Retirement and Postretirement Benefit Plans

9 Months Ended

Sep. 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 nine months ended September 30, 2013 and 2012 (in millions):

Three months ended September 30	2013					2012
Net Periodic Benefit Costs	Pension Benefit			Postretirement Benefit		Pension Benefit			Postretirement Benefit
Service cost	$	3		$	8	$	3		$	6
Interest cost		6			11		6			10
Expected return on plan assets		(7	)		—		(7	)		—
Amortization of prior service cost		—			—		1			—
Recognized actuarial loss		10			9		4			10
Total	$	12		$	28	$	7		$	26

Nine months ended September 30	2013					2012
Net Periodic Benefit Costs	Pension Benefit			Postretirement Benefit		Pension Benefit			Postretirement Benefit
Service cost	$	10		$	22	$	9		$	19
Interest cost		19			32		20			32
Expected return on plan assets		(23	)		—		(23	)		—
Amortization of prior service cost		—			—		1			—
Recognized actuarial loss		18			29		14			27
Total	$	24		$	83	$	21		$	78

Occidental contributed approximately $1 million in each of the three-month periods ended September 30, 2013 and 2012, and approximately $3 million and $4 million in the nine-month periods ended September 30, 2013 and 2012, respectively, to its defined benefit pension plans.