XML 50 R36.htm IDEA: XBRL DOCUMENT v3.24.0.1
Supplemental Information (Tables)
 12 Months Ended
Dec. 31, 2023
Supplemental Information [Abstract]  
Schedule of Selling General and Administrative
(Millions of dollars)
Year Ended December 31,
202320222021
Selling, General and Administrative
Selling$1,330 $1,295 $1,342 
General and administrative1,965 1,812 1,847 
$3,295 $3,107 $3,189 
Schedule of Depreciation and Amortization
Year Ended December 31,202320222021
Depreciation and Amortization (a)
Depreciation$3,266 $3,633 $3,912 
Amortization of intangibles (Note 10)550 571 723 
Depreciation and Amortization$3,816 $4,204 $4,635 
Depreciation and amortization expense in 2023 include $529 million and $462 million, respectively, of Linde AG purchase accounting impacts. In 2022, depreciation and amortization expense include $1,006 million and $474 million, respectively, of Linde AG purchase accounting impacts.
Schedule of Other Income (Expense)
Year Ended December 31,202320222021
Other Income (Expenses) – Net
Currency related net gains (losses)$(47)$(18)$(29)
Partnership income2 18 13 
Severance expense(12)(13)(5)
Asset divestiture gains (losses) – net6 (9)(31)
Other – net gains (losses)10 (40)26 
$(41)$(62)$(26)
Schedule of Interest Expense

Year Ended December 31,
202320222021
Interest Expense – Net
Interest incurred on debt and other$480 $277 $227 
Interest income(197)(117)(40)
Amortization on acquired debt(16)(35)(53)
Interest capitalized(67)(62)(57)
$200 $63 $77 
Schedule of Accounts Receivable
(Millions of dollars)
December 31,
20232022
Accounts Receivable
Trade and Other receivables$5,175 $4,964 
Less: allowance for expected credit losses(457)(405)
$4,718 $4,559 
Schedule of Inventories

December 31,
20232022
Inventories
Raw materials and supplies$614 $567 
Work in process390 368 
Finished goods1,111 1,043 
$2,115 $1,978 
Schedule of Prepaid and Other Current Assets
December 31,20232022
Prepaid and Other Current Assets
Prepaid and other deferred charges (b)$583 $597 
VAT recoverable178 225 
Unrealized gains on derivatives (Note 12)73 24 
Other93 104 
$927 $950 
Includes estimated income tax payments of $173 million in 2023 and $164 million in 2022.
Schedule of Other Long-term Assets
December 31,20232022
Other Long-term Assets
Pension assets (Note 16)$380 $661 
Insurance contracts (c)38 39 
Long-term receivables, net (d)163 164 
Lease assets (Note 4)938 872 
Deposits76 52 
Investments carried at cost (e)187 184 
Deferred charges60 66 
Deferred income taxes (Note 5) 226 230 
Unrealized gains on derivatives (Note 12)8 4 
Other223 204 
$2,299 $2,476 
Consists primarily of insurance contracts and other investments to be utilized for non-qualified pension and OPEB obligations.The balances at December 31, 2023 and 2022 are net of reserves of $42 million and $36 million, respectively. The amounts relate primarily to long-term notes receivable from customers in APAC, government receivables in Brazil and receivables from the sale of GIST. Includes investments from the deconsolidation of Russian subsidiaries.
Schedule of Other Current Liabilities
December 31,20232022
Other Current Liabilities
Accrued expenses$1,494 $1,533 
Payroll678 614 
VAT payable253 259 
Pension and postretirement (Note 16)31 51 
Interest payable129 118 
Lease liability (Note 4)227 223 
Insurance reserves21 19 
Unrealized losses on derivatives (Note 12)41 23 
Cost reduction programs and other charges (Note 3)146 187 
Other1,136 1,055 
$4,156 $4,082 
Schedule of Other Long-term Liabilities
December 31,20232022
Other Long-term Liabilities
Pension and postretirement (Note 16)$693 $640 
Tax liabilities for uncertain tax positions (Note 5)216 248 
Tax Act liabilities (f)80 139 
Lease liability (Note 4)715 654 
Interest and penalties for uncertain tax positions (Note 5)14 35 
Insurance reserves54 52 
Asset retirement obligation305 305 
Unrealized losses on derivatives (Note 12)6 73 
Cost reduction programs and other charges (Note 3)68 133 
Contingent liabilities (Note 17)1,148 29 
Other 505 487 
$3,804 $2,795 
Represents tax payable related to the deemed repatriation tax pursuant to the U.S. Tax Cuts and Jobs Act of 2018. The company is required to fund the balance in annual installments through 2025.
Schedule of Deferred Credits
December 31,20232022
Deferred Credits
Deferred income taxes (Note 5) $5,749 $5,886 
Contract liabilities (Note 19)1,049 913 
$6,798 $6,799 
Schedule of Accumulated Other Comprehensive Income (Loss)
December 31,20232022
Accumulated Other Comprehensive Income (Loss)
Cumulative translation adjustment - net of taxes:
Americas (g)$(3,618)$(3,942)
EMEA (g)(737)(1,249)
APAC (g)(1,037)(835)
Engineering(93)(241)
Other113 483 
(5,372)(5,784)
Derivatives – net of taxes7 62 
Pension/OPEB funded status obligation (net of $60 million tax benefit in 2023 and $(54) million tax obligation in 2022) (Note 16)
(440)(60)
$(5,805)$(5,782)
Americas consists of currency translation adjustments primarily in Canada, Mexico, and Brazil. EMEA relates primarily to Germany, the U.K., the Netherlands, Hungary, Norway and Sweden. APAC relates primarily to China, South Korea, India and Australia.