Company: LIN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021379
Chunk: 63

Company: LINDE PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 63
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1,954 INVESTING ACTIVITIESCapital expenditures(1,270)(1,048)Acquisitions, net of cash acquired(112)— Divestitures, net of cash divested and asset sales13 7 Net cash provided by (used for) investing activities$(1,369)$(1,041)FINANCING ACTIVITIESDebt increase (decrease) - net1,493 1,215 Issuances (purchases) of common stock - net(1,100)(1,025)Cash dividends - Linde plc shareholders(708)(669)Noncontrolling interest transactions and other(73)(189)Net cash provided by (used for) financing activities$(388)$(668)Effect of exchange rate changes on cash and cash equivalents$40 $(61)Cash and cash equivalents, end-of-period$5,294 $4,848 

Cash Flow from Operations

Cash provided by operations of $2,161 million for the three months ended March 31, 2025 increased $207 million, or 11% versus 2024. The increase was driven primarily by higher net income adjusted for non-cash charges and lower net working capital requirements.

Linde estimates that total 2025 required contributions to its pension plans will be in the range of approximately $25 million to  $35 million, of which $5 million has been made through March 31, 2025.

Investing

Net cash used for investing activities of $1,369 million for the three months ended March 31, 2025 increased $328 million versus 2024, due to higher capital expenditures and acquisition spend, net of cash acquired.

Capital expenditures for the three months ended March 31, 2025 were $1,270 million, $222 million higher than the prior year due primarily to investments in new plant and production equipment for backlog growth requirements.

At March 31, 2025, Linde's sale of gas backlog of large projects under construction was approximately $7.0 billion. This represents the total estimated capital cost of large plants under construction.

32

Acquisitions, net of cash acquired were $112 million for the three months ended March 31, 2025 and relate primarily to businesses in the Americas and APAC. 

Divestitures, net of cash divested and asset sales for the three months ended March 31, 2025 were $13 million. 2024 divestitures, net of cash