Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2022

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

Schedule of Accumulated other comprehensive income (loss)

Changes in Accumulated other comprehensive income (loss) included in the Consolidated Statements of Changes in Shareholder’s Equity consisted of the following:

(Millions of dollars)	Three Months Ended March 31,
	2022		2021
Foreign currency translation
Balance at beginning of period	$	(762)	$	(551)
Gains (losses) on foreign currency translation	19		(94)
Less: Tax provision/(benefit)	11		25
Net gains (losses) on foreign currency translation	8		(119)
Other comprehensive income (loss), net of tax	8		(119)
Balance at end of period	$	(754)	$	(670)
Derivative financial instruments
Balance at beginning of period	$	(12)	$	(44)
Gains (losses) deferred	29		119
Less: Tax provision/(benefit)	6		25
Net gains (losses) deferred	23		94
(Gains) losses reclassified to earnings	(10)		(104)
Less: Tax (provision)/benefit	(3)		(21)
Net (gains) losses reclassified to earnings	(7)		(83)
Other comprehensive income (loss), net of tax	16		11
Balance at end of period	$	4	$	(33)
Total Accumulated other comprehensive income (loss) at end of period	$	(750)	$	(703)