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Consolidated Statements of Cash Flows
€ in Millions, $ in Millions
12 Months Ended
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Operations      
Net Income – Linde plc $ 3,826 $ 2,501 $ 2,285
Less: income from discontinued operations, net of tax and noncontrolling interests (5) (4) (102)
Add: Noncontrolling interests from continuing operations 135 125 89
Income From Continuing Operations (Including Noncontrolling Interests) 3,956 2,622 2,272
Adjustments to reconcile net income to net cash provided by operating activities:      
Cost Reduction Programs and other charges, net of payments 98 258 (236)
Amortization of merger-related inventory step-up 0 0 12
Depreciation and amortization 4,635 4,626 4,675
Deferred income taxes (254) (369) (303)
Share-based compensation 128 133 95
Net gain on sale of businesses, net of tax 0 0 (108)
Non-cash charges and other (19) 152 (127)
Working capital      
Accounts receivable (553) 19 80
Contract assets and liabilities, net 1,307 90 87
Inventory (129) 18 (81)
Prepaid and other current assets 76 128 (72)
Payables and accruals 447 109 (174)
Pension contributions (42) (91) (94)
Long-term assets, liabilities and other 75 (266) 93
Net cash provided by operating activities 9,725 7,429 6,119
Investing      
Capital expenditures (3,086) (3,400) (3,682)
Acquisitions, net of cash acquired (88) (68) (225)
Divestitures and asset sales, net of cash divested 167 482 5,096
Net cash provided by (used for) investing activities (3,007) (2,986) 1,189
Financing      
Short-term debt borrowings (repayments) – net (1,329) 1,198 224
Long-term debt borrowings 2,283 2,796 99
Long-term debt repayments (1,468) (2,681) (1,583)
Issuances of ordinary shares 50 47 72
Purchases of ordinary shares (4,612) (2,457) (2,658)
Cash dividends – Linde plc shareholders (2,189) (2,028) (1,891)
Noncontrolling interest transactions and other (323) (220) (3,260)
Net cash used for financing activities (7,588) (3,345) (8,997)
Discontinued Operations      
Cash provided by operating activities 0 0 69
Cash used for investing activities 0 0 (60)
Cash provided by financing activities 0 0 5
Net cash provided by discontinued operations 0 0 14
Effect of exchange rate changes on cash and cash equivalents (61) (44) (77)
Change in cash and cash equivalents (931) 1,054 (1,752)
Cash and cash equivalents, beginning-of-period 3,754 2,700 4,466
Cash and cash equivalents, including discontinued operations 2,823 3,754 2,714
Cash and cash equivalents of discontinued operations 0 0 (14)
Cash and cash equivalents, end-of-period 2,823 3,754 2,700
Supplemental Data      
Income taxes paid 1,710 1,066 1,357
Interest paid, net of capitalized interest (Note 7) $ 233 $ 322 $ 275