Supplemental Information (Tables)
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12 Months Ended |
Dec. 31, 2022 |
Supplemental Information [Abstract] |
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Schedule of Selling General and Administrative |
| | | | | | | | | | | | | | | | | | (Millions of dollars) Year Ended December 31, | 2022 | | 2021 | | 2020 | Selling, General and Administrative | | | | | | Selling | $ | 1,295 | | | $ | 1,342 | | | $ | 1,303 | | General and administrative | 1,812 | | | 1,847 | | | 1,890 | | | $ | 3,107 | | | $ | 3,189 | | | $ | 3,193 | |
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Schedule of Depreciation and Amortization |
| | | | | | | | | | | | | | | | | | Year Ended December 31, | 2022 | | 2021 | | 2020 | Depreciation and Amortization (a) | | | | | | Depreciation | $ | 3,633 | | | $ | 3,912 | | | $ | 3,861 | | Amortization of intangibles (Note 10) | 571 | | | 723 | | | 765 | | Depreciation and Amortization | $ | 4,204 | | | $ | 4,635 | | | $ | 4,626 | | Depreciation and amortization expense in 2022 include $1,006 million and $474 million, respectively, of Linde AG purchase accounting impacts. In 2021, depreciation and amortization expense include $1,245 million and $618 million, respectively, of Linde AG purchase accounting impacts.
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Schedule of Other Income (Expense) |
| | | | | | | | | | | | | | | | | | Year Ended December 31, | 2022 | | 2021 | | 2020 | Other Income (Expenses) – Net | | | | | | Currency related net gains (losses) | $ | (18) | | | $ | (29) | | | $ | (28) | | Partnership income | 18 | | | 13 | | | 10 | | | | | | | | Severance expense | (13) | | | (5) | | | (5) | | Asset divestiture gains (losses) – net | (9) | | | (31) | | | (78) | | Other – net | (40) | | | 26 | | | 40 | | | $ | (62) | | | $ | (26) | | | $ | (61) | |
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Schedule of Interest Expense |
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Year Ended December 31, | 2022 | | 2021 | | 2020 | Interest Expense – Net | | | | | | Interest incurred on debt and other | $ | 277 | | | $ | 227 | | | $ | 277 | | Interest income | (117) | | | (40) | | | (55) | | Amortization on acquired debt | (35) | | | (53) | | | (85) | | Interest capitalized | (62) | | | (57) | | | (38) | | Bond redemption (b) | — | | | — | | | 16 | | | $ | 63 | | | $ | 77 | | | $ | 115 | | In December 2020, the company repaid $500 million of 4.05% notes and $500 million of 3.00% notes that were due in 2021 resulting in a $16 million interest charge.
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Schedule of Noncontrolling Interests Income |
| | | | | | | | | | | | | | | | | | Year Ended December 31, | 2022 | | 2021 | | 2020 | Income Attributable to Noncontrolling Interests | | | | | | Noncontrolling interests' operations (c) | $ | 134 | | | $ | 135 | | | $ | 125 | | | | | | | | | | | | | | | | | | | | | | | | | | In 2022, 2021 and 2020 noncontrolling interests from continuing operations includes $22 million, $15 million and $57 million, respectively, of Linde AG purchase accounting impacts. The decrease in 2021 is primarily related to the deconsolidation of a joint venture with operations in APAC (see Note 2) and the buyout of minority interests in the Republic of South Africa (see Note 14).
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Schedule of Accounts Receivable |
| | | | | | | | | | | | (Millions of dollars) December 31, | 2022 | | 2021 | Accounts Receivable | | | | | | | | | | | | Trade and Other receivables | $ | 4,964 | | | $ | 4,904 | | Less: allowance for expected credit losses | (405) | | | (405) | | | $ | 4,559 | | | $ | 4,499 | |
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Schedule of Inventories |
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December 31, | | | 2022 | | 2021 | Inventories | | | | | | Raw materials and supplies | | | $ | 567 | | | $ | 399 | | Work in process | | | 368 | | | 334 | | Finished goods | | | 1,043 | | | 1,000 | | | | | $ | 1,978 | | | $ | 1,733 | |
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Schedule of Prepaid and Other Current Assets |
| | | | | | | | | | | | December 31, | 2022 | | 2021 | Prepaid and Other Current Assets | | | | | | | | Prepaid and other deferred charges (d) | $ | 597 | | | $ | 527 | | VAT recoverable | 225 | | | 196 | | Unrealized gains on derivatives (Note 12) | 24 | | | 101 | | Other | 104 | | | 146 | | | $ | 950 | | | $ | 970 | | Includes estimated income tax payments of $164 million in 2022 and $122 million in 2021.
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Schedule of Other Long-term Assets |
| | | | | | | | | | | | December 31, | 2022 | | 2021 | Other Long-term Assets | | | | Pension assets (Note 16) | $ | 661 | | | $ | 139 | | Insurance contracts (e) | 39 | | | 46 | | Long-term receivables, net (f) | 164 | | | 105 | | Lease assets (Note 4) | 872 | | | 1,016 | | Deposits | 52 | | | 43 | | Investments carried at cost (h) | 184 | | | 18 | | Deferred charges | 66 | | | 62 | | Deferred income taxes (Note 5) | 230 | | | 242 | | Unrealized gains on derivatives (Note 12) | 4 | | | 35 | | Other | 204 | | | 278 | | | $ | 2,476 | | | $ | 1,984 | | Consists primarily of insurance contracts and other investments to be utilized for non-qualified pension and OPEB obligations.The balances at December 31, 2022 and 2021 are net of reserves of $36 million and $33 million, respectively. The amounts in both years relate primarily to long-term notes receivable from customers in APAC and government receivables in Brazil. The amount in 2022 also includes receivables from the sale of GIST. In 2022 includes investments from the deconsolidation of Russian subsidiaries.
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Schedule of Other Current Liabilities |
| | | | | | | | | | | | December 31, | 2022 | | 2021 | Other Current Liabilities | | | | Accrued expenses | $ | 1,533 | | | $ | 1,248 | | Payroll | 614 | | | 710 | | VAT payable | 259 | | | 295 | | Pension and postretirement (Note 16) | 51 | | | 38 | | Interest payable | 118 | | | 102 | | Lease liability (Note 4) | 223 | | | 262 | | Insurance reserves | 19 | | | 19 | | Unrealized losses on derivatives (Note 12) | 23 | | | 27 | | | | | | Cost reduction programs (Note 3) | 187 | | | 200 | | Other | 1,055 | | | 998 | | | $ | 4,082 | | | $ | 3,899 | |
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Schedule of Other Long-term Liabilities |
| | | | | | | | | | | | December 31, | 2022 | | 2021 | Other Long-term Liabilities | | | | Pension and postretirement (Note 16) | $ | 640 | | | $ | 1,802 | | Tax liabilities for uncertain tax positions (Note 5) | 248 | | | 302 | | Tax Act liabilities for deemed repatriation (Note 5) | 139 | | | 178 | | | | | | Lease liability (Note 4) | 654 | | | 747 | | Interest and penalties for uncertain tax positions (Note 5) | 35 | | | 40 | | Insurance reserves | 52 | | | 56 | | Asset retirement obligation | 305 | | | 305 | | Unrealized losses on derivatives (Note 12) | 73 | | | 8 | | Cost reduction programs (Note 3) | 133 | | | 253 | | Other | 516 | | | 497 | | | $ | 2,795 | | | $ | 4,188 | |
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Schedule of Deferred Credits |
| | | | | | | | | | | | December 31, | 2022 | | 2021 | Deferred Credits | | | | Deferred income taxes (Note 5) | $ | 5,886 | | | $ | 6,239 | | Other | 913 | | | 759 | | | $ | 6,799 | | | $ | 6,998 | |
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Schedule of Accumulated Other Comprehensive Income (Loss) |
| | | | | | | | | | | | December 31, | 2022 | | 2021 | Accumulated Other Comprehensive Income (Loss) | | | | Cumulative translation adjustment - net of taxes: | | | | Americas (g) | $ | (3,942) | | | $ | (3,985) | | EMEA (g) | (1,249) | | | 94 | | APAC (g) | (835) | | | 154 | | Engineering | (241) | | | 24 | | Other | 483 | | | (280) | | | (5,784) | | | (3,993) | | Derivatives – net of taxes | 62 | | | 75 | | | | | | | | | | Pension/OPEB funded status obligation (net of $54 million tax obligation in 2022 and $305 million tax benefit in 2021) (Note 16) | (60) | | | (1,130) | | | $ | (5,782) | | | $ | (5,048) | | Americas consists of currency translation adjustments primarily in Canada, Mexico, and Brazil. EMEA relates primarily to Germany, the U.K. and Sweden. APAC relates primarily to China, South Korea, India and Australia.
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