Company: LIN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047710
Chunk: 102

Company: LINDE PLC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 2
Chunk 102
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 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 supplement investors’ understanding of the company’s financial information by providing measures which investors, financial analysts and management use to help evaluate the company’s operating performance and liquidity.  Items which the company does not believe to be indicative of on-going business trends are excluded from these calculations so that investors can better evaluate and analyze historical and future business trends on a consistent basis.  Definitions of these non-GAAP measures may not be comparable to similar definitions used by other companies and are not a substitute for similar GAAP measures. 

Quarter Ended September 30,Nine Months Ended September 30,2025202420252024Adjusted Operating Profit and Operating MarginReported operating profit$2,367 $2,086 $6,905 $6,365 Add: Cost reduction program and other charges(11)145 44 145 Add: Purchase accounting impacts - Linde AG (c)202 246 603 730 Total adjustments191 391 647 875 Adjusted operating profit$2,558 $2,477 $7,552 $7,240 Reported percentage change13 %8 %Adjusted percentage change3 %4 %Reported sales$8,615 $8,356 $25,222 $24,723 Reported operating margin27.5 %25.0 %27.4 %25.7 %Adjusted operating margin29.7 %29.6 %29.9 %29.3 %Adjusted Depreciation and amortizationReported depreciation and amort