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Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The table below presents sales and operating profit information about reportable segments and Other for the three months ended March 31, 2025 and 2024.

(Millions of dollars)						Americas						EMEA						APAC						Engineering						Other						Total
2025
Sales (a)						$	3,666					$	2,031					$	1,539					$	565					$	311					$	8,112
Variable Costs (b)						1,395						721						748						215						114						3,193
Fixed Costs and other (c)						767						429						178						228						160						1,762
Depreciation and amortization (d)						367						159						162						8						23						719
Operating Profit (e)						$	1,137					$	722					$	451					$	114					$	14					$	2,438
2024
Sales (a)						$	3,560					$	2,091					$	1,591					$	539					$	319					$	8,100
Variable Costs (b)						1,324						798						792						188						109						3,211
Fixed Costs and other (c)						790						447						190						243						169						1,839
Depreciation and amortization (d)						358						159						162						8						22						709
Operating Profit (e)						$	1,088					$	687					$	447					$	100					$	19					$	2,341

(a)Sales reflect external sales only. Intersegment sales from Engineering to the industrial gases segments, were $601 million and $391 million for the three months ended March 31, 2025 and 2024, respectively. Intersegment sales from Helium, were $112 million and $123 million for the three months ended March 31, 2025 and 2024, respectively.

(b)Variable costs represents the variable portion of cost of sales, exclusive of depreciation and amortization.

(c)Fixed costs and other represents the fixed portion of cost of sales, exclusive of depreciation and amortization, selling, general and administrative, research and development and other income (expenses) - net.

(d)Refer to reconciliation of depreciation and amortization to consolidated results below.

(e)Refer to reconciliation of operating profit to consolidated results below.

Reconciliations to Consolidated Results

Depreciation and Amortization

The table below reconciles total depreciation and amortization disclosed in the table above to consolidated depreciation and amortization as reflected on our consolidated statement of income:

						Quarter Ended March 31,
(Millions of dollars)						2025						2024
Total segment depreciation and amortization						$	719					$	709
Purchase accounting impacts - Linde AG						191						240
Total depreciation and amortization						$	910					$	949

Income Before Income Taxes and Equity Investments

The table below reconciles total operating profit disclosed in the table above to consolidated income before income taxes and equity investments as reflected on our consolidated statement of income:

						Quarter Ended March 31,
						2025						2024
Total segment operating profit						$	2,438					$	2,341
Cost reduction program and other charges						55						—
Purchase accounting impacts - Linde AG						199						246
Total operating profit						2,184						2,095
Interest expense - net						60						65
Net pension and OPEB cost (benefit), excluding service cost						(56)						(50)
Total consolidated income before income taxes and equity investments						$	2,180					$	2,080

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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