Debt (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Summary of Outstanding Debt

The following is a summary of Linde's outstanding debt at June 30, 2023 and December 31, 2022:

(Millions of dollars)	June 30, 2023		December 31, 2022
SHORT-TERM
Commercial paper	$	2,765	$	3,926
Other bank borrowings (primarily non U.S.)	253		191
Total short-term debt	3,018		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) (d)	—		699
5.875% GBP denominated notes due 2023 (b) (d)	—		367
1.20% Euro denominated notes due 2024	600		588
1.875% Euro denominated notes due 2024 (b)	328		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	543		533
3.625% Euro denominated notes due 2025 (e)	544		—
0.00% Euro denominated notes due 2026	766		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	817		802
1.00% Euro denominated notes due 2027	546		536
1.00% Euro denominated notes due 2028 (b)	767		749
3.375% Euro denominated notes due 2029 (e)	814		—
1.10% Notes due 2030	697		696
1.90% Euro denominated notes due 2030	113		111
1.375% Euro denominated notes due 2031	819		803
0.55% Euro denominated notes due 2032	813		798
0.375% Euro denominated notes due 2033	540		529
3.625% Euro denominated notes due 2034 (e)	705		—
1.625% Euro denominated notes due 2035	865		849
3.55% Notes due 2042	665		665
2.00% Notes due 2050	296		296
1.00% Euro denominated notes due 2051	746		731
Non U.S. borrowings	170		152
Other	10		10
	14,472		13,797
Less: current portion of long-term debt	(944)		(1,599)
Total long-term debt	13,528		12,198
Total debt	$	17,490	$	17,914

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

(b)June 30, 2023 and December 31, 2022 included a cumulative $50 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.

(d)In April 2023, Linde repaid €650 million of 2.00% notes and £300 million of 5.875% notes that became due.

(e)In June 2023, Linde issued €500 million of 3.625% notes due in 2025, €750 million of 3.375% notes due in 2029 and €650 million of 3.625% notes due in 2034.