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Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Components of lease cost
The components of lease costs were as follows:
(Millions of dollars)
Years Ended December 31,
202420232022
Operating lease cost$185 $189 $187 
Short-term lease cost$65 $62 $59 
Schedule of supplemental balance sheet information related to leases
Supplemental information related to leases was as follows:

(Millions of dollars)
December 31, 2024December 31, 2023
Operating Leases
Other assets$592 $556 
Other current liabilities$143 $147 
Other liabilities$459 $427 
Weighted average remaining lease term
Operating leases7 years7 years
Weighted average discount rates
Operating leases3 %3 %
Schedule of maturities of operating lease liabilities
Maturities of operating lease liabilities were as follows:

(Millions of dollars)December 31, 2024
Amounts Due In
2025$157 
2026120 
202793 
202867 
202955 
Thereafter187 
Total lease payments679 
Less: Imputed interest(77)
Total$602 
Schedule of supplemental cash flow information related to leases
Supplemental cash flow information related to leases was as follows:

(Millions of dollars)
Years ended December 31,
202420232022
Cash paid for amounts included in the measurement of lease liabilities
   Operating cash flows from operating leases$179 $180 $178 
Right-of-use assets obtained in exchange for lease obligations:
   Operating leases$187 $148 $123 
Schedule of equipment leased to others
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)20242023
Equipment leased to others - at original cost$5,701 $5,837 
Less: Accumulated depreciation(1,927)(1,902)
Equipment leased to others - net$3,774 $3,935 
Schedule of payments due for operating leases
Payments due for operating leases as of December 31, 2024, were as follows:
(Millions of dollars)
20252026202720282029ThereafterTotal
$868$555$317$176$67$37$2,020
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,
202420232022
Finance lease revenue$440 $420 $430 
Operating lease revenue1,212 1,166 1,085 
Total$1,652 $1,586 $1,515