Retirement Programs (Tables)

6 Months Ended

Jun. 30, 2019

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, 2019 and 2018 are shown below:

 

	Quarter Ended June 30,												Six Months Ended June 30,
	Pensions						OPEB						Pensions						OPEB
(Millions of dollars)	2019			2018			2019			2018			2019			2018			2019			2018
Amount recognized in Operating Profit
Service cost	$	39		$	12		$	—		$	1		$	78		$	24		$	1		$	1
Amount recognized in Net pension and OPEB cost (benefit), excluding service cost
Interest cost	65			25			1			1			133			51			3			2
Expected return on plan assets	(113		)	(41		)	—			—			(232		)	(83		)	—			—
Net amortization and deferral	14			18			(1		)	(1		)	28			36			(2		)	(2		)
Curtailment and termination benefits (a)	10			—			—			—			10			—			—			—
Settlement charge (b)	—			—			—			—			51			—			—			—
	(24		)	2			—			—			(10		)	4			1			—
Net periodic benefit cost	$	15		$	14		$	—		$	1		$	68		$	28		$	2		$	1

(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, or $0.07 per diluted share).