Company: LIN
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-007990
Chunk: 115

Company: LINDE PLC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 115
---
 8 %Diluted shares outstanding482,092 492,290 (2)%Number of employees65,289 66,323 (2)%Adjusted Amounts (b)Operating profit$9,720 $9,070 7 %Operating margin29.5 %27.6 %Net Income – Linde plc$7,475 $6,989 7 %Diluted earnings per share$15.51 $14.20 9 %Other Financial Data (b)EBITDA$12,585 $12,007 5 %As percent of sales38.1 %36.5 %Adjusted EBITDA$12,819 $12,133 6 %As percent of sales38.8 %36.9 %

________________________

(a)See Note 3 to the consolidated financial statements.

(b)Adjusted amounts and Other Financial Data are non-GAAP performance measures. A reconciliation of reported amounts to adjusted amounts can be found in the "Non-GAAP Financial Measures" section of this MD&A.  

19

Results of Operations

The following table provides a summary of changes in consolidated sales:

2024 vs 2023 % ChangeFactors Contributing to Changes - SalesVolume— %Price/Mix2 %Cost pass-through(1)%Currency(1)%Acquisitions/Divestitures— %Engineering— %— %

2024 Compared With 2023 

Sales

Linde sales were flat for the 2024 year versus 2023.  Sales grew 2%  from higher price attainment. Volumes were flat, as new project start-ups were largely offset by base volume declines.  Cost pass-through, representing the contractual billing of energy cost variances primarily to onsite customers decreased sales by 1%, with minimal impact on operating profit. Currency translation decreased sales by 1%, primarily due to the weakening of the Brazilian real, Chinese yuan, and Mexican peso against the U.S. dollar. 

Cost of sales, exclusive of depreciation and amortization

Cost of sales, exclusive of depreciation and amortization, decreased $349 million, or 2%, for the year primarily due to lower cost pass-through and productivity gains, which more than offset cost inflation. Cost of sales, exclusive of depreciation and amortization, was 51.9% and 53.2% of sales, in 2024 and 2023, respectively. The decrease as a percentage of sales