Company: LIN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047710
Chunk: 90

Company: LINDE PLC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 2
Chunk 90
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 2025, and charges of $44 million for the nine months ended September 30, 2025, primarily related to severance charges. On an adjusted basis, these costs have been excluded in both periods. 2024 included severance charges of $148 million and $165 million for the quarter and year to date periods, other cost reduction charges of $40 million and $23 million for the quarter and year to date periods, and other benefit of $43 million for the quarter and year to date periods related to a divestiture in APAC.

Other income (expense) - net

Reported other income (expense) - net was a benefit of $14 million for the third quarter of 2025 and $47 million for the year-to-date period. 2024 other income (expense) for the year-to-date period included a benefit of $43 million in insurance recoveries primarily within the Other segment, recognized during the first quarter, and a benefit of $36 million related to a settlement with a supplier in the Americas segment, recognized during the third quarter.

Operating profit 

On a reported basis, operating profit increased $281 million, or 13%, for the third quarter of 2025 and increased $540 million, or 8%, for the nine months ended September 30, 2025. The increase in both periods was primarily due to higher pricing and savings from productivity initiatives and lower cost reduction program and other charges, which more than offset the adverse impacts of cost inflation.

On an adjusted basis, which excludes the impacts of merger-related purchase accounting as well as cost reduction programs and other charges, operating profit increased $81 million, or 3%, in the third quarter of 2025 and increased $312 million, or 4%, for the nine months ended September 30, 2025. Operating profit growth was driven by higher pricing and productivity initiatives, which more than offset the effects of cost inflation during the quarter and year-to-date periods of 2025. A discussion of operating profit by segment is included in the segment discussion that follows.

Interest expense - net 

Reported interest expense - net decreased $4 million, or 6%, for the third quarter of 2025 and decreased $12 million, or 6%, for the nine months ended September 30, 2025.

Net pension and OPEB cost (benefit), excluding service cost

Reported net pension and OPEB cost (benefit), excluding service cost, was a benefit of $57 million and