Debt (Tables)

3 Months Ended

Mar. 31, 2023

The following is a summary of Linde's outstanding debt at March 31, 2023 and December 31, 2022:


(Millions of dollars)	March 31, 2023		December 31, 2022
SHORT-TERM
Commercial paper	$	5,063	$	3,926
Other bank borrowings (primarily non U.S.)	274		191
Total short-term debt	5,337		4,117
LONG-TERM (a)
(U.S. dollar denominated unless otherwise noted)
2.70% Notes due 2023 (c)	—		501
2.00% Euro denominated notes due 2023 (b)	706		699
5.875% GBP denominated notes due 2023 (b)	371		367
1.20% Euro denominated notes due 2024	596		588
1.875% Euro denominated notes due 2024 (b)	327		324
4.800% Notes due 2024	299		299
4.700% Notes due 2025	598		598
2.65% Notes due 2025	399		400
1.625% Euro denominated notes due 2025	539		533
0.00% Euro denominated notes due 2026	761		751
3.20% Notes due 2026	725		724
3.434% Notes due 2026	198		198
1.652% Euro denominated notes due 2027	89		88
0.25% Euro denominated notes due 2027	812		802
1.00% Euro denominated notes due 2027	543		536
1.00% Euro denominated notes due 2028 (b)	765		749
1.10% Notes due 2030	696		696
1.90% Euro denominated notes due 2030	112		111
1.375% Euro denominated notes due 2031	814		803
0.55% Euro denominated notes due 2032	808		798
0.375% Euro denominated notes due 2033	536		529
1.625% Euro denominated notes due 2035	860		849
3.55% Notes due 2042	664		665
2.00% Notes due 2050	296		296
1.00% Euro denominated notes due 2051	741		731
Non U.S. borrowings	175		152
Other	10		10
	13,440		13,797
Less: current portion of long-term debt	(1,696)		(1,599)
Total long-term debt	11,744		12,198
Total debt	$	18,777	$	17,914

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

(b)March 31, 2023 and December 31, 2022 included a cumulative $47 million and $56 million adjustment to carrying value, respectively, related to hedge accounting of interest rate swaps. Refer to Note 5.

(c)In February 2023, Linde repaid $500 million of 2.70% notes that became due.