Fourth Quarter 2023 Earnings Report
Non-GAAP Measures
Linde
LINDE PLC AND SUBSIDIARIES
SUMMARY NON-GAAP RECONCILIATIONS
(UNAUDITED)
The following adjusted amounts are Non-GAAP measures and are intended to supplement investors' understanding of the company's financial statements by providing measures which investors, financial analysts
and management use to help evaluate the company's operating performance. Items which the company does not believe to be indicative of ongoing business trends are excluded from these calculations so that
investors can better evaluate and analyze historical and future business trends on a consistent basis. Definitions of these Non-GAAP measures may not be comparable to similar definitions used by other
companies and are not a substitute for similar GAAP measures. See the "NON GAAP MEASURES AND RECONCILIATIONS" starting on page x for additional details relating to the adjustments.
(Millions of dollars, except per share amounts)
Quarter Ended December 31
Reported GAAP Amounts
Other charges (a)
Pension settlement charges (b)
Purchase accounting impacts - Linde AG (c)
Total adjustments
Adjusted amounts
Sales
Operating Profit
Net Income
Diluted EPS
2023
2022
2023
2022
2023
2022
2023
2022
$
8,302 $
7,899 $
2,028 $
1,687
$
1,543 $
1,328
$
(2)
25
(4)
16
3.16 $
(0.01)
2.67
0.03
3
0.01
246
289
211
230
0.43
0.46
244
314
210
246
0.43
0.49
$
8,302 $
7,899
$
2,272 $
2,001
$
1,753
$
1,574
$
3.59
$
3.16
(Millions of dollars, except per share amounts)
Sales
Operating Profit
Net Income
Diluted EPS
Year to Date December 31
2023
2022
2023
2022
2023
2022
2023
2022
Reported GAAP Amounts
$
32,854 $
33,364 $
Other charges (a)
8,024 $
40
5,369 $
1,029
6,199 $
(41)
Pension settlement charges (b)
13
4,147 $
893
5
12.59 $
8.23
(0.08)
1.77
0.03
0.01
Purchase accounting impacts - Linde AG (c)
Total adjustments
1,006
1,046
1,506
818
1,150
1.66
2.28
2,535
790
2,048
1.61
4.06
Adjusted amounts
$
32,854
$
33,364 $
9,070 $
7,904
$
6,989
$
6,195 $
14.20
$
12.29
(a) 2023 year to date charges related primarily to severance and delist charges, which were offset by a tax settlement. 2022 year to date charges related primarily to charges associated with the deconsolidation
and impairment of Russian subsidiaries resulting from the ongoing war in Ukraine and related sanctions.
(b) To adjust for pension settlement charges.
(c) To adjust for purchase accounting impacts related to the merger.
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