Company: LIN
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-007990
Chunk: 126

Company: LINDE PLC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 126
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 VarianceYear Ended December 31,202420232024 vs 2023Sales$1,257 $1,289 (2)%Operating profit$62 $43 44 %As a percent of sales4.9 %3.3 %

2024 vs 2023 % ChangeFactors Contributing to Changes - SalesVolume/Price(2)%Currency— %Acquisitions/Divestitures— %(2)%

Other consists of corporate costs and a few smaller businesses including: Linde Advanced Materials Technology ("LAMT") and global helium wholesale; which individually do not meet the quantitative thresholds for separate presentation. 

Sales 

Sales for Other decreased $32 million, or 2%, in 2024 versus 2023. Underlying sales decreased 2% in 2024 versus 2023 primarily due to lower volumes in global helium and LAMT. The impact of currency translation was flat in 2024 versus 2023.

Operating profit 

Operating profit in Other increased $19 million, or 44%, in 2024 versus 2023. The increase was driven by insurance recovery for LAMT partially offset by higher costs due to helium.

Currency

The results of Linde’s non-U.S. operations are translated to the company’s reporting currency, the U.S. dollar, from the functional currencies used in the countries in which the company operates. For most foreign operations, Linde uses the local currency as its functional currency. There is inherent variability and unpredictability in the relationship of these functional currencies to the U.S. dollar and such currency movements may materially impact Linde’s results of operations in any given period.

28

To help understand the reported results, the following is a summary of the significant currencies underlying Linde’s consolidated results and the exchange rates used to translate the financial statements (rates of exchange expressed in units of local currency per U.S. dollar):

  Percentage of 2024 Consolidated SalesExchange Rate for Statements of IncomeExchange Rate for Balance Sheet  Average Year Ended December 31, December 31,Currency2024202320242023Euro18 %0.92 0.92 0.97 0.92 Chinese yuan8 %7.20 7.08 7.30 7.10 British pound5 %0.78 0.80 0.80 0.79 Australian dollar4 %1.52