Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Summary of Outstanding Debt

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

(Millions of dollars)	December 31, 2023		December 31, 2022
SHORT-TERM
Commercial paper	$	4,483	$	3,926
Other borrowings (primarily non U.S.)	230		191
Total short-term debt	4,713		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. borrowings	226		152
Other	10		10
	14,660		13,797
Less: current portion of long-term debt	(1,263)		(1,599)
Total long-term debt	13,397		12,198
Total debt	$	19,373	$	17,914

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(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.

Expected Maturities On Long-term Debt

Expected maturities of long-term debt are as follows:

(Millions of dollars)
2024	$	1,263
2025	2,113
2026	1,733
2027	1,500
2028	835
Thereafter	7,216
	$	14,660