Retirement and Post-retirement Benefit Plans (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2017 and 2016 (in millions):

Three months ended September 30	2017					2016
Net Periodic Benefit Costs	Pension Benefit			Post- retirement Benefit		Pension Benefit			Post- retirement Benefit
Service cost	$	2		$	5	$	2		$	4
Interest cost	4			9		4			9
Expected return on plan assets	(6		)	—		(6		)	—
Recognized actuarial loss	2			3		3			3
Settlement loss	—			—		—			—
Total	$	2		$	17	$	3		$	16

Nine months ended September 30	2017					2016
Net Periodic Benefit Costs	Pension Benefit			Post- retirement Benefit		Pension Benefit			Post- retirement Benefit
Service cost	$	6		$	15	$	6		$	14
Interest cost	12			29		12			29
Expected return on plan assets	(18		)	—		(18		)	—
Recognized actuarial loss	6			11		9			14
Settlement loss	—			—		2			—
Total	$	6		$	55	$	11		$	57