Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2020

Employee Benefits

Schedule of Plans' assets measured at estimated fair value

	December 31,
(Millions of dollars)	2020		Level 1		Level 2		Level 3
Assets:
Domestic equity securities	$	93	$	93	$	—	$	—
Foreign equity securities		64		64		—		—
Domestic fixed income mutual funds		32		32		—		—
Foreign fixed income mutual funds		15		15		—		—
Money market funds		2		2		—		—
Total assets	$	206	$	206	$	—	$	—

	December 31,
(Millions of dollars)	2019		Level 1		Level 2		Level 3
Assets:
Domestic equity securities	$	84	$	84	$	—	$	—
Foreign equity securities		57		57		—		—
Domestic fixed income mutual funds		30		30		—		—
Foreign fixed income mutual funds		12		12		—		—
Money market funds		2		2		—		—
Total assets	$	185	$	185	$	—	$	—

Schedule of assumptions used in determining pension information for plans

	Years ended December 31,
	2020				2019				2018
Weighted average assumptions
Discount rate used to determine obligations	0.70	-	2.60	%	2.15	-	3.50	%	3.50	-	4.50	%
Discount rate used to determine net periodic benefit cost	2.15	-	3.50	%	3.50	-	4.50	%	2.75	-	3.80	%
Expected return on plan assets			6.25	%			6.25	%			6.25	%
Long-term rate of increase in compensation levels			4.00	%			4.00	%			4.00	%

Schedule of the funded status

	December 31,
		2020	2019
(Millions of dollars)		Accumulated benefits exceed assets		Accumulated benefits exceed assets
Reconciliation of benefit obligation:
Benefit obligation at beginning of year	$	348	$	293
Service cost		9		8
Interest cost		11		12
Actuarial losses		58		50
Plan settlements		(38)		(9)
Benefits paid		(9)		(9)
Other		—		3
Benefit obligation at end of year	$	379	$	348
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year	$	185	$	156
Actual return on plan assets		27		35
Employer contributions		38		9
Plan settlements		(38)		(9)
Benefits paid		(6)		(6)
Fair value of plan assets at end of year	$	206	$	185
Funded status	$	(173)	$	(163)

Schedule of net periodic benefit cost of plans

	Years ended December 31,
(Millions of dollars)	2020		2019		2018
Components of net periodic benefit cost:
Service cost	$	9	$	8	$	10
Interest cost		11		12		11
Expected return on plan assets		(11)		(10)		(11)
Amortization		7		5		6
Settlement loss recognized		11		2		—
Net periodic benefit cost	$	27	$	17	$	16