Retirement and Postretirement Benefit Plans

6 Months Ended

Jun. 30, 2015

Retirement and Postretirement Benefit Plans

Retirement and Postretirement Benefit Plans

8. Retirement and Post-retirement Benefit Plans

The following tables set forth the components of the net periodic benefit costs for Occidental’s defined benefit pension and post-retirement benefit plans for the three and six months ended June 30, 2015 and 2014 (in millions):

Three months ended June 30	2015				2014
Net Periodic Benefit Costs	Pension Benefit		Post- retirement Benefit		Pension Benefit		Post- retirement Benefit
Service cost	$	2	$	7	$	3	$	6
Interest cost	5		10		6		12
Expected return on plan assets	(7)		—		(9)		—
Recognized actuarial loss	2		7		2		6
Total	$	2	$	24	$	2	$	24

Six months ended June 30	2015				2014
Net Periodic Benefit Costs	Pension Benefit		Post- retirement Benefit		Pension Benefit		Post- retirement Benefit
Service cost	$	4	$	14	$	6	$	12
Interest cost	10		20		12		24
Expected return on plan assets	(14)		—		(17)		—
Recognized actuarial loss	4		14		3		12
Total	$	4	$	48	$	4	$	48

Occidental contributed approximately zero and $2 million to its defined benefit pension plans in the three-months ended June 30, 2015 and 2014, respectively. Occidental contributed approximately $5 million and $3 million in the six-months ended June 30, 2015 and 2014, respectively.