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Equity (Tables) | 9 Months Ended
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Sep. 30, 2020
Equity And Noncontrolling Interests Disclosure [Abstract] |
Summary of Changes in Total Equity | A summary of the changes in total equity for the quarter and nine months ended September 30, 2020 and 2019 is provided below:
| Quarter Ended September 30,
(Millions of dollars) | 2020 |  | 2019
Activity | Linde plc Shareholders’ Equity |  | Noncontrolling Interests |  | Total Equity |  | Linde plc Shareholders’ Equity |  | Noncontrolling Interests |  | Total Equity
Balance, beginning of period | $ | 45,537 |  |  | $ | 2,387 |  |  | $ | 47,924 |  |  | $ | 50,564 |  |  | $ | 2,315 |  |  | $ | 52,879 |
Net income (b) | 700 |  |  | 31 |  |  | 731 |  |  | 735 |  |  | 2 |  |  | 737 |
Other comprehensive income (loss) | 648 |  |  | 40 |  |  | 688 |  |  | (1,223) |  |  | (50) |  |  | (1,273) |
Noncontrolling interests: |  |  |  |  |  |  |  |  |  |  |
Additions (reductions) | — |  |  | 11 |  |  | 11 |  |  | — |  |  | 113 |  |  | 113 |
Dividends and other capital changes | — |  |  | (65) |  |  | (65) |  |  | — |  |  | (39) |  |  | (39) |
Dividends to Linde plc ordinary share holders ($0.963 per share in 2020 and $0.875 per share in 2019) | (506) |  |  | — |  |  | (506) |  |  | (471) |  |  | — |  |  | (471) |
Issuances of common stock: |  |  |  |  |  |  |  |  |  |  |
For employee savings and incentive plans | (20) |  |  | — |  |  | (20) |  |  | 5 |  |  | — |  |  | 5 |
Purchases of common stock | (213) |  |  | — |  |  | (213) |  |  | (683) |  |  | — |  |  | (683) |
Share-based compensation | 29 |  |  | — |  |  | 29 |  |  | 26 |  |  | — |  |  | 26 |
Balance, end of period | $ | 46,175 |  |  | $ | 2,404 |  |  | $ | 48,579 |  |  | $ | 48,953 |  |  | $ | 2,341 |  |  | $ | 51,294 |
| Nine Months Ended September 30,
(Millions of dollars) | 2020 |  | 2019
Activity | Linde plc Shareholders’ Equity |  | Noncontrolling Interests |  | Total Equity |  | Linde plc Shareholders’ Equity |  | Noncontrolling Interests (a) |  | Total Equity
Balance, beginning of period (a) | $ | 49,074 |  |  | $ | 2,448 |  |  | $ | 51,522 |  |  | $ | 51,596 |  |  | $ | 5,484 |  |  | $ | 57,080 |
Net income (b) | 1,731 |  |  | 91 |  |  | 1,822 |  |  | 1,774 |  |  | 67 |  |  | 1,841 |
Other comprehensive income (loss) | (1,159) |  |  | (48) |  |  | (1,207) |  |  | (1,144) |  |  | (138) |  |  | (1,282) |
Noncontrolling interests: |  |  |  |  |  |  |  |  |  |  |
Additions (reductions) | — |  |  | 26 |  |  | 26 |  |  | — |  |  | (2,953) |  |  | (2,953) |
Dividends and other capital changes | — |  |  | (113) |  |  | (113) |  |  | — |  |  | (119) |  |  | (119) |
Dividends to Linde plc ordinary share holders ($2.889 per share in 2020 and $2.625 per share in 2019) | (1,523) |  |  | — |  |  | (1,523) |  |  | (1,422) |  |  | — |  |  | (1,422) |
Issuances of common stock: |  |  |  |  |  |  |  |  |  |  |
For employee savings and incentive plans | (28) |  |  | — |  |  | (28) |  |  | (2) |  |  | — |  |  | (2) |
Purchases of common stock | (2,024) |  |  | — |  |  | (2,024) |  |  | (1,913) |  |  | — |  |  | (1,913) |
Share-based compensation | 104 |  |  | — |  |  | 104 |  |  | 64 |  |  | — |  |  | 64 |
Balance, end of period | $ | 46,175 |  |  | $ | 2,404 |  |  | $ | 48,579 |  |  | $ | 48,953 |  |  | $ | 2,341 |  |  | $ | 51,294 |
(a) As of the beginning of the nine months ended September 30, 2019, noncontrolling interests included approximately $3.2 billion relating to the 8% of Linde AG shares which were not tendered in the Exchange Offer and were the subject of a cash-merger squeeze-out completed on April 8, 2019. (b) Net income for noncontrolling interests excludes net income related to redeemable noncontrolling interests which is not significant for the quarters and nine months ended September 30, 2020 and September 30, 2019 which is not part of total equity.
Summary of Components of AOCI | The components of AOCI are as follows:
| September 30, |  | December 31,
(Millions of dollars) | 2020 |  | 2019
Cumulative translation adjustment - net of taxes: |  |  |
Americas | $ | (4,070) |  |  | $ | (3,357) |
EMEA | (168) |  |  | (136) |
APAC | (80) |  |  | (140) |
Engineering | 150 |  |  | (29) |
Other | (432) |  |  | 282 |
| (4,600) |  |  | (3,380) |
Derivatives - net of taxes | (13) |  |  | (27) |
Pension / OPEB (net of $420 million and $446 million tax benefit in September 30, 2020 and December 31, 2019, respectively) | (1,360) |  |  | (1,407) |
| $ | (5,973) |  |  | $ | (4,814) |

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