Benefit Plans

6 Months Ended

Mar. 31, 2024

Retirement Benefits [Abstract]

Benefit Plans

Benefit Plans

The Company has defined benefit pension plans covering certain employees in the United States and certain international locations. The measurement date used for these plans is September 30.

Net pension cost included the following components for the three and six-month periods:

	Three Months Ended March 31,				Six Months Ended March 31,
(Millions of dollars)	2024		2023		2024		2023
Service cost	$	22	$	22	$	47	$	46
Interest cost	35		32		74		67
Expected return on plan assets	(38)		(35)		(80)		(73)
Amortization of prior service credit	(1)		(2)		(2)		(3)
Amortization of loss	14		15		30		32
Settlement loss	—		1		—		1
Net pension cost	$	33	$	34	$	69	$	70

The amounts provided above for amortization of prior service credit and amortization of loss represent the reclassifications of prior service credits and net actuarial losses that were recognized in Accumulated other comprehensive income (loss) in prior periods. All components of the Company’s net periodic pension and postretirement benefit costs, aside from service cost, are recorded to Other (expense) income, net on its condensed consolidated statements of income.