Linde plc, adjustment to net income, Linde plc

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 (as reported)	6,199)	4,147)	3,826)	2,501)	2,285)
Add: Securities	—)	—)	—)	—)	1)
Net income, Linde plc (adjusted)	6,199)	4,147)	3,826)	2,501)	2,286)

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Linde plc, adjusted profitability ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net Profit Margin
Reported net profit margin	18.87%	12.43%	12.42%	9.18%	8.09%
Adjusted net profit margin	18.87%	12.43%	12.42%	9.18%	8.10%
Return on Equity (ROE)
Reported ROE	15.61%	10.36%	8.69%	5.29%	4.66%
Adjusted ROE	15.61%	10.36%	8.69%	5.29%	4.66%
Return on Assets (ROA)
Reported ROA	7.67%	5.21%	4.69%	2.83%	2.64%
Adjusted ROA	7.67%	5.21%	4.69%	2.83%	2.64%

Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Linde plc adjusted net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	Linde plc adjusted ROE improved from 2021 to 2022 and from 2022 to 2023.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	Linde plc adjusted ROA improved from 2021 to 2022 and from 2022 to 2023.

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	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income, Linde plc	6,199)	4,147)	3,826)	2,501)	2,285)
Sales	32,854)	33,364)	30,793)	27,243)	28,228)
Profitability Ratio
Net profit margin¹	18.87%	12.43%	12.42%	9.18%	8.09%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income, Linde plc	6,199)	4,147)	3,826)	2,501)	2,286)
Sales	32,854)	33,364)	30,793)	27,243)	28,228)
Profitability Ratio
Adjusted net profit margin²	18.87%	12.43%	12.42%	9.18%	8.10%

2023 Calculations

¹ Net profit margin = 100 × Net income, Linde plc ÷ Sales
= 100 × 6,199 ÷ 32,854 = 18.87%

² Adjusted net profit margin = 100 × Adjusted net income, Linde plc ÷ Sales
= 100 × 6,199 ÷ 32,854 = 18.87%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Linde plc adjusted net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income, Linde plc	6,199)	4,147)	3,826)	2,501)	2,285)
Total Linde plc shareholders’ equity	39,720)	40,028)	44,035)	47,317)	49,074)
Profitability Ratio
ROE¹	15.61%	10.36%	8.69%	5.29%	4.66%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income, Linde plc	6,199)	4,147)	3,826)	2,501)	2,286)
Total Linde plc shareholders’ equity	39,720)	40,028)	44,035)	47,317)	49,074)
Profitability Ratio
Adjusted ROE²	15.61%	10.36%	8.69%	5.29%	4.66%

2023 Calculations

¹ ROE = 100 × Net income, Linde plc ÷ Total Linde plc shareholders’ equity
= 100 × 6,199 ÷ 39,720 = 15.61%

² Adjusted ROE = 100 × Adjusted net income, Linde plc ÷ Total Linde plc shareholders’ equity
= 100 × 6,199 ÷ 39,720 = 15.61%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	Linde plc adjusted ROE improved from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income, Linde plc	6,199)	4,147)	3,826)	2,501)	2,285)
Total assets	80,811)	79,658)	81,605)	88,229)	86,612)
Profitability Ratio
ROA¹	7.67%	5.21%	4.69%	2.83%	2.64%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income, Linde plc	6,199)	4,147)	3,826)	2,501)	2,286)
Total assets	80,811)	79,658)	81,605)	88,229)	86,612)
Profitability Ratio
Adjusted ROA²	7.67%	5.21%	4.69%	2.83%	2.64%

2023 Calculations

¹ ROA = 100 × Net income, Linde plc ÷ Total assets
= 100 × 6,199 ÷ 80,811 = 7.67%

² Adjusted ROA = 100 × Adjusted net income, Linde plc ÷ Total assets
= 100 × 6,199 ÷ 80,811 = 7.67%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	Linde plc adjusted ROA improved from 2021 to 2022 and from 2022 to 2023.

Linde plc (NASDAQ:LIN)

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