XML 46 R23.htm IDEA: XBRL DOCUMENT v3.3.0.814
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2015
Fair Value Disclosures [Abstract]  
Fair values of financial instruments
Please refer to the table below for the fair values of our financial instruments.
(Millions of dollars)
September 30, 2015
 
December 31, 2014
 
 
 
 
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
 
Fair Value
Levels
 
Reference
Cash and cash equivalents
$
1,023

 
$
1,023

 
$
857

 
$
857

 
1
 
 
Foreign currency contracts:
 
 
 
 
 
 
 
 
 
 
 
In a receivable position
$
3

 
$
3

 
$
5

 
$
5

 
2
 
Note 5
In a payable position
$
(5
)
 
$
(5
)
 
$
(15
)
 
$
(15
)
 
2
 
Note 5
Cross currency contracts
 
 
 
 
 
 
 
 
 
 
 
In a receivable position
$
35

 
$
35

 
$
17

 
$
17

 
2
 
Note 5
Finance receivables, net (excluding finance leases(1))
$
20,572

 
$
20,345

 
$
21,434

 
$
21,093

 
3
 
Note 4
Restricted cash and cash equivalents(2)
$
10

 
$
10

 
$
11

 
$
11

 
1
 
 
Short-term borrowings
$
(6,068
)
 
$
(6,068
)
 
$
(4,699
)
 
$
(4,699
)
 
1
 
 
Long-term debt
$
(21,950
)
 
$
(22,311
)
 
$
(24,574
)
 
$
(25,103
)
 
2
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
In a net receivable position
$
66

 
$
66

 
$
79

 
$
79

 
2
 
Note 5
In a net payable position
$
(4
)
 
$
(4
)
 
$
(8
)
 
$
(8
)
 
2
 
Note 5
Guarantees
$
(1
)
 
$
(1
)
 
$
(1
)
 
$
(1
)
 
3
 
Note 7
 
 
 
 
 
 
 
 
 
 
 
 
(1)As of September 30, 2015 and December 31, 2014, represents finance leases with a net carrying value of $6.67 billion and $7.64 billion, respectively.
(2) Included in Other assets in the Consolidated Statements of Financial Position.