v3.26.3
Employee Benefit Plans (Tables)
9 Months Ended
Sep. 30, 2026
Retirement Benefits [Abstract]  
Schedule of Components of Net Periodic Benefit Cost
Millions of Dollars
Pension Benefits
Other Benefits
2026202520262025
U.S.
Int'l.
U.S.
Int'l.
Components of net periodic benefit cost
Three months ended September 30
Service cost
$10 8 15 7 — — 
Interest cost
21 34 24 32 2 2 
Expected return on plan assets
(18)(53)(20)(46)
Amortization of prior service cost (credit)
— 1 — 1 — (7)
Recognized net actuarial loss (gain)
2 9 3 12 — — 
Settlements14 — — — — — 
Net periodic benefit cost
$29 (1)22 6 2 (5)
Nine Months Ended September 30
Service cost$32 24 44 23 1 1 
Interest cost
61 103 70 94 5 6 
Expected return on plan assets
(56)(159)(58)(135)
Amortization of prior service cost (credit)
— 3 — 2 (2)(19)
Recognized net actuarial loss (gain)
6 27 8 35 — — 
Settlements
28 — — 1 — — 
Net periodic benefit cost$71 (2)64 20 4 (12)
Summary of Severance Accruals
The following table summarizes our severance accrual activity for the nine-month period ended September 30, 2026:

Millions of Dollars
Balance at December 31, 2025
$378 
Accruals46
Benefit payments(296)
Balance at September 30, 2026*
$128 
*Of the balance at September 30, 2026, $71 million is classified as short-term.