Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Summary of Outstanding Debt

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

(Millions of dollars)	March 31, 2024		December 31, 2023
SHORT-TERM
Commercial paper	$	3,784	$	4,483
Other bank borrowings (primarily non U.S.)	262		230
Total short-term debt	4,046		4,713
LONG-TERM (a)
(U.S. dollar denominated unless otherwise noted)
1.20% Euro denominated notes due 2024 (b)	—		607
1.875% Euro denominated notes due 2024 (c)	324		332
4.800% Notes due 2024	300		300
4.700% Notes due 2025	599		599
2.65% Notes due 2025	399		399
1.625% Euro denominated notes due 2025	537		550
3.625% Euro denominated notes due 2025	539		551
0.00% Euro denominated notes due 2026	757		774
3.20% Notes due 2026	724		724
3.434% Notes due 2026	198		198
1.652% Euro denominated notes due 2027	87		90
0.25% Euro denominated notes due 2027	808		827
1.00% Euro denominated notes due 2027	541		553
1.00% Euro denominated notes due 2028 (c)	765		780
3.00% Euro denominated notes due 2028 (d)	752		—
3.375% Euro denominated notes due 2029	805		824
1.10% Notes due 2030	697		697
1.90% Euro denominated notes due 2030	111		114
1.375% Euro denominated notes due 2031	811		829
3.20% Euro denominated notes due 2031 (d)	915		—
0.55% Euro denominated notes due 2032	805		823
0.375% Euro denominated notes due 2033	534		546
3.625% Euro denominated notes due 2034	698		714
1.625% Euro denominated notes due 2035	857		876
3.40% Euro denominated notes due 2036 (d)	748		—
3.55% Notes due 2042	666		666
2.00% Notes due 2050	296		296
1.00% Euro denominated notes due 2051	738		755
Non U.S. borrowings	252		226
Other	10		10
	16,273		14,660
Less: current portion of long-term debt	(1,046)		(1,263)
Total long-term debt	15,227		13,397
Total debt	$	20,319	$	19,373

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

(b)In February 2024, Linde repaid €550 million of 1.20% notes that became due.

(c)March 31, 2024 and December 31, 2023 included a cumulative $41 million and $46 million adjustment to carrying value, respectively, related to hedge accounting of interest rate swaps. Refer to Note 4.

(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.