The following is a summary of Linde's outstanding debt at June 30, 2024 and December 31, 2023: | | | | | | | | | | | | | (Millions of dollars) | June 30,
2024 | | December 31,
2023 | | SHORT-TERM | | | | | Commercial paper | $ | 3,019 | | | $ | 4,483 | | | Other bank borrowings (primarily non U.S.) | 307 | | | 230 | | | Total short-term debt | 3,326 | | | 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 | 535 | | | 550 | | 3.625% Euro denominated notes due 2025 | 535 | | | 551 | | 0.00% Euro denominated notes due 2026 | 751 | | | 774 | | 3.20% Notes due 2026 | 725 | | | 724 | | 3.434% Notes due 2026 | 199 | | | 198 | | 1.652% Euro denominated notes due 2027 | 87 | | | 90 | | 0.25% Euro denominated notes due 2027 | 803 | | | 827 | | 1.00% Euro denominated notes due 2027 | 537 | | | 553 | | 1.00% Euro denominated notes due 2028 (b) | 762 | | | 780 | | 3.00% Euro denominated notes due 2028 (d) | 747 | | | — | | 3.375% Euro denominated notes due 2029 | 800 | | | 824 | | 1.10% Notes due 2030 | 697 | | | 697 | | 1.90% Euro denominated notes due 2030 | 110 | | | 114 | | 3.375% Euro denominated notes due 2030 (f) | 799 | | | — | | 1.375% Euro denominated notes due 2031 | 805 | | | 829 | | 3.20% Euro denominated notes due 2031 (d) | 909 | | | — | | 0.55% Euro denominated notes due 2032 | 799 | | | 823 | | 0.375% Euro denominated notes due 2033 | 530 | | | 546 | | 3.625% Euro denominated notes due 2034 | 693 | | | 714 | | 3.500% Euro denominated notes due 2034 (f) | 795 | | | — | | 1.625% Euro denominated notes due 2035 | 851 | | | 876 | | 3.40% Euro denominated notes due 2036 (d) | 743 | | | — | | 3.55% Notes due 2042 | 665 | | | 666 | | 3.75% Euro denominated notes due 2044 (f) | 743 | | | — | | 2.00% Notes due 2050 | 297 | | | 296 | | 1.00% Euro denominated notes due 2051 | 732 | | | 755 | | | Non U.S. borrowings | 234 | | | 226 | | | Other | 10 | | | 10 | | | 18,192 | | | 14,660 | | | Less: current portion of long-term debt | (1,261) | | | (1,263) | | | Total long-term debt | 16,931 | | | 13,397 | | | Total debt | $ | 21,518 | | | $ | 19,373 | |
(a)Amounts are net of unamortized discounts, premiums and/or debt issuance costs as applicable. (b)June 30, 2024 and December 31, 2023 included a cumulative $38 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 3.75% notes due in 2044.
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