Equity (Tables)

9 Months Ended

Sep. 30, 2025

A summary of the changes in total equity for the quarter and nine months ended September 30, 2025 and 2024 is provided below:


	Quarter Ended September 30,
(Millions of dollars)	2025						2024
Activity	Linde plc Shareholders’ Equity		Noncontrolling Interests		Total Equity		Linde plc Shareholders’ Equity		Noncontrolling Interests		Total Equity
Balance, beginning of period	$	38,515	$	1,458	$	39,973	$	38,179	$	1,359	$	39,538
Net income (a)	1,929		43		1,972		1,550		53		1,603
Other comprehensive income (loss)	(159)		(6)		(165)		735		29		764
Noncontrolling interests:
Additions (reductions)	—		16		16		—		(1)		(1)
Dividends and other capital changes	—		(54)		(54)		—		(23)		(23)

Dividends to Linde plc ordinary share holders ($1.50 per share in 2025 and $1.39 per share in 2024)	(701)		—		(701)		(662)		—		(662)
Issuances of ordinary shares:

For employee savings and incentive plans	(22)		—		(22)		(1)		—		(1)

Purchases of ordinary shares	(992)		—		(992)		(670)		—		(670)

Share-based compensation	45		—		45		42		—		42
Balance, end of period	$	38,616	$	1,457	$	40,073	$	39,173	$	1,417	$	40,590

	Nine Months Ended September 30,
(Millions of dollars)	2025						2024
Activity	Linde plc Shareholders’ Equity		Noncontrolling Interests		Total Equity		Linde plc Shareholders’ Equity		Noncontrolling Interests		Total Equity
Balance, beginning of period	$	38,092	$	1,383	$	39,475	$	39,720	$	1,362	$	41,082
Net income (a)	5,368		117		5,485		4,840		128		4,968
Other comprehensive income (loss)	485		22		507		(254)		4		(250)
Noncontrolling interests:
Additions (reductions)	(4)		34		30		—		10		10
Dividends and other capital changes	—		(99)		(99)		—		(87)		(87)

Dividends to Linde plc ordinary share holders ($4.50 per share in 2025 and $4.17 per share in 2024)	(2,113)		—		(2,113)		(1,996)		—		(1,996)
Issuances of ordinary shares:

For employee savings and incentive plans	(140)		—		(140)		(142)		—		(142)

Purchases of ordinary shares	(3,205)		—		(3,205)		(3,115)		—		(3,115)

Share-based compensation	133		—		133		120		—		120
Balance, end of period	$	38,616	$	1,457	$	40,073	$	39,173	$	1,417	$	40,590

(a)Net income for noncontrolling interests excludes net income related to redeemable noncontrolling interests which is not significant for the quarter and nine months ended September 30, 2025 and 2024 and which is not part of total equity.

Schedule of Components of Accumulated Other Comprehensive Income (Loss)

The components of Accumulated other comprehensive income (loss) are as follows:


(Millions of dollars)	September 30, 2025		December 31, 2024
Cumulative translation adjustment - net of taxes:
Americas	$	(3,920)	$	(4,422)
EMEA	(960)		(1,235)
APAC	(1,246)		(1,736)
Engineering	269		(432)
Other	(666)		858
	(6,523)		(6,967)
Derivatives - net of taxes	34		(6)

Pension / OPEB (net of tax obligations of $101 million and $95 million at September 30, 2025 and December 31, 2024, respectively)	80		79
	$	(6,409)	$	(6,894)