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Debt
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Debt Debt
The following is a summary of Linde's outstanding debt at September 30, 2024 and December 31, 2023:
(Millions of dollars)September 30,
2024		December 31,
2023
SHORT-TERM
Commercial paper$3,278 $4,483 
Other bank borrowings (primarily non U.S.)231 230 
Total short-term debt3,509 4,713 
LONG-TERM (a)
(U.S. dollar denominated unless otherwise noted)
1.20% Euro denominated notes due 2024 (c)
— 607 
1.875% Euro denominated notes due 2024 (b,e)
— 332 
4.800% Notes due 2024
300 300 
4.700% Notes due 2025
599 599 
2.65% Notes due 2025
400 399 
1.625% Euro denominated notes due 2025
556 550 
3.625% Euro denominated notes due 2025
556 551 
0.00% Euro denominated notes due 2026
781 774 
3.20% Notes due 2026
725 724 
3.434% Notes due 2026
199 198 
1.652% Euro denominated notes due 2027
90 90 
0.25% Euro denominated notes due 2027
834 827 
1.00% Euro denominated notes due 2027
558 553 
1.00% Euro denominated notes due 2028 (b)
796 780 
3.00% Euro denominated notes due 2028 (d)
776 — 
3.375% Euro denominated notes due 2029
832 824 
1.10% Notes due 2030
697 697 
1.90% Euro denominated notes due 2030
115 114 
3.375% Euro denominated notes due 2030 (f)
830 — 
1.375% Euro denominated notes due 2031
837 829 
3.20% Euro denominated notes due 2031 (d)
944 — 
0.55% Euro denominated notes due 2032
831 823 
0.375% Euro denominated notes due 2033
551 546 
3.625% Euro denominated notes due 2034
720 714 
3.500% Euro denominated notes due 2034 (f)
827 — 
1.625% Euro denominated notes due 2035
885 876 
3.40% Euro denominated notes due 2036 (d)
773 — 
3.55% Notes due 2042
666 666 
3.75% Euro denominated notes due 2044 (f)
764 — 
2.00% Notes due 2050
297 296 
1.00% Euro denominated notes due 2051
762 755 
Non U.S. borrowings242 226 
Other10 10 
18,753 14,660 
Less: current portion of long-term debt(1,278)(1,263)
Total long-term debt17,475 13,397 
Total debt$22,262 $19,373 
(a)Amounts are net of unamortized discounts, premiums and/or debt issuance costs as applicable.
(b)September 30, 2024 and December 31, 2023 included a cumulative $36 million and $46 million adjustment to carrying value, respectively, related to hedge accounting of interest rate swaps. Refer to Note 4.
(c)In February 2024, Linde repaid €550 million of 1.20% notes that became due.
(d)In February 2024, Linde issued €700 million of 3.00% notes due in 2028, €850 million of 3.20% notes due in 2031 and €700 million of 3.40% notes due in 2036.
(e)In May 2024, Linde repaid €300 million of 1.875% notes that became due.
(f)In June 2024, Linde issued €750 million of 3.375% notes due in 2030, €750 million of 3.500% notes due in 2034 and €700 million of 3.750% notes due in 2044.
The company maintains a $5 billion and a $1.5 billion unsecured revolving credit agreement with a syndicate of banking institutions that expire on December 7, 2027 and December 4, 2024, respectively. There are no financial maintenance covenants contained within the credit agreements. No borrowings were outstanding under the credit agreements as of September 30, 2024.
The weighted-average interest rates of short-term borrowings outstanding were 3.9% and 4.8% as of September 30, 2024 and December 31, 2023, respectively.