Company: LIN
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001628280-25-037164
Chunk: 89

Company: LINDE PLC
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 2
Chunk 89
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ance charges. On an adjusted basis, these costs have been excluded. There were no charges during the respective 2024 periods. 

Other income (expense) - net

Reported other income (expense) - net was a benefit of $15 million for the second quarter of 2025 and $33 million for the year-to-date period. 2024 other income (expense) for the year-to-date period included a benefit of $43 million in insurance recoveries primarily within the Other segment.

Operating profit 

On a reported basis, operating profit increased $170 million, or 8%, for the second quarter of 2025 and increased $259 million, or 6%, for the six months ended June 30, 2025. The increase in the quarter was primarily due to higher pricing and savings from productivity initiatives, which more than offset the adverse impacts of cost inflation and lower volumes.

On an adjusted basis, which excludes the impacts of merger-related purchase accounting as well as cost reduction programs and other charges, operating profit increased $134 million, or 6%, in the second quarter of 2025 and increased $231 million, or 5%, for the six months ended June 30, 2025. Operating profit growth was driven by higher pricing and productivity initiatives, which more than offset the effects of cost inflation and lower volumes during the quarter and year-to-date periods of 2025. A discussion of operating profit by segment is included in the segment discussion that follows.

Interest expense - net 

Reported interest expense - net decreased $3 million, or 4%, for the second quarter of 2025 and decreased $8 million, or 6%, for the six months ended June 30, 2025.

Net pension and OPEB cost (benefit), excluding service cost

Reported net pension and OPEB cost (benefit), excluding service cost, was a benefit of $59 million and $115 million for the quarter and six months ended June 30, 2025, respectively, versus $49 million and $99 million for the respective 2024 periods. The increase in the benefit primarily relates to lower interest cost due to lower benefit obligations and higher amortization of deferred gains year-over-year, partially offset by lower expected return on plan assets.

Effective tax rate

The reported effective tax rate ("ETR") for the quarter and six months ended June 30, 2025 was 24.4% and 24.0%, respectively, versus 23.5%