Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Summary of Outstanding Debt

The following is a summary of Linde’s outstanding debt at December 31, 2024 and 2023:

(Millions of dollars)
December 31,	2024		2023
SHORT-TERM
Commercial paper	$	3,964	$	4,483
Other bank borrowings (primarily non U.S.)	259		230
Total short-term debt	4,223		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 (g)	—		300
4.700% Notes due 2025	599		599
2.65% Notes due 2025	400		399
1.625% Euro denominated notes due 2025	517		550
3.625% Euro denominated notes due 2025	517		551
0.00% Euro denominated notes due 2026	726		774
3.20% Notes due 2026	725		724
3.434% Notes due 2026	199		198
1.652% Euro denominated notes due 2027	84		90
0.250% Euro denominated notes due 2027	776		827
1.00% Euro denominated notes due 2027	519		553
1.00% Euro denominated notes due 2028 (b)	742		780
3.00% Euro denominated notes due 2028 (d)	722		—
3.375% Euro denominated notes due 2029	773		824
1.10% Notes due 2030	697		697
1.90% Euro denominated notes due 2030	106		114
3.375% Euro denominated notes due 2030 (f)	772		—
1.375% Euro denominated notes due 2031	779		829
3.20% Euro denominated notes due 2031 (d)	878		—
0.550% Euro denominated notes due 2032	772		823
0.375% Euro denominated notes due 2033	512		546
3.625% Euro denominated notes due 2034	670		714
3.50% Euro denominated notes due 2034 (f)	769		—
1.625% Euro denominated notes due 2035	822		876
3.40% Euro denominated notes due 2036 (d)	718		—
3.55% Notes due 2042	666		666
3.75% Euro denominated notes due 2044 (f)	712		—
2.00% Notes due 2050	297		296
1.00% Euro denominated notes due 2051	707		755
Other	10		10
Non U.S. borrowings	214		226
	17,400		14,660
Less: current portion of long-term debt	(2,057)		(1,263)
Total long-term debt	15,343		13,397
Total debt	$	21,623	$	19,373

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

(b)December 31, 2024 and December 31, 2023 included a cumulative $32 million and $46 million adjustment to carrying value, respectively, related to hedge accounting of interest rate swaps, including related terminations. Refer to Note 12.

(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.

(g)In December 2024, Linde repaid $300 million of 4.800% notes that became due.

Expected Maturities On Long-term Debt

Expected maturities of long-term debt are as follows:

(Millions of dollars)
2025	$	2,057
2026	1,670
2027	1,391
2028	1,547
2029	785
Thereafter	9,950
	$	17,400