Company: LIN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021379
Chunk: 83

Company: LINDE PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
Chunk 83
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 Sales of Equity Securities and Use of Proceeds.  

Cash dividends of $708 million increased $39 million from 2024 driven primarily by a 8% increase in quarterly dividends per share from $1.39 per share to $1.50 per share, partially offset by lower shares outstanding. Cash used for Noncontrolling interest transactions and other was $73 million for the three months ended March 31, 2025 versus cash used of  $189 million for the respective 2024 period primarily driven by lower cash requirements for financing related derivatives and withholding taxes related to share-based compensation arrangements.

The company continues to believe it has sufficient operating flexibility, cash, and funding sources to maintain adequate amounts of liquidity to meet its business needs around the world. The company maintains a $5 billion and a $1.5 billion unsecured and undrawn revolving credit agreement with no associated financial covenants. No borrowings were outstanding under the credit agreements as of March 31, 2025. The company does not anticipate any limitations on its ability to access the debt capital markets and/or other external funding sources and remains committed to its strong ratings from Moody’s and Standard & Poor’s.

Legal Proceedings

See Note 8 to the condensed consolidated financial statements.

33

NON-GAAP MEASURES AND RECONCILIATIONS

(Millions of dollars, except per share data)

The following non-GAAP measures are intended to supplement investors’ understanding of the company’s financial information by providing measures which investors, financial analysts and management use to help evaluate the company’s operating performance and liquidity.  Items which the company does not believe to be indicative of on-going business trends are excluded from these calculations so that investors can better evaluate and analyze historical and future business trends on a consistent basis.  Definitions of these non-GAAP measures may not be comparable to similar definitions used by other companies and are not a substitute for similar GAAP measures. 

Quarter Ended March 31,20252024Adjusted Operating Profit and Operating MarginReported operating profit$2,184 $2,095 Add: Cost reduction program and other charges55 — Add: Purchase accounting impacts - Linde AG (c)199 246 Total adjustments254 246 Adjusted operating profit$2,438 $2,341 Reported percentage change4 %Adjusted percentage change4 %Reported sales$8,112 $8,100 Reported operating margin26.9 %25.9 %