Retirement Programs (Tables)

6 Months Ended

Jun. 30, 2020

Retirement Benefits, Description [Abstract]

Schedule of Pension and OPEB Net Periodic Benefit Costs

The components of net pension and postretirement benefits other than pensions (“OPEB”) costs for the quarter and six months ended June 30, 2020 and 2019 are shown below:

	Quarter Ended June 30,								Six Months Ended June 30,
	Pensions				OPEB				Pensions				OPEB
(Millions of dollars)	2020		2019		2020		2019		2020		2019		2020		2019
Amount recognized in Operating Profit
Service cost	$	36	$	39	$	—	$	—	$	73	$	78	$	1	$	1
Amount recognized in Net pension and OPEB cost (benefit), excluding service cost
Interest cost	50		65		2		1		102		133		3		3
Expected return on plan assets	(118)		(113)		—		—		(238)		(232)		—		—
Net amortization and deferral	22		14		(1)		(1)		45		28		(2)		(2)
Curtailment and termination benefits (a)	—		10		—		—		—		10		—		—
Settlement charge (b)	—		—		—		—		—		51		—		—
	(46)		(24)		1		—		(91)		(10)		1		1
Net periodic benefit cost	$	(10)	$	15	$	1	$	—	$	(18)	$	68	$	2	$	2

(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 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 recorded a pension settlement charge of $51 million ($38 million after tax).