Company: LIN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047710
Chunk: 91

Company: LINDE PLC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 2
Chunk 91
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 $172 million for the quarter and nine months ended September 30, 2025, respectively, versus $45 million and $144 million for the respective 2024 periods. The increase in the benefit primarily relates to lower interest cost due to lower benefit obligations and higher amortization of deferred gains year-over-year.

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Effective tax rate

The reported effective tax rate ("ETR") for the quarter and nine months ended September 30, 2025 was 18.0% and 21.9%, respectively, versus 24.1% and 23.3% for the respective 2024 periods. The decrease in the 2025 quarter was primarily due to a tax rate decrease in EMEA including merger-related purchase accounting impacts. The decrease in the year-to-date rate was primarily due to a tax rate decrease in EMEA, partially offset by tax benefits in 2024 from a repatriation that did 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