Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Summary of Consideration Transferred and Identified Assets Acquired and Liabilities Assumed

The following table summarizes the fair value of identifiable assets acquired and liabilities assumed in the acquisition of nexAir, LLC as of the acquisition date.

(Millions of dollars)	January 5, 2023
Assets:
Cash and cash equivalents	$	55
Other current assets - net	49
Property, plant and equipment, net	241
Other intangible assets - net	245
Other long-term liabilities - net	(1)
Deferred taxes	(25)
Total identifiable net assets	$	564
Goodwill	$	485
Fair value of previously held equity interest	$	183
Total purchase price	$	866