Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Other Intangible Assets

OTHER INTANGIBLE ASSETS

The following is a summary of Linde’s other intangible assets at December 31, 2023 and 2022:  

(Millions of dollars) For the year ended December 31, 2023	Customer Relationships		Brands/Tradenames		Other Intangible Assets		Total
Cost:
Balance, December 31, 2022	$	11,062	$	2,565	$	1,697	$	15,324
Additions	258		6		50		314
Foreign currency translation	185		38		41		264
Disposals	(3)		—		(20)		(23)
Other *	(23)		—		145		122
Balance, December 31, 2023	11,479		2,609		1,913		16,001
Less: accumulated amortization:
Balance, December 31, 2022	(1,841)		(196)		(867)		(2,904)
Amortization expense (Note 7)	(423)		(36)		(91)		(550)
Foreign currency translation	(36)		(1)		(24)		(61)
Disposals	—		—		21		21
Other *	30		—		(138)		(108)
Balance, December 31, 2023	(2,270)		(233)		(1,099)		(3,602)
Net balance at December 31, 2023	$	9,209	$	2,376	$	814	$	12,399
(Millions of dollars) For the year ended December 31, 2022	Customer Relationships		Brands/Tradenames		Other Intangible Assets		Total
Cost:
Balance, December 31, 2021	$	11,859	$	2,685	$	1,629	$	16,173
Additions	19		—		53		72
Foreign currency translation	(660)		(120)		(56)		(836)
Disposals (Note 2)	(140)		—		(45)		(185)
Other *	(16)		—		116		100
Balance, December 31, 2022	11,062		2,565		1,697		15,324
Less: accumulated amortization:
Balance, December 31, 2021	(1,541)		(159)		(671)		(2,371)
Amortization expense (Note 7)	(419)		(42)		(110)		(571)
Foreign currency translation	80		5		13		98
Disposals (Note 2)	34		—		16		50
Other *	5		—		(115)		(110)
Balance, December 31, 2022	(1,841)		(196)		(867)		(2,904)
Net balance at December 31, 2022	$	9,221	$	2,369	$	830	$	12,420

*Other primarily relates to the write-off of fully amortized assets and reclassifications.

There are no expected residual values related to these intangible assets. Amortization expense for the years ended December 31, 2023, 2022 and 2021 was $550 million, $571 million and $723 million, respectively. The remaining weighted-average amortization period for intangible assets is approximately 24 years.

Total estimated annual amortization expense related to finite-lived intangibles is as follows: 

(Millions of dollars)
2024	$	578
2025	528
2026	516
2027	505
2028	492
Thereafter	8,035
Total amortization related to finite-lived intangible assets	10,654
Indefinite-lived intangible assets at December 31, 2023	1,745
Net intangible assets at December 31, 2023	$	12,399