Company: LIN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047710
Chunk: 67

Company: LINDE PLC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 67
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 not recur in 2025. The benefit related to the tax rate decrease in EMEA for the quarter and year-to-date periods was $156 million.

On an adjusted basis, the ETR for the quarter and nine months ended September 30, 2025 was 22.7% and 23.5%, respectively, versus 23.6% and 23.3% for the respective 2024 periods. The decrease in the quarter rate was primarily due to tax rate change in Germany excluding merger-related purchase accounting impacts. The increase in the year-to-date rate was primarily due to tax benefits from a repatriation in 2024 that did not recur in 2025 partially offset by a tax rate decrease in Germany.

On July 4, 2025, H.R.1 - One Big Beautiful Bill Act was enacted into law (OBBBA). The Bill makes permanent key elements of the 2017 Tax Cuts and Jobs Act, including 100% bonus depreciation and domestic research cost expensing. These changes provide current and future cash tax benefits to the company. The company continues to evaluate the impact of other provisions of OBBBA but does not expect them to be material.

Income from equity investments 

Reported income from equity investments for the third quarter and nine months ended September 30, 2025 was $36 million and $107 million, respectively, versus $38 million and $131 million for the respective 2024 periods. 

On an adjusted basis, income from equity investments for the third quarter and nine months ended September 30, 2025 was $60 million and $167 million, respectively, versus $56 million and $185 million for the respective 2024 periods. 

Noncontrolling interests 

At September 30, 2025, noncontrolling interests consisted primarily of non-controlling shareholders' investments in APAC (primarily China). Reported noncontrolling interests income was $43 million and $117 million for the third quarter of 2025 and nine months ended September 30, 2025, respectively. Noncontrolling interest was $53 million and $128 million for the respective 2024 periods, which included the impact of a divestiture in the APAC segment.

Net Income – Linde plc

Reported net income - Linde plc increased $379 million, or 24%, for the third quarter of 2025 and increased $528 million, or 11%, for the nine months ended September 30, 2025 versus