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31	31	For the year ended on December 31, 2021, the company reported sales of $30,793 million, which is 13% above 2020 sales of $27,243 million. Volume growth across all end markets and project start-ups increased sales by 8% . Higher pricing across all geographic segments contributed 3% to sales. Favorable currency translation and higher cost pass-through increased sales by 5%, partially offset by the deconsolidation of a joint venture with operations in APAC which decreased sales by 3%. Reported operating profit of $4,984 million was 50% above that of 2020. Adjusted operating profit of $7,176 million was 24% above 2020. The increase in both reported and adjusted operating profit was primarily driven by higher volume and price and the benefit of cost reduction programs and other charges and productivity initiatives, partially offset by the deconsolidation of a joint venture with operations in APAC. Income from continuing operations of $3,821 million and diluted earnings per share (EPS) from continuing operations of $7.32 increased from $2,497 million and $4.70, respectively in 2020. Cash flow from operations of $9,725 million was 31% above 2020. Capital expenditures were $3,086 million; dividends paid were $2,189 million; net purchases of ordinary shares of $4,562 million; and debt repayments, net were $514 million.
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33		-Cash a cash equivalents position of the company has depleted from $3,754 million on December 31, 2020 to $2,823 million on December 31, 2021. Owing to the increase in accounts receivables, the company reports approximately same total current assets during the two financial years - $10,159 million and $10,924 million, respectively. Total assets of the company is reported $81,605 million and $88,229 million, respectively. Total current liabilities during the years are $13,643 million and $13,740 million, respectively. As on December 31, 2021, the company had 1,750,000,000 shares with par value of €0.001, and of it 552,012,862 shares were issued. Retained earnings of the company has increased from $17,178 million to $18,710 million. Also, accumulated other comprehensive losses increased from $4,690 million to $5,048 million during the year.
	33	+Cash a cash equivalents position of the company has depleted from $3,754 million on December 31, 2020 to $2,823 million on December 31, 2021. Owing to the increase in accounts receivables, the company reports approximately same total current assets during the two financial years - $10,159 million and $10,924 million, respectively. Total assets of the company is reported $81,605 million and $88,229 million, respectively. Total current liabilities during the years are $13,643 million and $13,740 million, respectively. As on December 31, 2021, the company had 1,750,000,000 shares with par value of €0.001, and of it 552,012,862 shares were issued. Retained earnings of the company has increased from $17,178 million to $18,710 million. Also, accumulated other comprehensive losses increased from $4,690 million to $5,048 million during the year. The company has paid $3.50 dividends per ordinary share in 2021. Total cash dividend paid is $2,189 million.
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	37	+= Merger of Praxair, Inc. and Linde AG =
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	39	+On October 31, 2018 Praxair and Linde AG combined their respective businesses through an all-stock transaction and became subsidiaries of Linde Plc. As a condition of the U.S. regulatory approval of the merger, Linde AG agreed to sell the majority of its industrial gases business in the Americas. The Linde AG Americas Sales and Purchase Agreement, dated July 16, 2018, as and further amended on September 22, 2018, October 19, 2018, and February 20, 2019 whereby Linde AG and Praxair, Inc. entered into an agreement with a consortium comprising companies of the German industrial gases manufacturer Messer Group and CVC Capital Partners Fund VII to sell the majority of Linde AG’s industrial gases business in North America and certain industrial gases business activities of Linde AG’s in South America for $2.9 billion in cash consideration after purchase price adjustments for certain items relating to assets and liabilities of the sold businesses. In addition, divestitures include $0.5 billion of proceeds for incremental plant sales within the Americas under other agreements. These transactions were completed on March 1, 2019.
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	41	+On April 30, 2019, Linde completed the sale of select assets of Linde South Korea with the sale price of $1.2 billion to IMM Private Equity Inc., to satisfy requirements of the Korea Fair Trade Commission. The assets divested include bulk and on-site business in Giheung, Pohang and Seosan sites as well as oxygen and nitrogen on-site generators. On December 16, 2019, Linde completed the sale of select assets of Linde India with a sale price of $193 million. In March 2020, Linde completed the sale of select assets of Linde China with a sale price of $98 million.
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38	38	= History of Linde Plc =
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40	40	Linde has a long-standing history of about 140 years. The company started in 1879 when Carl Linde found the Geselleschaft für Linde's Eismaschinen in Wiesbaden, Germany together with five partners. Linde had a mechanical refrigeration system which would have clear big benefits for beer brewing industry. In 1907, Carl Linde himself travels to the United States to establish Linde Air Products as a subsidiary in the US. The venture became a successful one. Due to the first world war, Linde loses the US subsidiary due to expropriation. Linde Air Products in the USA becomes a part of the newly formed Union Carbide Corporation in 1917. Linde division from the Union Carbide is spun off in 1992 to form Praxair and the newly formed company goes public. Praxair makes a couple of major acquisitions in the subsequent years. The company acquires Liquid Carbonic, which facilitates the company to enter Carbon Dioxide market and to give it a full product line of gases. The acquisition also extended Praxair's presence in South America, Poland, and Thailand. The right that was lost in 1917 to use the name Linde, the company regains it in 1999 in the United States. Story of the subsequent years of the company is a story of a series of acquisition. In 2000, Linde acquires the Swedish gases company AGA and therefore expands the business footprint in Northern Europe and South and Middle America. In 2004, Praxair acquires Air Liquide's Germany business expanding its business in the refining, chemical and steel industries along the pipeline systems, and smaller customers in bulk, medical, specialty and packaged gases. In 2006, Linde Group is formed after Linde AG acquires BOC. In the same year, the company sells Material Handling business that becomes and part of KION and still uses Linde as a brand name. Linde acquires in 2012 Lincare, a business with Linde roots in the United States. In 2013, Praxair acquires NuCO2, a leading provider of beverage carbonation solutions in the United States giving the company opportunity to continue growing the business in the US enhancing distribution efficiency, and extending NuCO2's offerings to customers in other regions of the world. In 2016, Praxair acquires Yara International ASA's (Yara) European CO,,2,, business expanding the company's presence in resilient end-markets such as food and beverage. In 2018, Praxair and Linde are merged to form Linde Plc.