Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease, Cost

The components of lease costs were as follows:

(Millions of dollars)
	Year ended December 31
	2019
Operating lease cost	$	232
Short-term lease cost	$	57

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental information related to leases was as follows:

(Millions of dollars)
	December 31, 2019			January 1, 2019
Operating Leases
Other assets	$	624		$	713
Other current liabilities	$	173		$	209
Other liabilities	$	461		$	511
Weighted average remaining lease term
Operating leases	7 years			7 years
Weighted average discount rates
Operating leases	2		%	2		%

Schedule of Maturities of Operating and Finance Leases Liabilities

Maturities of operating lease liabilities at December 31, 2019 and minimum payments for operating leases having initial or remaining non-cancelable terms in excess of one year at December 31, 2018 were as follows:

(Millions of dollars)	December 31, 2019
Amounts Due In
2020	$	185
2021	139
2022	86
2023	64
2024	46
Thereafter	175
Total lease payments	695
Less: Imputed interest	(61		)
Total	$	634
	December 31, 2018
Amounts Due In
2019	$	205
2020	154
2021	111
2022	67
2023	50
Thereafter	185
Total	$	772

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:

(Millions of dollars)
	Year ended December 31
	2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	224
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	122

Schedule of Equipment under Operating Leases

The carrying amount of equipment leased to others, included in Property, plant and equipment - net in Statement 3, under operating leases was as follows:

	December 31,
(Millions of dollars)	2019			2018
Equipment leased to others - at original cost	$	6,208		$	6,015
Less: Accumulated depreciation	(1,960		)	(1,744		)
Equipment leased to others - net	$	4,248		$	4,271

Lessor, Operating Lease, Payments to be Received, Maturity

Payments due for operating leases at December 31, 2019 and scheduled minimum rental payments for operating leases at December 31, 2018 were as follows:

(Millions of dollars)
December 31, 2019
2020	2021	2022	2023	2024	Thereafter	Total
$861	$558	$299	$149	$74	$70	$2,011
December 31, 2018
2019	2020	2021	2022	2023	Thereafter	Total
$896	$574	$314	$158	$71	$69	$2,082

Revenue from finance and operating lease

Revenues from finance and operating leases, primarily included in Revenues of Financial Products on Statement 1, were as follows:

(Millions of dollars)
		Year ended December 31
	2019
Finance lease revenue		$	521
Operating lease revenue		1,248
Total		$	1,769