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Debt
 3 Months Ended
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 debt4,465 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. borrowings213 214 
Other10 10 
19,432 17,400 
Less: current portion of long-term debt(1,824)(2,057)
Total long-term debt17,608 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.