Retirement and Post-retirement Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2017

Retirement and Post-retirement Benefit Plans

Components of the net periodic benefit costs

The following tables set forth the components of the net periodic benefit costs for Occidental’s defined benefit pension and post-retirement benefit plans for the three and six months ended June 30, 2017 and 2016 (in millions):

Three months ended June 30	2017				2016
Net Periodic Benefit Costs	Pension Benefit		Post- retirement Benefit		Pension Benefit		Post- retirement Benefit
Service cost	$	2	$	5	$	2	$	5
Interest cost	4		10		4		10
Expected return on plan assets	(6)		—		(6)		—
Recognized actuarial loss	2		4		3		6
Settlement loss	—		—		2		—
Total	$	2	$	19	$	5	$	21

Six months ended June 30	2017				2016
Net Periodic Benefit Costs	Pension Benefit		Post- retirement Benefit		Pension Benefit		Post- retirement Benefit
Service cost	$	4	$	10	$	4	$	10
Interest cost	8		20		8		20
Expected return on plan assets	(12)		—		(12)		—
Recognized actuarial loss	4		8		6		11
Settlement loss	—		—		2		—
Total	$	4	$	38	$	8	$	41