Postretirement Benefits (Tables)

3 Months Ended

Mar. 31, 2012

Postretirement Benefits

Components of net periodic benefit cost, other changes in plan assets and benefits obligations recognized in other comprehensive income and weighted-average assumptions used to determine net cost

	U.S. PensionBenefits						Non-U.S. PensionBenefits						OtherPostretirementBenefits
	March 31,						March 31,						March 31,
(Millions of dollars)	2012			2011			2012			2011			2012			2011
For the three months ended:
Components of net periodic benefit cost:
Service cost	$	46		$	39		$	28		$	27		$	24		$	21
Interest cost	154			162			45			43			55			63
Expected return on plan assets	(203		)	(199		)	(54		)	(50		)	(16		)	(18		)
Amortization of:
Transition obligation (asset)	—			—			—			—			1			1
Prior service cost (credit) (1)	5			5			—			1			(17		)	(14		)
Net actuarial loss (gain) (1)	124			113			24			18			25			27
Net periodic benefit cost	126			120			43			39			72			80
Curtailments, settlements and special termination benefits (2)	—			—			10			—			(40		)	—
Total cost included in operating profit	$	126		$	120		$	53		$	39		$	32		$	80

Weighted-average assumptions used to determine net cost:

Discount rate	4.3	%	5.1	%	4.3	%	4.6	%	4.3	%	5.0	%
Expected return on plan assets	8.0	%	8.5	%	7.1	%	7.1	%	8.0	%	8.5	%
Rate of compensation increase	4.5	%	4.5	%	3.9	%	4.2	%	4.4	%	4.4	%

(1)

Prior service costs and net actuarial losses for both pension and other postretirement benefits are generally amortized using the straight-line method over the average remaining service period to the full retirement eligibility date of employees expected to receive benefits from the plan. For other postretirement benefit plans in which all or almost all of the plan’s participants are fully eligible for benefits under the plan, prior service costs and net actuarial losses are amortized using the straight-line method over the remaining life expectancy of those participants.

(2)

Curtailments, settlements and special termination benefits were recognized in Other operating (income) expenses in the Consolidated Statement of Results of Operations.

Company costs related to U.S. and non-U.S. defined contribution plans

	Three Months Ended March 31,
(Millions of dollars)	2012		2011
U.S. Plans	$	101	$	82
Non-U.S. Plans	14		12
	$	115	$	94