Accumulated Other Comprehensive Income/(Loss) (Tables)

3 Months Ended

Mar. 31, 2017

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated other comprehensive income/(loss)

Changes in Accumulated other comprehensive income/(loss), net of tax, included in the Consolidated Statements of Changes in Shareholder's Equity, consisted of the following:

(Millions of dollars)	Foreign currency translation			Derivative financial instruments			Total
Three Months Ended March 31, 2016
Balance at December 31, 2015	$	(897	)	$	—		$	(897	)
Other comprehensive income/(loss) before reclassifications	172			(1		)	171
Amounts reclassified from accumulated other comprehensive (income)/loss	—			2			2
Other comprehensive income/(loss)	172			1			173
Balance at March 31, 2016	$	(725	)	$	1		$	(724	)
Three Months Ended March 31, 2017
Balance at December 31, 2016	$	(994	)	$	(1	)	$	(995	)
Other comprehensive income/(loss) before reclassifications	80			(12		)	68
Amounts reclassified from accumulated other comprehensive (income)/loss	—			14			14
Other comprehensive income/(loss)	80			2			82
Balance at March 31, 2017	$	(914	)	$	1		$	(913	)

Reclassifications out of Accumulated other comprehensive income/(loss)

The effect of the reclassifications out of Accumulated other comprehensive income/(loss) on the Consolidated Statements of Profit was as follows:

(Millions of dollars)		Three Months Ended March 31,
	Classification of income (expense)	2017			2016
Cross currency contracts	Other income (expense)	$	(22	)	$	—
Interest rate contracts	Interest expense	1			(2		)
Reclassifications before tax		(21		)	(2		)
Tax (provision) benefit		7			—
Total reclassifications from Accumulated other comprehensive income/(loss)		$	(14	)	$	(2	)