Stock Analysis on Net
Stock Analysis on Net

Linde plc (NYSE:LIN)

Cash Flow Statement
Quarterly Data

Beginner level

The cash flow statement provides information about a company’s cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company’s balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Linde plc, consolidated cash flow statement (quarterly data)

US$ in millions

Microsoft Excel LibreOffice Calc
3 months ended: 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
Net income, Linde plc 458  573  511  735  522  517  2,978  461  480  462  33  419  406  389  406  339  399  356  422  401  308  416 
Income from discontinued operations, net of tax and noncontrolling interests —  (2) (4) (7) (9) (82) (108) —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Noncontrolling interests from continuing operations 25  35  27  29  30  (33) 19  19  10  16  16  14  15  13  10  10  12  11  12 
Income from continuing operations, including noncontrolling interests 483  606  534  731  542  465  2,837  480  499  472  49  435  420  404  419  344  409  366  431  413  319  428 
Cost reduction programs and other charges, net of payments 199  40  120  (70) (119) (167) 20  14  (1) 10  11  (10) 93  —  —  (18) 135  — 
Amortization of merger-related inventory step-up —  —  —  —  10  368  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Tax Act income tax charge, net —  —  —  —  —  —  (61) —  —  —  394  —  —  —  —  —  —  —  —  —  —  — 
Depreciation and amortization 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 
Deferred income taxes (154) (107) (178) (15) (96) (14) (181) (16) (1) 11  114  (26) 26  22  17  (34) (5) 74  42  (31) 14 
Share-based compensation 32  43  31  26  22  16  22  19  17  15  16  16  12  14  14  10 
Net gain on sale of businesses, net of tax —  —  (108) —  —  —  (2,923) —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Accounts receivable (9) (109) 110  158  (132) (56) (3) 26  (65) (82) (9) 12  (46) (49) 11  17  (41) (20) 58  (13) (50)
Inventory (20) (62) (20) 12  (41) (32) 25  (19) (8) (2) (11) (6) (3) (2) (24) 19  (1) (7) (9) (9) (6)
Prepaid and other current assets 44  (92) (7) 11  (79) 40  (22) 44  (19) (2) (24) (27) (13) 38  (34) 15  (6) (33)
Payables and accruals 156  (183) 237  (164) (216) (31) 186  107  61  (67) 11  35  18  (42) 86  69  14  (77) (20) 43  (66)
Contract assets and liabilities, net (105) 176  122  68  (19) (84) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Working capital 66  (270) 442  85  (405) (282) 248  92  32  (170) (11) 17  (58) (106) 111  71  (27) (103) 44  25  (33) (120)
Pension contributions (24) (17) (25) (26) (25) (18) (70) (7) (6) (4) (5) (8) (3) (3) (3) (2) (4) (2) (2) (1) (1) (11)
Long-term assets, liabilities and other 38  (90) 196  44  (109) (165) 158  (23) (63) 50  (26) 52  (3) 88  (96) 18  38  (18) (91) 30  (87)
Adjustments to reconcile net income to net cash provided by operating activities 1,281  741  1,640  1,141  463  603  (1,532) 391  291  216  787  359  281  306  307  444  297  187  360  263  388  80 
Net cash provided by operating activities 1,764  1,347  2,174  1,872  1,005  1,068  1,305  871  790  688  836  794  701  710  726  788  706  553  791  676  707  508 
Capital expenditures (783) (803) (1,015) (959) (865) (843) (827) (380) (351) (325) (339) (320) (325) (327) (409) (376) (357) (323) (387) (405) (352) (397)
Acquisitions, net of cash acquired —  (41) (64) (21) 12  (152) (19) (6) —  —  (15) (16) (1) (1) (18) (20) (262) (63) (39) —  (38) (5)
Divestitures and asset sales, net of cash divested 149  231  136  271  1,234  3,455  5,831  62  13  17  33  75  238 
Cash acquired in merger transaction —  —  —  —  —  —  1,363  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Net cash (used for) provided by investing activities (634) (613) (943) (709) 381  2,460  6,348  (378) (289) (318) (346) (331) (313) (324) (410) (363) (613) (384) (351) (400) (152) (400)
Short-term debt borrowings (repayments), net (1,204) 3,149  455  (220) 522  (533) 330  (135) (275) 288  154  (196) (133) (24) (168) (149) 585  (77) (203) (73) (91) 38 
Long-term debt borrowings 1,640  16  44  10  23  22  —  —  —  11  17  10  898  740  753 
Long-term debt repayments (25) (53) (15) (257) (795) (516) (2,619) —  (2) (503) (423) (2) (2) (156) (42) (2) —  (726) (1) (497) (1) (501)
Issuances of ordinary shares 12  13  12  27  28  26  15  29  30  20  44  26  30  49  26  34  14  13  17  44 
Purchases of ordinary shares —  (1,828) (724) (684) (525) (725) (597) (1) (1) —  (1) —  —  (11) (95) (50) (51) (32) (21) (235) (234) (235)
Cash dividends, Linde plc shareholders (506) (511) (469) (471) (474) (477) (454) (238) (237) (237) (226) (225) (225) (225) (214) (214) (214) (214) (204) (203) (205) (207)
Excess tax benefit on share-based compensation —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  14 
Noncontrolling interest transactions and other (121) (27) (3) (35) (3,212) (10) (369) (11) (16) (6) (7) (1) (71) (13) 67  (13) (107) (2) (6) (19) (6)
Net cash provided by (used for) financing activities (204) 759  (700) (1,652) (4,434) (2,211) (3,696) (357) (516) (429) (473) (403) (384) (396) (411) (362) 249  (119) (410) (260) (527) (100)
Cash provided by operating activities —  —  (3) 63  48  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Cash used for investing activities —  —  (1) —  (1) (58) (23) —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Cash provided by financing activities —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Net cash provided by discontinued operations —  —  (3) 10  27  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Effect of exchange rate changes on cash and cash equivalents (179) 49  (77) (57) 19  (15) (51) (13) (7) 12  12  (8) (3) 24  (19) (16) (9) (17)
Change in cash and cash equivalents 927  1,314  581  (569) (3,099) 1,335  4,003  121  (66) (72) 10  72  16  (5) (103) 60  346  74  11  —  19  (9)

Based on: 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).

Cash flow statement item Description The company
Net cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Linde plc’s net cash provided by operating activities decreased from Q4 2019 to Q1 2020 but then increased from Q1 2020 to Q2 2020 not reaching Q4 2019 level.
Net cash (used for) provided by investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Linde plc’s net cash (used for) provided by investing activities increased from Q4 2019 to Q1 2020 but then slightly decreased from Q1 2020 to Q2 2020.
Net cash provided by (used for) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Linde plc’s net cash provided by (used for) financing activities increased from Q4 2019 to Q1 2020 but then slightly decreased from Q1 2020 to Q2 2020 not reaching Q4 2019 level.