Retirement and Postretirement Benefit Plans

9 Months Ended

Sep. 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 nine months ended September 30, 2014 and 2013 (in millions):

Three months ended September 30	2014					2013
Net Periodic Benefit Costs	Pension Benefit			Postretirement Benefit		Pension Benefit			Postretirement Benefit
Service cost	$	3		$	7	$	3		$	8
Interest cost	6			10		6			11
Expected return on plan assets	(8		)	—		(7		)	—
Recognized actuarial loss	1			4		10			9
Total	$	2		$	21	$	12		$	28

Nine months ended September 30	2014					2013
Net Periodic Benefit Costs	Pension Benefit			Postretirement Benefit		Pension Benefit			Postretirement Benefit
Service cost	$	9		$	19	$	10		$	22
Interest cost	18			34		19			32
Expected return on plan assets	(25		)	—		(23		)	—
Recognized actuarial loss	4			16		18			29
Total	$	6		$	69	$	24		$	83

Occidental contributed $1 million in each of the three month periods ended September 30, 2014 and 2013, and $4 million and $3 million in the nine month periods ended September 30, 2014 and 2013, respectively, to its defined benefit pension plans.