Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2011

Retirement Plans [Abstract]

Amounts recognized on the Consolidated Balance Sheets, and projected and accumulated benefit obligations in excess of plan assets

Millions of dollars	2011		2010
Amounts recognized on the Consolidated Balance Sheets
Accrued employee compensation and benefits	$	10	$	15
Employee compensation and benefits		213		202
Pension plans in which projected benefit
obligation exceeded plan assets at December 31
Projected benefit obligation	$	928	$	902
Fair value of plan assets		705		685
Pension plans in which accumulated benefit
obligation exceeded plan assets at December 31
Accumulated benefit obligation	$	784	$	764
Fair value of plan assets		621		614

Fair value of pension plan assets by category

	Quoted Prices		Significant
	in Active		Observable		Significant
	Markets for		Inputs for		Unobservable
Millions of dollars	Identical Assets		Similar Assets		Inputs		Total
Common/collective trust funds (a)
Equity funds	$	-	$	241	$	-	$	241
Bond funds		-		110		-		110
Balanced funds		-		12		-		12
Corporate bonds		-		89		-		89
United States equity securities		67		-		-		67
Non-United States equity securities		64		-		-		64
Other assets		15		16		91		122
Fair value of plan assets at December 31, 2011	$	146	$	468	$	91	$	705
Common/collective trust funds (a)
Equity funds	$	-	$	155	$	-	$	155
Bond funds		-		97		-		97
Balanced funds		-		14		-		14
Non-United States equity securities		133		-		-		133
Corporate bonds		-		84		-		84
United States equity securities		41		-		-		41
Other assets		82		6		79		167
Fair value of plan assets at December 31, 2010	$	256	$	356	$	79	$	691

(a)     Strategies are generally to invest in equity or debt securities, or a combination thereof, that match or outperform certain predefined indices.

Weighted-average assumptions for principal retirement and other postretirement benefit plans

Certain weighted-average actuarial assumptions used to determine benefit obligations of our international pension plans at December 31 were as follows:

	2011			2010
Discount rate		5.2	%		5.7	%
Rate of compensation increase		5.4	%		5.2	%

Certain weighted-average actuarial assumptions used to determine net periodic benefit cost of our international pension plans for the years ended December 31 were as follows:

	2011	2010	2009
Discount rate	7.1%	7.9%	7.4%
Expected long-term return on plan assets	5.7%	5.6%	5.6%
Rate of compensation increase	6.2%	6.4%	5.7%