← Filings of LIN
Tables in the 10-K of LINDE PLC
133 tables with numbers, filed Mar 18, 2019. Each one downloads as a CSV for Excel or
Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed.
Open the filing on sec.gov ↗
| | Page |
| Part I | | |
| Item 1: | Business | 4 |
| Item 1A: | Risk Factors | 9 |
| Item 1B: | Unresolved Staff Comments | 16 |
| Item 2: | Properties | 16 |
| Item 3: | Legal Proceedings | 17 |
| Item 4: | Mine Safety Disclosures | 17 |
First 8 of 27 rows. The CSV has all of them.
| Period | TotalNumber ofSharesPurchased(Thousands) | AveragePrice PaidPer Share | | Total Number ofShares Purchased asPart of PubliclyAnnouncedProgram (1)(Thousands) | Approximate DollarValue of Shares thatMay Yet be PurchasedUnder the Program (2)(Millions) | |
| October 2018 | — | | $— | | — | $— |
| November 2018 | — | | $— | | — | $— |
| December 2018 | 4,069 | | $154.48 | | 4,069 | $371 |
| Fourth Quarter 2018 | 4,069 | | $154.48 | | 4,069 | $371 |
Table 3 after “The graph below compares the most recent five-year cumulative returns of the common stock of Praxair, the company's predecessor, through Oct”
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| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
| LIN | $100 | $102 | $83 | $97 | $132 | $136 |
| SPX | $100 | $114 | $115 | $129 | $157 | $149 |
| S5MATR | $100 | $107 | $98 | $115 | $143 | $121 |
Table 4 after “The year ended December 31, 2018 reflects the results of Praxair for the entire year and the results of Linde AG for the period beginning af”
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| Year Ended December 31, | 2018(a) | 2017(a) | | 2016(a) | 2015(a) | 2014(a) | | |
| From the Consolidated Statements of Income | | | | | | | | |
| Sales | $14,900 | | $11,437 | | $10,534 | | $10,776 | $12,273 |
| Cost of sales, exclusive of depreciation and amortization | 9,084 | | 6,461 | | 5,855 | | 5,918 | 6,933 |
| Selling, general and administrative | 1,629 | | 1,207 | | 1,145 | | 1,152 | 1,308 |
| Depreciation and amortization | 1,830 | | 1,184 | | 1,122 | | 1,106 | 1,170 |
| Research and development | 113 | | 93 | | 92 | | 93 | 96 |
| Transaction costs and other charges | 309 | | 52 | | 96 | | 165 | 131 |
First 8 of 39 rows. The CSV has all of them.
Table 5 after “The following discussion of the company’s financial condition and results of operations should be read together with its consolidated financ”
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| Page |
| Merger of Praxair and Linde AG | 22 |
| Business Overview | 23 |
| Executive Summary – Financial Results & Outlook | 24 |
| Consolidated Results and Other Information | 25 |
| Segment Discussion | 35 |
| Liquidity, Capital Resources and Other Financial Data | 46 |
| Contractual Obligations | 49 |
First 8 of 13 rows. The CSV has all of them.
| | | | | Variance | | | |
| (Dollar amounts in millions, except per share data)Year Ended December 31, | 2018 | 2017 (d) | | 2016 (d) | 2018 vs. 2017 | 2017 vs. 2016 | | |
| Reported Amounts | | | | | | | | |
| Sales | $14,900 | | $11,437 | | $10,534 | | 30% | 9% |
| Cost of sales, exclusive of depreciation and amortization | $9,084 | | $6,461 | | $5,855 | | 41% | 10% |
| Gross margin (a) | $5,816 | | $4,976 | | $4,679 | | 17% | 6% |
| As a percent of sales | 39.0% | | 43.5% | | 44.4% | | | |
| Selling, general and administrative | $1,629 | | $1,207 | | $1,145 | | 35% | 5% |
First 8 of 38 rows. The CSV has all of them.
Table 7 after “The following table provides a summary of changes in consolidated sales and adjusted operating profit:”
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| 2018 vs. 2017 | 2017 vs. 2016 | | | | |
| % Change | % Change | | | | |
| Sales | Operating Profit | | Sales | Operating Profit | |
| Factors Contributing to Changes | | | | | | |
| Volume | 4% | | 5% | | 5% | 8% |
| Price/Mix | 2% | | 9% | | 1% | 5% |
| Cost pass-through | 1% | | —% | | 2% | —% |
| Currency | (1)% | | —% | | 1% | 1% |
First 8 of 19 rows. The CSV has all of them.
| % of Sales* | % Change* | | | | | | |
| 2018 | 2017 | | 2016 | 2018 vs. 2017 | 2017 vs. 2016 | | |
| Sales by End-Markets | | | | | | | | |
| Manufacturing | 22% | | 22% | | 23% | | 7% | 4% |
| Metals | 17% | | 17% | | 17% | | 7% | 7% |
| Energy | 11% | | 12% | | 12% | | 6% | 5% |
| Chemicals | 11% | | 10% | | 10% | | 14% | 9% |
| Electronics | 9% | | 9% | | 8% | | 8% | 13% |
First 8 of 13 rows. The CSV has all of them.
Table 9 after “* Percentage of sales information excludes Linde AG. Percentage change information excludes impact of currency, natural gas/precious metals ”
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| % of Sales* | | | | |
| 2018 | 2017 | | 2016 | |
| Sales by Distribution Method | | | | | |
| On-Site | 28% | | 30% | | 29% |
| Merchant | 31% | | 34% | | 35% |
| Packaged Gas | 30% | | 27% | | 28% |
| Other | 11% | | 9% | | 8% |
| 100% | | 100% | | 100% |
Table 10 after “The following summary of sales and operating profit by segment provides a basis for the discussion that follows (for additional information ”
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| (Dollar amounts in millions)Year Ended December 31, | | | Variance | | | | | | |
| 2018 | | 2017 | | 2016 | 2018 vs. 2017 | | 2017 vs. 2016 | | |
| Sales | | | | | | | | | |
| North America | $6,420 | | | $6,023 | | $5,592 | | 7% | 8% |
| Europe | 1,592 | | | 1,558 | | 1,392 | | 2% | 12% |
| South America | 1,369 | | | 1,501 | | 1,399 | | (9)% | 7% |
| Asia | 1,964 | | | 1,738 | | 1,555 | | 13% | 12% |
| Surface Technologies | 682 | | | 617 | | 596 | | 11% | 4% |
First 8 of 22 rows. The CSV has all of them.
| (Dollar amounts in millions)Year Ended December 31, | | | Variance | | | | | | |
| 2018 | | 2017 | | 2016 | 2018 vs. 2017 | | 2017 vs. 2016 | | |
| Sales | $6,420 | | | $6,023 | | $5,592 | | 7% | 8% |
| Cost of sales, exclusive of depreciation and amortization | 3,395 | | | 3,167 | | 2,871 | | | |
| Gross margin | 3,025 | | | 2,856 | | 2,721 | | | |
| Operating expenses | 717 | | | 708 | | 676 | | | |
| Depreciation and amortization | 660 | | | 631 | | 614 | | | |
| Operating profit | $1,648 | | | $1,517 | | $1,431 | | 9% | 6% |
First 8 of 9 rows. The CSV has all of them.
| 2018 vs. 2017 | 2017 vs. 2016 | | | | | | |
| % Change | % Change | | | | | | |
| Sales | Operating Profit | | Sales | Operating Profit | | | |
| Factors Contributing to Changes | | | | | | | | |
| Volume | 4% | | 6% | | 4% | | 8% | |
| Price/Mix | 2% | — | | 8% | | 2% | | 5% |
| Cost pass-through | 1% | | —% | | 2% | | —% | |
| Currency | —% | | —% | | —% | | —% | |
First 8 of 11 rows. The CSV has all of them.
Table 13 after “The following tables provide sales by end-market and distribution method:”
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| % of Sales | % Change* | | | | | | |
| 2018 | 2017 | | 2016 | 2018 vs. 2017 | 2017 vs. 2016 | | |
| Sales by End-Markets | | | | | | | | |
| Manufacturing | 29% | | 29% | | 29% | | 8% | 4% |
| Metals | 11% | | 12% | | 12% | | 5% | 7% |
| Energy | 17% | | 18% | | 17% | | (1)% | 7% |
| Chemicals | 11% | | 9% | | 9% | | 25% | 5% |
| Electronics | 5% | | 5% | | 5% | | 3% | 17% |
First 8 of 13 rows. The CSV has all of them.
| % of Sales | | | | |
| 2018 | 2017 | | 2016 | |
| Sales by Distribution Method | | | | | |
| On-Site | 30% | | 30% | | 28% |
| Merchant | 37% | | 37% | | 38% |
| Packaged Gas | 31% | | 31% | | 31% |
| Other | 2% | | 2% | | 3% |
| 100% | | 100% | | 100% |
| (Dollar amounts in millions)Year Ended December 31, | | | Variance | | | | | | |
| 2018 | | 2017 | | 2016 | 2018 vs. 2017 | | 2017 vs. 2016 | | |
| Sales | $1,592 | | | $1,558 | | $1,392 | | 2% | 12% |
| Cost of sales, exclusive of depreciation and amortization | 940 | | | 889 | | 774 | | | |
| Gross margin | 652 | | | 669 | | 618 | | | |
| Operating expenses | 190 | | | 199 | | 189 | | | |
| Depreciation and amortization | 146 | | | 169 | | 155 | | | |
| Operating profit | $316 | | | $301 | | $274 | | 5% | 10% |
First 8 of 9 rows. The CSV has all of them.
| 2018 vs. 2017 | 2017 vs. 2016 | | | | |
| % Change | % Change | | | | |
| Sales | Operating Profit | | Sales | Operating Profit | |
| Factors Contributing to Changes | | | | | | |
| Volume | 1% | | 1% | | 5% | 8% |
| Price/Mix | 2% | | 9% | | 1% | 3% |
| Cost pass-through | 2% | | —% | | 1% | —% |
| Currency | 4% | | 5% | | 2% | 2% |
First 8 of 11 rows. The CSV has all of them.
Table 17 after “The following tables provide sales by end-market and distribution method:”
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| % of Sales | % Change* | | | | | | |
| 2018 | 2017 | | 2016 | 2018 vs. 2017 | 2017 vs. 2016 | | |
| Sales by End-Markets | | | | | | | | |
| Manufacturing | 20% | | 20% | | 21% | | 5% | 4% |
| Metals | 17% | | 16% | | 16% | | 8% | 9% |
| Energy | 4% | | 5% | | 5% | | (4)% | 1% |
| Chemicals | 12% | | 12% | | 14% | | 6% | 7% |
| Electronics | 7% | | 7% | | 7% | | 2% | 7% |
First 8 of 13 rows. The CSV has all of them.
Table 18 after “* Excludes impact of currency, natural gas/precious metals cost pass-through and acquisitions/divestitures.”
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| % of Sales | | | | |
| 2018 | 2017 | | 2016 | |
| Sales by Distribution Method | | | | | |
| On-Site | 18% | | 18% | | 19% |
| Merchant | 34% | | 35% | | 35% |
| Packaged Gas | 43% | | 42% | | 42% |
| Other | 5% | | 5% | | 4% |
| 100% | | 100% | | 100% |
| (Dollar amounts in millions)Year Ended December 31, | | | Variance | | | | | | |
| 2018 | | 2017 | | 2016 | 2018 vs. 2017 | | 2017 vs. 2016 | | |
| Sales | $1,369 | | | $1,501 | | $1,399 | | (9)% | 7% |
| Cost of sales, exclusive of depreciation and amortization | 819 | | | 905 | | 822 | | | |
| Gross margin | 550 | | | 596 | | 577 | | | |
| Operating expenses | 187 | | | 198 | | 181 | | | |
| Depreciation and amortization | 148 | | | 159 | | 133 | | | |
| Operating profit | $215 | | | $239 | | $263 | | (10)% | (9)% |
First 8 of 9 rows. The CSV has all of them.
| 2018 vs. 2017 | 2017 vs. 2016 | | | | |
| % Change | % Change | | | | |
| Sales | Operating Profit | | Sales | Operating Profit | |
| Factors Contributing to Changes | | | | | | |
| Volume | 1% | | (5)% | | —% | (2)% |
| Price/Mix | 2% | | 12% | | 1% | 3% |
| Cost pass-through | —% | | —% | | —% | —% |
| Currency | (12)% | | (18)% | | 6% | 4% |
First 8 of 11 rows. The CSV has all of them.
Table 21 after “The following tables provide sales by end-market and distribution method:”
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| % of Sales | % Change* | | | | | | |
| 2018 | 2017 | | 2016 | 2018 vs. 2017 | 2017 vs. 2016 | | |
| Sales by End-Markets | | | | | | | | |
| Manufacturing | 15% | | 17% | | 18% | | (5)% | (2)% |
| Metals | 32% | | 31% | | 31% | | 4% | 1% |
| Energy | 2% | | 2% | | 2% | | 1% | 23% |
| Chemicals | 10% | | 10% | | 9% | | 7% | 8% |
| Electronics | —% | | —% | | —% | | —% | —% |
First 8 of 13 rows. The CSV has all of them.
Table 22 after “* Excludes impact of currency, natural gas/precious metals cost pass-through and acquisitions/divestitures.”
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| % of Sales | | | | |
| 2018 | 2017 | | 2016 | |
| Sales by Distribution Method | | | | | |
| On-Site | 33% | | 33% | | 31% |
| Merchant | 38% | | 38% | | 40% |
| Packaged Gas | 27% | | 27% | | 27% |
| Other | 2% | | 2% | | 2% |
| 100% | | 100% | | 100% |
| (Dollar amounts in millions)Year Ended December 31, | | | Variance | | | | | | |
| 2018 | | 2017 | | 2016 | 2018 vs. 2017 | | 2017 vs. 2016 | | |
| Sales | $1,964 | | | $1,738 | | $1,555 | | 13% | 12% |
| Cost of sales, exclusive of depreciation and amortization | 1,215 | | | 1,098 | | 998 | | | |
| Gross margin | 749 | | | 640 | | 557 | | | |
| Operating expenses | 118 | | | 122 | | 102 | | | |
| Depreciation and amortization | 204 | | | 185 | | 179 | | | |
| Operating profit | $427 | | | $333 | | $276 | | 28% | 21% |
First 8 of 9 rows. The CSV has all of them.
| 2018 vs. 2017 | 2017 vs. 2016 | | | | |
| % Change | % Change | | | | |
| Sales | Operating Profit | | Sales | Operating Profit | |
| Factors Contributing to Changes | | | | | | |
| Volume | 9% | | 14% | | 11% | 19% |
| Price/Mix | 2% | | 14% | | 1% | 8% |
| Cost pass-through | 1% | | —% | | 1% | —% |
| Currency | 1% | | 1% | | 1% | 1% |
First 8 of 11 rows. The CSV has all of them.
Table 25 after “The following tables provide sales by end-market and distribution method:”
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| % of Sales | % Change* | | | | | | |
| 2018 | 2017 | | 2016 | 2018 vs. 2017 | 2017 vs. 2016 | | |
| Sales by End-Markets | | | | | | | | |
| Manufacturing | 9% | | 9% | | 9% | | 16% | 13% |
| Metals | 26% | | 27% | | 28% | | 12% | 15% |
| Energy | 5% | | 3% | | 3% | | 104% | 14% |
| Chemicals | 14% | | 15% | | 14% | | 3% | 20% |
| Electronics | 34% | | 33% | | 33% | | 13% | 12% |
First 8 of 13 rows. The CSV has all of them.
| % of Sales | | | | |
| 2018 | 2017 | | 2016 | |
| Sales by Distribution Method | | | | | |
| On-Site | 50% | | 50% | | 50% |
| Merchant | 32% | | 30% | | 29% |
| Packaged Gas | 11% | | 13% | | 14% |
| Other | 7% | | 7% | | 7% |
| 100% | | 100% | | 100% |
| (Dollar amounts in millions)Year Ended December 31, | | | Variance | | | | | | |
| 2018 | | 2017 | | 2016 | 2018 vs. 2017 | | 2017 vs. 2016 | | |
| Sales | $682 | | | $617 | | $596 | | 11% | 4% |
| Cost of sales, exclusive of depreciation and amortization | 448 | | | 402 | | 391 | | | |
| Gross margin | 234 | | | 215 | | 205 | | | |
| Operating expenses | 72 | | | 69 | | 66 | | | |
| Depreciation and amortization | 44 | | | 40 | | 40 | | | |
| Operating profit | $118 | | | $106 | | $99 | | 11% | 7% |
First 8 of 9 rows. The CSV has all of them.
| 2018 vs. 2017 | 2017 vs. 2016 | | | | |
| % Change | % Change | | | | |
| Sales | Operating Profit | | Sales | Operating Profit | |
| Factors Contributing to Changes | | | | | | |
| Volume/Price | 8% | | 19% | | 2% | 4% |
| Cost pass-through | 1% | | —% | | —% | —% |
| Currency | 2% | | 2% | | —% | —% |
| Acquisitions/Divestitures | —% | | —% | | 2% | 1% |
First 8 of 10 rows. The CSV has all of them.
Table 29 after “The following table provides sales by end-market:”
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| % of Sales | % Change* | | | | | | |
| 2018 | 2017 | | 2016 | 2018 vs. 2017 | 2017 vs. 2016 | | |
| Sales by End-Markets | | | | | | | | |
| Manufacturing | 12% | | 11% | | 11% | | 22% | 2% |
| Metals | 8% | | 9% | | 9% | | (4)% | —% |
| Energy | 18% | | 19% | | 23% | | 4% | (12)% |
| Chemicals | 2% | | 2% | | 2% | | (4)% | (7)% |
| Electronics | 1% | | 1% | | 1% | | 33% | 32% |
First 8 of 13 rows. The CSV has all of them.
| (Dollar amounts in millions)Year Ended December 31, | |
| 2018 | |
| Sales | $2,873 |
| Cost of sales, exclusive of depreciation and amortization | 1,899 |
| Gross margin | 974 |
| Operating expenses | 440 |
| Depreciation and amortization | 282 |
| Operating profit | $252 |
First 8 of 9 rows. The CSV has all of them.
Table 31 after “The following tables provide sales by end-market and distribution method:”
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| % of Sales |
| 2018 |
| Sales by End-Markets | |
| Manufacturing | 19% |
| Metals | 9% |
| Chemicals & Energy | 13% |
| Electronics | 7% |
| Healthcare | 23% |
First 8 of 12 rows. The CSV has all of them.
Table 32 after “* Excludes impact of currency, natural gas/precious metals cost pass-through and acquisitions/divestitures.”
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| % of Sales |
| 2018 |
| Sales by Distribution Method | |
| On-Site | 17% |
| Merchant | 18% |
| Packaged Gas | 44% |
| Other | 21% |
| 100% |
Table 33 after “To help understand the reported results, the following is a summary of the significant currencies underlying Linde’s consolidated results an”
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| Percent of2018ConsolidatedSales | Statements of Income | | Balance Sheets | | | | | |
| Average Year Ended December 31, | December 31, | | | | | | | |
| Currency | 2018 | 2017 | | 2016 | 2018 | 2017 | | | |
| Euro | 16% | | 0.85 | | 0.89 | | 0.90 | 0.87 | 0.83 |
| Brazilian real | 7% | | 3.63 | | 3.19 | | 3.47 | 3.87 | 3.31 |
| Chinese yuan | 7% | | 6.60 | | 6.76 | | 6.64 | 6.88 | 6.51 |
| Canadian dollar | 6% | | 1.30 | | 1.30 | | 1.32 | 1.36 | 1.26 |
| Mexican peso | 4% | | 19.20 | | 18.86 | | 18.65 | 19.65 | 19.66 |
First 8 of 15 rows. The CSV has all of them.
Table 34 after “LIQUIDITY, CAPITAL RESOURCES AND OTHER FINANCIAL DATA”
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| (Millions of dollars) Year Ended December 31, | 2018 | 2017 | | 2016 | |
| Net Cash Provided by (Used for) | | | | | |
| Operating Activities | | | | | |
| Income from continuing operations (including noncontrolling interests) | $4,288 | | $1,308 | | $1,538 |
| Non-cash charges (credits): | | | | | |
| Add: Transaction costs and other charges, net of payments (a) | 40 | | 26 | | 83 |
| Add: Amortization of merger-related inventory step-up | 368 | | — | | — |
| Less: Net gain on sale of businesses (b) | (2,923) | | — | | — |
First 8 of 31 rows. The CSV has all of them.
| (Millions of dollars) | Due or expiring by December 31, | | | | | | | | | | |
| 2019 | 2020 | | 2021 | 2022 | 2023 | | Thereafter | Total | | |
| Long-term debt obligations: | | | | | | | | | | | |
| Debt and capitalized lease maturities (Note 13) | $1,523 | | $1,642 | | $1,864 | | $2,336 | | $1,788 | $4,658 | $13,811 |
| Contractual interest | 315 | | 283 | | 232 | | 169 | | 141 | 621 | 1,761 |
| Operating leases (Note 6) | 305 | | 236 | | 186 | | 145 | | 102 | 326 | 1,300 |
| Retirement obligations | 245 | | 29 | | 30 | | 31 | | 31 | 180 | 546 |
| Unconditional purchase obligations | 842 | | 767 | | 721 | | 675 | | 583 | 3,267 | 6,855 |
First 8 of 10 rows. The CSV has all of them.
Table 36 after “Certain amounts for 2018, 2017, 2016, 2015 and 2014 have been included for reference purposes and to facilitate the calculations contained h”
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| (Dollar amounts in millions, except per share data) | 2018 | 2017 | | 2016 | 2015 | 2014 | | |
| Year Ended December 31, | | | | | | | | |
| Adjusted Operating Profit and Margin | | | | | | | | |
| Reported operating profit | $5,247 | | $2,444 | | $2,247 | | $2,370 | $2,644 |
| Less: Net gain on sale of businesses | (3,294) | | | | | | — | — |
| Add: Transaction costs and other charges | 309 | | 52 | | — | | — | — |
| Add: Purchase accounting impacts - Linde AG | 714 | | — | | — | | — | — |
| Add: Venezuela currency devaluation | — | | — | | — | | — | 131 |
First 8 of 25 rows. The CSV has all of them.
| (Dollar amounts in millions, except per share data) | 2018 | 2017 | | 2016 | 2015 | 2014 | | |
| Year Ended December 31, | | | | | | | | |
| Adjusted Income Taxes and Effective Tax Rate | | | | | | | | |
| Reported income taxes | $817 | | $1,026 | | $551 | | $612 | $691 |
| Add: Bond redemption | 6 | | — | | 6 | | — | 14 |
| Add: Pension settlement charge | 3 | | 1 | | 1 | | 2 | 2 |
| Add: Cost reduction program | — | | — | | 28 | | 39 | — |
| Less: Tax Act | 61 | | (394) | | — | | — | — |
First 8 of 47 rows. The CSV has all of them.
| (Dollar amounts in millions, except per share data) | 2018 | 2017 | | 2016 | 2015 | 2014 | | |
| Year Ended December 31, | | | | | | | | |
| Adjusted Diluted Earnings Per Share from Continuing Operations | | | | | | | | |
| Reported diluted earnings per share from continuing operations | $12.79 | | $4.32 | | $5.21 | | $5.35 | $5.73 |
| Add: Bond redemption | 0.06 | | — | | 0.04 | | — | 0.07 |
| Add: Pension settlement charge | 0.03 | | — | | 0.01 | | 0.02 | 0.02 |
| Add: Venezuela currency devaluation | — | | — | | — | | — | 0.45 |
| Add: Cost reduction program | — | | — | | 0.22 | | 0.43 | — |
First 8 of 17 rows. The CSV has all of them.
Table 39 after “These measures are used by investors, financial analysts and management to assess a company’s profitability.”
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| (Dollar amounts in millions) | 2018 | 2017 | | 2016 | 2015 | 2014 | | |
| Year Ended December 31, | | | | | | | | |
| Reported income from continuing operations | $4,273 | | $1,247 | | $1,500 | | $1,547 | $1,694 |
| Add: noncontrolling interest from continuing operations | 15 | | 61 | | 38 | | 44 | 52 |
| Add: interest expense - net | 202 | | 161 | | 190 | | 161 | 213 |
| Add: net pension and OPEB cost (benefit), excluding service cost | (4) | | (4) | | 9 | | 49 | 36 |
| Add: income taxes | 817 | | 1,026 | | 551 | | 612 | 691 |
| Add: depreciation and amortization | 1,830 | | 1,184 | | 1,122 | | 1,106 | 1,170 |
First 8 of 19 rows. The CSV has all of them.
Table 40 after “INDEX TO CONSOLIDATED FINANCIAL STATEMENTS”
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| Page |
| Management’s Statement of Responsibility for Financial Statements | 61 |
| Management’s Report on Internal Control Over Financial Reporting | 61 |
| Report of Independent Registered Public Accounting Firm | 62 |
| Audited Consolidated Financial Statements | |
| Consolidated Statements of Income for the Years Ended December 31, 2018, 2017 and 2016 | 64 |
| Consolidated Statements of Comprehensive Income for the Years Ended December 31, 2018, 2017 and 2016 | 65 |
| Consolidated Balance Sheets as of December 31, 2018 and 2017 | 66 |
First 8 of 34 rows. The CSV has all of them.
Table 41 after “(Dollar amounts in millions, except per share data)”
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| Year Ended December 31, | 2018 | 2017 | | 2016 | |
| Sales | $14,900 | | $11,437 | | $10,534 |
| Cost of sales, exclusive of depreciation and amortization | 9,084 | | 6,461 | | 5,855 |
| Selling, general and administrative | 1,629 | | 1,207 | | 1,145 |
| Depreciation and amortization | 1,830 | | 1,184 | | 1,122 |
| Research and development | 113 | | 93 | | 92 |
| Transaction costs and other charges | 309 | | 52 | | 96 |
| Net gain on sale of businesses | 3,294 | | — | | — |
First 8 of 35 rows. The CSV has all of them.
| Year Ended December 31, | 2018 | 2017 | | 2016 | |
| NET INCOME (INCLUDING NONCONTROLLING INTERESTS) | $4,405 | | $1,308 | | $1,538 |
| OTHER COMPREHENSIVE INCOME (LOSS) | | | | | |
| Translation adjustments: | | | | | |
| Foreign currency translation adjustments | (401) | | 433 | | 116 |
| Reclassifications to net income (Note 4) | 318 | | — | | — |
| Income taxes | 7 | | 92 | | (48) |
| Translation adjustments | (76) | | 525 | | 68 |
First 8 of 27 rows. The CSV has all of them.
| December 31, | 2018 | 2017 | |
| Assets | | | |
| Cash and cash equivalents | $4,466 | | $617 |
| Accounts receivable – net | 4,297 | | 1,710 |
| Contract assets | 283 | | — |
| Inventories | 1,651 | | 614 |
| Assets held for sale | 5,498 | | — |
| Prepaid and other current assets | 1,077 | | 344 |
First 8 of 40 rows. The CSV has all of them.
| Year Ended December 31, | 2018 | 2017 | | 2016 | |
| Increase (Decrease) in Cash and Cash Equivalents | | | | | |
| Operations | | | | | |
| Net income – Linde plc | $4,381 | | $1,247 | | $1,500 |
| Less: income from discontinued operations, net of tax and noncontrolling interests | (108) | | — | | — |
| Add: Noncontrolling interests from continuing operations | 15 | | 61 | | 38 |
| Income from continuing operations (including noncontrolling interests) | $4,288 | | $1,308 | | $1,538 |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | |
First 8 of 49 rows. The CSV has all of them.
| Cash and cash equivalents, end-of-period | $4,466 | $617 | $524 |
| Supplemental Data | | | |
| Income taxes paid | $757 | $565 | $585 |
| Interest paid, net of capitalized interest (Note 9) | $214 | $184 | $189 |
Table 46 after “(Dollar amounts in millions, except per share data, shares in thousands)”
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| Linde plc Shareholders’ Equity | | | | | | | | | | | | | | | | | | | | |
| Ordinary shares | AdditionalPaid-inCapital | | RetainedEarnings | Accumulated OtherComprehensiveIncome (Loss)(Note 9) | Treasury Stock | | Linde plcShareholders’Equity | | NoncontrollingInterests | | Total Equity | | | | | | | | | |
| Activity | Shares | Amounts | | Shares | Amounts | | | | | | | | | | | | | | | | |
| Balance, December 31, 2015 | 383,231 | | $4 | | $4,005 | | $12,229 | | | $(4,596) | | | 98,352 | | | $(7,253) | | $4,389 | | $404 | $4,793 |
| Net Income | | | | | 1,500 | | | | | | | | 1,500 | | | 35 | | 1,535 | | | |
| Other comprehensive income (loss) | | | | | | (4) | | | | | | | (4) | | | (11) | | (15) | | | |
| Noncontrolling interests: | | | | | | | | | | | | | | | | | | | | | |
| Dividends and other capital reductions | | | | | | | | | | | | — | | | (28) | | (28) | | | | |
First 8 of 25 rows. The CSV has all of them.
| Linde plc Shareholders’ Equity | | | | | | | | | | | | | | | | | | | | | | |
| Ordinary shares | AdditionalPaid-inCapital | | RetainedEarnings | Accumulated OtherComprehensiveIncome (Loss)(Note 9) | Treasury Stock | | Linde plcShareholders’Equity | | NoncontrollingInterests | | Total Equity | | | | | | | | | | | |
| Activity | Shares | Amounts | | Shares | Amounts | | | | | | | | | | | | | | | | | | |
| Issuances of common stock: | | | | | | | | | | | | | | | | | | | | | | | |
| For the dividend reinvestment and stock purchase plan | | | | | | | | (50) | | | 7 | | | 7 | | | | | 7 | | | | |
| For employee savings and incentive plans | | | | (49) | | | | | (1,835) | | | 134 | | | 85 | | | | | 85 | | | |
| Purchases of common stock | | | | | | | | 9 | | | (1) | | | (1) | | | | | (1) | | | | |
| Share-based compensation | | | | 59 | | | | | | | | | 59 | | | | | 59 | | | | | |
First 8 of 24 rows. The CSV has all of them.
Table 48 after “The purchase price and estimated fair value of Linde AG’s net assets acquired as of the merger date on October 31, 2018 is presented as foll”
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| (in thousands, except value per share data, Linde AG exchange ratio, and purchase price) | |
| Linde AG common stock tendered as of October 31, 2018 (i) | 170,875 Shares |
| Business combination agreement exchange ratio (ii) | 1.54 : 1 |
| Linde plc ordinary shares issued in exchange for Linde AG | 263,148 |
| Per share price of Praxair, Inc. common stock (iii) | $164.50 |
| Purchase price (millions of dollars) | $43,288 |
Table 49 after “Therefore, final determination of the fair values will likely result in further adjustments to the values presented in the following table:”
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| Millions of dollars | Estimated Fair Value |
| Assets | |
| Cash and cash equivalents | $1,363 |
| Accounts receivable – net | 2,859 |
| Inventories | 1,452 |
| Assets held for sale | 5,180 |
| Prepaid and other current assets | 1,251 |
| Property, plant and equipment | 19,381 |
First 8 of 26 rows. The CSV has all of them.
Table 50 after “The fair value of property, plant and equipment was primarily calculated using replacement costs adjusted for the age and condition of the a”
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| Property, plant and equipment ("PP&E") | (in millions) |
| Production plants | $10,739 |
| Storage tanks | 1,809 |
| Transportation equipment and other | 574 |
| Cylinders | 2,493 |
| Buildings | 1,970 |
| Land and improvements | 647 |
| Construction in progress | 1,149 |
First 8 of 9 rows. The CSV has all of them.
Table 51 after “The fair value of identifiable intangible assets is summarized below:”
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| Weighted Average Amortization Period (in years) | | (in millions) | |
| Identifiable intangible assets | | | | |
| Customer relationships | 27 | | $12,555 |
| Linde Brand | Indefinite | | 1,648 |
| Brands/Tradenames | 27 | | 578 |
| Other intangibles | 8 | | 811 |
| Preliminary fair value of identifiable intangible assets | 26 | | $15,592 | |
Table 52 after “The unaudited pro forma results are summarized below:”
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| Millions of dollars | 2018 | 2017 | |
| Sales (a) | $29,774 | | $28,449 |
| Income from continuing operations | $4,739 | | $871 |
| Millions of dollars | Carrying Value |
| Assets | |
| Cash and cash equivalents | $38 |
| Accounts receivable – net | 311 |
| Inventories | 67 |
| Prepaid and other current assets | 22 |
| Property, plant and equipment – net | 1,342 |
| Equity investments | 234 |
First 8 of 25 rows. The CSV has all of them.
Table 54 after “Only the sales of the Linde AG merger-related divestitures meet the criteria for discontinued operations, Praxair merger-related divestiture”
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| Millions of dollars | November 1, - December 31, 2018 |
| Net sales | $388 |
| Cost of sales | 173 |
| Other operating costs | 90 |
| Operating profit | $125 |
| Income from equity investments | 1 |
| Income taxes | 9 |
| Income from discontinued operations, net of tax | $117 |
First 8 of 10 rows. The CSV has all of them.
Table 55 after “Net assets held for sale includes both the Linde AG merger-related divestitures that meet the criteria for discontinued operations and the P”
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| Millions of dollars | Carrying / Fair Market Value |
| Assets | |
| Cash and cash equivalents | $182 |
| Accounts receivable – net | 297 |
| Inventories | 209 |
| Prepaid and other current assets | 54 |
| Property, plant and equipment – net | 2,005 |
| Other Assets | 187 |
First 8 of 16 rows. The CSV has all of them.
Table 56 after “per diluted share). Following is a summary of the pre-tax charge by reportable segment:”
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| (millions of dollars) | Severance costs | Other Charges | | Total | |
| North America | $14 | | $29 | | $43 |
| Europe | 12 | | 3 | | 15 |
| South America | 5 | | 7 | | 12 |
| Asia | 6 | | 13 | | 19 |
| Surface Technologies | 3 | | 4 | | 7 |
| Total | $40 | | $56 | | $96 |
Table 57 after “, minimum payments due under operating leases are as follows:”
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| (Millions of dollars) | |
| 2019 | $305 |
| 2020 | 236 |
| 2021 | 186 |
| 2022 | 145 |
| 2023 | 102 |
| Thereafter | 326 |
| $1,300 |
Table 58 after “, minimum payments due under capital leases are as follows:”
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| (Millions of dollars) | |
| 2019 | 18 |
| 2020 | 17 |
| 2021 | 12 |
| 2022 | 10 |
| 2023 | 5 |
| Thereafter | 42 |
| $104 |
First 8 of 9 rows. The CSV has all of them.
Table 59 after “Pre-tax income applicable to U.S. and foreign operations is as follows:”
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| (Millions of dollars)Year Ended December 31, | 2018 | 2017 | | 2016 | |
| United States | $931 | | $1,003 | | $954 |
| Foreign (a) | 4,118 | | 1,284 | | 1,094 |
| Total income before income taxes | $5,049 | | $2,287 | | $2,048 |
Table 60 after “The following is an analysis of the provision for income taxes:”
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| (Millions of dollars)Year Ended December 31, | 2018 (a) | 2017 (a) | | 2016 | |
| Current tax expense (benefit) | | | | | |
| U.S. federal | $390 | | $565 | | $266 |
| State and local | (7) | | 84 | | 32 |
| Foreign | 620 | | 374 | | 266 |
| 1,003 | | 1,023 | | 564 |
| Deferred tax expense (benefit) | | | | | |
| U.S. federal | 8 | | (221) | | 3 |
First 8 of 12 rows. The CSV has all of them.
| 2018 | 2017 | |
| Current tax expense (benefit) | | | |
| U.S. federal | $219 | | $414 |
| State and local | (36) | | 53 |
| Foreign | 114 | | 60 |
| 297 | | 527 |
| Deferred tax expense (benefit) | | | |
| U.S. federal | 6 | | (333) |
First 8 of 12 rows. The CSV has all of them.
Table 62 after “in years 2017 and 2016. An analysis of the difference between the provision for income taxes and the amount computed by applying the U.S. st”
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| (Dollar amounts in millions)Year Ended December 31, | 2018 | 2017 | | 2016 | | | | |
| U.S. statutory income tax | $1,060 | | 21.0% | | $801 | 35.0% | $717 | 35.0% |
| State and local taxes – net of federal benefit | 30 | | 0.6% | | 32 | 1.4% | 28 | 1.4% |
| U.S. tax credits and deductions (a) | (12) | | (0.2)% | | (27) | (1.2)% | (32) | (1.6)% |
| Foreign tax differentials (b) | 57 | | 1.1% | | (145) | (6.3)% | (140) | (6.8)% |
| Share Based Compensation | (22) | | (0.4)% | | (35) | (1.5)% | (20) | (1.0)% |
| Tax Act | (61) | | (1.2)% | | 394 | 17.2% | — | —% |
| Divestitures (c) | (321) | | (6.4)% | | — | —% | — | —% |
First 8 of 10 rows. The CSV has all of them.
| (Millions of dollars)December 31, | 2018 | 2017 | |
| Deferred tax liabilities | | | |
| Fixed assets | $3,935 | | $1,128 |
| Goodwill | 124 | | 143 |
| Other intangible assets | 3,684 | | 72 |
| Subsidiary/equity investments | 570 | | 200 |
| Other | 648 | | 93 |
| $8,961 | | $1,636 |
First 8 of 21 rows. The CSV has all of them.
| 2018 | 2017 | | 2016 | |
| Balance, January 1, | $(76) | | $(132) | | $(123) |
| Income tax (charge) benefit (i) | (51) | | 59 | | (13) |
| Merger with Linde AG | (121) | | — | | — |
| Other, including write-offs | 7 | | — | | 6 |
| Translation adjustments | 4 | | (3) | | (2) |
| Balance, December 31, | $(237) | | $(76) | | $(132) |
Table 65 after “A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:”
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| (Millions of dollars) | 2018 | 2017 | | 2016 | |
| Unrecognized income tax benefits, January 1 | $54 | | $56 | | $68 |
| Additions for tax positions of prior years (a) | 104 | | 48 | | 6 |
| Reductions for tax positions of prior years | (7) | | (26) | | (15) |
| Additions for current year tax positions (b) | 179 | | — | | — |
| Reductions for settlements with taxing authorities (c) | (3) | | (26) | | (2) |
| Foreign currency translation and other | (8) | | 2 | | (1) |
| Unrecognized income tax benefits, December 31 | $319 | | $54 | | $56 |
Table 66 after “, the company remained subject to examination in the following major tax jurisdictions for the tax years as indicated below:”
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| Major tax jurisdictions | Open Years |
| North and South America | |
| United States | 2014 through 2018 |
| Canada | 2011 through 2018 |
| Mexico | 2012 through 2018 |
| Brazil | 2005 through 2018 |
| Europe and Africa | |
| Belgium | 2013 through 2018 |
First 8 of 22 rows. The CSV has all of them.
Table 67 after “Basic and Diluted earnings per share - Linde plc shareholders is computed by dividing Income From Continuing Operations, Income From discont”
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| 2018 | 2017 | | 2016 | |
| Numerator (millions of dollars) | | | | | |
| Income From Continuing Operations | $4,273 | | $1,247 | | $1,500 |
| Income from discontinued operations, net of tax | 108 | | — | | — |
| Net Income – Linde plc | $4,381 | | $1,247 | | $1,500 |
| Denominator (thousands of shares) | | | | | |
| Weighted average shares outstanding | 330,088 | | 285,893 | | 285,289 |
| Shares earned and issuable under compensation plans | 313 | | 368 | | 388 |
First 8 of 18 rows. The CSV has all of them.
| (Millions of dollars)Year Ended December 31, | 2018 | 2017 | | 2016 | |
| Selling, General and Administrative | | | | | |
| Selling | $757 | | $511 | | $493 |
| General and administrative | 872 | | 696 | | 652 |
| $1,629 | | $1,207 | | $1,145 |
| Year Ended December 31, | 2018 | 2017 | | 2016 | |
| Depreciation and Amortization (a) | | | | | |
| Depreciation | $1,615 | | $1,093 | | $1,028 |
| Amortization of other intangibles (Note 12) | 215 | | 91 | | 94 |
| $1,830 | | $1,184 | | $1,122 |
| Year Ended December 31, | 2018 | 2017 | | 2016 | |
| Other Income (Expenses) – Net | | | | | |
| Currency related net gains (losses) | $4 | | $(3) | | $1 |
| Partnership income | 8 | | 6 | | 5 |
| Severance expense | (7) | | (6) | | (7) |
| Asset divestiture gains (losses) – net | 6 | | 4 | | 16 |
| Other – net | 7 | | 3 | | 8 |
| $18 | | $4 | | $23 |
| Year Ended December 31, | 2018 | 2017 | | 2016 | |
| Interest Expense – Net | | | | | |
| Interest incurred on debt | $196 | | $189 | | $208 |
| Interest capitalized | (20) | | (28) | | (34) |
| Bond redemption (b) | 26 | | — | | 16 |
| $202 | | $161 | | $190 |
| Year Ended December 31, | 2018 | 2017 | | 2016 | |
| Income Attributable to Noncontrolling Interests | | | | | |
| Noncontrolling interests' operations (c) | $12 | | $59 | | $35 |
| Redeemable noncontrolling interests' operations (Note 16) | 3 | | 2 | | 3 |
| Noncontrolling interests from continuing operations | $15 | | $61 | | $38 |
| Noncontrolling interests from discontinued operations | $9 | | $— | | $— |
| (Millions of dollars)December 31, | 2018 | 2017 | |
| Accounts Receivable | | | |
| Trade | $4,368 | | $1,814 |
| Other | 42 | | 34 |
| 4,410 | | 1,848 |
| Less: allowance for doubtful accounts (d) | (113) | | (138) |
| $4,297 | | $1,710 |
| December 31, | 2018 | 2017 | |
| Inventories | | | |
| Raw materials and supplies | $339 | | $224 |
| Work in process | 321 | | 57 |
| Finished goods | 991 | | 333 |
| $1,651 | | $614 |
| December 31, | 2018 | 2017 | |
| Prepaid and Other Current Assets | | | |
| Prepaid (e) | 367 | | 185 |
| VAT Recoverable | 250 | | 94 |
| Other | 460 | | 65 |
| $1,077 | | $344 |
| December 31, | 2018 | 2017 | |
| Other Long-term Assets | | | |
| Pension assets (Note 18) | $140 | | $17 |
| Insurance contracts (f) | 75 | | 74 |
| Long-term receivables, net (g) | 135 | | 54 |
| Deposits | 61 | | 70 |
| Investments carried at cost | 76 | | 12 |
| Deferred charges | 148 | | 47 |
First 8 of 11 rows. The CSV has all of them.
| December 31, | 2018 | 2017 | |
| Other Current Liabilities | | | |
| Accrued expenses | $1,187 | | $319 |
| Payroll | 658 | | 170 |
| VAT Payable | 235 | | 50 |
| Deferred Income | 242 | | 9 |
| Pension and postretirement (Note 18) | 117 | | 30 |
| Interest payable | 137 | | 81 |
First 8 of 12 rows. The CSV has all of them.
| December 31, | 2018 | 2017 | |
| Other Long-term Liabilities | | | |
| Pension and postretirement (Note 18) | $2,004 | | $851 |
| Tax liabilities for uncertain tax positions | 191 | | 35 |
| Tax Act liabilities for deemed repatriation (Note 7) | 265 | | 388 |
| Interest and penalties for uncertain tax positions (Note 7) | 48 | | 8 |
| Insurance reserves | 24 | | 23 |
| Other | 903 | | 283 |
First 8 of 9 rows. The CSV has all of them.
| December 31, | 2018 | 2017 | |
| Deferred Credits | | | |
| Deferred income taxes (Note 7) | $7,432 | | $1,167 |
| Other | 179 | | 69 |
| $7,611 | | $1,236 |
| December 31, | 2018 | 2017 | |
| Accumulated Other Comprehensive Income (Loss) | | | |
| Cumulative translation adjustment - net of taxes: | | | |
| North America (h) | $(955) | | $(885) |
| South America (h) | (2,347) | | (2,004) |
| Europe (h) | (185) | | (398) |
| Asia (h) | (300) | | (151) |
| Surface Technologies | (34) | | (17) |
First 8 of 14 rows. The CSV has all of them.
Table 81 after “Significant classes of property, plant and equipment are as follows (2018 reflects the impact of the Linde AG merger on October 31, 2018 (se”
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| (Millions of dollars)December 31, | Depreciable Lives (Yrs) | 2018 | 2017 | |
| Production plants (primarily 15-year life) (a) | 10-20 | $24,726 | | $16,258 |
| Storage tanks | 15-20 | 4,061 | | 2,620 |
| Transportation equipment and other (b) | 3-15 | 2,654 | | 1,588 |
| Cylinders | 10-30 | 3,955 | | 1,875 |
| Buildings | 25-40 | 3,083 | | 1,202 |
| Land and improvements (c) | 0-20 | 1,162 | | 589 |
| Construction in progress | | 2,296 | | 1,159 |
First 8 of 11 rows. The CSV has all of them.
Table 82 after “The gross amount of assets recorded under capital leases by major class are as follows:”
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| (Millions of dollars)December 31, | 2018 | 2017 | |
| Production plants | $1 | | $2 |
| Transportation equipment and other | 49 | | 1 |
| Buildings | 24 | | — |
| $74 | | $3 |
| (Millions of dollars) | NorthAmerica | SouthAmerica | | Europe | Asia | SurfaceTechnologies | | Linde AG | Total | | |
| Balance, December 31, 2016 | $2,165 | | $132 | | $629 | | $58 | | $133 | $— | $3,117 |
| Acquisitions (Note 3) | 24 | | — | | — | | — | | — | — | 24 |
| Purchase adjustments & other | — | | (1) | | 1 | | — | | — | — | — |
| Foreign currency translation | 13 | | (2) | | 68 | | 3 | | 10 | — | 92 |
| Balance, December 31, 2017 | $2,202 | | $129 | | $698 | | $61 | | $143 | $— | $3,233 |
| Addition due to Merger (Note 3) | — | | — | | — | | — | | — | 24,146 | 24,146 |
| Acquisitions (Note 3) | 5 | | — | | — | | — | | — | — | 5 |
First 8 of 12 rows. The CSV has all of them.
Table 84 after “(2018 reflects the impact of the Linde AG merger on October 31, 2018 (see Notes 1 and 3) and the divestiture of Praxair's European industria”
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| (Millions of dollars) For the year ended December 31, 2018 | Customer Relationships | Brands/Tradenames | | Other Intangible Assets | | Total | | |
| Cost: | | | | | | | | |
| Balance, December 31, 2017 | $772 | | $46 | | | $619 | | $1,437 |
| Additions due to merger (Note 3) | 12,555 | | 2,226 | | | 811 | | 15,592 |
| Additions (primarily acquisitions) | 1 | | — | | | 26 | | 27 |
| Foreign currency translation | 121 | | 24 | | | (9) | | 136 |
| Disposals (Note 4) | (141) | | (8) | | | (78) | | (227) |
| Other * | (20) | | — | | | (3) | | (23) |
First 8 of 31 rows. The CSV has all of them.
Table 85 after “Total estimated annual amortization expense related to finite lived intangibles is as follows:”
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| (Millions of dollars) | |
| 2019 | $848 |
| 2020 | 830 |
| 2021 | 790 |
| 2022 | 648 |
| 2023 | 605 |
| Thereafter | 10,833 |
| Total amortization related to finite-lived intangible assets | 14,554 |
First 8 of 10 rows. The CSV has all of them.
| (Millions of dollars) | 2018 | 2017 | |
| Short-term | | | |
| Commercial paper and U.S. bank borrowings | $829 | | $202 |
| Other bank borrowings (primarily international) | 656 | | 36 |
| Total short-term debt | 1,485 | | 238 |
| Long-term (a) | | | |
| 1.20% Notes due 2018 (b) | — | | 498 |
| 1.25% Notes due 2018 (c) | — | | 475 |
First 8 of 44 rows. The CSV has all of them.
Table 87 after “, the company has the following major credit facilities available for future borrowing:”
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| Millions of dollars | TotalFacility | | BorrowingsOutstanding | | Available forBorrowing | Expires | | | | |
| Praxair Senior Unsecured | $2,500 | | | $— | | $2,500 | | | Dec-19 | |
| Linde AG Revolving Credit Facility | € | 2,500 | | | $— | | € | 2,500 | | Jul-20 |
Table 88 after “Expected maturities of long-term debt are as follows:”
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| (Millions of dollars) | |
| 2019 | $1,523 |
| 2020 | 1,642 |
| 2021 | 1,864 |
| 2022 | 2,336 |
| 2023 | 1,788 |
| Thereafter | 4,658 |
| $13,811 |
| | | | Fair Value | | | | | | |
| (Millions of dollars) | Notional Amounts | Assets (a) | | Liabilities (a) | | | | | | |
| December 31, | 2018 | 2017 | | 2018 | 2017 | 2018 | | 2017 | | |
| Derivatives Not Designated as Hedging Instruments: | | | | | | | | | | |
| Currency contracts: | | | | | | | | | | |
| Balance sheet items | $6,357 | | $2,693 | | $24 | | $16 | | $42 | $16 |
| Forecasted transactions | 945 | | — | | 15 | | — | | 17 | — |
| Interest rate/Cross-currency interest rate swaps | 2,110 | | — | | 112 | | — | | 40 | — |
First 8 of 17 rows. The CSV has all of them.
| 2018 | 2017 | | | | |
| (Millions of dollars) | US$ Derivative Notional | Change in Fair Value (b) | | US$ Derivative Notional | Change in Fair Value | |
| Underlying debt instrument: | | | | | | |
| 1.00% Euro denominated notes due 2028 | $516 | | $8 | | $— | $— |
| 1.25% Notes due 2018 (a) | — | | — | | 475 | — |
| 0.250% Euro denominated notes due 2022 | 344 | | 2 | | — | — |
| 2.00% Euro denominated notes due 2023 | 287 | | 2 | | — | — |
| 3.875% Euro denominated notes due 2021 | 287 | | 1 | | — | — |
First 8 of 13 rows. The CSV has all of them.
Table 91 after “The following table summarizes the unrecognized gains (losses) related to terminated treasury rate lock contracts:”
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| | | Unrecognized Gain / (Loss) (a) | | | | |
| (Millions of dollars) | YearTerminated | OriginalGain / (Loss) | 12/31/2018 | | 12/31/2017 | | |
| Treasury Rate Locks | | | | | | | |
| Underlying debt instrument: | | | | | | | |
| $500 million 2.20% fixed-rate notes that mature in 2022 (b) | 2012 | $(2) | | $— | | | $(1) |
| $500 million 3.00% fixed-rate notes that mature in 2021 (b) | 2011 | (11) | | (3) | | | (4) |
| $600 million 4.50% fixed-rate notes that mature in 2019 (b,c) | 2009 | 16 | | — | | | 3 |
| Total – pre-tax | | | $(3) | | | $(2) | |
First 8 of 10 rows. The CSV has all of them.
Table 92 after “The following table summarizes the impact of the company's derivatives not designated as hedging instruments on the consolidated statements ”
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| (Millions of dollars) | Amount of Pre-Tax Gain (Loss) Recognized in Earnings * | | | | |
| December 31, | 2018 | 2017 | | 2016 | |
| Derivatives Not Designated as Hedging Instruments | | | | | |
| Currency contracts: | | | | | |
| Balance sheet items: | | | | | |
| Debt-related | $(118) | | $121 | | $21 |
| Other balance sheet items | 3 | | — | | 4 |
| Total | $(115) | | $121 | | $25 |
Table 93 after “The following table summarizes the impact of the company's derivatives designated as hedging instruments that impact AOCI:”
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| (Millions of dollars) | Amount of Gain (Loss)Recognized in AOCI | Amount of Gain (Loss) Reclassified from AOCI to the Consolidated Statement of Income | | | | | | | | |
| December 31, | 2018 | 2017 | | 2016 | 2018 | 2017 | 2016 | | | |
| Derivatives Designated as Hedging Instruments** | | | | | | | | | | |
| Currency contracts: | | | | | | | | | | |
| Net investment hedge | $— | | $— | | $(4) | | | $— | $— | $— |
| Forecasted transactions | — | | 1 | | — | | | — | — | — |
| Balance sheet items | — | | (1) | | 1 | | | — | — | — |
| Interest rate contracts: | | | | | | | | | | |
First 8 of 12 rows. The CSV has all of them.
| Fair Value Measurements Using | | | | | | | | | |
| (Millions of dollars) | Level 1 | Level 2 | | Level 3 | | | | | | |
| 2018 | 2017 | | 2018 | 2017 | 2018 | | 2017 | | |
| Assets | | | | | | | | | | |
| Derivative assets | $— | | $— | | $193 | | $17 | | $— | $— |
| Investments and securities * | 22 | | — | | — | | — | | 30 | — |
| Total | $22 | | $— | | $193 | | $17 | | $30 | $— |
| Liabilities | | | | | | | | | | |
First 8 of 9 rows. The CSV has all of them.
Table 95 after “. Gains (losses) recognized in earnings are recorded to interest expense - net in the company's consolidated statements of income.”
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| (Millions of dollars) | 2018 |
| Balance at January 1 | $— |
| Merger impact | 28 |
| Gains (losses) recognized in earnings | 2 |
| Balance at December 31 | $30 |
Table 96 after “Following is a summary of the Linde plc shareholders' equity transactions related to the merger:”
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| Ordinary Shares | Additional Paid in Capital | Treasury Stock | | | | |
| (Dollar amounts in millions, shares in thousands) | Shares | Amount | | Shares | Amount | | |
| Merger with Linde AG (a) | 263,148 | | $— | | $43,288 | — | $— |
| Conversion of Praxair to Linde plc shares (b) | — | | (3) | | 3 | — | — |
| Cancellation of Praxair Treasury stock (c) | (95,324) | | — | | (7,113) | (95,324) | 7,113 |
| Impact of Linde AG merger | 167,824 | | $(3) | | $36,178 | (95,324) | $7,113 |
Table 97 after “As indicated above, in connection with the merger, Praxair and Linde AG common stock was converted into shares of Linde plc ordinary shares.”
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| (in thousands, except Linde AG exchange ratio) | |
| Linde plc shares exchanged for Linde AG shares | |
| Linde AG common stock tendered as of October 31, 2018 (i) | 170,875 |
| Business combination agreement exchange ratio (ii) | 1.54 |
| Linde plc ordinary shares issued in exchange for Linde AG | 263,148 |
| Linde plc shares issued to Praxair shareholders upon conversion | |
| Praxair shares outstanding at merger date | 287,907 |
| Total Linde plc shares issued at merger date | 551,055 |
| (Millions of dollars) | 2018 | 2017 | | 2016 | |
| Beginning Balance | $11 | | $11 | | $113 |
| Net income | 3 | | 2 | | 3 |
| Distributions to noncontrolling interest | (1) | | (3) | | (2) |
| Redemption value adjustment/accretion | 3 | | 1 | | (6) |
| Foreign currency translation and other | — | | — | | 7 |
| Purchase/divestiture of noncontrolling interest * | — | | — | | (104) |
| Ending Balance | $16 | | $11 | | $11 |
| Year Ended December 31, | 2018 | 2017 | | 2016 | |
| Dividend yield | 2.1% | | 2.7% | | 2.9% |
| Volatility | 14.4% | | 14.0% | | 14.4% |
| Risk-free interest rate | 2.67% | | 2.13% | | 1.41% |
| Expected term years | 5 | | 6 | | 6 |
Table 100 after “and changes during the period then ended (averages are calculated on a weighted basis; life in years; intrinsic value expressed in millions)”
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| Activity | Number ofOptions(000’s) | AverageExercisePrice | | AverageRemainingLife | AggregateIntrinsicValue | |
| Outstanding at January 1, 2018 | 10,787 | | $108.70 | | | |
| Granted | 1,625 | | 154.00 | | | |
| Exercised | (1,714) | | 95.25 | | | |
| Cancelled or expired | (74) | | 131.91 | | | |
| Outstanding at December 31, 2018 | 10,624 | | $117.65 | | 5.9 | $408 |
| Exercisable at December 31, 2018 | 7,065 | | $111.16 | | 4.7 | $317 |
Table 101 after “and changes during the period then ended (shares based on target amounts, averages are calculated on a weighted basis):”
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| Performance-Based | Restricted Stock | | | | |
| Number ofShares(000’s) | AverageGrant DateFair Value | | Number ofShares(000’s) | AverageGrant DateFair Value | |
| Non-vested at January 1, 2018 | 665 | | $113.40 | | 264 | $107.56 |
| Granted | — | | — | | 279 | 144.86 |
| Vested | (79) | | 119.98 | | (153) | 117.67 |
| Award conversions | (435) | | — | | 704 | — |
| Cancelled and Forfeited | (151) | | 110.29 | | (23) | 111.41 |
| Non-vested at December 31, 2018 | — | | $— | | 1,071 | $118.84 |
| (Millions of dollars)Year Ended December 31, | Pensions | | OPEB | | | | | | | |
| 2018 | | 2017 | | 2016 | 2018 | | 2017 | 2016 | | |
| Amount recognized in Operating Profit | | | | | | | | | | |
| Service cost | $74 | | | $46 | | $45 | | $2 | $3 | $2 |
| Amount recognized in Net pension and OPEB cost (benefit), excluding service cost | | | | | | | | | | |
| Interest cost | 128 | | | 103 | | 100 | | 5 | 5 | 6 |
| Expected return on plan assets | (219) | | | (161) | | (157) | | — | — | — |
| Net amortization and deferral | 71 | | | 68 | | 59 | | (3) | (3) | (3) |
First 8 of 14 rows. The CSV has all of them.
| (Millions of dollars)Year Ended December 31, | Pensions | | | | | | | | |
| 2018 | | 2017 | OPEB | | | | | | |
| U.S. | | International | U.S. | International | | 2018 | 2017 | | |
| Change in Benefit Obligation ("PBO") | | | | | | | | | |
| Benefit obligation, January 1 | $2,215 | | $725 | | $2,066 | | $666 | $146 | $156 |
| Merger impact (a) | 415 | | 6,920 | | — | | — | 53 | — |
| Service cost | 42 | | 32 | | 32 | | 14 | 2 | 3 |
| Interest cost | 74 | | 54 | | 70 | | 33 | 5 | 5 |
First 8 of 37 rows. The CSV has all of them.
Table 104 after “Funded status information as of December 31, 2018 for select international pension plans is presented in the table below as the benefit obli”
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| United Kingdom | Germany | | Other International | Total International | |
| (Millions of dollars) | 2018 | 2018 | | 2018 | 2018 | |
| Benefit obligation, December 31 | $4,444 | | $1,916 | | $1,173 | $7,533 |
| Fair value of plan assets, December 31 | 4,339 | | 1,043 | | 910 | 6,292 |
| Funded Status, End of Year | $(105) | | $(873) | | $(263) | $(1,241) |
| Pensions | OPEB | | | | |
| (Millions of dollars) | 2018 | 2017 | | 2018 | 2017 | |
| Current year net actuarial losses (gains)* | $286 | | $34 | | $(11) | $(6) |
| Amortization of net actuarial gains (losses) | (70) | | (67) | | 2 | 1 |
| Divestitures | (12) | | — | | — | — |
| Amortization of prior service credits (costs) | (1) | | (1) | | 1 | 2 |
| Pension settlements (Note 5) | (14) | | (2) | | — | — |
| Curtailments | — | | — | | — | 12 |
First 8 of 10 rows. The CSV has all of them.
| (Millions of dollars) | Pension | OPEB | |
| Net actuarial loss (gain) | $54 | | $(3) |
| Prior service cost (credit) | 2 | | (1) |
| $56 | | $(4) |
Table 107 after “The following table provides information for pension plans where the accumulated benefit obligation exceeds the fair value of the plan asset”
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| (Millions of dollars)Year Ended December 31, | Pensions | | | | | |
| 2018 | | 2017 | | | | |
| U.S. | | International | U.S. | International | | |
| Projected benefit obligation ("PBO") | $2,139 | | $6,681 | | $2,215 | $391 |
| Accumulated benefit obligation ("ABO") | $2,060 | | $6,586 | | $2,113 | $383 |
| Fair value of plan assets | $1,482 | | $5,307 | | $1,655 | $215 |
Table 108 after “The assumptions used to determine benefit obligations are as of the respective balance sheet dates and the assumptions used to determine net”
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| Pensions | | | | | | | | | |
| U.S. | International | | OPEB | | | | | | |
| 2018 | 2017 | | 2018 | 2017 | 2018 | | 2017 | | |
| Weighted average assumptions used to determine benefit obligations at December 31, | | | | | | | | | | |
| Discount rate | 4.20% | | 3.61% | | 2.72% | | 4.46% | | 4.16% | 3.58% |
| Rate of increase in compensation levels | 3.25% | | 3.25% | | 2.38% | | 3.35% | | N/A | N/A |
| Weighted average assumptions used to determine net periodic benefit cost for years ended December 31, | | | | | | | | | | |
| Discount rate | 3.73% | | 4.05% | | 2.73% | | 5.09% | | 3.81% | 4.21% |
First 8 of 10 rows. The CSV has all of them.
| OPEB | | |
| Assumed healthcare cost trend rates | 2018 | 2017 | |
| Praxair, Inc. | | | |
| Healthcare cost trend assumed | 6.25% | | 6.50% |
| Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | 5.00% | | 5.00% |
| Year that the rate reaches the ultimate trend rate | 2023 | | 2023 |
| Linde AG | | | |
| Healthcare cost trend assumed | 5.49% | | |
First 8 of 10 rows. The CSV has all of them.
Table 110 after “, by major asset category, are as follows:”
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| U.S. | International | | | | | | | | |
| Asset Category | Target 2018 ** | Target 2017 | 2018 | 2017 | | Target 2018 ** | Target 2017 | 2018 | 2017 | |
| Equity securities | 40%-60% | 50%-70% | 48% | | 61% | | 15%-25% | 30%-50% | 20% | 38% |
| Fixed income securities | 30%-50% | 20%-40% | 40% | | 30% | | 30%-50% | 40%-60% | 46% | 53% |
| Other | 5%-15% | 2%-10% | 13% | | 9% | | 30%-40% | 0%-10% | 34% | 9% |
Table 111 after “. During the years presented, there has been no transfer of assets between Levels 1, 2 and 3 (see Note 13 for definition of the levels):”
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| Fair Value Measurements Using | | | | | | | | | | | | |
| Level 1 | Level 2 | | Level 3 ** | Total | | | | | | | | |
| (Millions of dollars) | 2018 | 2017 | | 2018 | 2017 | 2018 | | 2017 | 2018 | 2017 | | | |
| Cash and cash equivalents | $348 | | $7 | | $— | | $— | | $— | | $— | $348 | $7 |
| Equity securities: | | | | | | | | | | | | | |
| Global equities | 1,131 | | 302 | | — | | — | | — | | — | 1,131 | 302 |
| Mutual funds | 74 | | — | | 43 | | — | | — | | — | 117 | — |
| Fixed income securities: | | | | | | | | | | | | | |
First 8 of 22 rows. The CSV has all of them.
| (Millions of dollars) | InsuranceContracts | Real Estate Funds | | Private Debt | Total | |
| Balance, December 31, 2016 | $45 | | $135 | | $— | $180 |
| Gain/(Loss) for the period | (1) | | 12 | | — | 11 |
| Acquisitions | — | | 11 | | — | 11 |
| Foreign currency translation | 6 | | — | | — | 6 |
| Balance, December 31, 2017 | 50 | | 158 | | — | 208 |
| Assumed in Linde AG merger | — | | 148 | | 667 | 815 |
| Gain/(Loss) for the period | — | | 9 | | 4 | 13 |
First 8 of 13 rows. The CSV has all of them.
Table 113 after “The following table presents estimated future benefit payments, net of participants contributions:”
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| (Millions of dollars) | Pensions | | | | |
| Year Ended December 31, | U.S. | International | | OPEB | |
| 2019 (a) | $353 | | $322 | | $14 |
| 2020 | 150 | | 333 | | 15 |
| 2021 | 146 | | 344 | | 15 |
| 2022 | 168 | | 352 | | 15 |
| 2023 | 149 | | 364 | | 14 |
| 2024-2028 | 767 | | 1,018 | | 59 |
| (Millions of dollars) | 2018 | 2017 | | 2016 | |
| Sales (a) | | | | | |
| North America | $6,420 | | $6,023 | | $5,592 |
| Europe | 1,592 | | 1,558 | | 1,392 |
| South America | 1,369 | | 1,501 | | 1,399 |
| Asia | 1,964 | | 1,738 | | 1,555 |
| Surface Technologies | 682 | | 617 | | 596 |
| Linde AG | 2,873 | | $— | | $— |
First 8 of 9 rows. The CSV has all of them.
| 2018 | 2017 | | 2016 | |
| Operating Profit | | | | | |
| North America | $1,648 | | $1,517 | | $1,431 |
| Europe | 316 | | 301 | | 274 |
| South America | 215 | | 239 | | 263 |
| Asia | 427 | | 333 | | 276 |
| Surface Technologies | 118 | | 106 | | 99 |
| Linde AG | 252 | | — | | — |
First 8 of 13 rows. The CSV has all of them.
| 2018 | 2017 | | 2016 | |
| Total Assets (b) | | | | | |
| North America | $11,643 | | $10,419 | | $10,019 |
| Europe | 769 | | 3,282 | | 2,928 |
| South America | 2,675 | | 2,738 | | 2,748 |
| Asia | 3,518 | | 3,252 | | 2,984 |
| Surface Technologies | 940 | | 745 | | 653 |
| Linde AG | 73,841 | | — | | — |
First 8 of 9 rows. The CSV has all of them.
| 2018 | 2017 | | 2016 | |
| Depreciation and Amortization | | | | | |
| North America | $660 | | $631 | | $614 |
| Europe | 146 | | 169 | | 155 |
| South America | 148 | | 159 | | 133 |
| Asia | 204 | | 185 | | 179 |
| Surface Technologies | 44 | | 40 | | 41 |
| Linde AG | 282 | | — | | — |
First 8 of 11 rows. The CSV has all of them.
| 2018 | 2017 | | 2016 | |
| Capital Expenditures and Acquisitions | | | | | |
| North America | $916 | | $779 | | $989 |
| Europe | 157 | | 141 | | 402 |
| South America | 97 | | 129 | | 232 |
| Asia | 248 | | 209 | | 165 |
| Surface Technologies | 93 | | 86 | | 40 |
| Linde AG | 397 | | — | | — |
First 8 of 9 rows. The CSV has all of them.
| 2018 | 2017 | | 2016 | |
| Sales by Product Group | | | | | |
| Atmospheric gases and related | $8,375 | | $7,938 | | $7,329 |
| Process gases and other | 2,970 | | 2,882 | | 2,609 |
| Surface technologies | 682 | | 617 | | 596 |
| Linde AG | 2,873 | | — | | — |
| $14,900 | | $11,437 | | $10,534 |
| 2018 | 2017 | | 2016 | |
| Sales by Major Country | | | | | |
| United States | $5,942 | | $4,973 | | $4,623 |
| Europe, excluding Germany | 2,435 | | 1,372 | | 1,240 |
| Brazil | 1,067 | | 1,179 | | 1,091 |
| China | 1,032 | | 735 | | 613 |
| Germany | 868 | | 401 | | 373 |
| Other – foreign | 3,556 | | 2,777 | | 2,594 |
First 8 of 9 rows. The CSV has all of them.
| 2018 | 2017 | | 2016 | |
| Long-lived Assets by Major Country (c) | | | | | |
| United States | $7,189 | | $4,979 | | $4,779 |
| Europe, excluding Germany | 7,754 | | 1,318 | | 1,170 |
| Germany | 2,411 | | 413 | | 379 |
| China | 2,237 | | 1,060 | | 975 |
| Brazil | 1,012 | | 1,204 | | 1,240 |
| Other – foreign | 9,114 | | 2,851 | | 2,706 |
First 8 of 9 rows. The CSV has all of them.
| (Millions of dollars) | 2018 | 2017 | | 2016 | |
| North America | $118 | | $115 | | $121 |
| Europe (i) | 34 | | 287 | | 243 |
| Asia | 306 | | 325 | | 353 |
| Linde AG (ii) | 1,380 | | — | | — |
| $1,838 | | $727 | | $717 |
Table 123 after “The following table shows sales by distribution method for each reportable segment and at the consolidated level for the year ended December”
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| (Dollars in Millions) | | | | | | | | | | | |
| Sales | North America | Europe | South America | Asia | Surface Technologies | Linde AG | Total% | | | | |
| Merchant | $2,364 | | $548 | | $520 | | $624 | $— | $524 | $4,580 | 31% |
| On-Site | 1,901 | | 291 | | 454 | | 984 | — | 501 | 4,131 | 28% |
| Packaged Gas | 1,995 | | 685 | | 361 | | 221 | — | 1,257 | 4,519 | 30% |
| Other | 160 | | 68 | | 34 | | 135 | 682 | 591 | 1,670 | 11% |
| $6,420 | | $1,592 | | $1,369 | | $1,964 | $682 | $2,873 | $14,900 | 100% |
Table 124 after “(Dollar amounts in millions, except per share data)”
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| 2018 | 1Q (a) | 2Q (a) | | 3Q (a) | 4Q (a) | YEAR (a) | | |
| Sales | $2,999 | | $3,061 | | $3,024 | | $5,816 | $14,900 |
| Cost of sales, exclusive of depreciation and amortization | $1,677 | | $1,723 | | $1,714 | | $3,970 | $9,084 |
| Depreciation and amortization | $311 | | $311 | | $306 | | $902 | $1,830 |
| Operating profit | $653 | | $689 | | $669 | | $3,236 | $5,247 |
| Net income – Linde plc | $462 | | $480 | | $461 | | $2,978 | $4,381 |
| Income from continuing operations | $462 | | $480 | | $461 | | $2,870 | $4,273 |
| Income from discontinued operations | $— | | $— | | $— | | $108 | $108 |
First 8 of 16 rows. The CSV has all of them.
Table 125 after “(Dollar amounts in millions, except per share data)”
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| 2017 | 1Q (a) | 2Q (a) | | 3Q (a) | 4Q (a) | YEAR (a) | | |
| Sales | $2,728 | | $2,834 | | $2,922 | | $2,953 | $11,437 |
| Cost of sales, exclusive of depreciation and amortization | $1,549 | | $1,599 | | $1,652 | | $1,661 | $6,461 |
| Depreciation and amortization | $287 | | $292 | | $298 | | $307 | $1,184 |
| Operating profit | $567 | | $606 | | $632 | | $639 | $2,444 |
| Net income – Linde plc | $389 | | $406 | | $419 | | $33 | $1,247 |
| Basic Per Share Data | | | | | | | | |
| Net income | $1.36 | | $1.42 | | $1.46 | | $0.11 | $4.36 |
First 8 of 12 rows. The CSV has all of them.
| (Millions of dollars) | OperatingProfit/(Loss) | Income from Continuing Operations | |
| Transaction costs and other charges - Q1 | $(19) | | $(18) |
| Transaction costs and other charges - Q2 | (24) | | (21) |
| Transaction costs and other charges - Q3 | (31) | | (29) |
| Pension settlement charge - Q3 | — | | (3) |
| Transaction costs and other charges - Q4 | (235) | | (238) |
| Gain on sale of business - Q4 | 3,294 | | 2,923 |
| Bond redemption - Q4 | — | | (20) |
First 8 of 19 rows. The CSV has all of them.
Table 127 after “EQUITY COMPENSATION PLANS TABLE”
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| Plan Category | Number of securities tobe issued upon exerciseof outstanding options,warrants and rights (a) | Weighted-averageexercise price ofoutstanding options,warrants and rights (b) | | Number of securitiesremaining available forfuture issuance underequity compensation plans(excluding securitiesreflected in column (a)) (c) | | |
| Equity compensation plans approved by shareholders | 11,694,110 | (1) | $117.65 | | 8,482,731 | (2) |
| Equity compensation plans not approved by shareholders | — | | — | | — | |
| Total | 11,694,110 | | $117.65 | | 8,482,731 | |
| Exhibit No. | Description |
| 2.1 | Business Combination Agreement by and among Linde Aktiengesellschaft, Praxair, Inc., Zamalight PLC, Zamalight Holdco LLC and Zamalight Subco, Inc. dated as of June 1, 2017 (Filed as Exhibit 2.1 to Praxair, Inc.'s Current Report on Form 8-K dated June 1, 2017, Filing No. 1-11037, and is incorporated herein by reference.) |
| 2.1a | Amendment No. 1, dated August 10, 2017, to the Business Combination Agreement, by and among Praxair, Inc., Linde Aktiengesellschaft, Linde plc, Zamalight Holdco LLC and Zamalight Subco, Inc. (Filed as Exhibit 2.1 to Praxair, Inc.'s Current Report on Form 8-K dated August 10, 2017, Filing No. 1-11037, and is incorporated hereby by reference.) |
| **2.2 | Sale and Purchase Agreement, dated July 5, 2018, by and among Praxair, Inc., Taiyo Nippon Sanso Corporation (“Taiyo”), and Linde plc with respect to the sale of a majority of Praxair’s businesses in Europe to Taiyo in connection with the Business Combination Agreement (Filed as Exhibit 2.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, File No. 1-38730, and is incorporated hereby by reference). |
| **2.3 | Sale and Purchase Agreement, dated July 16, 2018, by and among Linde AG, Praxair, Inc., MG Industries GmbH, Messer Canada Inc., MG Industries USA, Inc. (the MG entities and Messer Canada, Inc. being collectively referred to as “Messer”), and Linde plc with respect to the sale of certain assets of Linde AG in the Americas and certain assets of Praxair, Inc. to Messer in connection with the Business Combination Agreement (Filed as Exhibit 2.2 to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, File No. 1-38730, and is incorporated hereby by reference). |
| **2.3a | First Amendment dated September 21, 2018 to the Sale and Purchase Agreement, dated July 16, 2018, by and among Linde AG, Praxair, Inc., Messer, and Linde plc with respect to the sale of certain additional assets of Linde AG in the Americas to Messer in connection with the Business Combination Agreement (Filed as Exhibit 2.3 to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, File No. 1-38730, and is incorporated hereby by reference). |
| **2.3b | Second Amendment dated October 19, 2018 to the Sale and Purchase Agreement, dated July 16, 2018, as amended by the First Amendment thereto, by and among Linde AG, Praxair, Inc., Messer, and Linde plc, with respect to the sale of certain additional assets of Linde AG in the Americas to Messer in connection with the Business Combination Agreement (Filed as Exhibit 2.2 to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, File No. 1-11037, and is incorporated hereby by reference). |
| **2.3c | Third Amendment dated February 20, 2019 to the Sale and Purchase Agreement, dated July 16, 2018, as amended by the First and Second Amendment thereto, by and among Linde AG, Praxair, Inc., Messer, and Linde plc, with respect to the sale of certain additional assets of Linde AG in the Americas to Messer in connection with the Business Combination Agreement dated as of June 1, 2017, as amended, to effect a combination of the businesses of Linde AG and Praxair, Inc. (Filed as Exhibit 2.4 to the Company’s Current Report on Form 8-K, filed on March 7, 2019, File No. 1-11037, and is incorporated hereby by reference). |
First 8 of 14 rows. The CSV has all of them.
| 10.02 | Credit Agreement dated as of July 18, 2013 among Linde AG and Linde Finance B.V., as original borrowers, the Lenders listed therein, and Deutsche Bank Luxembourg S.A., as Agent and EUR Swingline Agent, Deutsche Bank AG, New York Branch, as USD Swingline Agent, and the several Lead Arrangers listed therein. |
| 10.02a | Waiver, dated as of June 19, 2018, to the Credit Agreement dated as of July 18, 2013 among Linde AG and Linde Finance B.V., as original borrowers, the Lenders listed therein, and Deutsche Bank Luxembourg S.A., as Agent and EUR Swingline Agent, Deutsche Bank AG, New York Branch, as USD Swingline Agent, and the several Lead Arrangers listed therein. |
| *10.03 | Long Term Incentive Plan 2018 of Linde plc (Filed as Exhibit 4.4 to the Company’s Form S-8, filed on October 31, 2018, File No. 333-228084, and incorporated herein by reference). |
| *10.04 | Linde plc Annual Variable Compensation Plan effective January 1, 2019 (Filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K, filed on January 25, 2019, File No. 1-38730, and is incorporated hereby by reference). |
| *10.05 | Form of Executive Severance Compensation Agreement effective January 1, 2009 (Filed as Exhibit 10.02 to Praxair, Inc.'s 2008 Annual Report on Form 10-K, Filing No. 1-11037, and incorporated herein by reference). |
| *10.05a | Form of Amendment, effective December 31, 2012, to Executive Severance Compensation Agreements that were effective January 1, 2009 (Filed as Exhibit 10.1 to Praxair, Inc.'s Current Report on Form 8-K dated December 14, 2012, Filing No. 1-11037, and incorporated herein by reference. |
| *10.05b | Form of Executive Severance Compensation Agreement effective January 1, 2010 (Filed as Exhibit 10.02 to Praxair, Inc.'s Quarterly Report on Form 10-Q for the quarter ended June 30, 2010, Filing No. 1-11037, and incorporated herein by reference). |
| *10.05c | Form of Amendment, effective December 31, 2012, to Executive Severance Compensation Agreements that were effective January 1, 2010 (Filed as Exhibit 10.02c to Praxair, Inc.'s 2012 Annual Report on Form 10-K, Filing No. 1-11037, and incorporated herein by reference). |
First 8 of 17 rows. The CSV has all of them.
| *10.07 | Praxair, Inc. Equalization Benefit Plan amended and restated effective December 31, 2007 (Filed as Exhibit 10.05c to Praxair, Inc.’s 2008 Annual Report on Form 10-K, Filing No. 1-11037, and incorporated herein by reference). |
| *10.07a | First amendment to the Praxair, Inc. Equalization Benefit Plan effective January 1, 2010 (Filed as Exhibit 10.05f to Praxair Inc.’s 2009 Annual Report on Form 10-K, Filing No. 1-11037, and incorporated herein by reference). |
| *10.07b | Second Amendment to the Praxair, Inc. Equalization Benefit Plan effective February 28, 2017,(Filed as Exhibit 10.05j to Praxair, Inc.'s 2016 Annual Report on Form 10-K, Filing No. 1-11037, and is incorporated herein by reference). |
| *10.07c | Third Amendment to the Praxair, Inc. Equalization Benefit Plan effective December 1, 2017 (Filed as Exhibit 10.05k to Praxair, Inc.'s 2017 Annual Report on Form 10-K, File No. 1-11037, and is incorporated herein by reference). |
| *10.07d | Fourth Amendment to the Praxair, Inc. Supplemental Retirement Income Plan B effective December 1, 2017 (Filed as Exhibit 10.05l to Praxair, Inc.’s 2017 Annual Report on Form 10-K, File No. 1-11037, and is incorporated herein by reference). |
| *10.07e | Third Amendment to the Praxair, Inc. Supplemental Retirement Income Plan A effective December 1, 2017 (Filed as Exhibit 10.05m to Praxair, Inc.’s 2017 Annual Report on Form 10-K, File No. 1-11037, and is incorporated herein by reference). |
| *10.07f | Praxair, Inc. 2018 Equalization Benefit Plan (Filed as Exhibit 99.1 to Praxair, Inc.’s Current Report on Form 8-K filed on October 22, 2018, File No. 1-11037, and incorporated herein by reference). |
| *10.07g | Praxair, Inc. 2018 Supplemental Retirement Income Plan A (Filed as Exhibit 99.2 to Praxair, Inc.’s Current Report on Form 8-K filed on October 22, 2018, File No. 1-11037, and incorporated herein by reference). |
| *10.07h | Praxair, Inc. 2018 Supplemental Retirement Income Plan B (Filed as Exhibit 99.3 to Praxair, Inc.’s Current Report on Form 8-K, filed October 22, 2018, File No. 1-11037, and incorporated herein by reference). |
| *10.08 | Praxair, Inc. Director’s Fees Deferral Plan amended and restated effective January 26, 2010 (Filed as Exhibit 10.06 to Praxair Inc.’s 2009 Annual Report on Form 10-K, Filing No. 1-11037, and incorporated herein by reference). |
| *10.09 | Praxair, Inc. Compensation Deferral Program Amended and Restated as of July 15, 2014 (Filed as Exhibit 10.01 to Praxair, Inc.'s Quarterly Report on Form 10-Q for the quarter ended September 30, 2014, Filing No. 1-11037, and incorporated herein by reference). |
First 8 of 14 rows. The CSV has all of them.
| *10.11d | First Amendment, dated as of April 25, 2017, to the Amended and Restated 2009 Praxair, Inc. Long Term Incentive Plan (Filed as Exhibit 10.01 to Praxair, Inc.'s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, Filing No. 1-11037, and is incorporated herein by reference). |
| *10.11e | Form of Transferable Option Award under the Amended and Restated 2009 Praxair, Inc. Long Term Incentive Plan for grants made in 2015-2017 (Filed as Exhibit 10.26 to Praxair, Inc.'s 2014 Annual Report on Form 10-K, Filing No. 1-11037, and incorporated herein by reference). |
| *10.11f | Form of Transferable Option Award under the Amended and Restated 2009 Praxair, Inc. Long Term Incentive Plan for grants made in 2018 (Filed as Exhibit 10.26a to Praxair, Inc.’s 2017 Annual Report on Form 10-K, File No. 1-11037, and incorporated herein by reference). |
| *10.11g | Form of Restricted Stock Unit Award under the Amended and Restated 2009 Praxair, Inc. Long Term Incentive Plan for grants made in 2015 and thereafter (Filed as Exhibit 10.27 to Praxair, Inc.'s 2014 Annual Report on Form 10-K, Filing No. 1-11037, and incorporated herein by reference). |
| *10.11h | Form of Restricted Stock Unit Award under the Amended and Restated 2009 Praxair, Inc. Long Term Incentive Plan for grants made in 2018 (Filed as Exhibit 10.27a to Praxair, Inc.’s 2017 Annual Report on Form 10-K, File No. 1-11037, and incorporated herein by reference). |
| *10.11i | Form of Performance Share Unit Award under the Amended and Restated 2009 Praxair, Inc. Long Term Incentive Plan for grants made in 2015 and thereafter with Earnings Per Share performance metrics (Filed as Exhibit 10.28A to Praxair, Inc.'s 2014 Annual Report on Form 10-K, Filing No. 1-11037, and incorporated herein by reference). |
| *10.11j | Form of Performance Share Unit Award under the Amended and Restated 2009 Praxair, Inc. Long Term Incentive Plan for grants made in 2016-2017 with Total Shareholder Return performance metrics (Filed as Exhibit 10.28C to Praxair, Inc.'s 2015 Annual Report on Form 10-K, Filing No. 1-11037, and incorporated herein by reference). |
| *10.11k | Form of Non-Employee Director Restricted Stock Unit Award under the Amended and Restated 2009 Praxair, Inc. Long Term Incentive Plan (Filed as Exhibit 10.01 to Praxair, Inc.'s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, Filing No. 1-11037, and incorporated herein by reference. |
First 8 of 23 rows. The CSV has all of them.
| 21.01 | Subsidiaries of Linde plc |
| 23.01 | Consent of Independent Registered Public Accounting Firm. |
| 31.01 | Rule 13a-14(a) Certification |
| 31.02 | Rule 13a-14(a) Certification |
| 32.01 | Section 1350 Certification (such certifications are furnished for the information of the Commission and shall not be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act). |
| 32.02 | Section 1350 Certification (such certifications are furnished for the information of the Commission and shall not be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act). |
| 101.INS | XBRL Instance Document |
| 101.SCH | XBRL Taxonomy Extension Schema |
First 8 of 12 rows. The CSV has all of them.