Retirement Plans and Postretirement Benefits

3 Months Ended

Mar. 31, 2012

Retirement Plans and Postretirement Benefits

Retirement Plans and Postretirement Benefits

8.             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 months ended March 31, 2012 and 2011 (in millions):

	2012							2011
Net Periodic Benefit Costs	Pension Plans				Postretirement Plans			Pension Plans				Postretirement Plans
Service cost		$	3			$	7		$	5			$	6
Interest cost		7				11			7				11
Expected return on plan assets		(8		)		—			(8		)		—
Recognized actuarial loss		5				8			3				8
Total		$	7			$	26		$	7			$	25

Occidental contributed $1 million and $2 million in the three-month periods ended March 31, 2012 and 2011, respectively, to its defined benefit pension plans.