Linde plc (LIN)


Common-Size Income Statement
Quarterly Data

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Linde plc, common-size consolidated income statement (quarterly data)

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3 months ended Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Sales 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Cost of sales, exclusive of depreciation and amortization -58.01 -59.41 -59.27 -68.26 -56.68 -56.29 -55.92 -56.21 -56.54 -56.39 -56.63 -55.90 -56.44 -55.08 -55.04 -54.95 -55.40 -55.37 -55.50 -56.49 -56.62 -56.76 -57.04
Gross margin 41.99% 40.59% 40.73% 31.74% 43.32% 43.71% 44.08% 43.79% 43.46% 43.61% 43.37% 44.10% 43.56% 44.92% 44.96% 45.05% 44.60% 44.63% 44.50% 43.51% 43.38% 43.24% 42.96%
Selling, general and administrative -12.14 -12.27 -12.66 -12.35 -9.72 -10.03 -10.34 -10.70 -10.40 -10.87 -10.23 -10.29 -10.71 -11.56 -10.92 -10.60 -10.46 -10.85 -10.85 -10.70 -10.40 -10.76 -10.77
Depreciation and amortization -15.64 -16.59 -17.61 -15.51 -10.12 -10.16 -10.37 -10.40 -10.20 -10.30 -10.52 -10.78 -10.46 -10.54 -10.84 -10.60 -10.28 -10.15 -10.05 -9.73 -9.57 -9.41 -9.42
Research and development -0.63 -0.62 -0.66 -0.72 -0.76 -0.78 -0.80 -0.81 -0.79 -0.81 -0.84 -0.87 -0.81 -0.90 -0.92 -0.89 -0.86 -0.84 -0.87 -0.80 -0.80 -0.77 -0.76
Cost reduction programs and other charges -1.79 -1.96 -1.28 -4.04 -1.03 -0.78 -0.63 -0.58 -0.55 -0.53 -0.22 0.00 -3.68 0.00 0.00 0.00 -0.97 -5.33 0.00 -4.62 0.00 0.00 0.00
Net gain on sale of businesses 2.34 0.00 0.00 56.64 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other income (expense), net 0.16 0.14 0.26 -0.12 0.43 0.56 -0.17 0.24 -0.10 0.21 -0.22 0.49 0.41 0.15 -0.20 1.08 0.07 0.07 -0.15 -0.10 0.00 0.10 0.30
Operating profit 14.29% 9.29% 8.77% 55.64% 22.12% 22.51% 21.77% 21.54% 21.42% 21.31% 21.33% 22.66% 18.30% 22.06% 22.08% 24.05% 22.11% 17.53% 22.60% 17.56% 22.61% 22.39% 22.31%
Interest expense, net 0.04 -0.14 -0.33 -1.24 -1.32 -1.44 -1.53 -1.39 -1.40 -1.34 -1.50 -1.44 -1.58 -1.65 -2.59 -1.62 -1.30 -1.46 -1.60 -2.64 -1.43 -1.38 -1.52
Net pension and OPEB (cost) benefit, excluding service cost -0.03 0.33 -0.22 0.24 -0.20 -0.07 -0.07 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income from continuing operations before income taxes and equity investments 14.30% 9.48% 8.22% 54.64% 20.60% 21.01% 20.17% 20.15% 20.02% 19.97% 19.83% 21.22% 16.72% 20.41% 19.49% 22.43% 20.81% 16.07% 21.00% 14.92% 21.18% 21.01% 20.79%
Income taxes on continuing operations -4.26 -2.35 -2.02 -6.10 -5.16 -5.16 -4.93 -18.90 -5.54 -5.54 -5.46 -5.75 -4.42 -5.48 -5.30 -6.28 -5.81 -4.78 -5.88 -4.85 -5.95 -5.88 -5.82
Income from continuing operations before equity investments 10.04% 7.13% 6.21% 48.54% 15.44% 15.84% 15.24% 1.25% 14.48% 14.43% 14.37% 15.47% 12.30% 14.93% 14.19% 16.15% 15.00% 11.29% 15.13% 10.07% 15.24% 15.13% 14.97%
Income from equity investments 0.40 0.39 0.49 0.24 0.43 0.46 0.50 0.41 0.41 0.39 0.44 0.38 0.37 0.41 0.40 0.46 0.37 0.37 0.40 0.40 0.35 0.32 0.30
Income from continuing operations, including noncontrolling interests 10.44% 7.52% 6.70% 48.78% 15.87% 16.30% 15.74% 1.66% 14.89% 14.82% 14.81% 15.85% 12.67% 15.35% 14.59% 16.61% 15.38% 11.65% 15.52% 10.47% 15.59% 15.45% 15.27%
Income from discontinued operations, net of tax 0.10 0.12 1.28 2.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net income, including noncontrolling interests 10.54% 7.65% 7.98% 50.79% 15.87% 16.30% 15.74% 1.66% 14.89% 14.82% 14.81% 15.85% 12.67% 15.35% 14.59% 16.61% 15.38% 11.65% 15.52% 10.47% 15.59% 15.45% 15.27%
Noncontrolling interests -0.04 -0.40 -0.53 0.41 -0.63 -0.62 -0.33 -0.54 -0.55 -0.49 -0.55 -0.49 -0.18 -0.38 -0.40 -0.35 -0.45 -0.40 -0.44 -0.37 -0.41 -0.45 -0.46
Net income, Linde plc 10.50% 7.25% 7.45% 51.20% 15.24% 15.68% 15.41% 1.12% 14.34% 14.33% 14.26% 15.36% 12.48% 14.97% 14.19% 16.26% 14.93% 11.25% 15.09% 10.10% 15.17% 15.00% 14.81%

Based on: 10-Q (filing date: 2019-11-12), 10-Q (filing date: 2019-08-09), 10-Q (filing date: 2019-05-10), 10-K (filing date: 2019-03-18), 10-Q (filing date: 2018-11-09), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-03-01), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-29), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-04-29), 10-K (filing date: 2015-02-25), 10-Q (filing date: 2014-10-29), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-23).

Income statement item Description The company
Operating profit The net result for the period of deducting operating expenses from operating revenues. Linde plc’s operating profit as a percentage of sales increased from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
Income from continuing operations before income taxes and equity investments Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Linde plc’s income from continuing operations before income taxes and equity investments as a percentage of sales increased from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
Net income, Linde plc The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Linde plc’s net income, Linde plc as a percentage of sales decreased from Q1 2019 to Q2 2019 but then increased from Q2 2019 to Q3 2019 exceeding Q1 2019 level.