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Postretirement Benefits (Tables)
 9 Months Ended
Sep. 30, 2017
Retirement Benefits [Abstract]  
Components of net periodic cost and weighted-average assumptions used to determine net cost
 
U.S. Pension 
Benefits
 
Non-U.S. Pension 
Benefits
 
Other
Postretirement 
Benefits
(Millions of dollars)

September 30
 
September 30
 
September 30
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
For the three months ended:
 
 
 
 
 
 
 
 
 
 
 
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
29

 
$
30

 
$
23

 
$
22

 
$
19

 
$
20

Interest cost
131

 
129

 
23

 
30

 
33

 
33

Expected return on plan assets
(184
)
 
(190
)
 
(55
)
 
(59
)
 
(10
)
 
(11
)
Amortization of prior service cost (credit) 1
—

 
—

 
—

 
—

 
(6
)
 
(15
)
Net periodic benefit cost (benefit)
(24
)
 
(31
)
 
(9
)
 
(7
)
 
36

 
27

Curtailments and termination benefits 2
—

 
—

 
—

 
1

 
—

 
—

Total cost (benefit) included in operating profit
$
(24
)
 
$
(31
)
 
$
(9
)
 
$
(6
)
 
$
36

 
$
27

 
 
 
 
 
 
 
 
 
 
 
 
For the nine months ended:
 
 
 
 
 
 
 
 
 
 
 
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
87

 
$
89

 
$
70

 
$
68

 
$
58

 
$
61

Interest cost
393

 
388

 
73

 
90

 
98

 
98

Expected return on plan assets
(551
)
 
(568
)
 
(168
)
 
(176
)
 
(28
)
 
(33
)
Amortization of prior service cost (credit) 1
—

 
—

 
(1
)
 
—

 
(17
)
 
(45
)
Net periodic benefit cost (benefit)
(71
)
 
(91
)
 
(26
)
 
(18
)
 
111

 
81

Curtailments and termination benefits 2
9

 
—

 
20

 
1

 
—

 
(2
)
Total cost (benefit) included in operating profit
$
(62
)
 
$
(91
)
 
$
(6
)
 
$
(17
)
 
$
111

 
$
79

 

 

 

 

 
 
 
 
Weighted-average assumptions used to determine net cost:
 
 
 
 
 
 
 
 
 
 
Discount rate used to measure service cost
4.2
%
 
4.5
%
 
2.3
%
 
2.9
%
 
3.9
%
 
4.4
%
Discount rate used to measure interest cost
3.3
%
 
3.4
%
 
2.3
%
 
2.8
%
 
3.3
%
 
3.3
%
Expected rate of return on plan assets
6.7
%
 
6.9
%
 
5.9
%
 
6.1
%
 
7.5
%
 
7.5
%
Rate of compensation increase
4.0
%
 
4.0
%
 
4.0
%
 
3.5
%
 
4.0
%
 
4.0
%
 
 
 
 
 
 
 
 
 
 
 
 

1 
Prior service cost (credit) for both pension and other postretirement benefits is generally amortized using the straight-line method over the average remaining service period of active employees expected to receive benefits from the plan. For pension plans in which all or almost all of the plan's participants are inactive and other postretirement benefit plans in which all or almost all of the plan's participants are fully eligible for benefits under the plan, prior service cost (credit) is amortized using the straight-line method over the remaining life expectancy of those participants.
2 
Curtailments and termination benefits were recognized in Other operating (income) expenses in the Consolidated Statement of Results of Operations.
 
 
 
 
 
Components of net periodic cost and weighted-average assumptions used to determine net cost
 
U.S. Pension 
Benefits
 
Non-U.S. Pension 
Benefits
 
Other
Postretirement 
Benefits
(Millions of dollars)

September 30
 
September 30
 
September 30
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
For the three months ended:
 
 
 
 
 
 
 
 
 
 
 
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
29

 
$
30

 
$
23

 
$
22

 
$
19

 
$
20

Interest cost
131

 
129

 
23

 
30

 
33

 
33

Expected return on plan assets
(184
)
 
(190
)
 
(55
)
 
(59
)
 
(10
)
 
(11
)
Amortization of prior service cost (credit) 1
—

 
—

 
—

 
—

 
(6
)
 
(15
)
Net periodic benefit cost (benefit)
(24
)
 
(31
)
 
(9
)
 
(7
)
 
36

 
27

Curtailments and termination benefits 2
—

 
—

 
—

 
1

 
—

 
—

Total cost (benefit) included in operating profit
$
(24
)
 
$
(31
)
 
$
(9
)
 
$
(6
)
 
$
36

 
$
27

 
 
 
 
 
 
 
 
 
 
 
 
For the nine months ended:
 
 
 
 
 
 
 
 
 
 
 
Components of net periodic benefit cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
87

 
$
89

 
$
70

 
$
68

 
$
58

 
$
61

Interest cost
393

 
388

 
73

 
90

 
98

 
98

Expected return on plan assets
(551
)
 
(568
)
 
(168
)
 
(176
)
 
(28
)
 
(33
)
Amortization of prior service cost (credit) 1
—

 
—

 
(1
)
 
—

 
(17
)
 
(45
)
Net periodic benefit cost (benefit)
(71
)
 
(91
)
 
(26
)
 
(18
)
 
111

 
81

Curtailments and termination benefits 2
9

 
—

 
20

 
1

 
—

 
(2
)
Total cost (benefit) included in operating profit
$
(62
)
 
$
(91
)
 
$
(6
)
 
$
(17
)
 
$
111

 
$
79

 

 

 

 

 
 
 
 
Weighted-average assumptions used to determine net cost:
 
 
 
 
 
 
 
 
 
 
Discount rate used to measure service cost
4.2
%
 
4.5
%
 
2.3
%
 
2.9
%
 
3.9
%
 
4.4
%
Discount rate used to measure interest cost
3.3
%
 
3.4
%
 
2.3
%
 
2.8
%
 
3.3
%
 
3.3
%
Expected rate of return on plan assets
6.7
%
 
6.9
%
 
5.9
%
 
6.1
%
 
7.5
%
 
7.5
%
Rate of compensation increase
4.0
%
 
4.0
%
 
4.0
%
 
3.5
%
 
4.0
%
 
4.0
%
 
 
 
 
 
 
 
 
 
 
 
 

1 
Prior service cost (credit) for both pension and other postretirement benefits is generally amortized using the straight-line method over the average remaining service period of active employees expected to receive benefits from the plan. For pension plans in which all or almost all of the plan's participants are inactive and other postretirement benefit plans in which all or almost all of the plan's participants are fully eligible for benefits under the plan, prior service cost (credit) is amortized using the straight-line method over the remaining life expectancy of those participants.
2 
Curtailments and termination benefits were recognized in Other operating (income) expenses in the Consolidated Statement of Results of Operations.
 
 
 
 
 
Company costs related to U.S. and non-U.S. defined contribution plans
Total company costs related to our defined contribution plans were as follows:
 
 
 
 
 
 
 
 
 
 
Three Months Ended
September 30
 
Nine Months Ended
September 30
(Millions of dollars)
2017
 
2016
 
2017
 
2016
U.S. Plans
$
97

 
$
83

 
$
267

 
$
235

Non-U.S. Plans
19

 
16

 
54

 
51

 
$
116

 
$
99

 
$
321

 
$
286