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v3.25.1

Debt | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Debt | Debt The following is a summary of Linde's outstanding debt at March 31, 2025 and December 31, 2024:
(Millions of dollars) | March 31, 2025 |  | December 31, 2024
SHORT-TERM |  |  |
Commercial paper | $ | 4,177 |  |  | $ | 3,964 |
Other bank borrowings (primarily non U.S.) | 288 |  |  | 259 |
Total short-term debt | 4,465 |  |  | 4,223 |
LONG-TERM (a) |  |  |
(U.S. dollar denominated unless otherwise noted) |  |  |
4.700% Notes due 2025 (d) | — |  |  | 599 |
2.65% Notes due 2025 (d) | — |  |  | 400 |
1.625% Euro denominated notes due 2025 | 540 |  |  | 517 |
3.625% Euro denominated notes due 2025 | 541 |  |  | 517 |
0.00% Euro denominated notes due 2026 | 758 |  |  | 726 |
3.20% Notes due 2026 | 725 |  |  | 725 |
3.434% Notes due 2026 | 199 |  |  | 199 |
1.652% Euro denominated notes due 2027 | 88 |  |  | 84 |
0.25% Euro denominated notes due 2027 | 810 |  |  | 776 |
1.00% Euro denominated notes due 2027 | 543 |  |  | 519 |
1.00% Euro denominated notes due 2028 (b) | 778 |  |  | 742 |
3.00% Euro denominated notes due 2028 | 755 |  |  | 722 |
3.375% Euro denominated notes due 2029 | 808 |  |  | 773 |
2.625% Euro denominated notes due 2029 (c) | 914 |  |  | — |
1.10% Notes due 2030 | 697 |  |  | 697 |
1.90% Euro denominated notes due 2030 | 111 |  |  | 106 |
3.375% Euro denominated notes due 2030 | 807 |  |  | 772 |
1.375% Euro denominated notes due 2031 | 814 |  |  | 779 |
3.20% Euro denominated notes due 2031 | 917 |  |  | 878 |
0.550% Euro denominated notes due 2032 | 807 |  |  | 772 |
0.375% Euro denominated notes due 2033 | 536 |  |  | 512 |
3.00% Euro denominated notes due 2033 (c) | 805 |  |  | — |
3.625% Euro denominated notes due 2034 | 700 |  |  | 670 |
3.50% Euro denominated notes due 2034 | 804 |  |  | 769 |
1.625% Euro denominated notes due 2035 | 859 |  |  | 822 |
3.40% Euro denominated notes due 2036 | 750 |  |  | 718 |
3.250% Euro denominated notes due 2037 (c) | 695 |  |  | — |
3.55% Notes due 2042 | 666 |  |  | 666 |
3.75% Euro denominated notes due 2044 | 745 |  |  | 712 |
2.00% Notes due 2050 | 297 |  |  | 297 |
1.00% Euro denominated notes due 2051 | 740 |  |  | 707 |
Non U.S. borrowings | 213 |  |  | 214 |
Other | 10 |  |  | 10 |
| 19,432 |  |  | 17,400 |
Less: current portion of long-term debt | (1,824) |  |  | (2,057) |
Total long-term debt | 17,608 |  |  | 15,343 |
Total debt | $ | 23,897 |  |  | $ | 21,623 |
(a)Amounts are net of unamortized discounts, premiums and/or debt issuance costs as applicable. (b)March 31, 2025 and December 31, 2024 included a cumulative $31 million and $32 million adjustment to carrying value, respectively, related to hedge accounting of interest rate swaps. Refer to Note 4. (c)In February 2025, Linde issued €850 million of 2.625% notes due in 2029, €750 million of 3.00% notes due in 2033, €650 million of 3.250% notes due in 2037. (d)In February 2025, Linde redeemed $600 million of 4.700% notes that were due in 2025 and repaid $400 million of 2.65% notes that became due. 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 3, 2025, respectively. There are no financial maintenance covenants contained within the credit agreements. No borrowings were outstanding under the credit agreements as of March 31, 2025. The weighted-average interest rates of short-term borrowings outstanding were 3.5% and 3.8% as of March 31, 2025 and December 31, 2024, respectively.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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