The following is a summary of Linde's outstanding debt at March 31, 2019 and December 31, 2018:



(Millions of dollars)	March 31, 2019			December 31, 2018
SHORT-TERM
Commercial paper and U.S. bank borrowings	$	216		$	829
Other bank borrowings (primarily international)	723			656
Total short-term debt	939			1,485
LONG-TERM (a)
U.S. borrowings (U.S. dollar denominated unless otherwise noted)
1.90% Notes due 2019 (b)	—			500
Variable rate notes due 2019	150			150
1.75% Euro denominated notes due 2019 (c)	560			578
4.25% AUD denominated notes due 2019	71			71
Variable rate notes due 2019	200			200
2.25% Notes due 2020	299			299
1.75% Euro denominated notes due 2020 (c)	1,154			1,185
0.634% Euro denominated notes due 2020	57			58
4.05% Notes due 2021	499			499
3.875% Euro denominated notes due 2021 (c)	732			755
3.00% Notes due 2021	498			498
0.250% Euro denominated notes due 2022 (c)	1,130			1,156
2.45% Notes due 2022	598			598
2.20% Notes due 2022	498			498
2.70% Notes due 2023	498			498
2.00% Euro denominated notes due 2023 (c)	786			805
5.875% GBP denominated notes due 2023 (c)	461			454
1.20% Euro denominated notes due 2024	616			628
1.875% Euro denominated notes due 2024 (c)	364			373
2.65% Notes due 2025	398			398
1.625% Euro denominated notes due 2025	556			568
3.20% Notes due 2026	725			725
3.434% Notes due 2026	195			195
1.652% Euro denominated notes due 2027	95			96
1.00% Euro denominated notes due 2028 (c)	858			861
1.90% Euro denominated notes due 2030	118			121
3.55% Notes due 2042	662			662
Other	10			10
International bank borrowings	303			291
Obligations under capital leases	116			81
	13,207			13,811
Less: current portion of long-term debt	(1,017		)	(1,523		)
Total long-term debt	12,190			12,288
Total debt	$	14,146		$	15,296


(a)	Amounts are net of unamortized discounts, premiums and/or debt issuance costs as applicable.


(b)	In February 2019, Linde repaid $500 million of 1.90% notes that became due.


(c)	March 31, 2019 and December 31, 2018 included a cumulative $34 million and $14 million fair value increase, respectively, related to hedge accounting. Refer to Note 7 - Financial Instruments for additional information.