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LINDE PLC
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| USD ($) $ in Millions | LTM | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|---|
Operations | |||||||||
Net Income – Linde plc | $ 7,244 | $ 6,898 | $ 6,565 | $ 6,199 | |||||
Less: income from discontinued operations, net of tax and noncontrolling interests | - | - | - | 0 | |||||
Add: Noncontrolling interests | 173 | 160 | 172 | 142 | |||||
Net Income (Including Noncontrolling Interests) | 7,417 | 7,058 | 6,737 | 6,341 | |||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Cost reduction program and other charges | 77 | 139 | 31 | (118) | |||||
Amortization of merger-related inventory step-up | - | - | - | - | |||||
Tax Act income tax charge, net | - | - | - | - | |||||
Depreciation and amortization | 3,825 | 3,763 | 3,780 | 3,816 | |||||
Deferred income taxes | (464) | (465) | (142) | (84) | |||||
Share-based compensation | 136 | 164 | 160 | 141 | |||||
Net gain on sale of businesses, net of tax | - | - | - | - | |||||
Non-cash charges and other | 23 | 23 | (72) | 43 | |||||
Working capital | |||||||||
Accounts receivable | (464) | (122) | (160) | (86) | |||||
Contract assets and liabilities, net | (338) | (72) | (409) | (168) | |||||
Inventory | (6) | 47 | 56 | (127) | |||||
Prepaid and other current assets | 84 | 55 | (55) | 66 | |||||
Payables and accruals | 442 | (148) | (277) | (168) | |||||
Pension contributions | (28) | (25) | (35) | (46) | |||||
Long-term assets, liabilities and other | (215) | (67) | (191) | (305) | |||||
Net cash provided by operating activities | 10,489 | 10,350 | 9,423 | 9,305 | |||||
Investing | |||||||||
Capital expenditures | (5,514) | (5,261) | (4,497) | (3,787) | |||||
Acquisitions, net of cash acquired | (527) | (412) | (317) | (953) | |||||
Divestitures, net of cash divested and asset sales | 141 | 42 | 170 | 70 | |||||
Other investing, net | (37) | (90) | - | - | |||||
Net cash used for investing activities | (5,937) | (5,721) | (4,644) | (4,670) | |||||
Cash acquired in merger transaction | - | - | - | - | |||||
Financing | |||||||||
Short-term debt borrowings (repayments) – net | 4 | 41 | (372) | 554 | |||||
Long-term debt borrowings | 4,105 | 5,148 | 4,844 | 2,188 | |||||
Long-term debt repayments | (1,392) | (2,278) | (1,305) | (1,682) | |||||
Issuances of ordinary shares | 30 | 23 | 31 | 33 | |||||
Purchases of ordinary shares | (4,057) | (4,601) | (4,482) | (3,958) | |||||
Cash dividends - Linde plc shareholders | (2,878) | (2,811) | (2,655) | (2,482) | |||||
Noncontrolling interest transactions and other | (259) | (76) | (420) | (53) | |||||
Net cash used for financing activities | (4,447) | (4,554) | (4,359) | (5,400) | |||||
Discontinued Operations | |||||||||
Cash provided by operating activities | - | - | - | - | |||||
Cash used for investing activities | - | - | - | - | |||||
Cash provided by financing activities | - | - | - | - | |||||
Net cash provided by discontinued operations | - | - | - | - | |||||
Effect of exchange rate changes on cash and cash equivalents | 7 | 131 | (234) | (7) | |||||
Effect of exchange rate changes on cash and cash equivalents | - | - | - | - | |||||
Change in cash and cash equivalents | 112 | 206 | 186 | (772) | |||||
Supplemental Data | |||||||||
Income taxes paid | - | - | 2,216 | 1,955 | |||||
Interest paid, net of capitalized interest | $ 548 | $ 548 | $ 443 | $ 451 |