Company: LIN
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-007990
Chunk: 22

Company: LINDE PLC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 22
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782 $204 

NOTE 5. INCOME TAXES

Pre-tax income applicable to U.S. and non-U.S. operations is as follows: (Millions of dollars)Year Ended December 31,202420232022United States$2,717 $2,859 $2,502 Non-U.S. 5,852 5,129 3,041 Total income before income taxes$8,569 $7,988 $5,543 Provision for Income TaxesThe following is an analysis of the provision for income taxes: (Millions of dollars)Year Ended December 31,202420232022Current tax expense (benefit)U.S. federal$504 $291 $486 State and local106 116 92 Non-U.S.1,534 1,491 1,239 2,144 1,898 1,817 Deferred tax expense (benefit)U.S. federal3 57 (12)State and local11 5 7 Non-U.S.(156)(146)(378)(142)(84)(383)Total income taxes$2,002 $1,814 $1,434 Effective Tax Rate ReconciliationLinde plc is not subject to tax in Ireland, its country of domicile. For purposes of the effective tax rate reconciliation, the company utilizes the U.S. statutory income tax rate of 21%. An analysis of the difference between the provision for income taxes and the amount computed by applying the U.S. statutory income tax rate to pre-tax income follows: 

57

(Dollar amounts in millions)Year Ended December 31,202420232022U.S. statutory income tax$1,800 21.0 %$1,677 21.0 %$1,164 21.0 %State and local taxes – net of federal benefit102 1.2 %105 1.3 %84 1.5 %Tax on Non-U.S. activities (a)(b)186 2.2 %169 2.1 %176 3.2 %Share-Based compensation(66)(0.8)%(66)(0.8)%(41)(0.7)%Russia charges (Note 3)— — %— — %108 1.9 %Other (c)(20)(0.2)%(71)(0.9