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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operations      
Net Income – Linde plc $ 6,565 $ 6,199 $ 4,147
Less: noncontrolling interests 172 142 134
Net Income (Including Noncontrolling Interests) 6,737 6,341 4,281
Adjustments to reconcile net income to net cash provided by operating activities:      
Cost reduction program and other charges 31 (118) 902
Depreciation and amortization 3,780 3,816 4,204
Deferred income taxes (142) (84) (383)
Share-based compensation 160 141 107
Non-cash charges and other (72) 43 (49)
Working capital      
Accounts receivable (160) (86) (423)
Contract assets and liabilities, net (409) (168) 310
Inventory 56 (127) (347)
Prepaid and other current assets (55) 66 (157)
Payables and accruals (277) (168) 307
Pension contributions (35) (46) (51)
Long-term assets, liabilities and other (191) (305) 163
Net cash provided by operating activities 9,423 9,305 8,864
Investing      
Capital expenditures (4,497) (3,787) (3,173)
Acquisitions, net of cash acquired (317) (953) (110)
Divestitures, net of cash divested and asset sales 170 70 195
Net cash used for investing activities (4,644) (4,670) (3,088)
Financing      
Short-term debt borrowings (repayments) – net (372) 554 3,050
Long-term debt borrowings 4,844 2,188 3,210
Long-term debt repayments (1,305) (1,682) (1,785)
Issuances of ordinary shares 31 33 36
Purchases of ordinary shares (4,482) (3,958) (5,168)
Cash dividends - Linde plc shareholders (2,655) (2,482) (2,344)
Noncontrolling interest transactions and other (420) (53) (88)
Net cash used for financing activities (4,359) (5,400) (3,089)
Effect of exchange rate changes on cash and cash equivalents (234) (7) (74)
Change in cash and cash equivalents 186 (772) 2,613
Cash and cash equivalents, beginning-of-period 4,664 5,436 2,823
Cash and cash equivalents, end-of-period 4,850 4,664 5,436
Supplemental Data      
Income taxes paid 2,216 1,955 1,735
Interest paid, net of capitalized interest $ 443 $ 451 $ 170