Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of future minimum lease payments under operating leases

Future minimum lease payments under non-cancellable leases as of December 31, 2023 were as follows:

(in millions of dollars)	Operating Leases
2024	$	86
2025	68
2026	53
2027	41
2028	30
2029 and thereafter	73
Total future minimum lease payments	351
Less: Interest	51
Total	$	300

Schedule of equipment on operating leases

A summary of equipment on operating leases as of December 31, 2023, and 2022 is as follows:

(in millions of dollars)	2023		2022
Equipment on operating leases	$	1,784	$	1,894
Accumulated depreciation	(367)		(392)
Net equipment on operating leases	$	1,417	$	1,502

Schedule of undiscounted lease payments to be received under operating leases

The following table sets out a maturity analysis of operating lease payments, showing the undiscounted lease payments to be received after the reporting date:

(in millions of dollars)	Amount
2024	$	204
2025	142
2026	78
2027	31
2028	10
2029 and thereafter	—
Total undiscounted lease payments	$	465