Fourth Quarter 2023 Earnings Report
Non-GAAP Measures, continued
Linde
(Millions of dollars)
Reported net income - Linde plc
Add: noncontrolling interests.
Add: interest expense - net
2023
2022
Q4
Q3
Q2
Q1
Q4
Q3
Q2
Q1
$
1,543 $
33
1,565 $
36
1,575 $
1,516 $
1,328 $
1,273 $
372 $
37 $
36
33
27
38
1,174
36
71
40
52 $
37
31
18
5
9
Less: tax benefit on interest expense - net *
Reported NOPAT
(16)
(12)
(12)
(9)
(7)
(5)
(1)
(2)
$
1,631 $
1,629 $
1,652 $
1,580 $
1,385 $
1,313 $
414 $
1,217
Adjusted net income - Linde plc
$
1,753 $
1,783 $
1,760 $
1,693 $
1,574 $
1,555 $
1,566 $
1,500
Add: adjusted noncontrolling interests
36
39
40
39
36
39
41
40
Add: adjusted interest expense - net
72
42
56
46
39
26
14
19
Less: tax benefit on interest expense net *
(17)
(13)
(13)
(11)
(9)
(7)
(3)
(5)
Adjusted NOPAT
$
1,844 $
1,851 $
1,843 $
1,767 $
1,640 $
1,613 $
1,618 $
1,554
4-quarter trailing reported NOPAT
4-quarter trailing adjusted NOPAT
$
6,492 $
6,246 $
5,930 $
4,692 $
4,329 $
4,021 $
3,723 $
$
7,305 $
7,101 $
6,863 $
6,638 $
6,425 $
6,281 $
6,137 $
4,198
5,997
*Tax benefit on interest expense - net is generally presented using the reported effective rate.
Equity and redeemable noncontrolling interests:
Redeemable noncontrolling interests
$
Linde plc shareholders' equity
13 $
39,720
13 $
13 $
13 $
Noncontrolling interests
1,362
38,898
1,327
39,911
1,324
Total equity and redeemable noncontrolling interests
$
41,095 $
40,238 $
41,248 $
39,970
1,353
41,336 $
13 $
40,028
1,346
41,387 $
13 $
37,628
1,298
38,939 $
13 $
13
39,674
1,353
42,963
1,414
41,040 $
44,390
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