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Retirement Programs | 9 Months Ended
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Sep. 30, 2024
Retirement Benefits [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, 2024 and 2023 are shown below:
| Quarter Ended September 30, |  | Nine Months Ended September 30,
(Millions of dollars) | 2024 |  | 2023 |  | 2024 |  | 2023
Amount recognized in Operating Profit |  |  |  |  |  |  |
Service cost | $ | 21 |  |  | $ | 21 |  |  | $ | 63 |  |  | $ | 63 |
Amount recognized in Net pension and OPEB cost (benefit), excluding service cost |  |  |  |  |  |  |
Interest cost | 91 |  |  | 94 |  |  | 273 |  |  | 280 |
Expected return on plan assets | (140) |  |  | (132) |  |  | (415) |  |  | (392) |
Net amortization and deferral | (2) |  |  | (9) |  |  | (8) |  |  | (25) |
Settlement charge (a) | 6 |  |  | 12 |  |  | 6 |  |  | 12 |
| (45) |  |  | (35) |  |  | (144) |  |  | (125) |
Net periodic benefit cost (benefit) | $ | (24) |  |  | $ | (14) |  |  | $ | (81) |  |  | $ | (62) |
(a) In the third quarters of 2024 and 2023, Linde recorded pension settlement charges of $6 million and $12 million ($5 million and $10 million, after tax), respectively, related to lump sum benefit payments made from a U.S. non-qualified plan. Components of net periodic benefit expense for other post-retirement plans for the quarter and nine months ended September 30, 2024 and 2023 were not material. Linde estimates that 2024 required contributions to its pension plans will be in the range of approximately $30 million to $40 million, of which $29 million have been made through September 30, 2024.

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