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Retirement Programs | 9 Months Ended
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Sep. 30, 2020
Retirement Benefits, Description [Abstract] |
Retirement Programs | Retirement Programs The components of net pension and postretirement benefits other than pensions (“OPEB”) costs for the quarter and nine months ended September 30, 2020 and 2019 are shown below:
| Quarter Ended September 30, |  | Nine Months Ended September 30, |
| Pensions |  | OPEB |  | Pensions |  | OPEB |  |  |
(Millions of dollars) | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  |  |  |  |  |  |
Amount recognized in Operating Profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | 38 |  |  | $ | 34 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 111 |  |  | $ | 112 |  |  | $ | 2 |  |  | $ | 1 |  |  |  |  |  |  |  |
Amount recognized in Net pension and OPEB cost (benefit), excluding service cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest cost | 52 |  |  | 61 |  |  | 1 |  |  | 3 |  |  | 154 |  |  | 194 |  |  | 4 |  |  | 6 |  |  |  |  |  |  |  |
Expected return on plan assets | (122) |  |  | (117) |  |  | — |  |  | — |  |  | (360) |  |  | (349) |  |  | — |  |  | — |  |  |  |  |  |  |  |
Net amortization and deferral | 22 |  |  | 17 |  |  | — |  |  | (2) |  |  | 67 |  |  | 45 |  |  | (2) |  |  | (4) |  |  |  |  |  |  |  |
Curtailment and termination benefits (a) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10 |  |  | — |  |  | — |  |  |  |  |  |  |  |
Settlement charge (b) | 6 |  |  | 40 |  |  | — |  |  | — |  |  | 6 |  |  | 91 |  |  | — |  |  | — |  |  |  |  |  |  |  |
| (42) |  |  | 1 |  |  | 1 |  |  | 1 |  |  | (133) |  |  | (9) |  |  | 2 |  |  | 2 |  |  |  |  |  |  |  |
Net periodic benefit cost (benefit) | $ | (4) |  |  | $ | 35 |  |  | $ | 2 |  |  | $ | 1 |  |  | $ | (22) |  |  | $ | 103 |  |  | $ | 4 |  |  | $ | 3 |  |  |  |  |  |  |  |
(a) In the second quarter of 2019, Linde recorded a curtailment gain of $7 million and a charge of $17 million for termination benefits in connection with a defined benefit pension plan freeze. (b) In the third quarter of 2020, Linde recorded a pension settlement charge of $6 million ($5 million after tax). In the first quarter of 2019, benefits of $91 million were paid related to the settlement of a U.S. non-qualified plan that was triggered due to a change in control provision. Accordingly, Linde record ed a pension settlement charge of $51 million ($38 million after tax). In the third quarter of 2019, Linde recorded a pension settlement charge of $40 million ($30 million after tax) related to lump sum payments made from a U.S. qualified plan that were triggered by merger-related divestitures. Linde estimates that 2020 required contributions to its pension plans will be in the range of $85 million to $95 million, of which $76 million have been made through September 30, 2020.

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