$LIN

LINDE PLC

CIK:0001707925|SEC Filings

CONSOLIDATED STATEMENT OF INCOME - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Sales	$ 9,289	$ 8,495	$ 18,070	$ 16,607
Cost of sales, exclusive of depreciation and amortization	4,861	4,306	9,384	8,463
Selling, general and administrative	891	870	1,784	1,656
Depreciation and amortization	963	942	1,914	1,852
Research and development	37	38	75	76
Cost reduction program and other charges	0	0	0	55
Other income (expense) - net	17	15	80	33
Operating Profit	2,554	2,354	4,993	4,538
Interest expense - net	61	67	123	127
Net pension and OPEB cost (benefit), excluding service cost	(53)	(59)	(107)	(115)
Income Before Income Taxes and Equity Investments	2,546	2,346	4,977	4,526
Income taxes	610	573	1,181	1,084
Income Before Equity Investments	1,936	1,773	3,796	3,442
Income from equity investments	36	33	76	71
Net Income (Including Noncontrolling Interests)	1,972	1,806	3,872	3,513
Less: noncontrolling interests	(44)	(40)	(87)	(74)
Net income - Linde plc	$ 1,928	$ 1,766	$ 3,785	$ 3,439
Per Share Data – Linde plc Shareholders
Basic earnings per share (in dollars per share)	$ 4.17	$ 3.75	$ 8.17	$ 7.29
Diluted earnings per share (in dollars per share)	$ 4.15	$ 3.73	$ 8.13	$ 7.24
Weighted Average Shares Outstanding (000’s):
Basic shares outstanding (in shares)	462,525	470,865	463,284	471,857
Diluted shares outstanding (in shares)	464,523	473,573	465,299	474,691

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operations
Net income - Linde plc	$ 3,785	$ 3,439
Add: Noncontrolling interests	87	74
Net Income (including noncontrolling interests)	3,872	3,513
Adjustments to reconcile net income to net cash provided by operating activities:
Cost reduction program and other charges	(76)	(14)
Depreciation and amortization	1,914	1,852
Deferred income taxes	(12)	(13)
Share-based compensation	60	88
Working capital:
Accounts receivable	(651)	(309)
Inventory	(89)	(36)
Prepaid and other current assets	(52)	(81)
Payables and accruals	91	(499)
Contract assets and liabilities, net	(288)	(22)
Pension contributions	(18)	(15)
Long-term assets, liabilities and other	(240)	(92)
Net cash provided by (used for) operating activities	4,511	4,372
Investing
Capital expenditures	(2,780)	(2,527)
Acquisitions, net of cash acquired	(385)	(270)
Divestitures, net of cash divested and asset sales	123	24
Other investing, net	0	(53)
Net cash provided by (used for) investing activities	(3,042)	(2,826)
Financing
Short-term debt borrowings (repayments) - net	388	425
Long-term debt borrowings	2,016	3,059
Long-term debt repayments	(759)	(1,645)
Issuances of ordinary shares	22	15
Purchases of ordinary shares	(1,678)	(2,222)
Cash dividends - Linde plc shareholders	(1,479)	(1,412)
Noncontrolling interest transactions and other	(157)	26
Net cash provided by (used for) financing activities	(1,647)	(1,754)
Effect of exchange rate changes on cash and cash equivalents	20	144
Change in cash and cash equivalents	(158)	(64)
Cash and cash equivalents, beginning-of-period	5,056	4,850
Cash and cash equivalents, end-of-period	$ 4,898	$ 4,786

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 4,898	$ 5,056
Accounts receivable - net	5,632	4,966
Contract assets	432	269
Inventories	2,122	2,055
Prepaid and other current assets	1,092	979
Total Current Assets	14,176	13,325
Property, plant and equipment - net	29,170	28,260
Goodwill	27,927	27,927
Other intangible assets - net	11,564	11,871
Other long-term assets	5,512	5,434
Total Assets	88,349	86,817
Liabilities and Equity
Accounts payable	2,837	2,810
Short-term debt	4,861	4,510
Current portion of long-term debt	2,474	1,796
Contract liabilities	1,128	1,231
Other current liabilities	4,827	4,851
Total Current Liabilities	16,127	15,198
Long-term debt	20,678	20,683
Other long-term liabilities	10,914	11,195
Total Liabilities	47,719	47,076
Redeemable noncontrolling interests	13	13
Linde plc Shareholders’ Equity (Note 10):
Ordinary shares, €0.001 par value, authorized 1,750,000,000 shares, 2026 and 2025 issued: 490,766,972 ordinary shares	1	1
Additional paid-in capital	39,130	39,430
Retained earnings	18,804	16,608
Accumulated other comprehensive income (loss)	(5,926)	(6,233)
Less: Treasury shares, at cost (2026 – 29,786,809 shares and 2025 – 27,086,030 shares)	(12,928)	(11,561)
Total Linde plc Shareholders’ Equity	39,081	38,245
Noncontrolling interests	1,536	1,483
Total Equity	40,617	39,728
Total Liabilities and Equity	$ 88,349	$ 86,817