Employee Benefits (Tables)

6 Months Ended

Jun. 30, 2020

Retirement Benefits [Abstract]

Components of Net Periodic Benefit Cost

The components of net periodic benefit costs for 2020 and 2019 are as follows:

	Three Months Ended June 30					Six Months Ended June 30
	2020		2019			2020		2019
	(Millions of dollars)				(Millions of dollars)
Pension Benefits
United States
Service cost	$	125	$	102		$	249	$	203
Interest cost	88		99			176		198
Expected return on plan assets	(163)		(141)			(325)		(282)
Amortization of prior service costs (credits)	—		1			1		1
Amortization of actuarial losses (gains)	96		59			192		119
Settlement losses	60		60			120		120
Total United States	206		180			413		359
International
Service cost	32		36			64		71
Interest cost	44		53			87		104
Expected return on plan assets	(51)		(57)			(103)		(115)
Amortization of prior service costs (credits)	3		3			5		6
Amortization of actuarial losses (gains)	11		6			21		11
Settlement losses	—		—			—		1
Total International	39		41			74		78
Net Periodic Pension Benefit Costs	$	245	$	221		$	487	$	437
Other Benefits*
Service cost	$	10	$	9		$	19	$	18
Interest cost	17		24			35		48
Amortization of prior service costs (credits)	(8)		(7)			(14)		(14)
Amortization of actuarial losses (gains)	2		—			2		(1)
Net Periodic Other Benefit Costs	$	21	$	26		$	42	$	51

_ ___________________________________

* 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.