Cash Flow Statement

The cash flow statement provides information about a company 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 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

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income, Linde plc	6,199)	4,147)	3,826)	2,501)	2,285)
Income from discontinued operations, net of tax and noncontrolling interests	—)	—)	(5)	(4)	(102)
Noncontrolling interests from continuing operations	142)	134)	135)	125)	89)
Income from continuing operations, including noncontrolling interests	6,341)	4,281)	3,956)	2,622)	2,272)
Other charges, net of payments	(118)	902)	98)	258)	(236)
Amortization of merger-related inventory step-up	—)	—)	—)	—)	12)
Depreciation and amortization	3,816)	4,204)	4,635)	4,626)	4,675)
Deferred income taxes	(84)	(383)	(254)	(369)	(303)
Share-based compensation	141)	107)	128)	133)	95)
Net gain on sale of businesses, net of tax	—)	—)	—)	—)	(108)
Non-cash charges and other	43)	(49)	(19)	152)	(127)
Accounts receivable	(86)	(423)	(553)	19)	80)
Contract assets and liabilities, net	(168)	310)	1,307)	90)	87)
Inventory	(127)	(347)	(129)	18)	(81)
Prepaid and other current assets	66)	(157)	76)	128)	(72)
Payables and accruals	(168)	307)	447)	109)	(174)
Working capital	(483)	(310)	1,148)	364)	(160)
Pension contributions	(46)	(51)	(42)	(91)	(94)
Long-term assets, liabilities and other	(305)	163)	75)	(266)	93)
Adjustments to reconcile net income to net cash provided by operating activities	2,964)	4,583)	5,769)	4,807)	3,847)
Net cash provided by operating activities	9,305)	8,864)	9,725)	7,429)	6,119)
Capital expenditures	(3,787)	(3,173)	(3,086)	(3,400)	(3,682)
Acquisitions, net of cash acquired	(953)	(110)	(88)	(68)	(225)
Divestitures and asset sales, net of cash divested	70)	195)	167)	482)	5,096)
Net cash (used for) provided by investing activities	(4,670)	(3,088)	(3,007)	(2,986)	1,189)
Short-term debt borrowings (repayments), net	554)	3,050)	(1,329)	1,198)	224)
Long-term debt borrowings	2,188)	3,210)	2,283)	2,796)	99)
Long-term debt repayments	(1,682)	(1,785)	(1,468)	(2,681)	(1,583)
Issuances of ordinary shares	33)	36)	50)	47)	72)
Purchases of ordinary shares	(3,958)	(5,168)	(4,612)	(2,457)	(2,658)
Cash dividends, Linde plc shareholders	(2,482)	(2,344)	(2,189)	(2,028)	(1,891)
Noncontrolling interest transactions and other	(53)	(88)	(323)	(220)	(3,260)
Net cash used for financing activities	(5,400)	(3,089)	(7,588)	(3,345)	(8,997)
Cash provided by operating activities	—)	—)	—)	—)	69)
Cash used for investing activities	—)	—)	—)	—)	(60)
Cash provided by financing activities	—)	—)	—)	—)	5)
Net cash provided by discontinued operations	—)	—)	—)	—)	14)
Effect of exchange rate changes on cash and cash equivalents	(7)	(74)	(61)	(44)	(77)
Change in cash and cash equivalents	(772)	2,613)	(931)	1,054)	(1,752)
Cash and cash equivalents, beginning-of-period	5,436)	2,823)	3,754)	2,700)	4,466)
Cash and cash equivalents, including discontinued operations	4,664)	5,436)	2,823)	3,754)	2,714)
Cash and cash equivalents of discontinued operations	—)	—)	—)	—)	(14)
Cash and cash equivalents, end-of-period	4,664)	5,436)	2,823)	3,754)	2,700)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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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 net cash provided by operating activities decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 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 net cash (used for) provided by investing activities decreased from 2021 to 2022 and from 2022 to 2023.
Net cash 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 net cash used for financing activities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

Linde plc (NASDAQ:LIN)

Cash Flow Statement