27 unchanged sentences
Because a significant portion of Linde's revenue is denominated in currencies other than its reporting currency, the U.S.
−Removed: dollar, changes in exchange rates will produce fluctuations in revenue, costs and earnings and may also affect the book
−Removed: value of assets and liabilities and related equity.
−Removed: Although the company from time to time utilizes foreign exchange forward contracts to hedge these exposures, its efforts to minimize currency exposure through such hedging transactions may not be successful depending on market and business conditions.
+Added: dollar, changes in exchange rates will produce fluctuations in revenue, costs and earnings and may also affect the book value of assets and liabilities and related equity.
+Added: Although the company from time to time utilizes foreign exchange
+Added: forward contracts to hedge these exposures, its efforts to minimize currency exposure through such hedging transactions may not be successful depending on market and business conditions.
As a result, fluctuations in foreign currency exchange rates could adversely affect Linde’s financial condition, results of operations or cash flows.
44 unchanged sentences
These systems are susceptible to outages due to fire, flood, power loss, telecommunications failures, viruses, break-ins and similar events, or breaches of security.
−Removed: Linde has taken steps to address these risks and concerns by implementing advanced security technologies, internal controls, network and data center resiliency and recovery process.
+Added: Linde has taken steps to address these risks and concerns by implementing advanced security technologies, internal controls, network and data center resiliency and recovery processes.
Despite these steps, however, our information technology systems have in the past been and in the future will likely be subject to increasingly sophisticated cyber attacks.
21 unchanged sentences
tax laws and currency controls;
−Removed: • securities laws applicable in the United States, the European Union, Germany, Ireland, and other jurisdictions;
+Added: • securities laws applicable in the United States, the European Union, and other jurisdictions;
• trade and import/export restrictions, as well as economic sanctions laws;
59 unchanged sentences
tax-resident companies would directly affect Linde.
+Added: This includes the Organization for Economic Cooperation & Development's (“OECD”) framework for a 15% global minimum tax rate (“Pillar Two”).
+Added: and a majority of EU member states implemented Pillar Two effective January 1, 2024.
+Added: The OECD continues to issue additional guidance as countries adopt legislation.
+Added: Linde continues to monitor and evaluate enacted and pending legislation in the jurisdictions in which it operates, as such changes could result in an increase in our effective tax rate.
A change in Linde’s tax residency could have a negative effect on the company’s future profitability and may trigger taxes on dividends or exit charges.
12 unchanged sentences
The ultimate tax outcome may differ from the amounts recorded in Linde’s or its subsidiaries’ financial statements and may materially affect their respective financial results for the period when such determination is made.
−Removed: Following the Reorganization, New Linde will seek Irish High Court approval for the creation of distributable reserves.
−Removed: New Linde expects this will be forthcoming, but cannot guarantee this, and until distributable reserves of New Linde are created, New Linde will be unable to make distributions by way of dividends, share repurchases or otherwise under Irish law.
−Removed: Under Irish law, dividends may only be paid and share repurchases and redemptions must generally be funded only out of “distributable reserves,” which New Linde will not have immediately following the Reorganization.
−Removed: The creation of distributable reserves of New Linde involves a reduction in New Linde’s undenominated share capital which requires the approval of the Irish High Court.
−Removed: The approval of the Irish High Court is expected within eight weeks following the Reorganization becoming effective.
−Removed: This approval is the same process successfully followed by Linde immediately after the Linde AG – Praxair, Inc.
−Removed: merger in 2018.
−Removed: New Linde is not aware of any reason why the Irish High Court would not approve the creation of distributable reserves in this manner;
−Removed: however, the issuance of the required order is a matter for the discretion of the Irish High Court.
−Removed: In the event that distributable reserves of New Linde are not created, no distributions by way of dividends, share repurchases or otherwise will be permitted under Irish law until such time as New Linde has created sufficient distributable reserves from its business activities, except that New Linde will be able to pay any dividends declared by the company prior to the Reorganization becoming effective.
−Removed: UNRESOLVED STAFF COMMENTS
−Removed: Linde has received no written SEC staff comments regarding any of its Exchange Act reports which remain unresolved.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.