Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Linde plc (NYSE:LIN)

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Analysis of Debt

Advanced level

Total Debt (Carrying Amount)

Linde plc, balance sheet: debt

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Short-term debt
Current portion of long-term debt
Long-term debt, excluding current portion
Total debt (carrying amount)

Based on: 10-K (filing date: 2020-03-02), 10-K (filing date: 2019-03-18), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-02-24).

Debt item Description The company
Total debt (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Linde plc’s total debt increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Dec 31, 2019
Selected Financial Data (US$ in millions)
Short-term debt
Long-term debt, including current portion
Total debt (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (filing date: 2020-03-02).


Weighted-average Interest Rate on Debt

Weighted-average interest rate on debt:

Interest Rate Debt Amount1 Interest Rate × Debt Amount Weighted-average Interest Rate2
Total

Based on: 10-K (filing date: 2020-03-02).

1 US$ in millions

2 Weighted-average interest rate = 100 × ÷ =


Interest Costs Incurred

Linde plc, interest costs incurred

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Interest expense, net
Interest capitalized
Interest incurred on debt

Based on: 10-K (filing date: 2020-03-02), 10-K (filing date: 2019-03-18), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-02-24).

Debt item Description The company
Interest expense, net Amount of the cost of borrowed funds accounted for as interest expense for debt. Linde plc’s interest expense, net increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.
Interest capitalized Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. Linde plc’s interest capitalized decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.
Interest incurred on debt Total interest costs incurred during the period and either capitalized or charged against earnings. Linde plc’s interest incurred on debt increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net income, Linde plc
Add: Net income attributable to noncontrolling interest
Less: Income from discontinued operations, net of tax
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
 
Interest incurred on debt
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

Based on: 10-K (filing date: 2020-03-02), 10-K (filing date: 2019-03-18), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-02-24).

2019 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest incurred on debt
= ÷ =


Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). Linde plc’s adjusted interest coverage ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.