Retirement and Postretirement Benefit Plans

6 Months Ended

Jun. 30, 2013

Retirement and Postretirement Benefit Plans

Retirement and Postretirement Benefit Plans

8. Retirement and Postretirement Benefit Plans

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 six months ended June 30, 2013 and 2012 (in millions):

Three months ended June 30	2013					2012
Net Periodic Benefit Costs	Pension Benefit			Postretirement Benefit		Pension Benefit			Postretirement Benefit
Service cost	$	3		$	7	$	3		$	6
Interest cost		7			10		7			11
Expected return on plan assets		(8	)		—		(8	)		—
Recognized actuarial loss		4			10		5			9
Total	$	6		$	27	$	7		$	26

Six months ended June 30	2013					2012
Net Periodic Benefit Costs	Pension Benefit			Postretirement Benefit		Pension Benefit			Postretirement Benefit
Service cost	$	7		$	14	$	6		$	13
Interest cost		13			21		14			22
Expected return on plan assets		(16	)		—		(16	)		—
Recognized actuarial loss		8			20		10			17
Total	$	12		$	55	$	14		$	52

Occidental contributed approximately $1 million and $2 million in the three-month periods ended June 30, 2013 and 2012, and approximately $2 million and $3 million in the six-month periods ended June 30, 2013 and 2012, respectively, to its defined benefit pension plans.