Occidental Petroleum 2015 Annual Report Download - page 72
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COMPONENTS OF NET PERIODIC BENEFIT COST
Pension Benefits
Postretirement Benefits
For the years ended December 31, (in millions)
2014
2013
2014
2013
Service cost — benefits earned during the period
$ 11
$ 13
$ 24
$ 29
Interest cost on projected benefit obligation
23
24
44
43
Expected return on plan assets
(33)
(31)
—
—
Recognized actuarial loss
6
19
20
38
Other costs and adjustments
(8)
(13)
1
1
Net periodic benefit cost
$ (1) $ 12
$ 89 $ 111
ADDITIONAL INFORMATION
Pension Benefits
Postretirement Benefits
For the years ended December 31,
2014
2014
Discount rate
3.81%
3.99%
Rate of compensation increase
—
—
Discount rate
4.45%
4.75%
Assumed long term rate of return on assets
6.50%
—
Rate of compensation increase
4.00%
—
(a) Plans requiring a salary increase assumption were separated with California Resources in 2014.
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