Employee Benefits (Tables)

9 Months Ended

Sep. 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 September 30					Nine Months Ended September 30
	2020		2019			2020		2019
	(Millions of dollars)				(Millions of dollars)
Pension Benefits
United States
Service cost	$	124	$	101		$	373	$	304
Interest cost	89		100			265		298
Expected return on plan assets	(163)		(141)			(488)		(423)
Amortization of prior service costs (credits)	—		—			1		1
Amortization of actuarial losses (gains)	96		60			288		179
Settlement losses	184		87			304		207
Total United States	330		207			743		566
International
Service cost	33		34			97		105
Interest cost	44		49			131		153
Expected return on plan assets	(52)		(56)			(155)		(171)
Amortization of prior service costs (credits)	2		3			7		9
Amortization of actuarial losses (gains)	12		4			33		15
Settlement losses	—		—			—		1
Total International	39		34			113		112
Net Periodic Pension Benefit Costs	$	369	$	241		$	856	$	678
Other Benefits*
Service cost	$	9	$	9		$	28	$	27
Interest cost	18		24			53		72
Amortization of prior service costs (credits)	(7)		(7)			(21)		(21)
Amortization of actuarial losses (gains)	1		(1)			3		(2)
Net Periodic Other Benefit Costs	$	21	$	25		$	63	$	76

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* 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.