Retirement Plans and Postretirement Benefits

9 Months Ended

Sep. 30, 2011

Retirement Plans and Postretirement Benefits

Retirement Plans and Postretirement Benefits

9.       Retirement Plans and Postretirement Benefits

The following table sets forth the components of the net periodic benefit costs for Occidental’s defined benefit pension and postretirement benefit plans for the three and nine months ended September 30, 2011 and 2010 (in millions):

Three months ended September 30	2011					2010
Net Periodic Benefit Costs	Pension Benefit			Postretirement Benefit		Pension Benefit			Postretirement Benefit
Service cost	$	5		$	6	$	4		$	5
Interest cost	7			11		8			11
Expected return on plan assets	(9		)	—		(8		)	—
Amortization of prior service cost	1			—		—			—
Recognized actuarial loss	4			8		3			6
Total	$	8		$	25	$	7		$	22

Nine months ended September 30	2011					2010
Net Periodic Benefit Costs	Pension Benefit			Postretirement Benefit		Pension Benefit			Postretirement Benefit
Service cost	$	15		$	17	$	13		$	14
Interest cost	22			34		23			33
Expected return on plan assets	(25		)	—		(24		)	—
Amortization of prior service cost	1			—		1			—
Recognized actuarial loss	10			23		9			19
Total	$	23		$	74	$	22		$	66

Occidental contributed $12 million and $3 million in the three-month periods ended September 30, 2011 and 2010, respectively, and $16 million and $8 million in the nine-month periods ended September 30, 2011 and 2010, respectively, to its defined benefit pension plans.