Linde (LIN) risk factors, FY2025 10-K

Linde's FY2025 10-K, filed Feb 25, 2026, lists 19 risk factors. Against the prior year's 18: 1 new, 2 substantially reworded.

Open LIN in Gloom →
Linde's chart, financials and news, free in your browser.Open LIN in Gloom →
Risk factors listed
191 groups
New this year
1vs 18 last year
Dropped
0since the prior 10-K
Substantially reworded
2of those kept
Section length
4k wordsItem 1A

What the changes say

  • New risk 12 expands acquisition and joint-venture exposure to country-specific political, regulatory, currency and integration risks.
  • Risk 6 now links extreme weather to climate change and adds potential asset impairments.
  • Acquisition integration and joint-venture execution remain prominent risks in 11, while 12 adds consequences for debt, goodwill and intangible assets.

What changed since the prior 10-K

New

  • NewRisks related to pension benefit plans may adversely impact Linde’s results of operations and cash flows

    Foreign acquisitions and joint ventures involve unique risks in addition to those mentioned herein, including those related to integration of operations across different cultures and languages, currency risks and the particular economic, political and regulatory risks associated with specific countries

    Foreign acquisitions and joint ventures may fail to deliver benefits and could create country, currency, integration, debt, impairment and liability risks.

Reworded

  • 48% rewritten

    Catastrophic events could disrupt the operations of Linde and/or its customers and suppliers and may have a significant adverse impact on the results of operations

    The risk now explicitly covers climate-change-linked physical hazards and asset impairments, while the prior mitigation discussion is absent.

  • 31% rewrittenRisks related to pension benefit plans may adversely impact Linde’s results of operations and cash flows

    The inability to effectively integrate acquisitions or collaborate with joint venture partners could adversely impact Linde’s financial position and results of operations

    The provided excerpts show the same acquisition-integration concerns—controls, management distraction and cultural challenges—with no clear substantive change visible.

All 19 risk factors

Headings as the filing states them, in filing order.

Other

  1. 01Weakening economic conditions in markets in which Linde does business may adversely impact its financial results and/or cash flows
  2. 02Increases in the cost of energy and raw materials and/or disruption in the supply of these materials could result in lost sales or reduced profitability
  3. 03Linde’s international operations are subject to the risks of doing business abroad and international events and circumstances may adversely impact its business, financial condition or results of operations
  4. 04Currency exchange rate fluctuations and other related risks may adversely affect Linde's results
  5. 05Macroeconomic factors may impact Linde’s ability to obtain financing or increase the cost of obtaining financing which may adversely impact Linde’s financial results and/or cash flows
  6. 06An impairment of goodwill or intangible assets could negatively impact the company's financial results
  7. 07Catastrophic events could disrupt the operations of Linde and/or its customers and suppliers and may have a significant adverse impact on the results of operations48% rewritten
  8. 08The inability to attract and retain qualified personnel may adversely impact Linde’s business
  9. 09If Linde fails to keep pace with technological advances in the industry or if new technology initiatives do not become commercially accepted, customers may not continue to buy Linde’s products and results of operations could be adversely affected

Risks related to pension benefit plans may adversely impact Linde’s results of operations and cash flows

  1. 10Operational risks may adversely impact Linde’s business or results of operations
  2. 11Linde may be subject to information technology system failures, network disruptions and cybersecurity breaches or other related incidents
  3. 12The inability to effectively integrate acquisitions or collaborate with joint venture partners could adversely impact Linde’s financial position and results of operations31% rewritten
  4. 13Foreign acquisitions and joint ventures involve unique risks in addition to those mentioned herein, including those related to integration of operations across different cultures and languages, currency risks and the particular economic, political and regulatory risks associated with specific countriesNew
  5. 14Linde is subject to a variety of international laws and government regulations and changes in, or failure to comply with, these laws or regulations could have an adverse impact on the company’s business, financial position and results of operations
  6. 15The outcome of litigation or governmental investigations may adversely impact the company’s business or results of operations
  7. 16Risks associated with products and services may result in potential liability claims, the loss of customers or damage to Linde’s reputation. Principal possible causes of risks associated with products and services are product defects or an inadequate level of customer care when Linde is providing services
  8. 17U.S. civil liabilities may not be enforceable against Linde
  9. 18An Irish court will also exercise its right to refuse judgment if the foreign judgment (i) was obtained by fraud; (ii) violated Irish public policy; (iii) is in breach of natural justice; or (iv) if the judgment is irreconcilable with an earlier foreign judgment
  10. 19Changes in tax laws or policy could adversely impact the company’s financial position or results of operations

Other Linde 10-Ks

  • FY2024 10-K risk factors
    18 risks

    Linde faces heavy exposure to energy cost volatility and supply disruptions since energy is its largest production expense. International operations across 80 countries expose Linde to severe currency, geopolitical, and trade regulatory risks. Goodwill and intangible assets totaling $28 billion create significant impairment vulnerability if market conditions deteriorate.

    Filed Feb 26, 2025

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.