Company: LIN
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-007990
Chunk: 45

Company: LINDE PLC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 45
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choles Options-Pricing model. The increase in the grant date fair value year-over-year is primarily attributable to the increase in the stock price. The following weighted-average assumptions were used to value the grants in 2024, 2023 and 2022: 

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Year Ended December 31,202420232022Dividend yield1.2 %1.4 %1.7 %Volatility22.5 %22.0 %20.6 %Risk-free interest rate4.01 %4.23 %1.70 %Expected term years555The following table summarizes option activity under the plans as of December 31, 2024 and changes during the period then ended (averages are calculated on a weighted basis; life in years; intrinsic value expressed in millions): ActivityNumber  ofOptions(000’s)AverageExercisePriceAverageRemainingLifeAggregateIntrinsicValueOutstanding at January 1, 20245,825 $180.58 Granted310 465.27 Exercised(1,085)146.21 Cancelled or expired(27)397.03 Outstanding at December 31, 20245,023 $204.50 4.6$1,090 Exercisable at December 31, 20244,356 $176.78 4.0$1,054 The aggregate intrinsic value represents the difference between the company’s closing stock price of $418.67 as of December 31, 2024 and the exercise price multiplied by the number of in the money options outstanding as of that date. The total intrinsic value of stock options exercised during 2024 was $327 million ($283 million and $176 million in 2023 and 2022, respectively).Cash received from option exercises under all share-based payment arrangements for 2024 was $31 million ($33 million and $36 million in 2023 and 2022, respectively). The cash tax benefit realized from share-based compensation totaled $89 million for 2024 ($86 million and $61 million cash tax benefit in 2023 and 2022, respectively). As of December 31, 2024, $21 million of unrecognized compensation cost related to non-vested stock options is expected to be recognized over a weighted-average period of approximately 1 year.Performance-Based and Restricted Stock Unit AwardsIn 2024, the company granted 301,358 performance-based stock unit awards under