Air Products & Chemicals, Inc.

4. GAIN ON SALE OF BUSINESS

Fiscal Year 2025 Sale of Singapore Business

In April 2025, we completed the sale of our 100% ownership interest in a consolidated subsidiary located in Singapore. The transaction resulted in cash proceeds of $104.3, which was received in full upon closing. As a result of the divestiture, we recognized a gain of $67.3 ($51.9 after tax) that is presented as “Gain on sale of business” on our consolidated income statement for fiscal year 2025. The gain was not recorded in the results of the Asia segment.

Prior to the divestiture, the subsidiary contributed annual sales of approximately $50 to our Asia segment, primarily through the merchant gas supply mode. Assets divested in the transaction primarily included regionally located on-site production facilities and associated infrastructure.

Fiscal Year 2024 Sale of LNG Business

On 30 September 2024, we completed the sale of our liquefied natural gas ("LNG") process technology and equipment business to Honeywell International Inc. for approximately $1.8 billion in an all-cash transaction. As a result of the transaction, we recorded a gain of approximately $1.6 billion during the fourth quarter of fiscal year 2024 that is reflected within "Gain on sale of business" on our consolidated income statements (approximately $1.2 billion after tax). This gain was not recorded in the results of the Corporate and other segment.

The LNG business did not qualify for presentation as a discontinued operation because the disposal did not represent a strategic shift that had or will have a major effect on our operations and financial results. The LNG business generated operating income for our Corporate and other segment of approximately $135 in fiscal year 2024 and $120 in fiscal year 2023.