Postretirement Benefits (Tables)

3 Months Ended

Mar. 31, 2018

Retirement Benefits [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)	March 31						March 31						March 31
	2018			2017			2018			2017			2018			2017
For the three months ended:
Components of net periodic benefit cost:
Service cost	$	32		$	29		$	22		$	23		$	21		$	19
Interest cost	133			131			25			25			31			33
Expected return on plan assets	(202		)	(184		)	(56		)	(57		)	(8		)	(9		)
Amortization of prior service cost (credit) 1	—			—			—			—			(9		)	(5		)
Curtailments and termination benefits	—			9			—			20			—			—
Net periodic benefit cost (benefit) 2	$	(37	)	$	(15	)	$	(9	)	$	11		$	35		$	38
Weighted-average assumptions used to determine net cost:
Discount rate used to measure service cost	3.7		%	4.2		%	2.3		%	2.3		%	3.5		%	3.9		%
Discount rate used to measure interest cost	3.2		%	3.3		%	2.2		%	2.3		%	3.2		%	3.3		%
Expected rate of return on plan assets	6.3		%	6.7		%	5.2		%	5.9		%	7.5		%	7.5		%
Rate of compensation increase	4.0		%	4.0		%	4.0		%	4.0		%	4.6		%	4.0		%

¹  Prior service cost (credit) for both pension and other postretirement benefits is 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) is amortized using the straight-line method over the remaining life expectancy of those participants.

²  The service cost component of net periodic pension and other postretirement benefits cost (benefit) is included in Operating costs in the Consolidated Statement of Results of Operations. All other components of net periodic pension and other postretirement benefits cost (benefit) are included in Other income (expense) 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)	March 31						March 31						March 31
	2018			2017			2018			2017			2018			2017
For the three months ended:
Components of net periodic benefit cost:
Service cost	$	32		$	29		$	22		$	23		$	21		$	19
Interest cost	133			131			25			25			31			33
Expected return on plan assets	(202		)	(184		)	(56		)	(57		)	(8		)	(9		)
Amortization of prior service cost (credit) 1	—			—			—			—			(9		)	(5		)
Curtailments and termination benefits	—			9			—			20			—			—
Net periodic benefit cost (benefit) 2	$	(37	)	$	(15	)	$	(9	)	$	11		$	35		$	38
Weighted-average assumptions used to determine net cost:
Discount rate used to measure service cost	3.7		%	4.2		%	2.3		%	2.3		%	3.5		%	3.9		%
Discount rate used to measure interest cost	3.2		%	3.3		%	2.2		%	2.3		%	3.2		%	3.3		%
Expected rate of return on plan assets	6.3		%	6.7		%	5.2		%	5.9		%	7.5		%	7.5		%
Rate of compensation increase	4.0		%	4.0		%	4.0		%	4.0		%	4.6		%	4.0		%

¹  Prior service cost (credit) for both pension and other postretirement benefits is 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) is amortized using the straight-line method over the remaining life expectancy of those participants.

²  The service cost component of net periodic pension and other postretirement benefits cost (benefit) is included in Operating costs in the Consolidated Statement of Results of Operations. All other components of net periodic pension and other postretirement benefits cost (benefit) are included in Other income (expense) 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 March 31
(Millions of dollars)	2018		2017
U.S. Plans	$	73	$	80
Non-U.S. Plans	22		16
	$	95	$	96