Stock Analysis on Net
Stock Analysis on Net

Linde plc (NASDAQ:LIN)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Paying user area

Try for free

Linde plc pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Linde plc, consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Accounts payable
Short-term debt
Current portion of long-term debt
Contract liabilities
Accrued taxes
Accrued expenses
Payroll
VAT payable
Pension and postretirement
Interest payable
Current operating lease liabilities
Current finance lease liabilities
Insurance reserves
Unrealized losses on derivatives
Contingent liabilities
Cost reduction programs and other charges
Other
Other current liabilities
Current liabilities
Long-term debt, excluding current portion
Pension and postretirement
Tax liabilities for uncertain tax positions
Tax Act liabilities
Long-term operating lease liabilities
Long-term finance lease liabilities
Interest and penalties for uncertain tax positions
Insurance reserves
Asset retirement obligation
Unrealized losses on derivatives
Cost reduction programs and other charges
Contingent liabilities
Other
Other long-term liabilities
Deferred income taxes
Contract liabilities
Deferred credits
Long-term liabilities
Total liabilities
Redeemable noncontrolling interests
Ordinary shares, €0.001 par value
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Treasury shares, at cost
Total Linde plc shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-K (reporting date: 2025-12-31), 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).

Overall, the company’s total liabilities and equity experienced fluctuations between 2021 and 2025, with a notable increase in total liabilities, particularly towards the end of the period. While total equity decreased initially, it stabilized in later years. A more detailed examination of specific liability and equity components reveals several key trends.

Current Liabilities
Current liabilities demonstrated volatility throughout the period, peaking in 2022 at US$16,479 million before decreasing to US$14,544 million in 2024, and then increasing again to US$15,198 million in 2025. Accounts payable remained relatively stable, fluctuating between US$2,507 million and US$3,503 million. A significant increase in short-term debt was observed between 2021 and 2023, followed by a slight decrease in 2024 and a further increase in 2025. Contract liabilities experienced a substantial decline from 2022 to 2024, before a modest recovery in 2025. Other current liabilities remained consistently high, fluctuating around US$4,000 million.
Long-Term Liabilities
Long-term liabilities generally increased over the five-year period, rising from US$22,521 million in 2021 to US$31,878 million in 2025. Long-term debt, excluding the current portion, exhibited a consistent upward trend, nearly doubling from US$11,335 million to US$20,683 million. Deferred income taxes remained relatively stable, fluctuating between US$5,556 million and US$6,239 million. Contingent liabilities were not reported in the earlier years but increased significantly in 2024 and 2025, reaching US$1,828 million.
Shareholders’ Equity
Total Linde plc shareholders’ equity decreased from US$44,035 million in 2021 to US$38,092 million in 2024, before a slight increase to US$38,245 million in 2025. Additional paid-in capital experienced a gradual decline throughout the period. Retained earnings decreased substantially from 2021 to 2023, then increased in 2024 and 2025, but did not return to the 2021 level. Accumulated other comprehensive loss consistently increased, becoming more negative over time. Treasury shares increased significantly in absolute value (negative equity) between 2021 and 2025.
Specific Liability Items
Interest payable showed a consistent increase over the period, rising from US$102 million to US$310 million, likely reflecting increased borrowing. Unrealized losses on derivatives also increased, particularly in 2024, suggesting potential exposure to derivative market fluctuations. Cost reduction programs and other charges remained relatively stable, with a slight increase in 2025.

In conclusion, the company experienced a growing reliance on debt financing, as evidenced by the increase in both short-term and long-term liabilities. While equity experienced a period of decline, it stabilized in the most recent year. The increasing levels of contingent liabilities and interest payable warrant further investigation.