Retirement and Post-retirement Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2016

Retirement and Post-retirement Benefit Plans

Components of the net periodic benefit costs

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, 2016 and 2015 (in millions):

Three months ended September 30	2016				2015
Net Periodic Benefit Costs	Pension Benefit		Post- retirement Benefit		Pension Benefit		Post- retirement Benefit
Service cost	$	2	$	4	$	2	$	7
Interest cost	4		9		5		10
Expected return on plan assets	(6)		—		(7)		—
Recognized actuarial loss	3		3		3		6
Total	$	3	$	16	$	3	$	23

Nine months ended September 30	2016				2015
Net Periodic Benefit Costs	Pension Benefit		Post- retirement Benefit		Pension Benefit		Post- retirement Benefit
Service cost	$	6	$	14	$	6	$	21
Interest cost	12		29		15		30
Expected return on plan assets	(18)		—		(21)		—
Recognized actuarial loss	9		14		7		20
Settlement loss		2	—		—		—
Total	$	11	$	57	$	7	$	71