Company: LIN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021379
Chunk: 40

Company: LINDE PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 40
---
 $— $— * 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 March 31, 2025, the estimated fair value of Linde’s long-term debt portfolio was $17,965 million versus a carrying value of $19,432 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 the fair value are attributable to fluctuations in interest rates subsequent to when the debt was issued and relative to stated coupon rates.

13

6. Earnings Per Share - Linde plc Shareholders

Basic and diluted earnings per share is computed by dividing Net income – Linde plc for the period by the weighted average number of either basic or diluted shares outstanding, as follows: Quarter Ended March 31, 20252024Numerator (Millions of dollars)Net Income – Linde plc$1,673 $1,627 Denominator (Thousands of shares)Weighted average shares outstanding472,385 481,398 Shares earned and issuable under compensation plans918 551 Weighted average shares used in basic earnings per share473,303 481,949 Effect of dilutive securitiesStock options and awards2,959