v3.26.1
Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Outstanding Debt
The following is a summary of Linde's outstanding debt at June 30, 2026 and December 31, 2025:
(Millions of dollars)June 30, 2026December 31, 2025
SHORT-TERM
Commercial paper$4,531 $4,226 
Other bank borrowings (primarily non-U.S.)330 284 
Total short-term debt4,861 4,510 
LONG-TERM (a)
(U.S. dollar denominated unless otherwise noted)
3.20%Notes due 2026 (b)— 725 
0.00%Euro denominated notes due 2026799 822 
3.434%Notes due 2026200 200 
1.652%Euro denominated notes due 202792 95 
0.250%Euro denominated notes due 2027856 880 
1.00%Euro denominated notes due 2027574 589 
2.439%Euro denominated notes due 2027 (c)685 705 
1.00%Euro denominated notes due 2028 (d)836 854 
2.604%Euro denominated notes due 2028 (c) (e)685 — 
3.00%Euro denominated notes due 2028798 820 
3.375%Euro denominated notes due 2029854 878 
2.625%Euro denominated notes due 2029968 994 
0.6150%Swiss franc denominated notes due 2029278 283 
1.10%Notes due 2030698 698 
1.90%Euro denominated notes due 2030117 120 
3.200%Euro denominated notes due 2030 (e)569 — 
3.375%Euro denominated notes due 2030853 877 
1.375%Euro denominated notes due 2031861 884 
3.20%Euro denominated notes due 2031969 997 
0.550%Euro denominated notes due 2032853 877 
3.125%Euro denominated notes due 2032736 759 
0.375%Euro denominated notes due 2033566 582 
3.00%Euro denominated notes due 2033853 877 
1.0629%Swiss franc denominated notes due 2033339 346 
3.625%Euro denominated notes due 2034740 760 
3.50%Euro denominated notes due 2034850 874 
1.625%Euro denominated notes due 2035909 934 
3.40%Euro denominated notes due 2036794 816 
3.800%Euro denominated notes due 2036 (e)567 — 
3.250%Euro denominated notes due 2037736 756 
3.750%Euro denominated notes due 2038565 582 
3.55%Notes due 2042666 666 
3.75%Euro denominated notes due 2044788 810 
2.00%Notes due 2050297 297 
1.00%Euro denominated notes due 2051782 805 
Non-U.S. borrowings419 307 
Other— 10 
23,152 22,479 
Less: current portion of long-term debt(2,474)(1,796)
Total long-term debt20,678 20,683 
Total debt$28,013 $26,989 
(a)Amounts are net of unamortized discounts, premiums and/or debt issuance costs as applicable.
(b)In January 2026, Linde repaid $725 million of 3.20% notes that became due.
(c)Floating-rate notes that reset quarterly at three-month EURIBOR plus a fixed spread.
(d)June 30, 2026 and December 31, 2025 included a cumulative $19 million and $25 million adjustment to carrying value, respectively, related to hedge accounting of terminated interest rate swaps. Refer to Note 4.
(e)In May 2026, Linde issued three tranches of Euro-denominated notes consisting of: €600 million of floating-rate notes due in 2028, bearing interest at three-month EURIBOR plus a fixed spread and resetting quarterly (2.604% as of June 30, 2026), €500 million of 3.200% notes due in 2030, and €500 million of 3.800% notes due in 2036.