Air Products Chemicals Inc
For the period ended Mar 31, 2025. Filed May 1, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 1, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Business Segment Information
- BUSINESS SEGMENT INFORMATION
We manage our operations, assess performance, and report earnings under the following reportable segments:
Americas;
Asia;
Europe;
Middle East and India; and
Corporate and other.
Our reportable segments reflect the manner in which our chief operating decision maker reviews results and allocates resources. We evaluate the performance of our segments based upon segment operating income (loss). Except for the Corporate and other segment, each reportable segment meets the definition of an operating segment and does not include the aggregation of multiple operating segments. Our Corporate and other segment includes the aggregation oftwo operating segments that meet the aggregation criteria under GAAP.
Summary by Business Segment
| Americas · Asia · Europe · Middle East and India · Corporate and other · Total | |||||||
|---|---|---|---|---|---|---|---|
| Three Months Ended 31 March 2025 | |||||||
| Sales | $1,287.2 | $774.1 | $727.4 | $32.8 | $94.7 | $2,916.2 | (A) |
| Operating income (loss) | 365.7 | 191.4 | 195.5 | (2.9) | (118.4) | 631.3 | (B) |
| Depreciation and amortization | 178.4 | 131.8 | 56.8 | 6.4 | 10.2 | 383.6 | |
| Equity affiliates' income | 31.2 | 10.5 | 27.7 | 78.2 | 4.7 | 152.3 | (B) |
| Three Months Ended 31 March 2024 | |||||||
| Sales | $1,245.8 | $779.7 | $667.9 | $35.7 | $201.1 | $2,930.2 | (A) |
| Operating income (loss) | 371.9 | 203.6 | 201.0 | 5.6 | (87.9) | 694.2 | (B) |
| Depreciation and amortization | 174.1 | 116.4 | 50.8 | 6.7 | 12.8 | 360.8 | |
| Equity affiliates' income | 44.2 | 8.3 | 11.7 | 73.9 | 5.2 | 143.3 | (B) |
| Six Months Ended 31 March 2025 | |||||||
|---|---|---|---|---|---|---|---|
| Sales | $2,574.8 | $1,591.2 | $1,424.6 | $65.6 | $191.5 | $5,847.7 | (A) |
| Operating income (loss) | 753.9 | 407.8 | 382.0 | (3.5) | (235.4) | 1,304.8 | (B) |
| Depreciation and amortization | 351.8 | 254.7 | 111.3 | 12.9 | 19.7 | 750.4 | |
| Equity affiliates' income | 66.3 | 20.8 | 45.9 | 163.2 | 6.7 | 302.9 | |
| Six Months Ended 31 March 2024 | |||||||
| Sales | $2,497.9 | $1,573.5 | $1,399.1 | $71.1 | $386.0 | $5,927.6 | (A) |
| Operating income (loss) | 726.3 | 414.8 | 398.6 | 9.5 | (188.1) | 1,361.1 | (B) |
| Depreciation and amortization | 343.8 | 228.2 | 99.0 | 13.3 | 25.7 | 710.0 | |
| Equity affiliates' income | 81.3 | 12.5 | 32.4 | 166.8 | 8.7 | 301.7 | |
| Total Assets | |||||||
| 31 March 2025 | $11,274.1 | $6,990.9 | $6,215.6 | $10,067.4 | $4,324.9 | $38,872.9 | |
| 30 September 2024 | 12,383.8 | 7,436.5 | 5,849.2 | 8,477.4 | 5,427.7 | 39,574.6 | |
(A)Sales relate to external customers only. All intersegment sales are eliminated in consolidation.
(B)Refer to the "Reconciliation to Consolidated Results" section below.
Reconciliation to Consolidated Results
The table below reconciles total operating income disclosed in the table above to consolidated operating income (loss) as reflected on our consolidated income statements:
| Three Months Ended · Six Months Ended | ||||
|---|---|---|---|---|
| 31 March | 31 March | |||
| Operating Income (Loss) | 2025 | 2024 | 2025 | 2024 |
| Total | $631.3 | $694.2 | $1,304.8 | $1,361.1 |
| Business and asset actions | (2,927.9) | (57.0) | (2,927.9) | (57.0) |
| Shareholder activism-related costs | (31.4) | — | (61.3) | — |
| Consolidated Operating Income (Loss) | ($2,328.0) | $637.2 | ($1,684.4) | $1,304.1 |
| The table below reconciles total equity affiliates' income disclosed in the table above to consolidated equity affiliates' income as reflected on our consolidated income statements: | ||||
|---|---|---|---|---|
| Three Months Ended · Six Months Ended | ||||
| 31 March | 31 March | |||
| Equity Affiliates' Income | 2025 | 2024 | 2025 | 2024 |
| Total | $152.3 | $143.3 | $302.9 | $301.7 |
| Equity method investment impairment associated with business and asset actions | (6.8) | — | (6.8) | — |
| Consolidated Equity Affiliates' Income | $145.5 | $143.3 | $296.1 | $301.7 |
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