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Postretirement Benefits (Tables)
 9 Months Ended
Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]  
Components of net periodic cost and weighted-average assumptions used to determine net cost
 
U.S. Pension 
Benefits
 
Non-U.S. Pension 
Benefits
 
Other
Postretirement 
Benefits
(Millions of dollars)

September 30
 
September 30
 
September 30
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
For the three months ended:
 
 
 
 
 
 
 
 
 
 
 
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
30

 
$
45

 
$
22

 
$
28

 
$
20

 
$
26

Interest cost
129

 
151

 
30

 
37

 
33

 
46

Expected return on plan assets
(190
)
 
(224
)
 
(59
)
 
(70
)
 
(11
)
 
(15
)
Amortization of prior service cost (credit) 1
—

 
1

 
—

 
—

 
(15
)
 
(14
)
Actuarial loss (gain)
—

 
—

 
—

 
(18
)
 
—

 
(9
)
Net periodic benefit cost (benefit)
(31
)
 
(27
)
 
(7
)
 
(23
)
 
27

 
34

Curtailments and termination benefits 2
—

 
—

 
1

 
(2
)
 
—

 
(5
)
Total cost (benefit) included in operating profit
$
(31
)
 
$
(27
)
 
$
(6
)
 
$
(25
)
 
$
27

 
$
29

 
 
 
 
 
 
 
 
 
 
 
 
For the nine months ended:
 
 
 
 
 
 
 
 
 
 
 
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
89

 
$
136

 
$
68

 
$
85

 
$
61

 
$
76

Interest cost
388

 
454

 
90

 
112

 
98

 
138

Expected return on plan assets
(568
)
 
(672
)
 
(176
)
 
(207
)
 
(33
)
 
(43
)
Amortization of prior service cost (credit) 1
—

 
1

 
—

 
—

 
(45
)
 
(41
)
Actuarial loss (gain)
—

 
(8
)
 
—

 
(18
)
 
—

 
(9
)
Net periodic benefit cost (benefit)
(91
)
 
(89
)
 
(18
)
 
(28
)
 
81

 
121

Curtailments and termination benefits 2
—

 
(19
)
 
1

 
(2
)
 
(2
)
 
(5
)
Total cost (benefit) included in operating profit
$
(91
)
 
$
(108
)
 
$
(17
)
 
$
(30
)
 
$
79

 
$
116

 

 

 

 

 
 
 
 
Weighted-average assumptions used to determine net cost:
 
 
 
 
 
 
 
 
 
 
Discount rate used to measure service cost
4.5
%
 
3.8
%
 
2.9
%
 
3.3
%
 
4.4
%
 
3.9
%
Discount rate used to measure interest cost
3.4
%
 
3.8
%
 
2.8
%
 
3.3
%
 
3.3
%
 
3.9
%
Expected rate of return on plan assets
6.9
%
 
7.4
%
 
6.1
%
 
6.8
%
 
7.5
%
 
7.8
%
Rate of compensation increase
4.0
%
 
4.0
%
 
3.5
%
 
4.0
%
 
4.0
%
 
4.0
%
 
 
 
 
 
 
 
 
 
 
 
 

1 
Prior service cost (credit) for both pension and other postretirement benefits are generally amortized using the straight-line method over the average remaining service period of active employees expected to receive benefits from the plan. For pension plans in which all or almost all of the plan's participants are inactive and 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 cost (credit) are amortized using the straight-line method over the remaining life expectancy of those participants.
2 
Curtailments and termination benefits were recognized in Other operating (income) expenses in the Consolidated Statement of Results of Operations.
 
 
 
 
 
Components of net periodic cost and weighted-average assumptions used to determine net cost
 
U.S. Pension 
Benefits
 
Non-U.S. Pension 
Benefits
 
Other
Postretirement 
Benefits
(Millions of dollars)

September 30
 
September 30
 
September 30
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
For the three months ended:
 
 
 
 
 
 
 
 
 
 
 
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
30

 
$
45

 
$
22

 
$
28

 
$
20

 
$
26

Interest cost
129

 
151

 
30

 
37

 
33

 
46

Expected return on plan assets
(190
)
 
(224
)
 
(59
)
 
(70
)
 
(11
)
 
(15
)
Amortization of prior service cost (credit) 1
—

 
1

 
—

 
—

 
(15
)
 
(14
)
Actuarial loss (gain)
—

 
—

 
—

 
(18
)
 
—

 
(9
)
Net periodic benefit cost (benefit)
(31
)
 
(27
)
 
(7
)
 
(23
)
 
27

 
34

Curtailments and termination benefits 2
—

 
—

 
1

 
(2
)
 
—

 
(5
)
Total cost (benefit) included in operating profit
$
(31
)
 
$
(27
)
 
$
(6
)
 
$
(25
)
 
$
27

 
$
29

 
 
 
 
 
 
 
 
 
 
 
 
For the nine months ended:
 
 
 
 
 
 
 
 
 
 
 
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
89

 
$
136

 
$
68

 
$
85

 
$
61

 
$
76

Interest cost
388

 
454

 
90

 
112

 
98

 
138

Expected return on plan assets
(568
)
 
(672
)
 
(176
)
 
(207
)
 
(33
)
 
(43
)
Amortization of prior service cost (credit) 1
—

 
1

 
—

 
—

 
(45
)
 
(41
)
Actuarial loss (gain)
—

 
(8
)
 
—

 
(18
)
 
—

 
(9
)
Net periodic benefit cost (benefit)
(91
)
 
(89
)
 
(18
)
 
(28
)
 
81

 
121

Curtailments and termination benefits 2
—

 
(19
)
 
1

 
(2
)
 
(2
)
 
(5
)
Total cost (benefit) included in operating profit
$
(91
)
 
$
(108
)
 
$
(17
)
 
$
(30
)
 
$
79

 
$
116

 

 

 

 

 
 
 
 
Weighted-average assumptions used to determine net cost:
 
 
 
 
 
 
 
 
 
 
Discount rate used to measure service cost
4.5
%
 
3.8
%
 
2.9
%
 
3.3
%
 
4.4
%
 
3.9
%
Discount rate used to measure interest cost
3.4
%
 
3.8
%
 
2.8
%
 
3.3
%
 
3.3
%
 
3.9
%
Expected rate of return on plan assets
6.9
%
 
7.4
%
 
6.1
%
 
6.8
%
 
7.5
%
 
7.8
%
Rate of compensation increase
4.0
%
 
4.0
%
 
3.5
%
 
4.0
%
 
4.0
%
 
4.0
%
 
 
 
 
 
 
 
 
 
 
 
 

1 
Prior service cost (credit) for both pension and other postretirement benefits are generally amortized using the straight-line method over the average remaining service period of active employees expected to receive benefits from the plan. For pension plans in which all or almost all of the plan's participants are inactive and 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 cost (credit) are amortized using the straight-line method over the remaining life expectancy of those participants.
2 
Curtailments and 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
Total company costs related to our defined contribution plans were as follows:
 
 
 
 
 
 
 
 
 
 
Three Months Ended
September 30
 
Nine Months Ended
September 30
(Millions of dollars)
2016
 
2015
 
2016
 
2015
U.S. Plans
$
83

 
$
31

 
$
235

 
$
188

Non-U.S. Plans
16

 
19

 
51

 
58

 
$
99

 
$
50

 
$
286

 
$
246