Employee Benefits (Tables)

6 Months Ended

Jun. 30, 2021

Retirement Benefits [Abstract]

Components of Net Periodic Benefit Cost

The components of net periodic benefit costs for 2021 and 2020 are as follows:

	Three Months Ended June 30					Six Months Ended June 30
	2021		2020			2021		2020
	(Millions of dollars)				(Millions of dollars)
Pension Benefits
United States
Service cost	$	108	$	125		$	225	$	249
Interest cost	64		88			119		176
Expected return on plan assets	(145)		(163)			(294)		(325)
Amortization of prior service costs (credits)	—		—			1		1
Amortization of actuarial losses (gains)	73		96			177		192
Settlement losses	151		60			468		120
Total United States	251		206			696		413
International
Service cost	37		32			71		64
Interest cost	36		44			69		87
Expected return on plan assets	(43)		(51)			(89)		(103)
Amortization of prior service costs (credits)	2		3			4		5
Amortization of actuarial losses (gains)	14		11			24		21
Settlement losses	—		—			—		—
Total International	46		39			79		74
Net Periodic Pension Benefit Costs	$	297	$	245		$	775	$	487
Other Benefits*
Service cost	$	10	$	10		$	21	$	19
Interest cost	13		17			26		35
Amortization of prior service costs (credits)	(6)		(8)			(13)		(14)
Amortization of actuarial losses (gains)	4		2			8		2
Net Periodic Other Benefit Costs	$	21	$	21		$	42	$	42

* 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.