Company: LIN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021379
Chunk: 57

Company: LINDE PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 57
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ETR") for the three months ended March 31, 2025 was 23.4% versus 22.3% for the respective 2024 period. On an adjusted basis, the ETR for the first quarter was 23.5% versus 22.7% for the respective 2024 period. The increase in the reported and adjusted ETR was primarily due to lower tax benefits from share based compensation in 2025.

Income from equity investments 

Reported income from equity investments for the first quarter was $38 million versus $48 million for the respective 2024 period. 

On an adjusted basis, income from equity investments for the first quarter was $56 million versus $66 million for the respective 2024 period. 

Noncontrolling interests 

At March 31, 2025, noncontrolling interests consisted primarily of non-controlling shareholders' investments in APAC (primarily China). Reported noncontrolling interests income was $34 million for the first quarter of 2025 and $38 million for the respective 2024 period.

Net Income – Linde plc

Reported net income - Linde plc increased $46 million, or 3%, for the first quarter of 2025 versus the respective 2024 period. On an adjusted basis, which excludes the impacts of purchase accounting and cost reduction program and other charges, net income - Linde plc increased $59 million, or 3%, for the first quarter of 2025 versus the respective 2024 period. On both a reported and adjusted basis, the increase was driven by higher operating profit.

Diluted earnings per share 

Reported diluted earnings per share increased $0.16, or 5%, for the first quarter of 2025 versus the respective 2024 period. On an adjusted basis, diluted EPS increased $0.20 for the first quarter, or 5% versus the respective 2024 period. On both a reported and adjusted basis, the increase was primarily due to higher net income - Linde plc and lower diluted shares outstanding. 

Employees

The number of employees at March 31, 2025 was 65,069, a decrease of 1,126 employees from March 31, 2024 primarily due to the ongoing impact of cost reduction programs. 

Other Financial Data

EBITDA was $3,132 million for the first quarter of 2025 as compared to $3,092 million in the respective 2024 period.  Adjusted E