Company: LIN
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047710
Chunk: 65

Company: LINDE PLC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 65
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10.4% of third quarter sales and 10.1% of sales for the nine months ended September 30, 2025 versus 9.8% and 10.2% of sales for the respective 2024 periods. Currency impact increased SG&A by approximately $12 million for the third quarter and was flat year to date 2025. Excluding foreign currency, SG&A increased during the third quarter of 2025 and nine months ended September 30, 2025, due to acquisitions and cost inflation, partially offset by savings from cost reduction programs and productivity initiatives. 

Depreciation and amortization

Reported depreciation and amortization expense was flat for the third quarter of 2025 and decreased $54 million, or 2%, in the nine months ended September 30, 2025, primarily due to lower depreciation and amortization of assets acquired in the merger, partially offset by the net impact of new project start-ups.

On an adjusted basis, depreciation and amortization increased $39 million, or 5%, for the third quarter of 2025 and increased $72 million, or 3%, for the nine months ended September 30, 2025. Currency impact increased depreciation and amortization by $9 million for the third quarter and was flat year to date 2025. Excluding currency, for the quarter and year-to-date periods, the underlying depreciation and amortization increase was driven largely by new project start-ups.

Cost reduction program and other charges

Cost reduction program and other charges were a benefit of $11 million for the third quarter of 2025, and charges of $44 million for the nine months ended September 30, 2025, primarily related to severance charges. On an adjusted basis, these costs have been excluded in both periods. 2024 included severance charges of $148 million and $165 million for the quarter and year to date periods, other cost reduction charges of $40 million and $23 million for the quarter and year to date periods, and other benefit of $43 million for the quarter and year to date periods related to a divestiture in APAC.

Other income (expense) - net

Reported other income (expense) - net was a benefit of $14 million for the third quarter of 2025 and $47 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,