Company: LIN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021379
Chunk: 58

Company: LINDE PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 58
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BITDA increased to $3,213 million for the first quarter 2025 from $3,116 million in the respective 2024 period. On a reported and adjusted basis, the increase was driven by higher operating profit versus prior year.

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See the "Non-GAAP Measures and Reconciliations" section for definitions and reconciliations of these adjusted non-GAAP measures to reported GAAP amounts.

Other Comprehensive Income (Loss)

Other comprehensive income for the first quarter of 2025 was $131 million. The income in the quarter resulted primarily from currency translation adjustments of $134 million. The translation adjustments reflect the impact of translating local currency foreign subsidiary financial statements to U.S. dollars, and are largely driven by the movement of the U.S. dollar against major currencies including the Euro, British pound and the Chinese yuan. See the "Currency" section of the MD&A for exchange rates used for translation purposes and Note 10 to the condensed consolidated financial statements for a summary of the currency translation adjustment component of accumulated other comprehensive income (loss) by segment.

Segment Discussion

The following summary of sales and operating profit by segment provides a basis for the discussion that follows. Linde plc evaluates the performance of its reportable segments based on operating profit, excluding items not indicative of ongoing business trends. The reported amounts are GAAP amounts from the Consolidated Statement of Income.

Quarter Ended March 31,(Millions of dollars)20252024VarianceSALESAmericas$3,666 $3,560 3 %EMEA2,031 2,091 (3)%APAC1,539 1,591 (3)%Engineering565 539 5 %Other311 319 (3)%Total sales$8,112 $8,100 — %SEGMENT OPERATING PROFITAmericas$1,137 $1,088 5 %EMEA722 687 5 %APAC451 447 1 %Engineering114 100 14 %Other14 19 (26)%Segment operating profit$2,438 $2,341 4 %Reconciliation to reported operating profit:Cost reduction program and other charges(55)— Purchase accounting impacts - Linde AG(199)(246)Total operating profit$2,184 $2,095 

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Americas

 Quarter Ended March 31,(Millions of dollars)20252024VarianceSales$3