Employee Benefits (Tables)

3 Months Ended

Mar. 31, 2024

Retirement Benefits [Abstract]

Components of Net Periodic Benefit Cost

The components of net periodic benefit costs for 2024 and 2023 are as follows:

	Three Months Ended March 31
	2024		2023
	(Millions of dollars)
Pension Benefits
United States
Service cost	$	89	$	86
Interest cost	116		112
Expected return on plan assets	(149)		(140)
Amortization of prior service costs (credits)	1		1
Amortization of actuarial losses (gains)	61		51
Settlement losses	—		—
Total United States	118		110
International
Service cost	14		15
Interest cost	47		47
Expected return on plan assets	(50)		(51)
Amortization of prior service costs (credits)	3		2
Amortization of actuarial losses (gains)	5		2
Settlement losses	—		—
Acquisitions / (divestitures)	—		(2)
Total International	19		13
Net Periodic Pension Benefit Costs	$	137	$	123
Other Benefits*
Service cost	$	8	$	8
Interest cost	25		24
Amortization of prior service costs (credits)	(6)		(6)
Amortization of actuarial losses (gains)	(4)		(5)
Net Periodic Other Benefit Costs	$	23	$	21

* 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.