“OPEB”) costs for the quarter and six months ended June 30, 2024 and 2023 are shown below:

	Quarter Ended June 30,				Six Months Ended June 30,
(Millions of dollars)	2024		2023		2024		2023
Amount recognized in Operating Profit
Service cost	$	21	$	21	$	42	$	42
Amount recognized in Net pension and OPEB cost (benefit), excluding service cost
Interest cost	91		94		182		186
Expected return on plan assets	(137)		(131)		(275)		(260)
Net amortization and deferral	(3)		(8)		(6)		(16)
	(49)		(45)		(99)		(90)
Net periodic benefit cost (benefit)	$	(28)	$	(24)	$	(57)	$	(48)