Stock Analysis on Net
Stock Analysis on Net
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Linde plc (NYSE:LIN)

Income Statement
Quarterly Data

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Linde plc, consolidated income statement (quarterly data)

US$ in millions

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3 months ended: Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 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
Sales 7,584  7,243  7,272  6,855  6,377  6,739  7,080  7,000  7,204  6,944  5,816  3,024  3,061  2,999  2,953  2,922  2,834  2,728  2,644  2,716  2,665  2,509 
Cost of sales, exclusive of depreciation and amortization (4,194) (4,054) (4,086) (3,835) (3,619) (3,843) (4,187) (4,061) (4,280) (4,116) (3,970) (1,714) (1,723) (1,677) (1,660) (1,652) (1,598) (1,545) (1,478) (1,533) (1,468) (1,381)
Gross margin 3,390  3,189  3,186  3,020  2,758  2,896  2,893  2,939  2,924  2,828  1,846  1,310  1,338  1,322  1,293  1,270  1,236  1,183  1,166  1,183  1,197  1,128 
Selling, general and administrative (822) (787) (802) (770) (760) (861) (844) (850) (884) (879) (718) (294) (307) (310) (316) (304) (308) (279) (272) (291) (308) (274)
Depreciation and amortization (1,171) (1,166) (1,192) (1,168) (1,124) (1,142) (1,162) (1,095) (1,195) (1,223) (902) (306) (311) (311) (307) (298) (292) (287) (285) (284) (281) (272)
Research and development (34) (35) (38) (36) (34) (44) (49) (44) (45) (46) (42) (23) (24) (24) (24) (23) (23) (23) (23) (22) (24) (23)
Cost reduction programs and other charges (204) 8  (78) (48) (249) (131) (212) (125) (141) (89) (235) (31) (24) (19) (17) (16) (15) (6) —  (100) —  — 
Net gain on sale of businesses —  —  —  —  —  —  —  164  —  —  3,294  —  —  —  —  —  —  —  —  —  —  — 
Other income (expense), net (17) 4  (47) (29) —  15  29  11  10  18  (7) 13  17  (5) 7  (3) 6  (6) 13  11  4  (5)
Operating profit 1,142  1,213  1,029  969  591  733  655  1,000  669  609  3,236  669  689  653  636  626  604  582  599  497  588  554 
Interest expense, net (18) (20) (35) (38) (18) (24) (8) 3  (10) (23) (72) (40) (44) (46) (41) (41) (38) (41) (38) (43) (44) (65)
Net pension and OPEB (cost) benefit, excluding service cost 49  49  46  41  45  45  25  (2) 24  (15) 14  (6) (2) (2) —  —  —  —  —  —  —  — 
Income from continuing operations before income taxes and equity investments 1,173  1,242  1,040  972  618  754  672  1,001  683  571  3,178  623  643  605  595  585  566  541  561  454  544  489 
Income taxes on continuing operations (334) (268) (253) (265) (164) (165) (162) (298) (169) (140) (355) (156) (158) (148) (558) (162) (157) (149) (152) (120) (146) (133)
Income from continuing operations before equity investments 839  974  787  707  454  589  510  703  514  431  2,823  467  485  457  37  423  409  392  409  334  398  356 
Income from equity investments 37  43  16  23  29  17  24  28  28  34  14  13  14  15  12  12  11  12  10  10  11  10 
Income from continuing operations, including noncontrolling interests 876  1,017  803  730  483  606  534  731  542  465  2,837  480  499  472  49  435  420  404  419  344  409  366 
Income from discontinued operations, net of tax 1  1  1  1  —  2  4  7  9  89  117  —  —  —  —  —  —  —  —  —  —  — 
Net income, including noncontrolling interests 877  1,018  804  731  483  608  538  738  551  554  2,954  480  499  472  49  435  420  404  419  344  409  366 
Noncontrolling interests (36) (38) (34) (31) (25) (35) (27) (3) (29) (37) 24  (19) (19) (10) (16) (16) (14) (15) (13) (5) (10) (10)
Net income, Linde plc 841  980  770  700  458  573  511  735  522  517  2,978  461  480  462  33  419  406  389  406  339  399  356 

Based on: 10-Q (filing date: 2021-07-30), 10-Q (filing date: 2021-05-06), 10-K (filing date: 2021-03-01), 10-Q (filing date: 2020-11-05), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-07), 10-K (filing date: 2020-03-02), 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).

Income statement item Description The company
Sales Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Linde plc’s sales decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level.
Operating profit The net result for the period of deducting operating expenses from operating revenues. Linde plc’s operating profit increased from Q4 2020 to Q1 2021 but then slightly decreased from Q1 2021 to Q2 2021.
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 increased from Q4 2020 to Q1 2021 but then slightly decreased from Q1 2021 to Q2 2021.
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 increased from Q4 2020 to Q1 2021 but then slightly decreased from Q1 2021 to Q2 2021 not reaching Q4 2020 level.