v3.26.1
Postretirement Benefits (Tables)
 6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Schedule of net benefit costs
U.S. Pension
Benefits
Non-U.S. Pension
Benefits
Other
Postretirement
Benefits
June 30,June 30,June 30,
(Millions of dollars)202620252026202520262025
For the three months ended:
Components of net periodic benefit cost:
Service cost$— $— $12 $12 $14 $16 
Interest cost136 153 30 27 26 30 
Expected return on plan assets (176)(180)(44)(40)(3)(2)
Amortization of prior service cost (credit)— — 1 — — (1)
Net periodic benefit cost (benefit) 1
$(40)$(27)$(1)$(1)$37 $43 
For the six months ended:
Components of net periodic benefit cost:
Service cost$— $— $24 $23 $28 $32 
Interest cost272 306 60 55 53 61 
Expected return on plan assets (352)(360)(88)(80)(6)(4)
Amortization of prior service cost (credit)— — 1 — — (2)
Net periodic benefit cost (benefit) 1
$(80)$(54)$(3)$(2)$75 $87 
1 The service cost component is included in Operating costs. All other components are included in Other income (expense).
Summary of company costs related to U.S. and non-U.S. defined contribution plans
Total company costs related to our defined contribution plans, which are included in Operating costs in the Consolidated Statement of Results of Operations, were as follows:
 
Three Months Ended June 30,Six Months Ended June 30,
(Millions of dollars)2026202520262025
U.S. Plans 1
$299 $190 $489 $344 
Non-U.S. Plans38 35 75 68 
$337 $225 $564 $412 
1 Includes costs related to our non-qualified deferred compensation plans. We utilize total return swaps to economically hedge this exposure to offset the related costs. See Note 5 for additional information.