Health Care, Pension and Other Benefits

9 Months Ended

Sep. 30, 2014

Compensation and Retirement Disclosure [Abstract]

HEALTH CARE, PENSION AND OTHER BENEFITS

HEALTH CARE, PENSION AND OTHER BENEFITS

Shown below are the components of the Company’s net periodic benefit cost (credit) for domestic defined benefit pension plans, foreign defined benefit pension plans and postretirement benefits other than pensions:

(Thousands of dollars)	Domestic Defined Benefit Pension Plans						Foreign Defined Benefit Pension Plans						Postretirement Benefits Other than Pensions
	2014			2013			2014			2013			2014			2013
Three Months Ended September 30:
Net periodic benefit cost (credit):
Service cost	$	5,636		$	5,396		$	1,547		$	1,160		$	609		$	765
Interest cost	6,526			4,267			2,695			1,902			3,195			3,046
Expected return on assets	(12,666		)	(10,342		)	(2,739		)	(1,783		)
Amortization of:
Prior service cost (credit)	459			456									(126		)	(82		)
Actuarial loss				3,489			356			443						983
Net periodic benefit cost (credit)	$	(45	)	$	3,266		$	1,859		$	1,722		$	3,678		$	4,712
Nine Months Ended September 30:
Net periodic benefit cost (credit):
Service cost	$	16,910		$	16,189		$	4,642		$	3,480		$	1,826		$	2,296
Interest cost	19,577			12,801			8,083			5,707			9,586			9,137
Expected return on assets	(37,997		)	(31,026		)	(8,219		)	(5,347		)
Amortization of:
Prior service cost (credit)	1,377			1,367									(377		)	(246		)
Actuarial loss				10,465			1,067			1,327						2,950
Net periodic benefit cost (credit)	$	(133	)	$	9,796		$	5,573		$	5,167		$	11,035		$	14,137

For further details on the Company’s health care, pension and other benefits, see Note 6 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.