Retirement and Postretirement Benefit Plans

9 Months Ended

Sep. 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 nine months ended September 30, 2015 and 2014 (in millions):

Three months ended September 30	2015					2014
Net Periodic Benefit Costs	Pension Benefit			Post- retirement Benefit		Pension Benefit			Post- retirement Benefit
Service cost	$	2		$	7	$	3		$	7
Interest cost	5			10		6			10
Expected return on plan assets	(7		)	—		(8		)	—
Recognized actuarial loss	3			6		1			4
Total	$	3		$	23	$	2		$	21

Nine months ended September 30	2015					2014
Net Periodic Benefit Costs	Pension Benefit			Post- retirement Benefit		Pension Benefit			Post- retirement Benefit
Service cost	$	6		$	21	$	9		$	19
Interest cost	15			30		18			34
Expected return on plan assets	(21		)	—		(25		)	—
Recognized actuarial loss	7			20		4			16
Total	$	7		$	71	$	6		$	69

Occidental contributed approximately $2 million and $1 million to its defined benefit pension plans in the three-months ended September 30, 2015 and 2014, respectively. Occidental contributed approximately $7 million and $4 million in the nine months ended September 30, 2015 and 2014, respectively.