Equity

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Equity

Equity

Equity

On March 1, 2023, in connection with the shareholder approved intercompany reorganization that resulted in the delisting of old Linde plc from the New York Stock Exchange (NYSE) and the Frankfurt Stock Exchange (FSE), and the subsequent relisting of new Linde plc to the NYSE, Linde shareholders automatically received one share of the new holding company, listed on the NYSE in exchange for each share of Linde plc that was previously owned. The company issued 490,766,972 new Linde shares. Linde plc's historical treasury shares were immediately canceled which resulted in an approximately $15 billion decrease in treasury shares and retained earnings in Shareholders' Equity for the period ended March 31, 2023.

A summary of the changes in total equity for the three months ended March 31, 2023 and 2022 is provided below:

	Quarter Ended March 31,
(Millions of dollars)	2023						2022
Activity	Linde plc Shareholders’ Equity		Noncontrolling Interests		Total Equity		Linde plc Shareholders’ Equity		Noncontrolling Interests		Total Equity
Balance, beginning of period	$	40,028	$	1,346	$	41,374	$	44,035	$	1,393	$	45,428
Net income (a)	1,516		36		1,552		1,174		36		1,210
Other comprehensive income (loss)	(28)		(2)		(30)		110		(12)		98
Noncontrolling interests:
Additions (reductions)	—		2		2		—		4		4
Dividends and other capital changes	—		(29)		(29)		—		(7)		(7)
Dividends to Linde plc ordinary share holders ($1.275 per share in 2023 and $1.17 per share in 2022)	(623)		—		(623)		(592)		—		(592)
Issuances of ordinary shares:
For employee savings and incentive plans	(63)		—		(63)		(46)		—		(46)
Purchases of ordinary shares	(890)		—		(890)		(1,752)		—		(1,752)
Share-based compensation	30		—		30		34		—		34
Balance, end of period	$	39,970	$	1,353	$	41,323	$	42,963	$	1,414	$	44,377

(a) Net income for noncontrolling interests excludes net income related to redeemable noncontrolling interests which is not significant for the three months ended March 31, 2023 and 2022 and which is not part of total equity.

The components of Accumulated other comprehensive income (loss) are as follows:

	March 31,		December 31,
(Millions of dollars)	2023		2022
Cumulative translation adjustment - net of taxes:
Americas	$	(3,754)	$	(3,942)
EMEA	(1,016)		(1,249)
APAC	(881)		(835)
Engineering	(190)		(241)
Other	288		483
	(5,553)		(5,784)
Derivatives - net of taxes	(3)		62
Pension / OPEB (net of $9 million tax benefit and $54 million tax obligation at March 31, 2023 and December 31, 2022, respectively)	(254)		(60)
	$	(5,810)	$	(5,782)