Goodwill and Other Intangibles (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in the carrying amount of goodwill

Changes in the carrying amount of goodwill, for the years ended December 31, 2023 and 2022 are as follows:

(in millions of dollars)	Agriculture		Construction		Financial Services		Total
Balance at January 1, 2022	$	3,020	$	49	$	141	$	3,210
Foreign currency translation and other	68		(3)		(1)		64
Acquisitions	48		—		—		48
Balance at December 31, 2022	3,136		46		140		3,322
Foreign currency translation and other	2		1		1		4
Acquisitions	288		—		—		288
Balance at December 31, 2023	$	3,426	$	47	$	141	$	3,614

Schedule of other intangible assets and related accumulated amortization

As of December 31, 2023, and December 31, 2022, the Company’s other intangible assets and related accumulated amortization consisted of the following:

		2023						2022
(in millions of dollars)	Weighted Avg. Life	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Other intangible assets subject to amortization:
Dealer networks	20-25	$	246	$	223	$	23	$	291	$	242	$	49
Patents, concessions, licenses and other	5-25	928		523		405		787		470		317
Capitalized software	2-5	1,070		810		260		890		683		207
		2,244		1,556		688		1,968		1,395		573
Other intangible assets not subject to amortization:
In-process research and development		213		—		213		165		—		165
Software in-progress		119		—		119		119		—		119
Trademarks		272		—		272		272		—		272
Total other intangible assets		$	2,848	$	1,556	$	1,292	$	2,524	$	1,395	$	1,129