Company: LIN
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-007990
Chunk: 52

Company: LINDE PLC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 52
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 plans.  In 2023, the actuarial losses were largely driven by the decrease in the discount rate environment resulting from a higher PBO, which was partially offset by favorable plan asset experience for non-U.S plans. The U.S. plan derived a benefit from the actual return on plan assets.The following table provides information only for those individual pension plans where the accumulated benefit obligation exceeds the fair value of plan assets:(Millions of dollars)Year Ended December 31,Pensions20242023U.S.Non-U.S.U.S.Non-U.S.Accumulated benefit obligation ("ABO")$44 $1,746 $1,952 $1,880 Fair value of plan assets$— $1,384 $1,945 $1,385 The following table provides information only for those individual pension plans where the projected benefit obligation exceeds the fair value of plan assets:(Millions of dollars)Year Ended December 31,Pensions20242023U.S.Non-U.S.U.S.Non-U.S.Projected benefit obligation ("PBO")$47 $1,796 $2,012 $1,932 Fair value of plan assets$— $1,391 $1,945 $1,390 

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AssumptionsThe assumptions used to determine benefit obligations are as of the respective balance sheet dates and the assumptions used to determine net benefit cost are as of the previous year-end, as shown below: Pensions U.S.Non-U.S. 2024202320242023Weighted average assumptions used to determine benefit obligations at December 31,Discount rate5.55 %5.03 %4.76 %4.27 %Interest crediting rate4.68 %4.03 %1.11 %1.70 %Rate of increase in compensation levels 3.50 %3.50 %2.55 %2.58 %Weighted average assumptions used to determine net periodic benefit cost for years ended December 31,Discount rate 5.03 %5.35 %4.27 %4.58 %Interest crediting rate4.03 %4.02 %1.70 %2.13 %Rate of increase in compensation levels 3.50 %3.25 %2.58 %2.59 %Expected long-term rate of return on plan assets (1)7.00