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Supplemental Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Supplemental Information [Abstract] |
Schedule of Selling General and Administrative |
(Millions of dollars) Year Ended December 31, | 2023 |  | 2022 |  | 2021
Selling, General and Administrative |  |  |  |  |
Selling | $ | 1,330 |  |  | $ | 1,295 |  |  | $ | 1,342 |
General and administrative | 1,965 |  |  | 1,812 |  |  | 1,847 |
| $ | 3,295 |  |  | $ | 3,107 |  |  | $ | 3,189 |
Schedule of Depreciation and Amortization |
Year Ended December 31, | 2023 |  | 2022 |  | 2021
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, | 2023 |  | 2022 |  | 2021
Other Income (Expenses) – Net |  |  |  |  |
Currency related net gains (losses) | $ | (47) |  |  | $ | (18) |  |  | $ | (29) |
Partnership income | 2 |  |  | 18 |  |  | 13 |
Severance expense | (12) |  |  | (13) |  |  | (5) |
Asset divestiture gains (losses) – net | 6 |  |  | (9) |  |  | (31) |
Other – net gains (losses) | 10 |  |  | (40) |  |  | 26 |
| $ | (41) |  |  | $ | (62) |  |  | $ | (26) |
Schedule of Interest Expense |
Year Ended December 31, | 2023 |  | 2022 |  | 2021
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, | 2023 |  | 2022
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, |  |  | 2023 |  | 2022
Inventories |  |  |  |  |
Raw materials and supplies |  |  | $ | 614 |  |  | $ | 567 |
Work in process |  |  | 390 |  |  | 368 |
Finished goods |  |  | 1,111 |  |  | 1,043 |
|  |  | $ | 2,115 |  |  | $ | 1,978 |
Schedule of Prepaid and Other Current Assets |
December 31, | 2023 |  | 2022
Prepaid and Other Current Assets |  |  |
Prepaid and other deferred charges (b) | $ | 583 |  |  | $ | 597 |
VAT recoverable | 178 |  |  | 225 |
Unrealized gains on derivatives (Note 12) | 73 |  |  | 24 |
Other | 93 |  |  | 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, | 2023 |  | 2022
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 |
Deposits | 76 |  |  | 52 |
Investments carried at cost (e) | 187 |  |  | 184 |
Deferred charges | 60 |  |  | 66 |
Deferred income taxes (Note 5) | 226 |  |  | 230 |
Unrealized gains on derivatives (Note 12) | 8 |  |  | 4 |
Other | 223 |  |  | 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, | 2023 |  | 2022
Other Current Liabilities |  |  |
Accrued expenses | $ | 1,494 |  |  | $ | 1,533 |
Payroll | 678 |  |  | 614 |
VAT payable | 253 |  |  | 259 |
Pension and postretirement (Note 16) | 31 |  |  | 51 |
Interest payable | 129 |  |  | 118 |
Lease liability (Note 4) | 227 |  |  | 223 |
Insurance reserves | 21 |  |  | 19 |
Unrealized losses on derivatives (Note 12) | 41 |  |  | 23 |
Cost reduction programs and other charges (Note 3) | 146 |  |  | 187 |
Other | 1,136 |  |  | 1,055 |
| $ | 4,156 |  |  | $ | 4,082 |
Schedule of Other Long-term Liabilities |
December 31, | 2023 |  | 2022
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 reserves | 54 |  |  | 52 |
Asset retirement obligation | 305 |  |  | 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, | 2023 |  | 2022
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, | 2023 |  | 2022
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) |
Other | 113 |  |  | 483 |
| (5,372) |  |  | (5,784) |
Derivatives – net of taxes | 7 |  |  | 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.

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