Company: LIN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047710
Chunk: 64

Company: LINDE PLC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 64
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% ChangeFactors Contributing to Changes - SalesVolume— %(1)%Price/Mix2 %2 %Cost pass-through— %— %Currency1 %— %Acquisitions/divestitures1 %1 %Engineering(1)%— %3 %2 %

Sales

Sales increased by 3% for the third quarter of 2025 and 2% for the nine months ended September 30, 2025, versus the respective 2024 periods. Higher price attainment increased sales by 2% in the quarter and nine months ended September 30, 2025. Acquisitions increased sales by 1% in the quarter and nine months ended September 30, 2025. Currency translation increased sales by 1% in the quarter, primarily driven by the strengthening of the Euro and British pound against the U.S. dollar. In the nine months ended September 30, 2025, currency translation impact on sales was flat. Cost pass-through was flat in both the quarter and nine months ended September 30, 2025. Volumes were flat in the quarter and decreased sales by 1% for the nine months ended September 30, 2025, as base volume declines were partially offset by new project start-ups. Engineering sales decreased by 1% in the quarter and was flat for the nine months ended September 30, 2025.

Cost of sales, exclusive of depreciation and amortization

Cost of sales, exclusive of depreciation and amortization, increased $23 million, or 1%, for the third quarter of 2025 primarily due to cost inflation, partially offset by productivity gains, and increased $19 million for the nine months ended September 30, 2025. Cost of sales, exclusive of depreciation and amortization, was 50.8% and 50.9% of sales for the third quarter and nine months ended September 30, 2025, respectively, versus 52.1% and 51.9% for the respective 2024 periods. The decrease as a percentage of sales in the quarter and year-to-date periods was primarily due to higher pricing and productivity gains.

26

Selling, general and administrative expenses

Selling, general and administrative expense ("SG&A") increased $74 million, or 9%, for the third quarter of 2025 and increased $30 million, or 1%, for the nine months ended September 30, 2025. SG&A was