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: 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 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Sales 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  2,595  2,686  2,738  2,757 
Cost of sales, exclusive of depreciation and amortization (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) (1,426) (1,488) (1,516) (1,530)
Gross margin 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  1,169  1,198  1,222  1,227 
Selling, general and administrative (770) (760) (861) (844) (850) (884) (879) (718) (294) (307) (310) (316) (304) (308) (279) (272) (291) (308) (274) (275) (281) (297) (299)
Depreciation and amortization (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) (275) (276) (278) (277)
Research and development (36) (34) (44) (49) (44) (45) (46) (42) (23) (24) (24) (24) (23) (23) (23) (23) (22) (24) (23) (23) (23) (23) (24)
Cost reduction programs and other charges (48) (249) (131) (212) (125) (141) (89) (235) (31) (24) (19) (17) (16) (15) (6) —  (100) —  —  —  (26) (146) — 
Net gain on sale of businesses —  —  —  —  164  —  —  3,294  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Other income (expense), net (29) —  15  29  11  10  18  (7) 13  17  (5) 7  (3) 6  (6) 13  11  4  (5) 28  2  2  (4)
Operating profit 969  591  733  655  1,000  669  609  3,236  669  689  653  636  626  604  582  599  497  588  554  624  594  480  623 
Interest expense, net (38) (18) (24) (8) 3  (10) (23) (72) (40) (44) (46) (41) (41) (38) (41) (38) (43) (44) (65) (42) (35) (40) (44)
Net pension and OPEB (cost) benefit, excluding service cost 41  45  45  25  (2) 24  (15) 14  (6) (2) (2) —  —  —  —  —  —  —  —  —  —  —  — 
Income from continuing operations before income taxes and equity investments 972  618  754  672  1,001  683  571  3,178  623  643  605  595  585  566  541  561  454  544  489  582  559  440  579 
Income taxes on continuing operations (265) (164) (165) (162) (298) (169) (140) (355) (156) (158) (148) (558) (162) (157) (149) (152) (120) (146) (133) (163) (156) (131) (162)
Income from continuing operations before equity investments 707  454  589  510  703  514  431  2,823  467  485  457  37  423  409  392  409  334  398  356  419  403  309  417 
Income from equity investments 23  29  17  24  28  28  34  14  13  14  15  12  12  11  12  10  10  11  10  12  10  10  11 
Income from continuing operations, including noncontrolling interests 730  483  606  534  731  542  465  2,837  480  499  472  49  435  420  404  419  344  409  366  431  413  319  428 
Income from discontinued operations, net of tax 1  —  2  4  7  9  89  117  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Net income, including noncontrolling interests 731  483  608  538  738  551  554  2,954  480  499  472  49  435  420  404  419  344  409  366  431  413  319  428 
Noncontrolling interests (31) (25) (35) (27) (3) (29) (37) 24  (19) (19) (10) (16) (16) (14) (15) (13) (5) (10) (10) (9) (12) (11) (12)
Net income, Linde plc 700  458  573  511  735  522  517  2,978  461  480  462  33  419  406  389  406  339  399  356  422  401  308  416 

Based on: 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), 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).

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 Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Operating profit The net result for the period of deducting operating expenses from operating revenues. Linde plc’s operating profit decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
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 decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
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 decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.