Goodwill and Other Intangibles (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024 and 2023 are as follows:

(in millions of dollars)	Agriculture		Construction		Financial Services		Total
Balance at January 1, 2023	$	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
Foreign currency translation and other	(24)		(3)		(3)		(30)
Balance at December 31, 2024	$	3,402	$	44	$	138	$	3,584

Schedule of other intangible assets and related accumulated amortization

As of December 31, 2024 and 2023, the Company’s other intangible assets and related accumulated amortization consisted of the following:

		2024						2023
(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	$	218	$	203	$	15	$	246	$	223	$	23
Patents, concessions, licenses and other	5-25	938		573		365		928		523		405
Capitalized software	2-5	1,159		910		249		1,070		810		260
		2,315		1,686		629		2,244		1,556		688
Other intangible assets not subject to amortization:
In-process research and development		198		—		198		213		—		213
Software in-progress		121		—		121		119		—		119
Trademarks		273		—		273		272		—		272
Total other intangible assets		$	2,907	$	1,686	$	1,221	$	2,848	$	1,556	$	1,292