Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Linde plc, consolidated balance sheet: assets

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash and cash equivalents	4,850)	4,664)	5,436)	2,823)	3,754)
Accounts receivable, net	4,622)	4,718)	4,559)	4,499)	4,167)
Contract assets	263)	196)	124)	134)	162)
Inventories	1,946)	2,115)	1,978)	1,733)	1,729)
Prepaid and other deferred charges	579)	583)	597)	527)	516)
VAT recoverable	177)	178)	225)	196)	261)
Unrealized gains on derivatives	302)	73)	24)	101)	110)
Assets held for sale	—)	—)	—)	—)	4)
Other	206)	93)	104)	146)	221)
Prepaid and other current assets	1,264)	927)	950)	970)	1,112)
Current assets	12,945)	12,620)	13,047)	10,159)	10,924)
Property, plant and equipment, net	24,775)	24,552)	23,548)	26,003)	28,711)
Finance lease right-of-use assets	189)	179)	146)	163)	155)
Property, plant and equipment, net, including finance lease right-of-use assets	24,964)	24,731)	23,694)	26,166)	28,866)
Equity investments	2,130)	2,190)	2,350)	2,619)	2,061)
Goodwill	25,937)	26,751)	25,817)	27,038)	28,201)
Other intangible assets, net	11,330)	12,399)	12,420)	13,802)	16,184)
Pension assets	1,106)	380)	661)	139)	55)
Insurance contracts	32)	38)	39)	46)	61)
Long-term receivables, net	28)	163)	164)	105)	201)
Operating lease right-of-use assets	800)	759)	726)	853)	935)
Deposits	73)	76)	52)	43)	47)
Investments carried at cost	106)	187)	184)	18)	23)
Deferred charges	58)	60)	66)	62)	96)
Deferred income taxes	428)	226)	230)	242)	268)
Unrealized gains on derivatives	4)	8)	4)	35)	90)
Other	206)	223)	204)	278)	217)
Other long-term assets	2,841)	2,120)	2,330)	1,821)	1,993)
Long-term assets	67,202)	68,191)	66,611)	71,446)	77,305)
Total assets	80,147)	80,811)	79,658)	81,605)	88,229)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

The analysis of the annual financial data reveals several significant trends in assets over the five-year period ending December 31, 2024.

Cash and Cash Equivalents: There was notable volatility in cash and cash equivalents. After a decline from $3,754 million in 2020 to $2,823 million in 2021, the figure rebounded sharply to $5,436 million in 2022. Subsequently, it slightly decreased to $4,664 million in 2023 but increased again to $4,850 million in 2024. This pattern suggests fluctuating liquidity management or changes in working capital requirements.
Accounts Receivable, Net: Accounts receivable showed a steady increase from $4,167 million in 2020 to a peak of $4,718 million in 2023, followed by a minor decline to $4,622 million in 2024. This indicates a gradual rise in credit sales or collection periods over the years, implying increased trade exposure but a recent slight tightening.
Contract Assets: The contract assets slightly decreased from $162 million in 2020 to $124 million in 2022 but increased sharply afterward, reaching $263 million by 2024. This significant rise suggests growing recognition of revenues from unbilled work or progress on long-term contracts.
Inventories: Inventories increased steadily from $1,729 million in 2020 to $2,115 million in 2023 before a slight reduction to $1,946 million in 2024. The trend indicates expansion in inventory holdings potentially tied to sales growth or supply chain adjustments.
Prepaid and Other Deferred Charges: These assets remained relatively stable with minor fluctuations, increasing slightly from $516 million in 2020 to $579 million in 2024, reflecting consistent levels of prepaid expenses and deferred costs.
VAT Recoverable: VAT recoverable showed a declining trend, falling from $261 million in 2020 to $177 million in 2024, which could indicate improved VAT collection or decreased VAT input claims.
Unrealized Gains on Derivatives: Unrealized gains on derivatives fluctuated significantly, decreasing sharply from $110 million in 2020 to $24 million in 2022 before recovering to $302 million by 2024, reflecting volatility in derivative instrument valuations and possibly changing hedging strategies or market conditions.
Current Assets: Current assets demonstrated an overall upward trend, starting at $10,924 million in 2020, peaking at $13,047 million in 2022, and ending at $12,945 million in 2024. This growth aligns with expansions in cash, receivables, and contract assets.
Property, Plant and Equipment (Net): Property, plant, and equipment (net) decreased from $28,711 million in 2020 to $23,548 million in 2022, then slightly increased to $24,775 million in 2024, indicating significant asset disposals or depreciation followed by modest reinvestment or asset accumulation.
Finance Lease Right-of-Use Assets: Finance lease assets experienced minor fluctuations, increasing from $155 million in 2020 to $189 million in 2024, consistent with new leasing arrangements or reclassification of assets.
Goodwill: Goodwill declined steadily from $28,201 million in 2020 to $25,937 million in 2024. This reduction could be due to impairment charges or divestitures affecting intangible goodwill balances.
Other Intangible Assets, Net: Other intangible assets decreased consistently from $16,184 million in 2020 to $11,330 million in 2024, indicating amortization or impairments over time.
Pension Assets: Pension assets rose markedly, particularly from 2022 onward, jumping from $55 million in 2020 to $1,106 million in 2024, reflecting improved pension fund performances or actuarial gains.
Long-term Assets and Total Assets: Long-term assets gradually decreased from $77,305 million in 2020 to $67,202 million in 2024. Consequently, total assets followed a downward trend from $88,229 million in 2020 to $80,147 million in 2024, indicating a contraction in the asset base possibly due to disposals, depreciation, or strategic realignment.

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Linde plc (NASDAQ:LIN)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items