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Accumulated Other Comprehensive Income/(Loss) (Tables)
 12 Months Ended
Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Accumulated other comprehensive income/(loss)
Comprehensive income/(loss) and its components are presented in the Consolidated Statements of Comprehensive Income. 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
 
 
 
 
 
 
Balance at December 31, 2015
$
(897
)
 
$
—

 
$
(897
)
Other comprehensive income/(loss) before
reclassifications
(97
)
 
15

 
(82
)
Amounts reclassified from accumulated other
comprehensive (income)/loss
—

 
(16
)
 
(16
)
Other comprehensive income/(loss)
(97
)
 
(1
)
 
(98
)
Balance at December 31, 2016
$
(994
)
 
$
(1
)
 
$
(995
)
Other comprehensive income/(loss) before
reclassifications
407

 
(49
)
 
358

Amounts reclassified from accumulated other
comprehensive (income)/loss
—

 
45

 
45

Other comprehensive income/(loss)
407

 
(4
)
 
403

Balance at December 31, 2017
$
(587
)
 
$
(5
)
 
$
(592
)
Other comprehensive income/(loss) before
reclassifications
(302
)
 
98

 
(204
)
Amounts reclassified from accumulated other
comprehensive (income)/loss
—

 
(129
)
 
(129
)
Other comprehensive income/(loss)
(302
)
 
(31
)
 
(333
)
Balance at December 31, 2018
$
(889
)
 
$
(36
)
 
$
(925
)
 
 
 
 
 
 
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 during the years ended December 31, 2018, 2017 and 2016 was as follows:
(Millions of dollars)
 
 
 
 
 
 
 
Derivative financial instruments
Classification of
income (expense)
 
2018
 
2017
 
2016
Cross currency contracts
Other income (expense)
 
$
148

 
$
(81
)
 
$
28

Cross currency contracts
Interest expense
 
19

 
6

 
—

Interest rate contracts
Interest expense
 
—

 
3

 
(3
)
Reclassifications before tax
 
 
167

 
(72
)
 
25

Tax (provision) benefit
 
 
(38
)
 
27

 
(9
)
Total reclassifications from Accumulated other comprehensive income/(loss)
 
$
129

 
$
(45
)
 
$
16