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Supplemental Information (Tables)
 12 Months Ended
Dec. 31, 2024
Supplemental Information [Abstract]  
Schedule of Selling General and Administrative
(Millions of dollars)
Year Ended December 31,
202420232022
Selling, General and Administrative
Selling$1,333 $1,330 $1,295 
General and administrative2,004 1,965 1,812 
$3,337 $3,295 $3,107 
Schedule of Depreciation and Amortization
Year Ended December 31,202420232022
Depreciation and Amortization (a)
Depreciation$3,226 $3,266 $3,633 
Amortization of intangibles (Note 10)
554 550 571 
Depreciation and Amortization$3,780 $3,816 $4,204 
Schedule of Other Income (Expense)
Year Ended December 31,202420232022
Other Income (Expenses) – Net
Currency related net gains (losses)$(11)$(47)$(18)
Partnership income3 2 18 
Severance expense(16)(12)(13)
Asset divestiture gains (losses) – net60 6 (9)
Insurance recoveries45 10 2 
Other – net gains (losses)104 — (42)
$185 $(41)$(62)
Schedule of Interest Expense

Year Ended December 31,
202420232022
Interest Expense – Net
Interest incurred on debt and other$555 $480 $277 
Interest income(228)(197)(117)
Amortization on acquired debt(3)(16)(35)
Interest capitalized(68)(67)(62)
$256 $200 $63 
Schedule of Accounts Receivable
(Millions of dollars)
December 31,
20242023
Accounts Receivable
Trade and Other receivables$5,043 $5,175 
Less: allowance for expected credit losses(421)(457)
$4,622 $4,718 
Schedule of Inventories

December 31,
20242023
Inventories
Raw materials and supplies$529 $614 
Work in process371 390 
Finished goods1,046 1,111 
$1,946 $2,115 
Schedule of Prepaid and Other Current Assets
December 31,20242023
Prepaid and Other Current Assets
Prepaid and other deferred charges (b)$579 $583 
VAT recoverable177 178 
Unrealized gains on derivatives (Note 12)
302 73 
Other (c)206 93 
$1,264 $927 
Schedule of Other Long-term Assets
December 31,20242023
Other Long-term Assets
Pension assets (Note 16)
$1,106 $380 
Insurance contracts (d)32 38 
Long-term receivables, net (e)28 163 
Lease assets (Note 4)
989 938 
Deposits73 76 
Investments carried at cost (f) (Note 17)106 187 
Deferred charges58 60 
Deferred income taxes (Note 5)
428 226 
Unrealized gains on derivatives (Note 12)
4 8 
Other206 223 
$3,030 $2,299 
Schedule of Other Current Liabilities
December 31,20242023
Other Current Liabilities
Accrued expenses$1,321 $1,494 
Payroll618 678 
VAT payable256 253 
Pension and postretirement (Note 16)
37 31 
Interest payable227 129 
Lease liability (Note 4)
230 227 
Insurance reserves20 21 
Unrealized losses on derivatives (Note 12)
92 41 
Cost reduction programs and other charges (Note 3)
175 146 
Other950 1,136 
$3,926 $4,156 
Schedule of Other Long-term Liabilities
December 31,20242023
Other Long-term Liabilities
Pension and postretirement (Note 16)
$519 $693 
Tax liabilities for uncertain tax positions (Note 5)
210 216 
Tax Act liabilities (g)— 80 
Lease liability (Note 4)
756 715 
Interest and penalties for uncertain tax positions (Note 5)
16 14 
Insurance reserves60 54 
Asset retirement obligation305 305 
Unrealized losses on derivatives (Note 12)
9 6 
Cost reduction programs and other charges (Note 3)
66 68 
Contingent liabilities (Note 17)
1,646 1,148 
Other 428 505 
$4,015 $3,804 
Schedule of Deferred Credits
December 31,20242023
Deferred Credits
Deferred income taxes (Note 5)
$5,659 $5,749 
Contract liabilities (Note 19)
1,098 1,049 
$6,757 $6,798 
Schedule of Accumulated Other Comprehensive Income (Loss)
December 31,20242023
Accumulated Other Comprehensive Income (Loss)
Cumulative translation adjustment - net of taxes:
Americas (h)$(4,422)$(3,618)
EMEA (h)(1,235)(737)
APAC (h)(1,736)(1,037)
Engineering(432)(93)
Other858 113 
(6,967)(5,372)
Derivatives – net of taxes(6)7 
Pension/OPEB funded status obligation (net of $95 million tax obligation in 2024 and $60 million tax benefit in 2023) (Note 16)
79 (440)
$(6,894)$(5,805)
(a)Depreciation and amortization expense in 2024 include $467 million and $456 million, respectively, of Linde AG purchase accounting impacts. In 2023, depreciation and amortization expense include $529 million and $462 million, respectively, of Linde AG purchase accounting impacts.
(b)    Includes estimated income tax payments of $221 million in 2024 and $173 million in 2023.
(c)     In 2024, the amounts relate primarily to current notes receivables from the sale of GIST.
(d)    Consists primarily of insurance contracts and other investments to be utilized for non-qualified pension and OPEB obligations.
(e)    The balances at December 31, 2024 and 2023 are net of reserves of $36 million and $42 million, respectively. In 2023, the amounts relate primarily to long-term notes receivable from customers in APAC, government receivables in Brazil and receivables from the sale of GIST.
(f)    Includes investments from the deconsolidation of Russian subsidiaries.
(g)    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. In 2024, the final annual installment was reclassified to accrued taxes.
(h)    Americas consists of currency translation adjustments primarily in Canada, Mexico, and Brazil. EMEA relates primarily to Germany, the U.K., the Netherlands, Norway and Sweden. APAC relates primarily to China, South Korea, India, and Australia.