Accumulated Other Comprehensive Income/(Loss) (Tables)

3 Months Ended

Mar. 31, 2018

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, 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	)
Three Months Ended March 31, 2018
Balance at December 31, 2017	$	(587	)	$	(5	)	$	(592	)
Other comprehensive income/(loss) before reclassifications	65			(26		)	39
Amounts reclassified from accumulated other comprehensive (income)/loss	—			20			20
Other comprehensive income/(loss)	65			(6		)	59
Balance at March 31, 2018	$	(522	)	$	(11	)	$	(533	)

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,
Derivative financial instruments	Classification of income (expense)	2018			2017
Cross currency contracts	Other income (expense)	$	(29	)	$	(22	)
Cross currency contracts	Interest expense	3			—
Interest rate contracts	Interest expense	1			1
Reclassifications before tax		(25		)	(21		)
Tax (provision) benefit		5			7
Total reclassifications from Accumulated other comprehensive income/(loss)		$	(20	)	$	(14	)