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Retirement Programs (Tables) | 3 Months Ended
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Mar. 31, 2024
Retirement Benefits [Abstract] |
Components of Net Pension and Postretirement Benefits | The components of net pension and postretirement benefits other than pensions (“OPEB”) costs for the three months ended March 31, 2024 and 2023 are shown below:
| Quarter Ended March 31, |  |
(Millions of dollars) | 2024 |  | 2023 |  |  |  |
Amount recognized in Operating Profit |  |  |  |  |  |  |
Service cost | $ | 21 |  |  | $ | 21 |  |  |  |  |
Amount recognized in Net pension and OPEB cost (benefit), excluding service cost |  |  |  |  |  |  |
Interest cost | 91 |  |  | 92 |  |  |  |  |
Expected return on plan assets | (138) |  |  | (129) |  |  |  |  |
Net amortization and deferral | (3) |  |  | (8) |  |  |  |  |
| (50) |  |  | (45) |  |  |  |  |
Net periodic benefit cost (benefit) | $ | (29) |  |  | $ | (24) |  |  |  |  |

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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
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