Retirement and Postretirement Benefit Plans

6 Months Ended

Jun. 30, 2014

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, 2014 and 2013 (in millions):

Three months ended June 30	2014					2013
Net Periodic Benefit Costs	Pension Benefit			Postretirement Benefit		Pension Benefit			Postretirement Benefit
Service cost	$	3		$	6	$	3		$	7
Interest cost		6			12		7			10
Expected return on plan assets		(9	)		—		(8	)		—
Recognized actuarial loss		2			6		4			10
Total	$	2		$	24	$	6		$	27

Six months ended June 30	2014					2013
Net Periodic Benefit Costs	Pension Benefit			Postretirement Benefit		Pension Benefit			Postretirement Benefit
Service cost	$	6		$	12	$	7		$	14
Interest cost		12			24		13			21
Expected return on plan assets		(17	)		—		(16	)		—
Recognized actuarial loss		3			12		8			20
Total	$	4		$	48	$	12		$	55

Occidental contributed approximately $2 million and $1 million in the three-month periods ended June 30, 2014 and 2013, respectively, and approximately $3 million and $2 million in the six-month periods ended June 30, 2014 and 2013, respectively, to its defined benefit pension plans.