PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS The following table summarizes the components of net periodic pension cost and the cost of other postretirement benefits for the periods presented: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | | United States Pension Benefits | | Foreign Pension Benefits | | Other Postretirement Benefits | Millions of dollars | | 2025 | | 2024 | | 2025 | | 2024 | | 2025 | | 2024 | Service cost | | $ | — | | | $ | 1 | | | $ | — | | | $ | 1 | | | $ | — | | | $ | — | | Interest cost | | 24 | | | 25 | | | 1 | | | 1 | | | 2 | | | 2 | | Expected return on plan assets | | (30) | | | (37) | | | — | | | — | | | — | | | — | | Amortization: | | | | | | | | | | | | | Actuarial loss | | 10 | | | 10 | | | — | | | — | | | — | | | — | | Prior service credit | | — | | | — | | | — | | | — | | | (1) | | | — | | Settlement and curtailment (gain) loss | | — | | | — | | | — | | | — | | | — | | | — | | Net periodic benefit cost (credit) | | $ | 4 | | | $ | (1) | | | $ | 1 | | | $ | 2 | | | $ | 1 | | | $ | 2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, | | | United States Pension Benefits | | Foreign Pension Benefits | | Other Postretirement Benefits | Millions of dollars | | 2025 | | 2024 | | 2025 | | 2024 | | 2025 | | 2024 | Service cost | | $ | 1 | | | $ | 1 | | | $ | 1 | | | $ | 1 | | | $ | — | | | $ | — | | Interest cost | | 48 | | | 51 | | | 2 | | | 8 | | | 3 | | | 3 | | Expected return on plan assets | | (59) | | | (73) | | | (1) | | | (6) | | | — | | | — | | Amortization: | | | | | | | | | | | | | Actuarial loss | | 20 | | | 20 | | | — | | | 1 | | | — | | | — | | Prior service credit | | — | | | — | | | — | | | — | | | (1) | | | — | | Settlement and curtailment (gain) loss | | — | | | — | | | (2) | | | — | | | — | | | — | | Net periodic benefit cost (credit) | | $ | 10 | | | $ | (1) | | | $ | — | | | $ | 4 | | | $ | 2 | | | $ | 3 | |
The following table summarizes the net periodic cost recognized in operating profit and interest and sundry (income) expense for the periods presented: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | | United States Pension Benefits | | Foreign Pension Benefits | | Other Postretirement Benefits | Millions of dollars | | 2025 | | 2024 | | 2025 | | 2024 | | 2025 | | 2024 | Operating (profit) loss | | $ | — | | | $ | 1 | | | $ | — | | | $ | 1 | | | $ | — | | | $ | — | | Interest and sundry (income) expense | | 4 | | | (2) | | | 1 | | | 1 | | | 1 | | | 2 | | Net periodic benefit cost | | $ | 4 | | | $ | (1) | | | $ | 1 | | | $ | 2 | | | $ | 1 | | | $ | 2 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, | | | United States Pension Benefits | | Foreign Pension Benefits | | Other Postretirement Benefits | Millions of dollars | | 2025 | | 2024 | | 2025 | | 2024 | | 2025 | | 2024 | Operating (profit) loss | | $ | 1 | | | $ | 1 | | | $ | 1 | | | $ | 1 | | | $ | — | | | $ | — | | Interest and sundry (income) expense | | 9 | | | (2) | | | (1) | | | 3 | | | 2 | | | 3 | | Net periodic benefit cost (credit) | | $ | 10 | | | $ | (1) | | | $ | — | | | $ | 4 | | | $ | 2 | | | $ | 3 | |
401(k) Defined Contribution Plan Beginning in March 2024, the Company matching contributions for our 401(k) defined contribution plan, equal to up to 7% of participants' eligible compensation, covering substantially all U.S. employees, are contributed in company stock.
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