Health Care, Pension and Other Benefits

6 Months Ended

Jun. 30, 2015

Compensation and Retirement Disclosure [Abstract]

HEALTH CARE, PENSION AND OTHER BENEFITS

HEALTH CARE, PENSION AND OTHER BENEFITS

Shown below are the components of the Company’s net periodic benefit cost (credit) for domestic defined benefit pension plans, foreign defined benefit pension plans and postretirement benefits other than pensions:

(Thousands of dollars)	Domestic Defined Benefit Pension Plans						Foreign Defined Benefit Pension Plans						Postretirement Benefits Other than Pensions
	2015			2014			2015			2014			2015			2014
Three Months Ended June 30:
Net periodic benefit cost (credit):
Service cost	$	5,755		$	5,637		$	1,325		$	1,548		$	621		$	608
Interest cost	6,237			6,525			2,271			2,694			2,796			3,196
Expected return on assets	(13,024		)	(12,665		)	(2,430		)	(2,740		)
Amortization of:
Prior service cost (credit)	328			459									(1,132		)	(125		)
Actuarial loss	843						484			355			253
Net periodic benefit cost (credit)	$	139		$	(44	)	$	1,650		$	1,857		$	2,538		$	3,679
Six Months Ended June 30:
Net periodic benefit cost (credit):
Service cost	$	11,509		$	11,274		$	2,650		$	3,095		$	1,242		$	1,217
Interest cost	12,474			13,051			4,542			5,388			5,591			6,391
Expected return on assets	(26,048		)	(25,331		)	(4,861		)	(5,480		)
Amortization of:
Prior service cost (credit)	655			918									(2,264		)	(251		)
Actuarial loss	1,686						969			711			506
Net periodic benefit cost (credit)	$	276		$	(88	)	$	3,300		$	3,714		$	5,075		$	7,357

For further details on the Company’s health care, pension and other benefits, see Note 6 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.