XML 41 R27.htm IDEA: XBRL DOCUMENT v3.24.0.1
Segment Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
Linde’s operations consist of two major product lines: industrial gases and engineering. As further described in the following paragraph, Linde’s industrial gases operations are managed on a geographic basis, which represent three of the company's reportable segments - Americas, EMEA (Europe/Middle East/Africa), and APAC (Asia/South Pacific); a fourth reportable segment, which represents the company's Engineering business, designs and manufactures equipment for air separation and other industrial gas applications specifically for end customers and is managed on a worldwide basis operating in all three geographic segments. Other consists of corporate costs and a few smaller businesses which individually do not meet the quantitative thresholds for separate presentation.
The industrial gases product line centers on the manufacturing and distribution of atmospheric gases (oxygen, nitrogen, argon, rare gases) and process gases (carbon dioxide, helium, hydrogen, electronic gases, specialty gases, acetylene). Many of these products are co-products of the same manufacturing process. Linde manufactures and distributes nearly all of its products and manages its customer relationships on a regional basis. Linde’s industrial gases are distributed to various end-markets within a regional segment through one of three basic distribution methods: on-site or tonnage; merchant or bulk; and packaged or cylinder gases. The distribution methods are generally integrated in order to best meet the customer’s needs and very few of its products can be economically transported outside of a region. Therefore, the distribution economics are specific to the various geographies in which the company operates and are consistent with how management assesses performance.
The company’s measure of profit/loss for segment reporting is segment operating profit. Segment operating profit is defined as operating profit excluding purchase accounting impacts of the Linde AG merger, intercompany royalties, and items not indicative of ongoing business trends. This is the manner in which the company’s CODM assesses performance and allocates resources. Similarly, total assets have not been included as this is not provided to the CODM for their assessment.

The table below presents information about reportable segments for the years ended December 31, 2023, 2022 and 2021.
(Millions of dollars)202320222021
Sales (a)
Americas$14,304 $13,874 $12,103 
EMEA8,542 8,443 7,643 
APAC6,559 6,480 6,133 
Engineering2,160 2,762 2,867 
Other1,289 1,805 2,047 
Total Sales$32,854 $33,364 $30,793 
 
202320222021
Segment Operating Profit
Americas$4,244 $3,732 $3,368 
EMEA2,486 2,013 1,889 
APAC1,806 1,670 1,502 
Engineering491 555 473 
Other43 (66)(56)
Reported Segment operating profit9,070 7,904 7,176 
Other charges (Note 3)(40)(1,029)(273)
Purchase accounting impacts - Linde AG(1,006)(1,506)(1,919)
Total operating profit$8,024 $5,369 $4,984 
202320222021
Depreciation and Amortization
Americas$1,423 $1,320 $1,243 
EMEA640 661 752 
APAC633 593 611 
Engineering33 33 39 
Other96 116 127 
Segment depreciation and amortization2,825 2,723 2,772 
Purchase accounting impacts - Linde AG991 1,481 1,863 
Total depreciation and amortization$3,816 $4,204 $4,635 
202320222021
Capital Expenditures and Acquisitions
Americas$2,999 $1,698 $1,354 
EMEA635 550 669 
APAC975 889 995 
Engineering24 28 25 
Other107 118 131 
Total Capital Expenditures and Acquisitions$4,740 $3,283 $3,174 
202320222021
Sales by Major Country
United States$10,566 $10,553 $9,123 
Germany (c)2,827 3,662 3,601 
China2,585 2,643 2,562 
United Kingdom1,507 1,954 2,060 
Australia1,303 1,372 1,307 
Brazil1,302 1,158 1,065 
Other – non-U.S.12,764 12,022 11,075 
Total sales$32,854 $33,364 $30,793 
202320222021
Long-lived Assets by Major Country (b)
United States$8,490 $7,663 $7,659 
Germany1,584 1,678 2,003 
China2,063 2,176 2,385 
United Kingdom684 704 1,078 
Australia654 688 872 
Brazil836 720 705 
Other – non-U.S.10,241 9,919 11,301 
Total long-lived assets$24,552 $23,548 $26,003 
________________________
(a)Sales reflect external sales only. Intersegment sales, primarily from Engineering to the industrial gases segments, were $1,479 million, $1,035 million and $896 million for the year ended December 31, 2023, 2022 and 2021, respectively.
(b)Long-lived assets include property, plant and equipment - net.
(c)Sales in Germany include Engineering sales to third parties, locally and internationally, which represent 35%, 44% and 53% of Germany sales in 2023, 2022 and 2021, respectively.