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Employee Benefits
 6 Months Ended
Jun. 30, 2019
Retirement Benefits [Abstract]  
Employee Benefits Employee Benefits
Chevron has defined benefit pension plans for many employees. The company typically prefunds defined benefit plans as required by local regulations or in certain situations where prefunding provides economic advantages. In the United States, all qualified plans are subject to the Employee Retirement Income Security Act minimum funding standard. The company does not typically fund U.S. nonqualified pension plans that are not subject to funding requirements under laws and regulations because contributions to these pension plans may be less economic and investment returns may be less attractive than the company’s other investment alternatives.
The company also sponsors other postretirement employee benefit (OPEB) plans that provide medical and dental benefits, as well as life insurance for some active and qualifying retired employees. The plans are unfunded, and
the company and the retirees share the costs. For the company’s main U.S. medical plan, the increase to the pre-Medicare company contribution for retiree medical coverage is limited to no more than 4 percent each year. Certain life insurance benefits are paid by the company.
The components of net periodic benefit costs for 2019 and 2018 are as follows:
 
Three Months Ended
June 30
 
Six Months Ended
June 30
 
2019
 
2018
 
2019
 
2018
 
(Millions of dollars)
Pension Benefits
 
 
 
 
 
 
 
United States
 
 
 
 
 
 
 
Service cost
$
102

 
$
120

 
$
203

 
$
240

Interest cost
99

 
93

 
198

 
185

Expected return on plan assets
(141
)
 
(159
)
 
(282
)
 
(318
)
Amortization of prior service costs (credits)
1

 
—

 
1

 
1

Amortization of actuarial losses (gains)
59

 
76

 
119

 
152

Settlement losses
60

 
66

 
120

 
132

Total United States
180

 
196

 
359

 
392

International
 
 
 
 
 
 
 
Service cost
36

 
33

 
71

 
73

Interest cost
53

 
60

 
104

 
106

Expected return on plan assets
(57
)
 
(65
)
 
(115
)
 
(131
)
Amortization of prior service costs (credits)
3

 
4

 
6

 
6

Amortization of actuarial losses (gains)
6

 
6

 
11

 
17

Settlement losses
—

 
—

 
1

 
—

Total International
41

 
38

 
78

 
71

Net Periodic Pension Benefit Costs
$
221

 
$
234

 
$
437

 
$
463

Other Benefits*
 
 
 
 
 
 
 
Service cost
$
9

 
$
8

 
$
18

 
$
21

Interest cost
24

 
27

 
48

 
48

Amortization of prior service costs (credits)
(7
)
 
(7
)
 
(14
)
 
(14
)
Amortization of actuarial losses (gains)
—

 
3

 
(1
)
 
7

Net Periodic Other Benefit Costs
$
26

 
$
31

 
$
51

 
$
62

_ ___________________________________
* Includes costs for U.S. and international OPEB plans. Obligations for plans outside the United States are not significant relative to the company’s total OPEB obligation.
Through June 30, 2019, a total of $728 million was contributed to employee pension plans (including $662 million to the U.S. plans). Total contributions for the full year are currently estimated to be $1.3 billion ($1.1 billion for the U.S. plans and $200 million for the international plans). Actual contribution amounts are dependent upon plan investment returns, changes in pension obligations, regulatory requirements and other economic factors. Additional funding may ultimately be required if investment returns are insufficient to offset increases in plan obligations.
During the first six months of 2019, the company contributed $88 million to its OPEB plans. The company anticipates contributing approximately $87 million during the remainder of 2019.