Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair values of financial instruments

Fair values of our financial instruments not carried at fair value were as follows:

(Millions of dollars)	March 31, 2022				December 31, 2021
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Fair Value Levels	Reference
Assets
Finance receivables, net (excluding finance leases(1))	$	19,433	$	19,180	$	19,068	$	19,047	3	Note 3
Liabilities
Long-term debt	$	23,320	$	23,010	$	22,594	$	22,797	2

(1) Represents finance leases and failed sale leasebacks of $7.92 billion and $8.11 billion as of March 31, 2022 and December 31, 2021, respectively.