XML 30 R16.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Supplemental Information | 12 Months Ended
--- | ---
Dec. 31, 2023
Supplemental Information [Abstract] |
Supplemental Information | SUPPLEMENTAL INFORMATION Income Statement
(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 |
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 |
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) |
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 |
Balance Sheet
(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 |
Receivables Linde applies loss rates that are lifetime expected credit losses at initial recognition of the receivables. These expected loss rates are based on an analysis of the actual historical default rates for each business, taking regional circumstances into account. If necessary, these historical default rates are adjusted to reflect the impact of current changes in the macroeconomic environment using forward-looking information. The loss rates are also evaluated based on the expectations of the responsible management team regarding the collectability of the receivables. Gross trade receivables aged less than one year were $4,667 million and $4,498 million at December 31, 2023 and December 31, 2022, respectively, and gross receivables aged greater than one year were $354 million and $321 million at December 31, 2023 and December 31, 2022, respectively. Gross other receivables were $154 million and $145 million at December 31, 2023 and December 31, 2022, respectively. Receivables aged greater than one year are generally fully reserved unless specific circumstances warrant exceptions, such as those backed by federal governments. Provisions for expected credit losses were $175 million, $163 million and $129 million for the twelve months ended December 31, 2023, 2022 and 2021, respectively. The allowance activity in the twelve months ended December 31, 2023 related to write-offs of uncollectible amounts, net of recoveries and currency movements is not material.
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 |
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 |
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 |
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 |
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 |
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 |
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) |
(a)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. (b) Includes estimated income tax payments of $173 million in 2023 and $164 million in 2022. (c) Consists primarily of insurance contracts and other investments to be utilized for non-qualified pension and OPEB obligations. (d) 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. (e) Includes investments from the deconsolidation of Russian subsidiaries. (f) 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. (g) 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.

X
- Definition -- None. No documentation exists for this element. -- + References No definition available. + Details
Name: | lin_SupplementalInformationAbstract
Namespace Prefix: | lin_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosures of supplemental information, including descriptions and amounts, related to the balance sheet, income statement, and/or cash flow statement. + References No definition available. + Details
Name: | us-gaap_AdditionalFinancialInformationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration