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Debt
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Debt DEBT
The following is a summary of Linde’s outstanding debt at December 31, 2023 and 2022:
(Millions of dollars)December 31, 2023December 31, 2022
SHORT-TERM
     Commercial paper$4,483 $3,926 
     Other borrowings (primarily non U.S.)230 191 
Total short-term debt4,713 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 (d)
— 699 
5.875% GBP denominated notes due 2023 (d)
— 367 
1.20% Euro denominated notes due 2024
607 588 
1.875% Euro denominated notes due 2024 (b)
332 324 
4.800% Notes due 2024
300 299 
4.700% Notes due 2025
599 598 
2.65% Notes due 2025
399 400 
1.625% Euro denominated notes due 2025
550 533 
3.625% Euro denominated notes due 2025 (e)
551 — 
0.00% Euro denominated notes due 2026
774 751 
3.20% Notes due 2026
724 724 
3.434% Notes due 2026
198 198 
1.652% Euro denominated notes due 2027
90 88 
0.250% Euro denominated notes due 2027
827 802 
1.00% Euro denominated notes due 2027
553 536 
1.00% Euro denominated notes due 2028 (b)
780 749 
3.375% Euro denominated notes due 2029 (e)
824 — 
1.10% Notes due 2030
697 696 
1.90% Euro denominated notes due 2030
114 111 
1.375% Euro denominated notes due 2031
829 803 
0.550% Euro denominated notes due 2032
823 798 
0.375% Euro denominated notes due 2033
546 529 
3.625% Euro denominated notes due 2034 (e)
714 — 
1.625% Euro denominated notes due 2035
876 849 
3.55% Notes due 2042
666 665 
2.00% Notes due 2050
296 296 
1.00% Euro denominated notes due 2051
755 731 
Non U.S. borrowings226 152 
Other10 10 
14,660 13,797 
Less: current portion of long-term debt(1,263)(1,599)
Total long-term debt13,397 12,198 
Total debt$19,373 $17,914 
________________________
(a)Amounts are net of unamortized discounts, premiums and/or debt issuance costs as applicable.
(b)December 31, 2023 and December 31, 2022 included a cumulative $46 million and $56 million adjustment to carrying value, respectively, related to hedge accounting of interest rate swaps, including related terminations. Refer to Note 12.
(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.

Credit Facilities
On December 7, 2022, the company and certain of its subsidiaries entered into an amended and restated unsecured revolving credit agreement (the “Five Year Credit Agreement”) with a syndicate of banking institutions. The Five Year Credit Agreement provides for total commitments of $5.0 billion, which may be increased up to $6.5 billion, subject to receipt of additional commitments and satisfaction of customary conditions. There are no financial maintenance covenants contained within the Credit Agreement. The revolving credit facility expires on December 7, 2027 with the option to request two one-year extensions of the expiration date.
In addition, on December 6, 2023, the company and certain of its subsidiaries entered into an unsecured 364-day revolving credit agreement (the “364-Day Credit Agreement” and, together with the Five Year Credit Agreement, the “Credit Agreements”) with a syndicate of banking institutions. The 364-Day Credit Agreement provides for total commitments of $1.5 billion. There are no financial maintenance covenants contained within the Credit Agreement. The 364-Day Credit Agreement expires on December 4, 2024 with the option to elect to have the entire principal balances outstanding under the Credit Agreement converted into non-revolving term loans, which will be due and payable one year after the commitment termination date.
No borrowings were outstanding under the Credit Agreements as of December 31, 2023.

Other Debt Information
The weighted-average interest rates of short-term borrowings outstanding were 4.8% and 3.2% as of December 31, 2023 and 2022, respectively.
Expected maturities of long-term debt are as follows:
(Millions of dollars) 
2024$1,263 
20252,113 
20261,733 
20271,500 
2028835 
Thereafter7,216 
$14,660 
As of December 31, 2023, the amount of Linde's assets pledged as collateral was immaterial.
See Note 13 for the fair value information related to debt.