Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

Debt outstanding and interest rates at December 31 were as follows (in millions):

					Interest Rates
	Debt				Average Contractual				Average Effective
	2023		2024		2023		2024		2023		2024
Short-term debt
Unsecured debt
Floating rate demand notes	$	10,907	$	12,040
Other short-term debt	4,593		4,173
Asset-backed debt	3,158		1,200
Total short-term debt	18,658		17,413		5.3	%	4.7	%	5.3	%	4.7	%
Long-term debt
Unsecured debt
Notes payable within one year	11,755		12,871
Notes payable after one year	45,435		49,607
Asset-backed debt
Notes payable within one year	18,851		23,050
Notes payable after one year	36,074		36,224
Unamortized (discount)/premium	9		(18)
Unamortized issuance costs	(237)		(235)
Fair value adjustments (a)	(1,258)		(1,044)
Total long-term debt	110,629		120,455		4.7	%	4.8	%	4.7	%	4.8	%
Total debt	$	129,287	$	137,868	4.8	%	4.8	%	4.8	%	4.8	%
Fair value of debt	$	130,533	$	140,046
Interest rate characteristics of debt payable after one year
Fixed interest rate	64,655		69,085
Variable interest rate (generally based on EURIBOR or other short-term rates)	16,854		16,746
Total payable after one year	$	81,509	$	85,831

__________

(a)These adjustments are related to hedging activity and include discontinued hedging relationship adjustments of $(681) million and $(450) million at December 31, 2023 and 2024, respectively. The carrying value of hedged debt was $38.7 billion and $41.1 billion at December 31, 2023 and 2024, respectively.

Schedule of Maturities of Long-term Debt [Table Text Block]

Debt maturities at December 31, 2024 were as follows (in millions):

	2025 (a)		2026		2027		2028		2029		Thereafter (b)		Total
Unsecured debt	$	29,084	$	12,879	$	11,467	$	6,786	$	6,414	$	12,061	$	78,691
Asset-backed debt	24,250		19,491		8,759		5,358		2,616		—		60,474
Total	53,334		32,370		20,226		12,144		9,030		12,061		139,165
Unamortized (discount)/premium													(18)
Unamortized issuance costs													(235)
Fair value adjustments													(1,044)
Total debt													$	137,868

__________

(a)Includes $17,413 million for short-term and $35,921 million for long-term debt.

(b)Matures between 2030 and 2034.