Company: LIN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047710
Chunk: 20

Company: LINDE PLC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 20
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 are unobservable (for example cash flow modeling inputs based on assumptions)Assets and Liabilities Measured at Fair Value on a Recurring BasisThe following table summarizes assets and liabilities measured at fair value on a recurring basis: Fair Value Measurements Using Level 1Level 2Level 3(Millions of dollars)September 30,2025December 31,2024September 30,2025December 31,2024September 30,2025December 31,2024AssetsDerivative assets$— $— $106 $306 $— $— Investments and securities*20 16 — — 13 12 Total$20 $16 $106 $306 13 $12 LiabilitiesDerivative liabilities$— $— $138 $101 $— $— * Investments and securities are recorded in prepaid and other current assets and other long-term assets in the company's condensed consolidated balance sheet.Level 1 investments and securities are marketable securities traded on an exchange. Level 2 investments are based on market prices obtained from independent brokers or determined using quantitative models that use as their basis readily observable market parameters that are actively quoted and can be validated through external sources, including third-party pricing services, brokers and market transactions. Level 3 investments and securities consist of a venture fund. For the valuation, Linde uses the net asset value received as part of the fund's quarterly reporting, which for the most part is not based on quoted prices in active markets. In order to reflect current market conditions, Linde proportionally adjusts by observable market data (stock exchange prices) or current transaction prices.Changes in Level 3 investments and securities were immaterial.The fair value of cash and cash equivalents, short-term debt, accounts receivable-net, and accounts payable approximate carrying value because of the short-term maturities of these instruments. The fair value of long-term debt is estimated based on the quoted market prices for the same or similar issues. Long-term debt is categorized within Level 2 of the fair value hierarchy. At September 30, 2025, the estimated fair value of Linde’s long-term debt portfolio was $19,707 million versus a carrying value of $20,963 million. At December 31, 2024, the estimated fair value of Linde’s long-term debt portfolio was $16,234 million versus a carrying value of $17,400 million. Differences between the carrying value and