Company: LIN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047710
Chunk: 77

Company: LINDE PLC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 77
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 outflows of $95 million and relate to the cash settlement of foreign exchange contracts designated in a net investment hedging relationship.

Financing

Cash used for financing activities was $3,536 million for the nine months ended September 30, 2025 as compared to $2,749 million for the nine months ended September 30, 2024. Cash provided by debt was $1,917 million in 2025 versus $2,628 million in 2024, driven primarily by lower net debt issuances in 2025 partially offset by higher commercial paper issuances. For the nine months ended September 30, 2025, Linde issued €2,250 million Euro-denominated notes and CHF500 million Swiss-franc denominated notes and redeemed or repaid $1,000 million U.S. dollar-denominated notes and €500 million Euro denominated notes.

Net purchases of ordinary shares were $3,191 million in 2025 versus $3,120 million in 2024.  For additional information related to the share repurchase programs, see Part II Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.  

Cash dividends of $2,113 million increased $117 million from 2024 driven primarily by a 8% increase in quarterly dividends per share from $1.39 per share to $1.50 per share, partially offset by lower shares outstanding. Cash used for Noncontrolling interest transactions and other was $149 million for the nine months ended September 30, 2025 versus cash used of $261 million for the respective 2024 period, driven by higher cash inflows from financing related derivatives.

The company continues to believe it has sufficient operating flexibility, cash, and funding sources to maintain adequate amounts of liquidity to meet its business needs around the world. The company maintains a $5 billion and a $1.5 billion unsecured and undrawn revolving credit agreement with no associated financial covenants. No borrowings were outstanding under the credit agreements as of September 30, 2025. The company does not anticipate any limitations on its ability to access the debt capital markets and/or other external funding sources and remains committed to its strong ratings from Moody’s and Standard & Poor’s.

Legal Proceedings

See Note 8 to the condensed consolidated financial statements.

35

NON-GAAP MEASURES AND RECONCILIATIONS

(Millions of dollars, except per share data)

The following non-GAAP measures are intended to